Bid security – Mingkem http://mingkem.com/ Fri, 29 Oct 2021 15:12:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://mingkem.com/wp-content/uploads/2021/10/icon-7-120x120.png Bid security – Mingkem http://mingkem.com/ 32 32 Bid Security Removed for Crown Projects Under $ 7 Million https://mingkem.com/bid-security-removed-for-crown-projects-under-7-million/ https://mingkem.com/bid-security-removed-for-crown-projects-under-7-million/#respond Sun, 18 Jul 2021 07:00:00 +0000 https://mingkem.com/bid-security-removed-for-crown-projects-under-7-million/ As he stressed that the government will continue to implement general policies for the growth of small businesses, the Minister in charge of Finance, Dr Ashni Singh, said that the tender guarantee for contracts under 7 million dollars had been cut and he welcomed the increased participation of small entrepreneurs in the public tendering process. […]]]>

As he stressed that the government will continue to implement general policies for the growth of small businesses, the Minister in charge of Finance, Dr Ashni Singh, said that the tender guarantee for contracts under 7 million dollars had been cut and he welcomed the increased participation of small entrepreneurs in the public tendering process.

He explained that as the government strives to ensure that at least 20% of state contracts are awarded to small contractors, the National Council for the Administration of Public Procurement and Tendering (NPTAB ) has put in place a system in which bidders will now sign a self-declaration form guaranteeing their commitment to contracts. $ 7 million and less, instead of the previously required bid security.

Tarachand Balgobin

“We believe that the small businesses of today are the medium and large businesses of tomorrow and as they are helped we would see more and more small entrepreneurs entering the economic space here. The government has taken a number of measures to facilitate the participation of small businesses in the tendering process. The NPTAB, for example, has taken a number of steps simply to encourage more and more participation in the public procurement process, ”Dr Singh told The Sunday Stabroek in an interview.

“We are an active believer in promoting small business, and this is widespread with the help, as you will see, of the Small Business Bureau… and other agencies that I have listed, such as NPTAB et cetera, all playing their part. role in encouraging small entrepreneurs, “he added.

Dr Singh highlighted work done under the current leadership of NPTAB Chairman Tarachand Balgobin, such as granting a 5% advantage to small businesses and removing the bid bond.

Balgobin noted that in order to acquire a bid guarantee, an entrepreneur would have to go to the bank or an insurer to obtain a guarantee. “In order for the bank to give you this tender guarantee, you must have a guarantee; some assets. If you don’t have that asset base, but you have the skills, competency, experience, papers and all that, you still wouldn’t qualify. You wouldn’t have qualified. But we took it away, ”he told this newspaper.

He continued: So now you have what’s called an offer guarantee statement. You don’t have to find the money. All you have to do is sign a statement that is incorporated into the offer, which says that if you don’t comply – as in the same way you would have had an offer guarantee – you are voluntarily telling the government “ Kick me out ‘”.

The NPTAB chairman said that in the same way that a defaulting contractor would lose the bid security, with the declaration process, he would accept the responsibility of being penalized by the government, which could extend to his ability to be taken into consideration for future contracts.

“Margin of preference”

In March of this year, Balgobin explained that in order to allow small businesses to access 20% of public procurement, the NPTAB had put in place a 5% preference margin for companies that qualify by law.

“What we have done is included in the tender document that there will be a 5% preference margin for small businesses. So if big companies bid more, because of economies of scale, small companies can now compete, ”he said.

“When you award, you award to the lowest compliant bidder. If that other person is unregistered and their (offer) is 5% higher than yours, as a small business you are deemed to be above them. The law allows a margin of preference, up to 10%, for small businesses and we started at 5%, ”he explained.

Guyana’s Small Business Law provides that 20 percent of purchases of goods and services are reserved for small entrepreneurs. Since this did not include “works”, then President of the Public Procurement Commission, Carol Corbin, pointed out that small contractors should always have competed with large contractors for all construction projects.

She had urged that the laws be amended to include works.

While there had been promises made to small businesses since late 2015 that they could be awarded at least 20% of public procurement of goods, services and works, the Small Business (Amendment) Act 2020 was not adopted. in the National Assembly only in February. of this year.

