December 28, 2023
Proposal for Implementation Solution for Nepal Financial Reporting Standard (NFRS) 9
1st date of Publication: December 14, 2023 (Naya Patrika National Daily)
2nd date of Publication: December 28, 2023 (Rajdhani National Daily)
Proposal for Implementation Solution for Nepal Financial Reporting Standard (NFRS) 9 (Deadline Extension Notice)
Deadline for Submission: - January 11, 2024
Citizens Bank International Limited extends the deadline of its Bid for Implementation Solution for Nepal Financial Reporting Standard (NFRS) 9 as per the terms and conditions outlined below: -
- Tender Documents can be procured during office hours from General Service Department of the Bank at Head Office, Narayanhiti Path, Durbar Marg, Kathmandu upon payment of NPR 10,000.00 (Nepalese Rupees Ten Thousand only), at A/c no. 999-01290040101 nonrefundable, latest by 11:00 hours on January 11, 2024.
- Sealed Tenders should be submitted to Head Office of the Bank latest by 17:00 hours on January 11, 2024. Sealed tenders will be opened on 11:00 hours January 14, 2024 at Head Office of the Bank at Narayanhiti Path, Durbar Marg, Kathmandu in presence of respective bidders (s) or in presence of its authorized representative. However, non-presence of the bidder(s) or its representative will not affect or change the pre-scheduled bid opening date for opening of the Bids. Qualification document (Eligibility proposal) will be evaluated first and date, time and place for opening of the another sealed Bids (Technical Proposals and Financial Proposals) of qualified bidder will be notified and will be opened in the presence of qualified bidders/authorized representatives who choose to attend. The bid documents of technical/financial offer of the unqualified bidder shall be returned to the respective bidders in sealed (unopened) condition.
- If the last date of purchasing, submission and opening falls on a public holiday, immediate next working day shall be considered the last day for respective jobs.
- Documents received after the deadline of the submission will not be considered for further evaluation.
- The bidders meeting the following conditions will only qualify to participate in the bid: -
- The bidder must be in existence for a minimum period of last 3 (three) years;
- The bidder must submit Company Registration Certificate and latest updated proof of the respective country and PAN/ VAT certificate or any other document as applicable;
- The bidder/ implementation partner/ consultant and software solution offered should have been/ have designed, developed, implemented and maintained the similar solution before in at least 5 Bank and Financial Institutions whether in South East Asia, Middle East or other countries with added advantage to vendor’s specialization in IFRS advisory and solutions. (Experience letter to be submitted.)
- The bidder must be financially sound and latest financial statement should be in profit. The bidder must submit latest audited financial statement.
- The bidder (if foreign bidder) should have local firm/ company of Nepal appointed as the supporting partner in its implementation team and provide proof of document.
- Bids must be accompanied by bid security of 5% of the bid amount either in the form of earnest money (refundable) deposited in cash at the Head Office of the Bank or in the form of bank guarantee (Bid Bond) issued in favor of the Bank having validity of 90 days from the last date of bid submission.
- Sealed bids received against the first published notice will remain valid.
- All other information are mentioned in the bid documents.
- The Bank, at its sole discretion; reserves all the rights to accept or reject the “Bids” received from the bidders, wholly or partly; any or all the bids without assigning reason whatsoever.