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Published byBetty Fitzgerald Modified over 9 years ago
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1 Instructions to bidders Eligibility Procedure for clarifications Bid preparation - form Number of copies, addressee Language Pricing and currencies Modification and withdrawal Bid securities Bid submission procedures
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2 Instructions to bidders (cont.) Bid validity Closing date Opening time, date, place Corrections Bid evaluation criteria and procedures Domestic preferences Post-qualification Performance security
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3 Currency provisions Objective Remove currency risk from bidders to get best price Permit bidders to use strong currency in bid - to permit participation by weak currency countries Ensure fairness to all bidders in currency conversion comparison Permit borrower to requirelocal expenses to be quoted in local currency
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4 Currency provisions (cont.) Bid price in currency of bank member country or US$ or euro Borrower may require local costs in local currency Contract expressed in the currency in which price is stated
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5 Currency provisions (cont.) Payment Contract currency (bid currency) If expressed in borrower’s currency, protect original bid value Facilitate transfer of foreign currency payments
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6 Security bonds and guarantees Bid security (when required) Should not be too high 1 to 3% normal Fixed amount preferable
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7 Conditions of contract Rights and obligations of both parties Procedure for shipment, insurance inspection, documentation Procedure for measurement Procedure for change orders Procedure, terms and currencies of payment
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8 Conditions of contract (cont.) Procedure for performance securities Force majeure Procedure for damages, penalties for delay Procedure for termination Mode and form for settling disputes Applicable law
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9 Contract Buyer and seller More important Agree to terms, have the right to demand performance This promise to do or not to do something, is enforceable by law and incorporates remedial rights for non performance
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10 Special conditions of contract Provides contract-specific information to corresponding clauses in GCOC Definition of the purchaser- supplier Specific amount of performance security Specific procedures for inspection and testing
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11 Special conditions of contract (cont.) Special requirements for: Packing, delivery Documents Insurance Incidental services Spare parts Warranty
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12 Special conditions of contract (cont.) Specific payment terms / currency Liquidated damages Resolution of disputes Governing language
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13 Payment terms Follow Commercial practices Payment on proof of shipment Payment through letters of credit Payment after installation Bank guarantee for warranty
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14 Inspection Pre-shipment inspection Dimensional checking Overall dimensions, tolerances, surface alignment, centering, straightness, etc. Performance testing Visual equipment inspection Packing and marking inspection Commissioning & testing
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15 Insurance conditions Type, assured, co-assured Goods insured, evaluation basis Voyage, conveyances Duration of risk Claim settlement and procedure
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