Request for Empanelment(RfE) of Asset Monetization Consultants 1 June 28, 2021 Request for Empanelment (RfE) of Consultants for the purpose of Asset Monetization Study/Commercialization Strategy/ Business Plan, Specific Techno-Economic Feasibility Study and Transaction Advisory/Bid Process Management by Mumbai Port Trust
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Request for Empanelment(RfE) of Asset Monetization Consultants
1 June 28, 2021
Request for Empanelment (RfE) of Consultants for the purpose of
Asset Monetization Study/Commercialization
Strategy/ Business Plan,
Specific Techno-Economic Feasibility Study
and Transaction Advisory/Bid Process
Management
by
Mumbai Port Trust
Request for Empanelment(RfE) of Asset Monetization Consultants
2 June 28, 2021
BID SCHEDULE
Sr
No.
Particulars Date Time
1 Tender e-publication date 28.06.21 10.00 Hrs
2 Document Download start date 28.06.21 10.00 Hrs
3 Document Download End date 19.07.21 15.00 Hrs
4 Pre- bid Meeting date
(Through V.C. Link)
08.07.2021 15.00 Hrs
5 Bid Submission Start date 12.07.2021 10.00 Hrs
6 Bid Submission End date 19.07.21 15.00 Hrs
7 Technical Bid Opening date 20.07.21 15.00 Hrs
Note :
1. Pre-bid queries can be sent to [email protected]. 2. Contact Person Shri. Sarbodaman Mukherjee- ADSM, MbPT- 9819876228 3. Interested Bidders may obtain further information inspect the tender documents at
the e-Procurement website https://epublish.gov.in and www.mumbaiport.gov.in 4. Bid Submission
The bid submission will be in physical mode. The sealed bid documents will be received by the office of Estate Manager, Estate Division,3rd floor, Vijaydeep, S.V. Marg, Ballard Estate, Mumbai - 400 001 by post /courier or in person up to 3.00 PM on bid submission end date. Late bids will not be accepted.
Request for Empanelment(RfE) of Asset Monetization Consultants
4 June 28, 2021
1. Introduction Mumbai Port is located on the West Coast of India. Most of its landed estate
lies in South Mumbai on the Eastern waterfront. South Mumbai is one of the
most premium locations in the country and thus the economic value of
Mumbai Port's land parcel is expected to be significant. MbPT is in the process
of revamping its activities with an introduction of Tourism, public and office
spaces by way of the Master planning of about 500 Ha. This will open up the
Eastern Waterfront to the residents of Mumbai and suburbs.
The assets of Mumbai Port Trust(MbPT) are diverse and spread across the
eastern waterfront and other areas of Mumbai and at Titwala .
These assets could be categorized broadly, into the following classes:
a) Land & Buildings
b) Port Operational Assets such as berths, launches, etc.
c) Brown-field operational assets such as pipelines, rail and roads, mobile
towers, industrial tank farms, etc.
Many of the assets are sub-optimally utilised and can be appropriately
monetised to create greater financial leverage and value for MbPT.
MbPT intends to monetize the non-core and undervalued assets using
appropriate model.
2. Proposal
1.1 Mumbai Port Trust (MbPT) proposes to empanel International
Property Consultancy firms (IPCs) or any other firms engaged in
transaction advisory services and asset monetization who will assist
MbPT in formulating the monetization strategy w.r.t. land and
building, conducting techno-economic feasibility studies of each of
the assets, provide end-to-end transaction advisory services and
ensure completion of transactions for monetization of the same.
Request for Empanelment(RfE) of Asset Monetization Consultants
5 June 28, 2021
1.2 In pursuance of above, MbPT invites proposals from interested firms
(the “Proposals”) for Empanelment as Consultant (the “Consultant”)
who shall assist and undertake delivery of services as listed above in
Paragraph 2.1, and detailed further under the section “Scope of
Work”.
1.3 In the first stage of the process, technically qualified firms will be
empanelled. Bids will be called from amongst these empanelled
technically qualified firms for conducting the asset monetization
study, feasibility studies and providing transaction advisory services
for monetization of specific assets.
