Advantages Of Tendering

ADVANTAGES OF TENDERING

v As advertisement is given in 3 prominent newspapers society will get good offers from reputed developers.

v As offers are invited in a sealed tender form, there is a severe competition among the bidders.

v As all the specifications and terms and conditions are same for all the bidders, it becomes easy for comparison and evaluation.

v Earnest Money Deposit in the form of PAY ORDER  payable to the society is taken from each and every bidder so that unwanted or non interested parties do not bid for the work

v Mode of measurement of carpet area and person who will certify the same is clearly defined.

v Entire redevelopment proposal to be done in society’s name making it safer for society in case of any problems faced by developer.

v Right to change and or remove developer stays with the society.

v As all the details pertaining to commercial terms such as Bank Guarantee, temporary accommodation, cost of additional area etc is clearly defined the chances of ambiguity and disputes are virtually non-existent.

v Detailed technical methodology of work is laid out in the tender document under the head of technical specification.

v Basic rates are mentioned in the tender document enabling members to change any specification for their individual uses.

v Right to check amendments of plans during the progress of work is kept with the society.

v Material to be used is spelt out with brand names to avoid any confusion.

v As all the items are defined clearly the chances of getting realistic offer are excellent.

v Consequences of delay are defined in tender document.

v Tender is a legally binding document.

v Bye Law No 158 recommends need of tender document for construction of building.

After a proper feasibility report is submitted, the next step in the process of Redevelopment of any society is the most important one, viz: Selection of the PERFECT DEVELOPER, who will meet all the needs of the society, and at the same time be financially stable, and having a lot of experience of Redevelopment because unrealistic offers can often lead to redevelopment projects being stalled and leave residents in a fix.

This is achieved by the process of tendering, wherein the PROJECT MANAGEMENT CONSULTANT will float a tender document containing all the Legal, Technical, and Commercial & Other important Terms & Conditions, whereby maximum safety of the society members is ensured, as they are parting with their life's most valuable possession.... their house, in the hands of a perfect stranger.