Union Bank of India Tenders
Today in this guide, we will see the Union Bank of India tenders’ basic details which help you to understand the entire procedure about the UBI tenders facility.
Like various banks the Union Bank of India release some tenders as per the UBI bank requirement, the Union Bank of India try provides the best facilities to their employees and customer by using this they can provide the best output for their account holder.
First of all, you need to understand what is a tender? basically tender is an invitation for the contractor or the service provider to give the best bid for their services (any service providers like internet, computer, security, furniture, etc.).
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Financial institutes like banks invite bids for small or large projects, the service providers give their bid quotations that must be submitted within the fixed timeline.
Requirements for Union Bank of India Tenders:
- All vendors participating in Reverse Auction shall understand/accept and give an undertaking for compliance with the same to the Bank in the prescribed format Exhibit-A.
- Any vendor not willing to submit such an undertaking shall be disqualified for further participation respecting the procurement in question.
- Bidders need to sign integrity pact as per Bank‟s prescribed format & covers under integrity pact in advance or at the time of submission of integrity pact by authorized signatory on or before last date & time of submission of the bid with RFP fee & EMD cost. In case the bidder fails to submit an integrity pact on or before the last date & time of submission of the bid, the bid will be liable for rejection.
- Only vendors who have submitted integrity pact and prescribed undertaking to the Bank and who are technically qualified can participate in Reverse Auction relevant to the procurement for which RFP is floated.
- Transparency in Bids:
- All bidders will be able to view during the auction time the current lowest price in the portal. The bidder shall be able to view not only the lowest bid but also the last bid made by him at any point of time during the auction time.
There is a standard procedure in Union bank of India to invite the tenders as per their requirement, for example, the Union Bank of India required the premises on lease for opening the new UBI bank branch, so they provide all the details to you about their requirement like they want a place within 1 KM vicinity of there exiting UBI branch
The UBI bank also provides the required area, the basic valuation for the place on monthly basis. They provide the technical bid form to the contractor or service provider, the service provider needs to give all the required specifications about the place like Owner name, mobile number, location address with pin code, and some technical information like carpet area their dimension, availability of toilet or strong room.
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The services provider needs to give the building or shops details like the age of construction, access or distance from the main road, type of building, and pillars in the premises offered.
In the last section, the service provider needs to mention the rate details means the rate per sq. Ft. on lump-sum monthly rent, they also need to provide the municipal taxes with owner documents.
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