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

The New India Assurance Co.Ltd.B. Medium Works costing Rs.2 lac to Rs.15 lacs:(1) Tender notice issued as per procedure should be placed on official website.(2) If for any reason L-I backs out his earnest money deposit would be forfeited and thereshould be retendering in a transparent and fair manner. In retendering process thebacked out tenderer should not be considered.C. Minor Works costing Rs.25,000/- to Rs.2,00,000/-.(1) Tender notice to be issued.(2) Tenders issued to contractors on rotation basis, on annual panel.(3) Posting on company’s website is recommended.(4) L-I is to be identified by the Tender CommitteeD. Petty Works: costing Rs.5,000/ to Rs.25,000/-.(1) Quotations to be invited from the contractors on annual panel.E. Petty Works costing less than Rs.5,000/-.(1) Work to be entrusted to suitable petty contractors on the annual panel.(2) Panel contractors should be rotated(3) As far as possible all panel contractors must get a job during the year.Basically, tender processing is for identifying one single suitable external agency against manyintending for execution of work for the company. As such, maximum care must be taken. Furtherthe entire activity should be as transparent as possible.The Department should maintain a Tender Register. The Register must provide information aboutname of work, tender notice number and date, names of newspapers in which it was published,date of publication, opening date, date of opening of tender, number of blank tenders issued,number of tenders received in tender box, number of tenders without EMD, names of TenderCommittee Members present for the opening of tender, names of contractors present for theopening of tender, details of offers as quoted by the contractors, details of offers as verified by theDepartment and the name of L-I.The Department should maintain a Register of Contractors on annual panel. Names of allcontractors category-wise selected for the panel must appear in the Register. Details of contractorsMANUAL ON ESTATE & ESTABLISHMENT119