Commercial Bids. 18.6.1 The Bidder is required to quote in Indian Rupees (‘INR’/ ‘`’). Bids in currencies other than INR may not be considered.
18.6.2 While any increase in the rates of applicable taxes or impact of new taxes subsequent to the submission of commercial bid shall be borne by SIDBI, any subsequent decrease in the rates of applicable taxes or impact of new taxes shall be passed on to SIDBI in its favour. This will remain applicable throughout the contract period.
18.6.3 The Commercial Bid should be submitted in the format prescribed in the RfP. Consideration of commercial bids, not submitted as per requisite format, will be at the discretion of the bank.
Commercial Bids. The Trust shall evaluate first the ‘Pre-qualification/ Minimum Eligibility Bid and based on its evaluation, ‘Commercial bids’ shall be opened only for the short-listed bidders. The evaluation will be undertaken by a Committee of Officials or/ and representatives formed by the Trust and its decision will be final. During evaluation of Bids, the Trust, at its discretion, may ask the Bidders for clarifications of their Bids. The request for clarification and the response shall be in writing (Letter/e-Mail), and it should be submitted within the time stipulated by the Trust. No change in the price of substance of the Bid shall be sought, offered or permitted. The Trust will award the contract to the successful bidder whose bid has been determined to be substantially responsive and has been determined as the Lowest Commercial bid (L1).