1.4 However, MbPT reserves the right to entrust the monetization of any
asset including Land and Buildings in the case of specific cases,
through open tender for technical and financial bids for conducting
the feasibility studies and providing transaction advisory services or
otherwise.
3. Scope of Work
4.1 Phase 1 – Preparation of Asset Monetization Strategy / Business Plan for Land, Buildings and other Assets
4.1.1 This would include a study of existing reports, detailed market
assessment and regional study as well as benchmarking of similar assets. The consultant shall study the present status of all the available
assets, proposal of Development plan, DCPR, permissible activities, constraints on the development, other statutory provisions, Land policy guidelines of MbPT. The output of the study would be a Business Plan
and Strategy Document consisting of a detailed mapping of assets with valuation. The document would recommend the timing and appropriate
model of monetization after a detailed analysis of all possible use cases, present and future revenues. The output shall finally provide the short-
term, mid-term and long-term plan. 4.1.2 The above scope of work is indicative and the detailed scope of work
shall be provided at the time of bid.
4.2 Phase 2 – Preparation of Asset-Specific Techno-economic Feasibility Study and Transaction Advisory
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4.2.1 Based on the broad level business plan, MbPT would identify specific assets for a techno-economic feasibility study followed by transaction
advisory. 4.2.2 In case of Land and Buildings, the Asset-Specific Techno-Economic
Feasibility study would involve a detailed site level analysis, real estate micro-market assessment, analysis of all possible uses such as
logistics, clean industry, hospitality, commercial office, retail, etc. and benchmarking of similar asset transactions and developments. In case the technical and financial study concludes that the subdivided land
will have more potential for leasing, the consultant shall prepare detail proposal for approval of subdivision, infrastructure designs, and obtain
all the necessary approval of statutory authorities including the planning authority.
4.2.3 In case of brownfield operational assets or other assets, the Asset-
Specific Techno-Economic Feasibility study would involve an asset-
specific study conducted by a suitable expert including a detailed market assessment, analysis of possible target segments, accurate
valuation of the asset through a Government approved valuer, benchmark development and transaction of similar assets.
4.2.4 The Asset-specific Feasibility study would end with a detailed financial
analysis of all possible use cases, target segments and transaction
models.
4.2.5 Based on consideration and approval of the techno-economic feasibility study and recommended model of transaction, the consultant shall
proceed to create the bid documents complete with the detailed asset datasheet/project report, the legal agreement, eligibility criteria and payment terms.
4.2.6 After floating of the tender, the consultant shall assist in reaching out
to bidders through marketing and publicity efforts such as advertisements, roadshows, creation of attractive hard and digital
brochures and pamphlets, etc., the cost of which will be borne by the Consultant. The consultant shall attempt to increase participation in the e-tender-cum-e-auction (using the portal being used for all other
tenders by MbPT), conduct the pre-bid meeting of all bidders, etc.
4.2.7 The consultant shall assist MbPT in the conduct of the e-tender-cum-e-auction. On receipt of bids, the consultant shall evaluate the bids
received for completeness and accuracy of submitted information and inform the winner of the bid to MbPT.
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4.2.8 The Consultant shall ensure the legality of all documents for the transaction and also ensure the transaction is completed up to the
deposit of funds in the treasury of MbPT.
4.2.9 While inviting bids for specific asset monetisation, MbPT may add or modify the scope depending on its requirement.
4.2.10 Under the Phase-2 scope of work, the Maximum Number of
assignments which a Consultant can carry out at one point of time is
restricted to 04 (Four). The consultant carrying out 04 (Four) Nos. of assignments of MbPT at a time, shall not be allowed to participate in
tendering process. Unless otherwise decided by MbPT, the asset for which the transaction has been completed up to deposit of funds in the
treasury of MbPT shall be treated as completed assignments. MbPT reserves the right to modify the cap of 04 assignments per Consultant depending on the total number of assets to be monetized.
Note: MbPT may take the services included in Phase-2 of the Scope of
Work without inception/completion of Phase -1 which is the Business
plan from the empaneled consultants, however, the consultant in such
cases shall be required to review the business plan in its draft or
completed stages and suggest any alternate changes which may be
required for highlighting the current dynamics and/or improving the
returns from the project.