‘Progress’

Balgobin has made it clear that the NPTAB believes small businesses want the opportunity to show that they can participate and that they are good at the work they do.

That’s why he said the agency remains committed to ensuring that more and more people can qualify to bid on contracts that themselves, as taxpayers, pay.

“The question is how do you help small businesses qualify to enter the market and that’s part of the standard tender document. Not for bragging rights, but changing the bidding documents to reflect the amounts of bids we receive has never happened in the history of this country. This [the document] says “you don’t need to have all this money for bid security, you don’t need to find such resources”. As a result, a number of small businesses have been able to enter the market and we continue to move forward, ”he said.

Using data and information from the new NPTAB website (www.npta.gov.gy) and the number of small entrepreneurs listed who were awarded contracts for this year, Balgobin said it was ” evidence ”that the initiative was working.

“When you look at that [the website] you will see the number of people winning contracts for the first time and the pool gets bigger. That’s the whole objective: to broaden the pool of candidates so that more people benefit from the services provided to the government, ”he said.

“As more and more people understand, the suspicions and fears that they had in the past – that they are small and that they cannot compete with the big entrepreneurs and that only the big entrepreneurs got – this will subside, until they start to understand that ‘Hey, there is a market and an opportunity here for me’, ”he added.


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Odisha relaxes EMD, bid guarantee and damages for vax tender bidders https://mingkem.com/odisha-relaxes-emd-bid-guarantee-and-damages-for-vax-tender-bidders/ https://mingkem.com/odisha-relaxes-emd-bid-guarantee-and-damages-for-vax-tender-bidders/#respond Sat, 22 May 2021 07:00:00 +0000 https://mingkem.com/odisha-relaxes-emd-bid-guarantee-and-damages-for-vax-tender-bidders/ Odisha’s government on Friday eased down payment (EMD), bid security, and liquidated damages for bidders willing to participate in the state government’s global tender to supply the COVID-19 vaccine. The decision was taken today at a Cabinet meeting chaired by Chief Minister Naveen Patnaik, who approved the terms of global tender documents for purchasing vaccines […]]]>

Odisha’s government on Friday eased down payment (EMD), bid security, and liquidated damages for bidders willing to participate in the state government’s global tender to supply the COVID-19 vaccine.

The decision was taken today at a Cabinet meeting chaired by Chief Minister Naveen Patnaik, who approved the terms of global tender documents for purchasing vaccines for the Covid-19 pandemic. , said the chief secretary.

The 3 percent performance guarantee has also been removed by the government to allow greater participation in electronic tendering.

“Based on bidders ‘requests and to make bidders’ participation more flexible, amendments have been incorporated as suggested by the appointed OSMCL committee,” a statement issued by the state government said.

“By keeping the overview of the vaccination of the target population within 4 months and of the limited suppliers of vaccines in the global market, the tender dossier has been prepared in such a way as to send a positive signal to sellers. Relaxation in EMD, A bid guarantee and liquidated damages have been provided to attract bidders, ”he added.

According to the statement, to facilitate the participation of the manufacturer, the vaccines will be stored at a supercooled temperature and the storage conditions have been revised to minus 20 degrees Celsius provided that the vaccines remain stable and maintain their activity at 2 degrees. Celsius at 8 degrees Celsius for at least 12 hours.

Odisha’s government has announced a vaccination policy initiative whereby the population in the 18-44 age group will receive free vaccines at the expense of the public purse.

To this end, the state government decided to purchase the vaccines on the open market through a global tender from Odisha State Medical Corporation Ltd (OSMCL), and the tender Global launched on May 14. The pre-offer meeting took place on May 19.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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Ministry asks states to ease bid performance and security for power project bids https://mingkem.com/ministry-asks-states-to-ease-bid-performance-and-security-for-power-project-bids/ https://mingkem.com/ministry-asks-states-to-ease-bid-performance-and-security-for-power-project-bids/#respond Wed, 24 Mar 2021 07:00:00 +0000 https://mingkem.com/ministry-asks-states-to-ease-bid-performance-and-security-for-power-project-bids/ The Ministry of Power ordered state governments and Union Territory (UT) governments to relax performance guarantee and down payment requirements for energy project bids. He also called on states and UTs to refrain from requiring additional security deposits for abnormally low bids. The ministry sent a directive to reduce the performance guarantee from the existing […]]]>

The Ministry of Power ordered state governments and Union Territory (UT) governments to relax performance guarantee and down payment requirements for energy project bids. He also called on states and UTs to refrain from requiring additional security deposits for abnormally low bids.

