Description / Scope of Work
This tender invites sealed bids for the disposal of unserviceable store material from Islamabad Electric Supply Company (IESCO) Head Quarters in Islamabad, Federal Province. The disposal process shall be conducted through electronic bidding (e-bids) in accordance with the terms and conditions outlined in this undertaking document. Bidders are required to submit their offers on the basis of 'as is where is' condition, and the Chief Engineer (Material Management) IESCO reserves the right to accept, reject, or cancel the tender without assigning reasons. The bid validity period is 120 days from the date of submission.
Eligible bidders must submit sealed earnest money or bid security in the form of a CDR or bank guarantee in their own name, valid for 120 days and issued by any scheduled bank of Pakistan with a rating of A+ or above, in favour of the Chief Executive Officer IESCO Islamabad before the bid closing time. The earnest money will be refunded only after issuance of the Release Order to the successful bidder. Bidders must not be blacklisted by NGC, WAPDA, DISCOs, GENCOs, or any government department or organization. All bidders are required to inspect the store materials and satisfy themselves regarding quality and condition before submitting their offers, as no claims shall be entertained post-award.
Full payment of the accepted bid must be made unconditionally within 21 working days from the date of issuance of the Letter of Acceptance, failing which the earnest money shall be forfeited. Upon payment, IESCO will issue a Release Order authorizing collection of the material, which must be removed from the site within 21 working days; otherwise, rental charges at 1% per day of the total material value will be charged. The bidder is responsible for all weighment, counting, and loading of material. Government taxes including 18% GST and 10% Income Tax shall be applicable as per Federal Board of Revenue regulations. Interested bidders should contact the Material Management Directorate, IESCO Head Quarters, Islamabad for bid documents and further details. Bids will be opened as per the schedule specified, and the decision of the CEO IESCO Islamabad regarding any disputes shall be final.