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

The New India Assurance Co.Ltd.STEP - 6RECOMMENDATION BY DEPUTY GENERAL MANAGER /CHIEF REGIONAL MANAGERi. After receipt of the Lowest of the Tenders (L-1) from the Tender Committee, a MeasurementCertificate of the selected premises should be obtained by the RO from a LIC PanelValuer or a surveyor with requisite qualificaitons certifying that the carpet area has beenmeasured as per the IS 3861-1975 formula. The measurement certificate should beobtained within 7 working days from the receipt of recommendation (L-1) from the TenderCommittee.]ii.iii.iv.Title Clearance Certificate of the recommended premises should be obtained from aCompetent Advocate within 7 working days from the receipt of recommendation (L-1)from the Tender Committee.The RO Negotiation Committee Member(s) should negotiate ONLY with the L-1 Tendererfor further reduction of Rent and other charges, keeping in view the prevalent marketrent (Rent being paid by Banks / Public Sector Undertakings having their offices in thearea may be taken into consideration).It may be noted here that negotiation with other than L-1 tenderer is prohibited. In thisconnection, the relevant excerpt from CVC’s instructions dated 18.11.98 is quoted forready reference: “As post-tender negotiations are the main source of corruption, posttender negotiations are banned with immediate effect except in the case of negotiationswith L1 (i.e. lowest tenderer).”v. If the L-1 Tenderer backs out, there should be retendering in a transparent & fair manner.vi.vii.viii.The final recommendation should be prepared in the prescribed format Annexure –VIII.RO should forward their recommendation to HO Property Cell in Annexure-VIII.The following papers should be enclosed along with Annexure –VIII:1. Copy of the advertisement showing the name of News paper & date ofadvertisement.2. Copies of all the Tender Documents including rejected Offers.3. Measurement Certificate of the selected premises (L-1) issued by a LIC PanelValuer certifying that the carpet area has been measured as per IS 3861-1975 formula.4. Valuation report on rent/sale price of the selected (L-1) premises from theLIC empanelled Valuer.5. Title Clearance Certificate of the recommended premises from a CompetentAdvocate.6. Copy of the Annexures from I to IX, duly completed.MANUAL ON PROPERTY17