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

The New India Assurance Co.Ltd.iii.The Tender Opening Committee shall open only the “TECHNICAL BIDS” of the validtenders and should put their Signature & Date on:1. All the envelopes superscribed as “Technical Bid”2. All the pages of the “Technical Bids”.iv.The Tender Committee should record the findings of the “Technical Bids” in the prescribedform “Comparative Statement of Technical Bids (Annexure –IV)” This statement is forshort-listing the premises for inspection by RO Inspection Committee.v. Short-listing of the offers :-a. The Tender Opening Committee should prepare a shortlist of the offers.b. Normally all the offers received should be short-listed. Offers should be rejected atthis stage only on account of one or more of the following reasons:-i. If the premises is not located in the areas specified in the advertisement.ii.If the area of the premises offered exceeds / falls short by more than 10% of thearea advertised.iii. Any other reason, which the tender opening Committee members feel, is strongenough to make the offer unacceptable. However, this decision must be unanimous. Ifthe decision is not unanimous, the premises should be short listed for inspection. Thereason/s for rejecting any offer must be very clearly recorded, stating full reasons indetail.vi.vii.If the advertisement failed to generate sufficient response or suitable premises could notbe selected from the offers received, fresh Tenders may be invited.The short-listed offers (which meet with the company’s requirements) should be forwardedto the “RO Inspection Committee” on the same day in the prescribed format “Annexure –V” along with following documents:1. Copies of “Technical Bids” of short-listed tenders.2. Copy of Advertisement.viii.All the unopened envelopes containing the Financial Bids should be kept in safe custodytill the receipt of Inspection Committee’s report.14 MANUAL ON PROPERTY