4. Eligibility
In this document, unless the context otherwise requires, reference to a firm
shall be construed as reference to any International Property Consultant Firm
(IPC) or any other firms engaged in transaction advisory services for asset
monetization.
5.1 The firm should have completed at least 7 transaction advisory
projects in the last 10 calendar years (1.1.2010 to 31.12.2020) w.r.t.
monetization of land and building or experience in ReIT listing or any
other mode of monetization of property assets of reputed Public/ Private
organizations or PPP (Public Private Partnership) transactions
5.1.1 Out of the above 7 projects, at least two projects should be at the
International level and at least one project should be from Maharashtra.
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5.1.2 The minimum transaction amount should be INR 100 crore per project
Note: The experience of the projects where the final agreement is signed
shall only be considered.
5.2 The firm should have received a minimum of INR 20 crores (Rupees
Twenty crores) per annum as professional fees* during each of the last
five financial years (01.04.2016 to 31.03.2021). Professional fee*
received by Indian firm/subsidiary only shall be considered.
*Professional fee should be duly certified by statutory body like Chartered
Accountant or Independent Auditors who are competent to do so as recognized
by the State concerned.
5.3 The firm should not have been blacklisted/ debarred by any Govt.
entity or any PSU in India as on the date of bid submission.
5. Period of Empanelment
Period of engagement will be initially for 1 year. Period of engagement can be
extended for a period of 3 years, with same terms and conditions. Each
extension will be for a maximum period of 1 year.
6. Pre-Bid Meeting
The interested parties are required to send in their queries, if any, by e-mail
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Notes: The mode of execution of the Power of Attorney should be in accordance with the procedure, if any, laid down by the applicable law and the charter
documents of the executant(s) and when it is so required the same should be under common seal affixed in accordance with the required procedure.
Wherever required, the applicant should submit for verification the extract of
the charter documents and other documents such as a resolution/power of attorney in favour of the person executing this Power of Attorney for the delegation of power hereunder on behalf of the applicant.
For a Power of Attorney executed and issued overseas, the document will also
have to be legalized by the Indian Embassy and notarized in the jurisdiction where the Power of Attorney is being issued. However, the Power of Attorney
provided by Applicants from countries that have signed the Hougue Legislation Convention, 1961 are not required to be legalised by the Indian Embassy if it carries a confirming Appostille Certificate.
19. Annexure-3: Undertaking for Substitution of Key Personnel
We, the undersigned, hereby declare that
1. the Key Personnel will be available for the entire term of the
empanelment.
2. Key Personnel will not be substituted except for reasons of any
incapacity due to health or resignation. Such substitution shall ordinarily be limited to one Key Personnel subject to equally or better qualified and experienced personnel being provided to the satisfaction
of the Authority/MbPT.
3. We understand that substitution of experts will not normally be considered during the period of empanelment. We have proposed only
such Expert who will be in a position to commit the time required for and be available for delivering the Consultancy during the period of empanelment.
Signature
Name, Title and Place
Request for Empanelment(RfE) of Asset Monetization Consultants
23 June 28, 2021
20. Annexure-4: Affidavit-cum-Undertaking
We, the undersigned (“Bidder”) are submitting our bid in respect of the
Request for Empanelment No. [●], Dated [●] (“Bid”) issued by Mumbai Port
Trust (MbPT) in relation to [●] and in this connection we hereby solemnly
affirm, declare and undertake as follows:
(1) Details of the Bidder as disclosed in Appendix-A enclosed herewith are
true and correct as on date.
(2) There has been no conviction by any court of law or indictment or
adverse order by any statutory or regulatory authority for a Grave
Offence against us or any of our Indian Sister Concern(s) or any of our
promoters or directors or that of our Indian Sister Concern(s) during the
last ten financial years.
(3) No enquiry or investigations for any Grave Offence is pending against
us or any of our Indian Sister Concern(s) or any of our or our Indian
Sister Concern’s directors, managers and/or other Senior Managerial
Personnel by any regulatory authority and/or government agency.
(4) The details of enquiry or investigations for non-Grave Offenses pending
against us/our Indian Sister Concern(s)/ our or our Indian Sister
Concern’s directors, managers and/or other Senior Managerial
Personnel by any regulatory authority and/or government agency are
disclosed in Appendix-B enclosed herewith.