The ministry sent a directive to reduce the performance guarantee from the existing 5-10% to 3% of the contract value for all existing contracts. The guidance is in line with the ministry notification issued in November 2020.

After receiving requests from developers to reduce the amount of security deposits in public procurement, the Ministry of Finance decided to reduce the performance guarantee.

However, the relaxation would not apply to disputed contracts for which legal proceedings have already started or have ended. According to the notification, all offers and contracts concluded before December 31, 2021 would also come with the reduced performance guarantee.

The reduction in the performance guarantee will continue for the duration of the contract, and there would be no increase even after December 31, 2021.

The government had received requests for reduced performance safety in the wake of the Covid-19 pandemic, which resulted in an acute financial crisis affecting the on-time delivery of projects.

The finance ministry also said micro, small and medium-sized enterprises (MSMEs) should be exempt from the bid bond or deposit deposit. As an alternative, MSME bidders must sign the “Bid Guarantee Statement” agreeing that if they withdraw or modify their bids during the validity period, they will be suspended for the period specified in the bidding documents. .

The ministry also ordered not to have additional security deposit and bank guarantee clauses in case of abnormally low bids.

The relaxation would apply to the acquisition of goods, works, advice and non-advisory services.

Mercom previously reported that developers believed the costs of participating in large-scale solar tenders had reduced their ability to bid on other projects. These costs, added to delays and prolonged tenders, had tied up millions in the form of bank guarantees.

Mercom’s high-end event, the Mercom India Solar Summit, to be held virtually on April 8-9, features an exclusive session on “Tenders and Auctions – From Pipeline to PPAs, How We Get There”. You can click here to register for the event.



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DoE reduces performance security and introduces bid security statements https://mingkem.com/doe-reduces-performance-security-and-introduces-bid-security-statements/ https://mingkem.com/doe-reduces-performance-security-and-introduces-bid-security-statements/#respond Tue, 15 Dec 2020 08:00:00 +0000 https://mingkem.com/doe-reduces-performance-security-and-introduces-bid-security-statements/ The DoE reduced the performance security to 3% for all existing and future tenders concluded through December 31, 2021. The Expenditure Department (DoE) has notified that the performance guarantee will be reduced from 5% to 10% to 3% for all existing and future tenders concluded through December 31, 2021. The DoE had also previously indicated […]]]>

The DoE reduced the performance security to 3% for all existing and future tenders concluded through December 31, 2021.

The Expenditure Department (DoE) has notified that the performance guarantee will be reduced from 5% to 10% to 3% for all existing and future tenders concluded through December 31, 2021. The DoE had also previously indicated that No provision regarding the tender guarantee should be kept in the tender documents in future tenders and only a provision relating to the tender guarantee statement should be included.

He was informed that the State Implementation Agencies (SIA) under the PM-KUSUM program have been tasked with ensuring compliance with the instructions issued by the DoE. In addition, in order to ensure performance by sellers under the System, it has been decided that SIAs will obtain a declaration from sellers only in the event of non-performance or failure to perform contractual obligations under of the contract, sellers will be responsible for submitting 10 percent GIC outside of the other criminal provisions of the tender.

In addition, in accordance with the DoE’s instructions regarding supply security, instead of EMD / supply security, an offer security statement must be obtained by the central SIA / PSU for calls for tenders carried out within the framework of the PM-KUSUM program.

In the ordinances, it was revealed that the government had received numerous statements that due to the downturn in the economy due to the pandemic, there is an acute financial crisis among many business entities and entrepreneurs, which to its turn affects the timely execution of contracts. It had also been indicated that this could affect the ability of contractors to bid on tenders and therefore reduce competition. Requests have thus been formulated for a reduction in the amount of security deposits in public markets.

