invitation for bids - Gail

37.1 GAIL will award the Contract to the successful bidder, who, within 15 days of receipt of thesame, shall sign and return the acceptance copy to GAIL.37.2 The successful bidder shall be required to execute an AGREEMENT in the proforma given inthis tender document on non-judicial paper of appropriate value (the cost of stamp paper shallbe borne by the Contractor), within 15 days of the receipt by him of the Notification ofAcceptance of Tender. In the event of failure on the part of the successful bidder to sign theAGREEMENT within the above stipulated period, the Bid Security shall be forfeited and theacceptance of the tender shall be considered as cancelled.38. Contract Performance Security / Security Deposit38.1 Within 15 days of the receipt of the notification of award / Fax of Intent / Letter of Intent fromGAIL, the successful bidder shall furnish the contract performance security in accordance withclause no 24.0 of General Conditions of The Contract (GCC) in the form provided in the biddingdocuments. The Contract Performance Security shall be in the form of either Banker’s Chequeor Demand Draft or Bank Guarantee shall be in the currency of the Contract.38.2 The contract performance security shall be for an amount equal to 10% of the value of thecontract towards faithful performance of the contractual obligations and performance ofequipment. This Bank Guarantee/DD shall be from any Indian scheduled bank or a branch ofan International bank situated in India and registered with Reserve bank of India as scheduledforeign bank. However, in case of bank guarantees from banks other than the NationalizedIndian banks, the bank must be a commercial bank having net worth in excess of Rs 100crores and a declaration to this effect should be made by such commercial bank either in theBank Guarantee itself or separately on its letterhead.38.3 Failure of the successful bidder to comply with the requirements of this article shall constitutesufficient grounds for the annulment of the award and forfeiture of the bid security, in whichevent GAIL may award the order to the next lowest evaluated bidder or call for new bids.39. Corrupt or Fraudulent Practices39.1 GAIL requires that bidders/contractors observe the highest standard of ethics during theexecution of contracts. In pursuance of this policy, the Employer:a) defines, for the purposes of this provision, the terms set forth below as follows:i) “corrupt practice” means the offering, giving or soliciting of anything of value to influence theaction of a public official in the procurement process or in contract execution; andii) “fraudulent practice” means a misrepresentation of facts in order to influence a procurementprocess or the execution of a contract to the detriment of the Employer, and includescollusive practice among bidders (prior to or after bid submission) designed to establish bidprices at artificial non-competitive levels and to deprive the Employer of the benefits of freeand open competition;b) will reject a proposal for award if it determines that the bidder recommended for award hasengaged in corrupt or fraudulent practices in competing for the contract in question;c) will declare a firm ineligible and put on holiday, either indefinitely or a for a stated period of timeif it at any time determines that the firm has engaged in corrupt or fraudulent practices incompeting for, or in executing a contract.15