Add Deposit Agreement Countersignature with airSlate SignNow

Add Deposit Agreement countersignature

hello all welcome to another session of tenders and contract in the previous session we have talked about what is tender and how to write a tender notice and discuss which point should be there or which point should be taken care of while writing the tender notice today in this session we are going to see about pre-qualification of the contractor mode of submission of the tender and opening process of the tender so starting the session with pre-qualification of the contractor has tried to define or I have tried to explain what is pre-qualification of contractor in my own words as there is no such precise definition for this it is a concept so pre-qualification of the contractor is a process or a method developed by a client or government to select the contractors who can participate in tender or bidding process by submitting certain document asked by the client or government yes pre-qualification is a tool by which as a client you can decide who can be your who can fill the tender or who can be the part of tender process it is not open to all this documents can be either technical details of the firm or financial detail of the firm or it can be both so instead of inviting tenders publicly the contractors can be invited to apply for selection and registration as a qualified tender for this purpose the client in the government publishes an advertisement in leading newspaper the intending bidders are supplied with the pre-qualification documents generally prescribed forms or specific formats finalized by the client or the government these details can be asked about past experience of the contract or is complete major works in hand with the contractor technical person engaged if the contract is awarded to him financial capacity of come here the contractor equipments owned by the company or the contractor or any other relevant information regarding the project so to prequalify the contractor the government or the client may ask for this much kind of information the client may ask about the past experience that it may ask about the works in hand it is very necessary to know that how many how much walk is in currently hand of the contractor to check whether he's are able to cover up another work or not also to be details of the technical person and the financial capacity in etc so these are the information generally asked by the client of the government by doing the pre-qualification work the blank tender forms are then issued to only those contractors who in the judgment of the employer are adequate in the ask information yes here the employer that means client or the government will judge that what information as a contractor you are provided is correct or not is or it it is adequate 'add then and only then you will be given a blank tender form and you will be able to participate in the tender process in such cases the above information may be asked in a submitted to be submitted in a separate cover sometimes when the cost of work is huge there will be very few contractors who can qualify well in terms of huge cost work of in terms of huge that means for a project of about 100 crore thousand corrode or 500 corrode very few contractors are there who can qualify so in such case contractors can strengthen their hands by forming joint venture ventures so they can have a joint ventures for two or three contractors and they can qualify combinely in India this system of pre-qualification of the bidders has gained importance specifically with the massive projects being financed by the world it has now become a common practice for major or even medium works education works up to 50 legs tunnels underground structures etc but are being executed by the pre-qualification of the contractors so what are the criterias of pre qualification these are the major five criterias defined by the government for the pre-qualification it may vary to project to project or company to company but these are the five major so the first criteria is the financial strength of the company in which the client asked for the bank solvency certificate bank guarantee certificate turnover details of past three years or five years as a fine as a check of financial strength of the company the second criteria of the pre-qualification is past five year experience of the company to check in last five years what kind of project or what amount of project the company has covered up the technical person engaged if the contract is awarded to the contractor the fourth one is construction plant and equipment this is one of the important thing to check for a contractor that he has adequate equipment or plan to undertake the work and at last other considerations such as quality standards is a certification etc so these are the major five criteria for pre-qualification in government works now let me put your question for an example if you are a contractor you have submitted all these five types of documents which is being asked by your client as a client now how will you check that there are correct or not there should be an assessment criteria I hope you are getting my point what I am trying to say there should be an assessment criteria that if this much is submitted he is he can be qualified for the tender process so here are the assessment criteria the first four point carries nearly 90 percent of the weight age and the last is generally 10 percent and to prequalify the applicant must score generally at least 60% from the first four categories and 70% of the total points so by having 70% as a total point the contractor can prequalify and can fill up the tender or can be the part of bidding process so this was the case for pre-qualification of the contractor here I have only mentioned five criterias this can be a number of criterias I have mention of assessment criteria of 70% this may generally vary from company to company you can have your own a pre-qualification method this is also known as abbreviated as PQ method pre-qualification short term is PQ method so this depends on project to project company to company so moving forward with a second topic of the session which is mode of submission of the tenders now before starting the mode of submission of the tender here I would like to put a situation for you think if you are a contractor and you want to submit a tender how will you do it you cannot fill up the blank tender and put Cocotte your rates and give it to the client back that I have fill up my rates this is my final price now we will try to get the work it is not like that generally a four envelope method is used to submit the tender now what are this four envelope let us see so first of all envelope number one