In view of all of the above, it was decided to reduce the performance guarantee from 5 to 10 percent to 3 percent of the contract value for all existing contracts. However, the benefit of the reduced performance guarantee will not be granted in contracts which are the subject of the dispute for which an arbitration / judicial procedure has already been initiated or is being considered.

Likewise, based on statements and requests made by stakeholders, it was decided that no provision regarding the offer guarantee should be kept in the offer documents in the future and that only one provision relating to the offer guarantee statement should be kept in the offer documents.

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Icra, Auto News, ET Auto https://mingkem.com/icra-auto-news-et-auto/ https://mingkem.com/icra-auto-news-et-auto/#respond Sun, 03 Nov 2019 07:00:00 +0000 https://mingkem.com/icra-auto-news-et-auto/ Central road implementing agencies ask for 1 percent of the contract value as bid security and the same value is higher for other central government agencies at 2.5 percent. New Delhi: The waiver of deposit deposits for EPC mode road projects is a relief for midsize road players, Icra rating agency said on Thursday. Instead […]]]>
Central road implementing agencies ask for 1 percent of the contract value as bid security and the same value is higher for other central government agencies at 2.5 percent.

New Delhi: The waiver of deposit deposits for EPC mode road projects is a relief for midsize road players, Icra rating agency said on Thursday.

Instead of the tender guarantee, tenderers are now required to sign a tender guarantee declaration accepting that if they withdraw or modify the tenders during the period of validity or if they do not present a performance guarantee for the contract awarded before the deadline, they be suspended from participation in the tender process for one year.

The decision by the Ministry of Road Transport and Highways (MoRTH) that all nodal agencies for the implementation of national road projects – NHAI, MoRTH and National Highways and Infrastructure Development Corporation (NHIDCL) – will no longer be required to apply for Bid Guarantees Money Deposit / Bid Security) for Engineering, Procurement and Construction (EPC) projects is a welcome step, he said.

“This waiver is a relief for midsize entrepreneurs, especially at a time when players are struggling to get improvements within limits not based on funds,” Icra said in a statement.

Central road implementing agencies ask for 1 percent of the contract value as bid security and the same value is higher for other central government agencies at 2.5 percent.

Depending on the success rate of the bids (which generally varies between 10 and 30%), the value of the contracts for which the bidding process and, therefore, the requirement for bid bond guarantees vary for each contractor.

Shubham Jain, Executive Vice President and Group Head, Corporate Ratings, Icra said: “For every 100 crore rupees added to a new order, entrepreneurs need approximately 6.25 crore rupees. guarantee plus a margin to secure the bid bond guarantees; that would be released now. In addition to freeing up margin money that can now be used to cover working capital needs, the waiver would also result in savings on bank guarantee commission fees which will go directly to the bottom line. ”

Regarding the bid security statement, Jain added, “Prohibiting contractors from participating in the bidding process for a period of one year in the event of non-compliance is a good deterrent to eliminate offending players. Otherwise, the tendering process would lose its sanctity. Overall, this is a win-win for both parties. “


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Waiver of the positive tender guarantee for contractors: Icra https://mingkem.com/waiver-of-the-positive-tender-guarantee-for-contractors-icra/ https://mingkem.com/waiver-of-the-positive-tender-guarantee-for-contractors-icra/#respond Thu, 31 Oct 2019 07:00:00 +0000 https://mingkem.com/waiver-of-the-positive-tender-guarantee-for-contractors-icra/ New Delhi, October 31 () The waiver of the deposit deposit for road projects in EPC mode is a relief for medium-sized road players, the Icra rating agency said on Thursday. Instead of the tender guarantee, tenderers are now required to sign a tender guarantee declaration accepting that if they withdraw or modify the tenders […]]]>

