Description / Scope of Work
The Islamabad Electric Supply Company Limited (IESCO) invites sealed e-bids for the disposal of unserviceable store material through competitive bidding. This tender, referenced as Tender No. 240, is issued by the Chief Engineer (Material Management) at IESCO Head Quarters in Islamabad, Federal Province. The disposal process is conducted on an as-is-where-is basis, with bidders required to inspect all listed store materials prior to submission and satisfy themselves regarding type, quality, and condition. IESCO reserves the right to accept, reject, or cancel any tender without assigning reasons, and may extend dates or withdraw items from sale as necessary.
Eligibility criteria require that bidders submit sealed earnest money or bid security in the form of a CDR or bank guarantee from any scheduled bank of Pakistan, valid for 120 days, with a minimum rating of A+ or above, issued in favour of the Chief Executive Officer IESCO Islamabad. The earnest money must be in the bidder's own name; bids lacking the required security will be rejected outright. Bidders must also undertake that their firm is not blacklisted by NGC, WAPDA, DISCOs, GENCOs, or any government department or organization. Each page of the undertaking must be signed and stamped by the bidder.
Full payment must be made unconditionally within 21 working days from the date of issuance of the Letter of Acceptance, failing which earnest money will be forfeited with no claim against IESCO. Upon full payment, IESCO will issue a Release Order authorizing the officer in charge to hand over the store material to the successful bidder, who must remove all material from the site within 21 working days or incur rental charges at 1% per day of the total disposed material value. The bid offer remains valid for 120 days. Government taxes, including 18% GST and 10% Income Tax, are applicable on the offered bid. Time extensions may be considered only on force majeure grounds with supporting evidence. For bid documents and submission details, contact the Chief Engineer (Material Management) at IESCO Head Quarters, Islamabad.