(5) There is no Conflict of Interest with respect to the contract as on date.
(6) During the tenure of our engagement for the contract, we shall keep
MbPT informed, without delay, of any situations, circumstances,
relationships, possible source or potential areas of Conflict of Interest
in the format enclosed as Appendix-C herewith and we shall not take
up work in relation to any such assignment without obtaining prior
approval of MbPT and granting of such approval shall be the sole
discretion of MbPT and shall be binding on us.
(7) We ourselves and/or for/with or in association with or on behalf of or
through any other Entity, shall not take up any advisory or consulting
Request for Empanelment(RfE) of Asset Monetization Consultants
24 June 28, 2021
assignment or render any services on a similar transaction or any other
transaction, which could have a direct Conflict of Interest, in any
manner or capacity to a Competitor of MbPT during the term of our
engagement in respect of the contract without prior written approval of
MbPT and granting of such approval shall be the sole discretion of MbPT
and shall be binding on us.
(8) We have put in place a robust mechanism to resolve any Conflict of
Interest situations and circumstances that may arise or result while
conducting our business or rendering of services and where-so-ever any
Conflict of Interest or potential for Conflict of Interest may arise, we
shall take reasonable steps to resolve the same forthwith in a fair and
equitable manner. During the term of our engagement we shall ensure
to and continue to exercise adequate due diligence for identifying and
removing any areas, source, situations and circumstances of conflict
and mitigating the effects of such conflicts to the satisfaction of MbPT,
in case any such Conflict of interest (or apparent conflict of interest)
arises or results in relation to the contract.
(9) We have laid down an internal code of conduct for governing our
internal procedures and operations and have prescribed the standards
of appropriate conduct for our employees and officers for carrying out
their duties and responsibilities with a view to appropriately ensuring
proper maintenance of professional excellence and standards with
integrity, confidentiality, objectivity and have made provisions for
identification, avoidance and resolution of conflict of interests and for
disclosure of shareholdings and interests, etc., in terms of applicable
laws.
(10) We shall make available to the authority any additional
information it may find necessary or require to supplement or
authenticate the bid.
(11) We acknowledge the right of the authority to reject our bid
without assigning any reason or otherwise and hereby waive, to the
fullest extent permitted applicable law, our right to challenge the same
on any account whatsoever.
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(12) We understand that you may cancel the bidding process at any
time and that you are neither bound to accept any bid that you may
receive nor to invite the bidders to bid for the project without incurring
any liability to the bidders.
(13) We understand that in case of any change in facts or
circumstances during the bidding process, we are attracted by the
provisions of disqualification in the RFE, we shall intimate the authority
of the same immediately.
(14) We hereby irrevocably waive any right or remedy which we may
have at any stage at law or howsoever otherwise arising to challenge or
question any decision taken by the authority in connection with the
selection of the bidder or in connection with the bidding process itself,
in respect of the above mentioned RFE and the terms and
implementation thereof.
(15) We have studied all the bidding documents carefully, we shall
have no claim, right or title arising out of any documents or information
provided to us by the authority or in respect of any matter arising out
of or relating to the bidding process.
(16) We agree and understand that the bid is subject to the provisions
of the bidding documents. In no case we shall have any claim
whatsoever nature if the project/concession is not awarded to us or our
bid is not opened or rejected.
(17) We agree and undertake to abide all the terms and conditions of
the RFE document.
(18) We understand that:
(i) in cases where existing Conflict of Interest (or apparent conflict of
interest) is disclosed by us, MbPT would be entitled to initiate
appropriate actions to eliminate or address or mitigate or neutralize
the conflict through restricting or modifying the work to be
performed by us in respect of the contract.
Request for Empanelment(RfE) of Asset Monetization Consultants
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(ii) MbPT may also terminate our engagement for the contract, in whole
or in part, if such termination is absolutely necessary in the view of
MbPT to avoid the appearance of a Conflict of Interest situation.
MbPT would be entitled to terminate our appointment, if any, if the
affirmation/declaration/undertaking given by us is found to be false
or misleading in any manner or not adhered or fulfilled or complied
by us.