New Delhi, October 31 () The waiver of the deposit deposit for road projects in EPC mode is a relief for medium-sized road players, the Icra rating agency said on Thursday. Instead of the tender guarantee, tenderers are now required to sign a tender guarantee declaration accepting that if they withdraw or modify the tenders during the period of validity or if they do not present a performance guarantee for the contract awarded before the deadline, they be suspended from participation in the tender process for one year. The decision by the Ministry of Road Transport and Highways (MoRTH) that all nodal agencies for the implementation of national road projects – NHAI, MoRTH and National Highways and Infrastructure Development Corporation (NHIDCL) – will no longer be required to apply for Bid Guarantees Money Deposit / Bid Security) for Engineering, Procurement and Construction (EPC) projects is a welcome step, he said. “This waiver is a relief for midsize entrepreneurs, especially at a time when players are struggling to get improvements within limits not based on funds,” Icra said in a statement. Central road implementing agencies ask for 1 percent of the contract value as bid security and the same value is higher for other central government agencies at 2.5 percent. Depending on the success rate of the bids (which generally varies between 10 and 30%), the value of the contracts for which the bidding process and, therefore, the requirement for bid bond guarantees vary for each contractor. Shubham Jain, Executive Vice President and Group Head, Corporate Ratings, Icra said: “For every 100 crore rupees added to a new order, entrepreneurs need approximately 6.25 crore rupees. guarantee plus a margin to secure the bid bond guarantees; that would be released now. In addition to freeing up margin money that can now be used to cover working capital needs, the waiver would also result in savings on bank guarantee commission fees which will go directly to the bottom line. ” Regarding the bid security statement, Jain added, “Prohibiting contractors from participating in the bidding process for a period of one year in the event of non-compliance is a good deterrent to eliminate offending players. Otherwise, the tendering process would lose its sanctity. Overall, this is a win-win for both parties. ”GAB NAM

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Waiver of the positive tender guarantee for contractors: Icra https://mingkem.com/waiver-of-the-positive-tender-guarantee-for-contractors-icra-2/ https://mingkem.com/waiver-of-the-positive-tender-guarantee-for-contractors-icra-2/#respond Thu, 31 Oct 2019 07:00:00 +0000 https://mingkem.com/waiver-of-the-positive-tender-guarantee-for-contractors-icra-2/ Outlook October 31, 2019 6:59 PM IST Waiver of the positive tender guarantee for contractors: Icra perspectivesinde.com 1970-01-01T05: 30: 00 + 0530 New Delhi, October 31 (PTI) The waiver of the deposit deposit for EPC mode road projects is a relief for midsize road players, Icra rating agency said on Thursday. Instead of the tender […]]]>



Waiver of the positive tender guarantee for contractors: Icra







perspectivesinde.com

1970-01-01T05: 30: 00 + 0530

New Delhi, October 31 (PTI) The waiver of the deposit deposit for EPC mode road projects is a relief for midsize road players, Icra rating agency said on Thursday.

Instead of the tender guarantee, tenderers are now required to sign a tender guarantee declaration accepting that if they withdraw or modify the tenders during the period of validity or if they do not present a performance guarantee for the contract awarded before the deadline, they be suspended from participation in the tender process for one year.

The decision by the Ministry of Road Transport and Highways (MoRTH) that all nodal agencies for the implementation of national road projects – NHAI, MoRTH and National Highways and Infrastructure Development Corporation (NHIDCL) – will no longer be required to apply for Bid bond guarantees (down payment / bid bond) for engineering, procurement and construction (EPC) projects is a welcome step, he said.

“This waiver is a relief for midsize entrepreneurs, especially at a time when players are struggling to secure improvements within limits not based on funds,” Icra said in a statement.

Central road implementation agencies ask for 1 percent of the contract value as bid security and the same value is higher for other central government agencies at 2.5 percent.

Depending on the success rate of the offers (which generally varies between 10 and 30%), the value of the contracts for which the offer and, therefore, the requirement for bid bond guarantees vary for each contractor.

