Negotiation with bidders, Financial Management

Negotiation

You can also negotiate with the bidders based on the requirements as mentioned below.

You can negotiate only with the lowest evaluated responsive and qualified bidder. Normally, you should not negotiate, as this sets a bad precedent for the bidders, who then initially raise the prices and may reduce the prices marginally on negotiations, which may still be more than the reasonable costs/prices. Thus, negotiations may lead to corruptive practices. However, negotiations may have to be conducted under the following circumstances:

  • When you find that the lowest evaluated responsive and qualified bid for works or for items of goods are substantially more than the updated cost of works or items of goods.
  • When the procurement for works or goods is of an urgent nature and rejection of bids and re-invitation of fresh bids will adversely affect the schedule for completion of the project.

The Chief Vigilance Commissioner, GoI has issued detailed guidelines4  on the circumstances under which negotiations could be conducted. GoK has also issued detailed guidelines as well as mentioned the procedure that has to be adopted for conducting negotiations.

Posted Date: 9/28/2012 3:22:55 AM | Location : United States







Related Discussions:- Negotiation with bidders, Assignment Help, Ask Question on Negotiation with bidders, Get Answer, Expert's Help, Negotiation with bidders Discussions

Write discussion on Negotiation with bidders
Your posts are moderated
Related Questions
The Directors of Rohan Plc are discussing the importance of the dividend policy on the market value of their firm. The Chairman considers that the dividend is important and does a

I need your assistance on how to group the relevant data so as to help me in the data analysis

Macro-Economic Analysis Measuring the Level of Economic Activity Gross National Product (GNP) and the Gross Domestic Product (GDP) are the two most widely used aggregates

Functional Classification of Mutual Funds Functional classification of Mutual Funds is based on the basic characteristics of the mutual fund schemes for subscription. Mutual Fu

Floaters that can be classified under this head are: 1. Stepped Spread Floaters 2.  Extendible Reset Bonds

An options strategy by which an investor owns a position in both a call and put market with the same strike price and expiration date.

I need to get a good understandin about what this means?

Question 1: "Good Governance is an ideal. To ensure sustainable development, actions must be taken to work towards this ideal with the aim of making it a reality." With ref

1) Is foreign exchange risk systematic? What are the implications of your answer regarding corporate hedging policy with respect to foreign exchange risk? In your answers make sure

Market Value Ratios Price-Earnings Ratio P/E ratio shows how much investors are willing to pay for earnings per share of the company. Market-to-Bo