TCP extends date for opening of urea import tender

The Trading Corporation of Pakistan (TCP) has extended date for opening of urea import tender by one week. Following the directives of the federal government, the state-run grain trader issued tender for import of 0.1 million metric tons urea for domestic consumption on September 14, 2018. However, on September 19, the TCP has announced some amendments to the urea import tender.
As per amendment, opening date of tender has been extended by one week and now the urea import tender will be opened on October 22, 2018 instead of October 15, 2018, fixed earlier. In addition, minimum bid quantity has been enhanced 100 percent and now bidders will be required to submit bids for the entire quantity of the tender. Previously interested bidders were allowed to submit a bid for a partial/minimum quantity of 50,000 metric tons.
According to TCP, after the amendment to the tender, the minimum bid quantity will be 100,000 metric tons instead of 50,000 metric tons announced earlier. TCP has made it clear that bids less than 100,000 metric tons will not be considered. However, TCP has reserves the right to purchase, more or less, than the advertised quantity.The bidders will be required to quote one rate, the multiple rates/prices for the offered quantity by the same bidder will not be considered. Containerized shipment is not allowed and the price will be quoted in US dollar per metric ton on C&F (Free Out) for all Pakistani Ports.
State-run grain trader has also called a pre bid meeting as on October 2, 2018 to answer the queries of prospective bidders and ensure the smooth process of the tender.
According to tender's term and condition, the offers, submitted by suppliers, should be valid up to 1st November, 2018 and successful bidder will be ensure shipment of 100,000 metric tons within 4 weeks from the date of opening of L/C.
Shipment of 100,000 metric tons (5% +/-) will be made within 4 weeks (excluding voyage time) from the date of opening of L/C. Shipment of a minimum of 50,000 metric tons (or two shipments 25,000 metric tons each) will be made within two weeks. While, the shipment of balance quantities will follow every week, with each shipment carrying not less than 25,000 metric tons. In case opening of L/C is delayed due to any fault of supplier, the shipment date will be counted from the date of award instead of opening of L/C.
According to tender's term and condition, interested parties are required to submit bids accompanied by an original Bid Bond equivalent to Three percent of the C&F value of the offered quantity of the Bid in the form of a Demand Draft or Pay Order in US Dollars or in Pak Rupees in the form of Bank Guarantee. The amount of bid security equivalent to Three Percent of the C&F value of the bid can also be remitted to TCP.
The bid security of the successful bidder(s) provided in the form of Bank Guarantee OR Stand-by LC would be considered as Performance Guarantee till submission of required Performance Guarantee within three working days.
TCP has made it clear that the supply/import of urea will be governed by the Imports and Exports (Control) Act, 1950, provisions of the Trade Policy in force, PPRA Rules 2004 and in accordance with the requirements/specifications laid down by Pakistan Standards Quality Control Authority (PSQCA), for imported Urea.