(iii) If at any time after our appointment as an empaneled firm, either we
or any of our Indian Sister Concerns or the respective
promoters/directors, is convicted by a court of law in India or any
indictment/adverse order is passed by a regulatory authority in
India for a Grave Offence, we shall stand disqualified from
continuing as an Advisor to MbPT and shall be bound to inform them
without any delay and shall voluntarily withdraw from the contract,
failing which MbPT may terminate our appointment after giving an
opportunity of being heard.
Definitions
Unless otherwise defined in this Affidavit, the following capitalized terms used
herein shall have the meaning as set out below:
1. Advisor means the Bidder and includes bidder(s) who have been selected
and empaneled for Asset Monetization by Mumbai Port Trust(MbPT) in terms
of the Bid.
2. Conflict of Interest: Conflict of Interest in relation to the contract shall,
without limitation, be deemed to exist or have arisen, if:
(i) The Advisor whether itself and/or for/with or in association with/or
on behalf of or through any other Entity is engaged in any activity
or business which would or may be reasonably expected to directly
or indirectly, materially adversely affect the interest of MbPT or any
such activity/association would or may impair his ability to render
fair, impartial, technically sound and objective assistance or advice,
or unbiased services or may result in giving an unfair competitive
advantage to any other person.
(ii) The Advisor whether itself and/or for/with or in association with/or
on behalf of or through any other Entity is engaged in advising
Request for Empanelment(RfE) of Asset Monetization Consultants
27 June 28, 2021
and/or have taken up engagement for advising/consulting any other
Entity whether under a formal engagement or otherwise in relation
to any transaction/matter (“Third Party Transaction”), which would
or may be reasonably expected to directly or indirectly, materially
adversely affect the interest of MbPT.
(iii) The Advisor has any business or financial interests in any other
Entity that would impair or give the appearance of impairing
impartial decisions in relation to contract, in offering any advice
recommendations or in providing technical assistance or other
services to MbPT as part of Advisor’s engagement obligations/duties.
(iv) Any other situation, possible source or potential areas of interests,
which may impair Advisor’s ability to render fair, impartial,
technically sound, and objective assistance or advice, or unbiased
services or in conflict of their professional duties towards MbPT in
respect of the contract or result in giving an unfair competitive
advantage to any other person.
3. Competitor of MbPT would mean any organization with substantial real
estate to be divested in and around Mumbai in case of Land and
Building Assets, and other ports/infrastructure organizations who
intend to monetize similar assets as the Port-related assets belonging
to MbPT.
4. Entity shall mean and include an individual, proprietorship, HUF, an
association of person/body of Individuals, a partnership firm, limited
liability partnership, company or any other persons.
5. Grave Offence means offences of such nature that it materially affects
the reputation, business or operations adversely, or outrages the moral
sense of the community or such other offences which may be
considered by MbPT as grave on a case-to-case basis, after considering
the facts and relevant legal principles.
6. Contract means the transaction to be undertaken by MbPT as described
in bid no [●], issued by MbPT.
Request for Empanelment(RfE) of Asset Monetization Consultants
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7. Senior Managerial Personnel include the Managing Director, the
Company Secretary, the Chief Executive Officer, the Chief Financial
Officer or persons having equivalent positions and all such other
employees of the Entity, who are members of its core management team
excluding Board of Directors, and comprising all members of
management one level below the executive directors and include the
functional heads.
8. Sister Concern in relation to the Advisor, means any Entity in which
the Advisor has a significant influence or which has “significant
influence” over the Advisor.
9. Significant influence means holding of at least twenty percent or more
of total voting rights or the power to participate in and influence the
management, financial or operating policy decisions of that Entity, or
of business decisions under an agreement or having twenty percent
profit sharing in such Entity.
Appendix – A:
Bidder Details
Name of the Bidder
Address:
Registered Office:
Corporate Office Tel
Email
Constitution Company/Partnership/LLP/Others (If
Others, please provide the nature of the
constitution)
SEBI Registration no, if any
Details of Registration with other
professional statutory bodies
Appendix-B:
Details Of Pending Enquiry/Investigations
Sr.
No
.
