TENDERS AND TENDER DOCUMENTS

1. Tender Documents: One of the key tasks of the procurement committee is

preparation of tender documents. The documents specify the specific technical details
and basic project performance criteria. Tender documents for BOT projects normally
include information relating to: Detailed instruction to bidders on bidding proceedings
and the form of tender; Prefeasibility study undertaken for the project; Text of the
project agreement; Type of facility to be constructed and the proposed technology;
Technical specifications based on performance criteria; Description of the site
location and access to the site; Specification of the facilities to be provided by the
government authority; Timetable for completion of the construction work; Maximum
concession period; Statement of the financial requirements, including the minimum
committed equity; Proposed tariff, toll of fee structure and revenue sharing
arrangements; Nature, amount, period of validity and other principal terms and
conditions of security and warranties; Evaluation criteria and criteria for comparing
bids.
2. Sealed Tender: Document enclosed in a glued (sealed) envelope
and submitted in response to invitation-to-bid (ITB). Sealed bids received up to
the deadline date are generally opened at a stated time and place (usually in the
presence of anyone who may wish to be present) and evaluated for award of
a contract.
3. Tender Notice: It is process to call vendors for doing a certain job or provide certain
service at a competitive price. Usually done through press advertisements by Govt.
Bodies. Now a days it is also done on their web sites.
4. Earnest Money Deposit: Every tender, other than single tender shall be accompanied
by Earnest Money Deposit, not exceeding one percent of the value of the procurement
by means of a demand draft or bankers cheque or pay order.
5. Opening of tender: A bidding process that is open to all qualified bidders and where
the sealed bids are opened in public for scrutiny and are chosen on the basis
of price and quality. Also called competitive tender or public tender.
6. Contract Documents of a tender: A contract or tender document in construction
industry is an agreement between two parties which they intend to be legally binding
with respect to the obligations of each party to the other and their liabilities. The
contract thus binds the contractor to construct the works as defined, and the employer
to pay for them in the manner and timing set out.
7. General Conditions of a tender: The general conditions of contract may comprise
any of the standard forms of contract. The particular conditions adopted may contain
amendments or additions that the employer wishes to make to the standard conditions.
8. Specific Conditions of a tender: the quality of materials and workmanship to be
used, and methods of testing to be adopted to ensure compliance. The specification
usually starts with a description of the works to be constructed, followed by all

relevant data concerning the site, access, past records of weather, etc. and availability
of various services such as water supply, electric power, etc.

CONTRACTS

1. Legal Implication of contracts: the quality of materials and workmanship to be

used, and methods of testing to be adopted to ensure compliance. The specification
usually starts with a description of the works to be constructed, followed by all
relevant data concerning the site, access, past records of weather, etc. and availability
of various services such as water supply, electric power, etc.

Role of entrepreneurship: The role of entrepreneurship in economic development

varies from economy to economy depending upon its material resources, industrial
climate and the responsiveness of the political system to the entrepreneurial function.
The entrepreneurs contribute more in favourable opportunity conditions than in the
economies with relatively less favourable opportunity conditions.