invitation for bids - Gail

considered as binding upon the bidder. If the bidder does not accept the corrected amount ofbid, its bid will be rejected, and the bid security shall be forfeited.29. Conversion to Single Currency for Comparison of Bids- NOT APPLICABLE30. Evaluation and Comparison of BidsA. For the purpose of Evaluation of bids and arriving at the L1 bidder the rates quoted by thebidders in the schedule of rates will be considered.B. Comparison of bids will be on the basis of overall lowest cost to GAIL for all the items clubbedtogether.C. The Service Tax shall be considered for evaluation purpose.DAward of Work will be for all the items in the SOR clubbed together and not on individual basis.31. Preference for Domestic Bidders- NOT APPLICABLE32. Purchase Preference: Not Applicable33. Compensation for Extended Stay: Not Applicable34. AwardF. Award of Contract34.1 GAIL will award the contract to the successful bidder whose bid has been determined to besubstantially responsive and has been determined as the lowest, is determined to be qualifiedto satisfactorily perform the contract.35. Employer’s Right to Accept Any Bid and to Reject Any or All Bids35.1 GAIL reserves the right to accept or reject any bid, and to annul the bidding process and rejectall bids, at any time prior to award of contract, without thereby incurring any liability to theaffected bidder or bidders or any obligations to inform the affected bidder or bidders of theground for GAIL’S ACTION.36. Notification of Award36.1 Prior to the expiration of period of bid validity GAIL will notify the successful bidder in writingby fax, cable or telex to be confirmed in writing, that his bid has been accepted. Thenotification of award / Fax of Intent will constitute the formation of the Contract.36.2 Delivery shall be counted from the date of Notification of Award / Fax of Intent/ Letter of IntentThe notification of award will constitute the formation of a Contract, until the Contract has beeneffected pursuant to signing of Contract.Upon the successful bidder’s furnishing of contract performance security, GAIL will promptlynotify each unsuccessful bidder and will discharge his bid security, pursuant to Clause 16 ofITB.37. Signing of Agreement14