Pipelaying Tender-VOL I - WorleyParsons.com

v. After the completion of English Reverse (no ties), the Closing Price (CP) of allparticipating bidders shall be available. All the bidders must submit the final priceconfirmation through fax to HPCL (Fax No. ).vi. Order shall be placed on the lowest bidder, basis overall lowest delivered cost after theconclusion of reverse auction event.vii. The Closing Price(s) offered by the bidders at the conclusion of the Reverse Auctionshall be kept valid for a minimum period of One Month from the date of the ReverseAuction or 120 days from the due date / extended due date of tender whichever is later.8. Successful bidder / vendor shall be required to submit the final prices item-wise,worked out on pro-rata basis from the total delivered cost after Reverse Auction,in HPCL Price Format, duly signed and stamped as token of acceptance withoutany new conditions other than those already agreed to before start of auction.9. English Reverse (no ties) Auction shall be for a period of 60 minutes. If a bidderplaces a Bid in the last 5 minutes of Closing of the Auction, the auction shall getextended automatically for another 5 minutes. In case, there is no Bid in the last 5minutes of closing of Auction, the Auction shall get closed automatically without anyextension.10. During English Reverse (no ties), if no bid is received within the specified time, HPCL,at its discretion, may decide to revise Sealed Bid price and start the Reverse Auctiononce again / scrap the reverse auction process / proceed with conventional mode oftendering (opening of Priced bids submitted by you along with your un - priced bids).11. Your bid will be taken as an offer to sell. Bids once made by you, cannot be cancelled /withdrawn and you shall be bound to sell the material as mentioned above at your finalbid price, and as per the specifications and terms & conditions mentioned in the tender.Should you back out and not make the supplies as per the rates quoted, or incase the material supplied is not as per specifications mentioned in the tender,HPCL shall take appropriate action as per the terms & conditions mentioned inin Tender.12. You shall be assigned a Unique User Name & Password. You are advised to change thePassword and edit the information in the Registration Page after the receipt of initialPassword to ensure confidentiality. All bids made from the Login ID given to you will bedeemed to have been made by your Company.13. You shall be able to view the following on your screen along with the necessary fields in theEnglish Reverse (no ties) { Reverse Auction} :a. Leading Bid in the Auction (Total Delivered Cost)b. Bid Placed by youc. Start Bid Price.MH2145-C000-PS-RFQ-0020Page 324 of 334