this envelope shall be Magnus envelope number one and shall contain the earnest money deposit in the form of indicated in the notice inviting tender the earnest money is a money or is a deposit taken as the guarantee that contractor is genuinely interested in taking up the world if contract is awarded to him it is generally one or two percent of the total cost over this EMD must be submitted in indicated form it given in notice inviting tender if it is being as in DD format demand reform at the contractor must submit it in demand reform it or if it is asked in a chat format it must be submitted in a check form it if you submit otherwise you shall be rejected from the tender process so that is your envelop number one moving forward envelope number two envelope number two Manda's envelope number two shall consist of following documents your envelope number two shall consist of covering later of the offer special features that contractor fields that are worth mentioning the solvency certificate from the bank the latest income tax clearance certificate of last financial year the list of similar nature and magnitude work carried out by the contractor details of plant and machinery available with the contractor details of technical person engaged by the contractor contractor here or tenderer the buddha the same complete detail of walks in hang at the time of submission of the tender these are the details which are being submitted in envelope number two which is marked as envelope number two so envelope number three this envelop also shall be marked as envelope number three and shall contain the price tender from width signature of the tenderer yes in envelope number three you will submit your final BOQ in which you have protect the rate for the work with the signature of your curve with the signature of the contractor or with the step of your company that will be in your envelope number three and that shall be marked as envelope number three at last envelope number four this envelope shall be large in size and shall contain the above-mentioned envelope number one to entry it should be properly sealed and shall end those on the outside phase tender for the name of project yes in envelope number four you don't have to mark it as number four you have to write on the outside face of that Ville up that tender for name of project and this envelope the this entire envelope number four must be mail or deposited at given register address of client or the government office to the concern Department so this is how you submit your tender by at my four envelope method envelop number one EMD envelope number two certain details envelope number three your coated rate of bill of quantities and envelope number four shall consist envelope number one two and three with the title tender for the project yes correct I hope we are very clear up to this point so moving forward with the last part opening process of the tenders so opening process of the tenders before starting with the topic I would again like to put a situation for you think if you are a client or his engineer or you are a government officer and you have to do the opening process of the submitted tenders or the submitted by the different contractors how will you do it really open it every one by one and check who has quoted what know that is in separate process for doing it so let us see what is the process yes here is the process for the opening of the tenders first of all you must need to check for the withdrawal correct you heard it correct you must check for the withdrawal envelope marked withdrawal are generally open first after a tender is submitted and before it is accepted in the tenderer has withdrawn his offer and if the notice of withdrawal is found that envelope is opened first and that tender is put aside and they are not the part of the tendering process once all the withdrawal offers as put it aside next is you have to open the envelope number four so the outer envelope Magnus number four shall be open in the office of the executive or the client in the presence of the represented of the contractor before opening the envelope it is verified that it is properly sealed and it must be countersigned by the opening person from the client sign after opening the envelope number for the envelope number one is being opened opening of the envelope number after the opening of the envelope number one it shall be checked that the contractor has submitted the earnest money deposit insert in the such format which is being asked by the client and the amount must be the same as being asked in the notice inviting tender so after opening the envelope number one client or clients engineer will check that that envelope consists of EMD is in the proper format and having the proper amount if it is not the contractor may be disqualified from the further process and ha n that contractors envelope number two and three will not be opened once it is found that the EMD is correct envelope number two is then open the details shall be scrutinized and the comments or conditions which have financial implications shall be evaluated by the client or his or his engineer now after opening the envelope number two the client or his engineer must verify all the documents and should check the comments or recommendations which have financial implications of the project this should be done for all the contractors whose envelope number one is found correct now at last envelope number three which is consisting of the final offer or the price tender or the bill of quantities which is quoted by the contractor is being opened on a separate date while opening the envelope number three on a separate date one of the higher authority who can take up decisions from the contractors and must remain present in order to give answers appears from the clients end so envelope number three must be open on the separate date after all the verification of the done of the documents of envelope number two envelope number three will be open on a separate day in the presence of client or his engineer as well as someone who for someone from the contractors and who can have the authority of take up decisions on that position or at that time so this was the entire process of opening of the tender in the next session what we are going to see is the scrutiny process of the scrutiny scrutinize ation process of the tender and other miscellaneous topics such as unbalanced under liquidated damage and so and so so I hope we are very clear about what is pre-qualification of the contractor what is mode of submission of the tender and what is the opening process of the tenders thank you for the watching in case of your any doubt you can always contact me on my mail or my number thank you so much