What is Rate List contract?
In percentage rate contracts, the department draws up the schedule of items according to the description of items sanctioned in the estimate with the quantities, units, rates, and amounts shown therein. When the department fixes the rate of an item it is known as “Item Rate Contract”.
What is DGS&D rate contract?
The DGS&D’s Rate Contracts provide government buyers with bulk rate pricing, saving them the hassle of frequent re-tendering and allowing them to buy at the same rate throughout the year. This, in turn, allows government agencies to manage their budgets and inventory more efficiently.
What is annual rate contract?
A Rate Contract or a Rate Agreement (RC in short) is a procurement cost reduction strategy aimed at standardizing procurement prices for commonly procured, homogenous and price varying inputs.
What is a running contract?
—The Running Contract is one under which, during the period of its currency the contractor engages to supply, and the other party to the contract to take, a specified quantity (with a percentage tolerance either way) of materials, as and when ordered, at fixed unit rates or prices, within a given period of the receipt …
How do you find contract rate?
The usual procedure for forming a rate contract involves the issuing of tenders by the purchasing party. The inviting bids are evaluated by the purchaser and the best suited bid is given the tender consequently.
What is the full form of DGS and D?
Directorate General of Supplies and Disposals (DGS&D) under Ministry of Commerce and Industry is a central purchase and quality assurance organisation.
What is GeM SPV?
The Government e Marketplace Special Purpose Vehicle (GeM SPV), a Section 8 (Non-Profit) Private Limited Company under the Ministry of Commerce has been incorporated under the Companies Act, 2013 to develop, manage and maintain the GeM platform.
What is rate contract in procurement?
• Rate Contracts. —The Rate Contract is a contract under which, during the period of its currency, the contractor engages to supply materials on demand, irrespective of quantity, at fixed unit rates or prices, within a given period of the receipt of such demand.
What is the full form of DG shipping?
The Directorate General of Shipping is an attached office of the Ministry of Ports, Shipping and Waterways, Govt. of India and deals with all executive matters, relating to merchant shipping.
What is DGS&D certificate?
DGS&D Certification Service is the central purchase organization of the Indian government, functioning under the Ministry of Commerce & Industry. Its role is to finalize the rate contracts to be used by Government departments to procure items of general use.
Is GeM a government company?
Government e Marketplace (GeM) is an online platform for public procurement in India. The initiative was launched on August 9, 2016 by the Ministry of Commerce and Industry, Government of India with the objective to create an open and transparent procurement platform for government buyers.
What is rate contract with example?
Example of an Item Rate Contract For example, a bill of quantities includes an item of work named reinforced cement concrete work and the estimated quantity by the client is 15000 Cum. Under the item rate contract, the contractor quotes a certain rate for this work package (Say Rs. 9306 per Cum).
What is the purchase preference for industrial tenders in Haryana?
Purchase preference upto 50% of the tendered quantities may be allowed to the Industrial Units located in Haryana on the lowest valid rates, provided The firm submits the registration certificate for the quoted items and valid purchase preference certificate issued by Industries Department along with the tender
What is the Haryana billing undertaking?
The firm submits an undertaking that their sales office for the purpose of billing is based in Haryana and all the billings are/will be raised from Haryana only
What is the desirability of embossing or engraving of Haryana government?
In case of steel based items or cement manufactured items, the desirability of embossing or engraving of the words ‘Haryana Government’ may be assessed so as to minimize any possible malpractices.
When will the ds&d process the indents received from departments?
The DS&D would process the indents received from the departments up to the 30th of April/ May/ June, as the case may be, by the 30th of July/ August/ September respectively.