Contracts and Tenders

Yesterday, there was lecture of contracts and tenders in class. Some of the things which Sr. Professor  taught us, and I like to mention here:

1) To qualify, the tenderer has to meet the technical eligibility and financial eligibility. ( he must have carried out a work of similar nature of atleast 35% of the tender value, and the turnover in the qualifying period should be atleast 150% of the tender value).

2) L1 is valid, eligible, technically acceptable lowest bid tenderer.

3) The lowest bid tenderer need not be L1, if the above mentioned criteria valid and technically acceptable are not met.

4) The Tender Commitee has to consider the offer of such L1 only, whether to accept, to reject, or to negotiate.

5) If L1 backs out, CVC issued a letter in 2004 regarding this situation, that the only option available with Tender committee is to reject the tender, and re-invite the tender.