Name of the Sister
Concern(s)/concer
ned person(s)
against whom the
enquiry/investigati
Relatio
n
ship
with
the
bidder
Name of
the
investigati
ng agency
Nature of pending
enquiry/investigat
ion and law under
which the enquiry
has been initiated
Brief facts/interim
orders /other
relevant
information in
respect of the
pending
Request for Empanelment(RfE) of Asset Monetization Consultants
29 June 28, 2021
on has been
initiated
enquiry/investigat
ion
Appendix-C
Details of Present/Potential Conflicts/Facts Or Interests That May Be Deemed As
Potential Conflict Of Interest
Sr.
No.
Name of the Entity,
in which interests
or Conflicts exist/
may arise
Relation
ship of the
Bidder with
the Entity
Nature/
reason of
conflict/
potential
conflict
Duration of
the
subsistence
of conflict, if
any
Such other
information as
may be relevant
and material in
deciding whether
there is a
conflict/potential
conflict of
interest
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21. Annexure-5: Experience of the Bidder
Project Name Project
Description
Project Value
(Cr INR)
Regional /
National /
International
Note: Regional projects should be projects completed in Maharashtra
State
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22. Annexure-6: Summary and Curriculum Vitae of Key Personnel
Summary of Key Personnel
Key Personnel Name Education Relevant
Experience
(Years)
Number of
Projects as
per
requirement
Architect cum Urban
Planner
Real Estate Expert
Industrial/Warehousing/
Logistics/Infrastructure
Expert
Finance cum Transaction
Expert
Legal and PPP Expert
CV Format
Name Contact Details
Key
Personnel
Type
E.g. Architect cum Urban Planner
Experience XX years
Org Name MM/YYYY – MM/YYYY
Project 1 MM/YYYY – MM/YYYY
Project 2 MM/YYYY – MM/YYYY
……… ……….. ……….
Education Eg. MBA / Master in Planning, etc.
Institution 1 Degree 1 MM/YYYY – MM/YYYY
Institution 2 Degree 2 MM/YYYY – MM/YYYY
……. ……… ………
The detailed CV may be attached along with the above format
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23. Annexure-7: Financials of the organization
Financial Year Turnover (Revenues)
from Asset
Monetization
studies and
transaction advisory
projects.
Professional fee earned
through Asset
Monetization and
Transaction Advisory
projects
FY 2020-21
FY 2019-20
FY 2018-19
FY 2017-18
FY 2016-17
*Professional fee should be duly certified by statutory body like Chartered
Accountant or Independent Auditors who are competent to do so as recognized
by the State concerned.
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24. Annexure-8: Asset Monetization Methodology
Part 1: Asset Monetization Strategy / Business Plan
a. Key Inputs/Data required from MbPT
b. Key Studies with Tentative Timelines
c. Process for formulating the Business Plan/Strategy
d. Key Outputs which will be part of the Business Plan / Strategy
Part 2: Asset-Specific Techno-Feasibility Studies
a. Key Inputs/Data required from MbPT
b. Key Studies with Tentative Timelines
c. Process for completing the Techno-Feasibility Studies
d. Key Outputs
Part-3: Process Followed for transaction Advisory and value additions which
will be provided.
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25. Annexure-9: Bid Security Declaration
To be submitted on Bidder’s Company Letterhead
I/We understand that, as per Clause 11.1.6 of this RfE, bids must be
supported by a Bid Security Declaration in lieu of Earnest Money Deposit.
Accordingly, I / We, the authorized signatory of M/s.................................. ,
participating in the Empanelment of Asset Monetization for Mumbai Port
Trust(MbPT), do hereby declare that in the event we withdraw / modify our
bid during the period of validity Or I/we fail to execute formal contract
agreement within the given timeline OR I/we fail to submit a Performance
Security within the given timeline Or I/we commit any breach of Tender
Conditions / Contract which attracts penal action of forfeiture of EMD, I/we
will be suspended from being eligible for bidding / award of all future
contract(s) of MbPT for a period of three years from the date of committing
such breach.
We understand this Bid Securing Declaration shall cease to be valid if I we
are not the successful Bidder
Signature and Seal of Authorised Signatory of Bidder
Name of Authorized Signatory .................................
Company Name .......................................................