Shubham Jain, Executive Vice President and Group Head, Corporate Ratings, Icra said: “For every 100 crore rupees added to a new order, entrepreneurs need approximately 6.25 crore rupees. guarantee plus a margin to secure the bid bond guarantees; that would be released now. In addition to freeing up margin money that can now be used to cover working capital requirements, the waiver would also result in savings on bank guarantee commission fees that will go directly to the bottom line. “

Regarding the bid security statement, Jain added, “Prohibiting contractors from participating in the bidding process for a period of one year in the event of non-compliance is a good deterrent to eliminate offending players. Otherwise, the tendering process would lose its sanctity. Overall, this is a win-win for both parties. ”PTI NAM ABM


Disclaimer: – This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI



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Modification of the Karnataka solar policy – Increase in the amount of the tender guarantee for the group’s captive projects https://mingkem.com/modification-of-the-karnataka-solar-policy-increase-in-the-amount-of-the-tender-guarantee-for-the-groups-captive-projects/ https://mingkem.com/modification-of-the-karnataka-solar-policy-increase-in-the-amount-of-the-tender-guarantee-for-the-groups-captive-projects/#respond Wed, 23 Oct 2019 07:00:00 +0000 https://mingkem.com/modification-of-the-karnataka-solar-policy-increase-in-the-amount-of-the-tender-guarantee-for-the-groups-captive-projects/ The Karnataka State Solar Policy 2014-21 has been amended for the third time and addresses three important points – limiting the size of private solar farms, the performance guarantee for captive group projects and the project completion deadline for captive, captive power producers group and independent (IPP) for third parties sell. The amended policy which […]]]>

The Karnataka State Solar Policy 2014-21 has been amended for the third time and addresses three important points – limiting the size of private solar farms, the performance guarantee for captive group projects and the project completion deadline for captive, captive power producers group and independent (IPP) for third parties sell.

The amended policy which will take effect immediately states that for the promotion of integrated solar parks, the capacity will now be limited to a maximum of 100 MW at one location compared to previous directives which stipulated that the minimum capacity for the private solar park park was 25 MW. However, it will be subject to the overall limit of 200 MW / taluk and will not include projects that are implemented on solar rooftops.

Although the fees remain the same for the tendering process, power bundles and roofing projects, the government has made some changes to the categories of captive, group captive and PPI for sale to third parties. .

The recent notification states that captive, group captive and IPP projects for sale to third parties will have a uniform facilitation fee of 25,000 (~ $ 352.96) / MW.

However, for captive and group captive projects, the amount of the bid security has been increased to 500,000 (~ $ 7,059) / MW from 300,000 (~ $ 4,235) / MW previously.

A net worth of 30% of the capital cost determined by the Karnataka Electricity Regulatory Commission (KERC) from time to time is mandatory for captive and group captive, which was not necessary before.

In the previous Karnataka State Solar Policy Amendment 2014-21, it was regulated that for captive, group captive and IPP solar projects for sale to third parties, a transfer fee of 150,000 (~ $ 2,198) / MW and an annual fee extension will be billed from 100,000 (~ $ 1,465) / MW for the first year of the extension.

According to the previous policy for solar parks, the bidder is expected to have a net worth of 20 million yen (approximately $ 0.28 million), but this has now been changed. The amended policy states that the bidder must have a net worth of 30% of the cost mentioned in the detailed project report (DPR). A bid security amount of 500,000 (~ $ 7,059) / MW must be provided in accordance with the amendment; it was bad earlier.

Private solar farms have 18 months for completion, and solar projects in those solar parks have 12 months to be put into service from the date the solar farms are completed. Thus, the overall period allocated for commissioning solar projects in a private solar park is 30 months from the date of allocation of the solar park.

“If the developer does not commission the solar projects in a private solar farm within 30 months of the award date, the award will automatically be canceled. If the capacity of the solar park is partially developed within the overall period of 30 months from the date of allocation, the allocated capacity will be limited to the capacity brought into service and the remaining capacity will be considered canceled, ”the notification specifies.

Clarifying that the commissioning timeframe is 30 months instead of 18 months is good for the industry, while increasing the amount of bid security can make it onerous for PPIs. As most states have made it extremely difficult to obtain open access solar energy, the group captive has become a more attractive model.

In August 2019, the Ministry of New and Renewable Energies (MNRE) also released new guidelines incorporating changes in the project schedules for the development of solar parks in the county.

According to central government estimates, Karnataka has become the best Indian state for rooftop solar projects. Last year, Mercom released a research report that gave Karnataka the top spot among all states pursuing the expansion of large-scale solar projects.

Image credit: Speed ​​Solar



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