ANNEXURE Minutes of Pre-Bid meeting held on ... - Moil Limited

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(converted in to INR) will be discounted at 12% discount rate to arrive present value <strong>of</strong> the Tender price. Lowest Tender price so arrived will be the L1. 4. Clause no. 7.0 <strong>of</strong> Chapter II should be read as “The successful tenderer whose tender ......................................... from the date <strong>of</strong> ‘Letter <strong>of</strong> Acceptance’. The successful tenderer will furnish the security deposit <strong>of</strong> requisite amount to the Employer within 45 days from the date <strong>of</strong> ‘Letter <strong>of</strong> Acceptance’. In the event <strong>of</strong> his failure …………………………… and release their earnest money.” 5. Clause no. 2.1 <strong>of</strong> Chapter III should be read as SECURITY DEPOSIT “The successful tenderer shall submit the security deposit <strong>of</strong> 5 % <strong>of</strong> the Contract Value within 45 days from the date <strong>of</strong> ‘Letter <strong>of</strong> acceptance’ issued by the company for accepting the tender failing which .................... ........................... ..................... ........................... ................. by the Contractor, other than Force Majeure reasons.” 6. Clause No. 2.22 <strong>of</strong> Chapter III: ARBITRATION: This clause may be read as “DISPUTE RESOLUTION & ARBITRATION" and following may be added in this clause. “A Dispute Resolution Committee will be constituted headed by G.M. (Mines) for resolution <strong>of</strong> any dispute arising out <strong>of</strong> difference <strong>of</strong> opinion between the Engineer In-charge and the contractor. The decision <strong>of</strong> dispute Resolution committee should not be at variance with the express provision <strong>of</strong> this contract. In case an amicable solution could not be reached through Dispute Resolution committee, either <strong>of</strong> the party, subject to the provisions <strong>of</strong> the Integrity pact, can go for arbitration which is detailed as below”: Except where it is provided otherwise, any dispute or difference arising out <strong>of</strong> ........................... ...................................... ............... .................... .................. ................ payment due for the work executed during Arbitration proceedings. 7. Clause No. 2.25.2 (a) <strong>of</strong> Chapter III: should be read as For Design & Engineering: “80 % <strong>of</strong> the value <strong>of</strong> the above services shall be paid on progressive acceptance <strong>of</strong> design drawings and on submission <strong>of</strong> corresponding pre-receipted invoices and duly certified by the Company, 10% <strong>of</strong> the value shall be paid after preliminary acceptance and remaining 10% shall be paid after issue <strong>of</strong> final acceptance certificate.” 8. Clause No. 2.25.2 (c) <strong>of</strong> Chapter III: should be read as i) For imported deliverable P&M quoted in EURO or USD:
- Payment will be facilitated by letter <strong>of</strong> credit - On production <strong>of</strong> pro<strong>of</strong> <strong>of</strong> dispatch along the bills, 80% <strong>of</strong> FOB price (Refer Price bid format 1.4.B) for the equipments will be released. - 10% <strong>of</strong> FOB price for the equipments will be released after issue <strong>of</strong> <strong>Pre</strong>liminary acceptance certificate. Payment for the bills for the remaining 10% FOB price and for other expenses (Price bid format 1.4.B) will be made after issue <strong>of</strong> Final Acceptance Certificate by the Company on the recommendation <strong>of</strong> Engineer in-charge. Subject to the provision <strong>of</strong> clause for taxes and duties, the maximum amount to be paid shall be limited to quoted agreed price. - Taxes, duties and levies as per statute will be reimbursed at actual on production <strong>of</strong> documentary pro<strong>of</strong>. For supply <strong>of</strong> winding engines, letter <strong>of</strong> credit shall be opened only after submission <strong>of</strong> Irrecoverable Bank guarantee <strong>of</strong> equivalent amount issued by a Nationalised / Scheduled bank acceptable to MOIL, other than co-operative bank with its validity <strong>of</strong> 30 days beyond the date <strong>of</strong> successful commissioning. Bank Guarantee will be extended by the Contractor, if completion <strong>of</strong> successful commissioning is delayed for any reason whatsoever. ii) For deliverable P&M quoted in INR 80% <strong>of</strong> the value <strong>of</strong> each complete equipment consignment will be paid after delivery <strong>of</strong> the Consignment at site subject to receipt <strong>of</strong> the following documents by the Company: - Irrecoverable Bank guarantee <strong>of</strong> equivalent amount issued by a Nationalised / Scheduled bank acceptable to MOIL, other than co-operative bank with its validity <strong>of</strong> 30 days beyond the date <strong>of</strong> successful commissioning. Bank Guarantee will be extended by the Contractor, if completion <strong>of</strong> successful commissioning is delayed for any reason whatsoever. (Bank guarantee is to be furnished only for supply <strong>of</strong> winding engines) - Contractor’s pre-receipted invoice. - Certificate for receipt <strong>of</strong> all materials (for which invoice has been made) at site in full and good condition. - 2 copies <strong>of</strong> lorry receipt evidencing receipt <strong>of</strong> materials at site. - 2 copies <strong>of</strong> delivery challan & packing list. - Invoice in original + 1 copy. - Company’s Inspection Certificate (original + 1 copy) - <strong>Pre</strong> Despatch Clearance or its waival issued by the Employer.
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ANNEXURE Minutes of Pre-Bid meeting held on ... - Moil Limited

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