Property_Manu - Final - The New India Assurance Co. Ltd.

The New India Assurance Co.Ltd.TENDERING PROCEDURE ;All major works costing more than Rs.15 lacs:(1) Tender Notice will be for the specific work(2) Tender notice to be approved by the competent authority;(3) Financial sanction of the competent authority for the actual estimated cost, contingenceprovision of maximum 15%, cost of professional services, other known related expensesas per location(4) Proposed design, drawing, specifications, standard have been approved by thecompetent authority(5) The work is technically sanctioned by the professional expert and concurred by GM/DGM/CM of the Department.(6) Notice should appear in the newspapers of English, Hindi and regional language(7) Minimum 15 days of tender notice is a ‘must’.(8) Notice should also be given on Company’s website(9) Copies of tender notice to be displayed on web-site for execution of major works(10) The tender notice is for PQT – Pre-Qualification of Tenderers.(11) Based on the information, the Committee should identify deserving contractors for issuingthe regular tender.(12) The tender should be issued to selected contractors for identifying a suitable L-I.(13) If by chance for any reason L-I backs out, tender should be reinvited from remainingselected contractors. If by chance in the second exercise also L-I backs out, freshretendering process should be made or based on merits of the case,matter to be referredto competent authority.(14) The tenders will be in 2 parts with technical bid and financial bid.(15) The technical bid is only for indicating/requesting either improvement or modifications inthe terms and conditions laid down towards payment, scope of amenities and facilitiesoutlined in the tender and for additional consideration necessary for timely execution ofwork.(16) The financial bid should be without any condition, except discount/rebate.118 MANUAL ON ESTATE & ESTABLISHMENT