Procurement of amc(annual maintenance contract) for hvac ... - GAIL
Procurement of amc(annual maintenance contract) for hvac ... - GAIL
Procurement of amc(annual maintenance contract) for hvac ... - GAIL
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40. Contract<br />
Per<strong>for</strong>mance<br />
Security<br />
41. Corrupt or<br />
Fraudulent<br />
Practices<br />
document on non-judicial paper <strong>of</strong> appropriate value (the cost <strong>of</strong><br />
stamp paper shall be borne by the Contractor), within 15 days <strong>of</strong> the<br />
receipt by him <strong>of</strong> the Notification <strong>of</strong> Acceptance <strong>of</strong> Tender. In the<br />
event <strong>of</strong> failure on the part <strong>of</strong> the successful bidder to sign the<br />
AGREEMENT within the above stipulated period, the Bid Security<br />
shall be <strong>for</strong>feited and the acceptance <strong>of</strong> the tender shall be<br />
considered as cancelled.<br />
40.1 Within 15 days <strong>of</strong> the receipt <strong>of</strong> the notification <strong>of</strong> award / Fax <strong>of</strong> Intent<br />
from <strong>GAIL</strong>, the successful bidder shall furnish the <strong>contract</strong><br />
per<strong>for</strong>mance security in accordance with Article 24 <strong>of</strong> General<br />
Conditions <strong>of</strong> The Contract in the <strong>for</strong>m provided in the bidding<br />
documents. The Contract Per<strong>for</strong>mance Security shall be in the<br />
<strong>for</strong>m <strong>of</strong> either Banker’s Cheque or Demand Draft or Bank<br />
Guarantee or Letter <strong>of</strong> Credit and shall be in the currency <strong>of</strong> the<br />
Contract.<br />
40.2 The <strong>contract</strong> per<strong>for</strong>mance security shall be <strong>for</strong> an amount equal to<br />
10% <strong>of</strong> the value <strong>of</strong> the <strong>contract</strong> towards faithful per<strong>for</strong>mance <strong>of</strong><br />
the <strong>contract</strong>ual obligations and per<strong>for</strong>mance <strong>of</strong> equipment. This<br />
Bank Guarantee/DD/Letter <strong>of</strong> Credit shall be from any Indian<br />
scheduled bank or a branch <strong>of</strong> an International bank situated in<br />
India and registered with Reserve bank <strong>of</strong> India as scheduled<br />
<strong>for</strong>eign bank. However, in case <strong>of</strong> bank guarantees from banks<br />
other than the Nationalized Indian banks, the bank must be a<br />
commercial bank having net worth in excess <strong>of</strong> Rs 100 crores and a<br />
declaration to this effect should be made by such commercial bank<br />
either in the Bank Guarantee itself or separately on its letterhead.<br />
This bank guarantee shall be valid <strong>for</strong> a period as stated in Article-<br />
24 <strong>of</strong> General Conditions <strong>of</strong> The Contract.<br />
40.3 Failure <strong>of</strong> the successful bidder to comply with the requirements <strong>of</strong> this<br />
article shall constitute sufficient grounds <strong>for</strong> the annulment <strong>of</strong> the<br />
award and <strong>for</strong>feiture <strong>of</strong> the bid security, in which event <strong>GAIL</strong> may<br />
award the order to the next lowest evaluated bidder or call <strong>for</strong> new<br />
bids.<br />
41.1 <strong>GAIL</strong> requires that bidders/<strong>contract</strong>ors observe the highest standard<br />
<strong>of</strong> ethics during the execution <strong>of</strong> <strong>contract</strong>s. In pursuance <strong>of</strong> this<br />
policy, the Employer :<br />
a) defines, <strong>for</strong> the purposes <strong>of</strong> this provision, the terms<br />
set <strong>for</strong>th below as follows :<br />
i) “corrupt practice” means the <strong>of</strong>fering, giving or<br />
soliciting <strong>of</strong> anything <strong>of</strong> value to influence the<br />
action <strong>of</strong> a public <strong>of</strong>ficial in the procurement<br />
process or in <strong>contract</strong> execution; and<br />
ii) “fraudulent practice” means a misrepresentation <strong>of</strong><br />
facts in order to influence a procurement process or<br />
the execution <strong>of</strong> a <strong>contract</strong> to the detriment <strong>of</strong> the<br />
Employer, and includes collusive practice among<br />
bidders (prior to or after bid submission) designed<br />
to establish bid prices at artificial non-competitive<br />
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