Last month, TCP invited sealed bids for disposal of some 415.240 metric tons sweeping urea cargo in three lots on "as is where is basis" stored at TCP's Landhi warehouse. The tender was opened on January 16, 2019 and only one bidder namely M/s Sosafe submitted bid for purchase of urea.
The interested company has offered Rs 5,600 per metric ton for a lot of 387 metric ton urea and Rs 16,100 per metric ton for remaining two lots of 13 metric ton and 14 metric tons respectively. As per tender's term and condition, bidder was required to submit Earnest Money equivalent to at least 5 percent of the quoted value in form of Bank Pay Order/Demand Draft in favour of TCP. However, the M/s Sosafe has deposited earnest money less than 5 percent, of which the bid is likely to be declared non-responsive.
The bids will remain valid for 30 (thirty) working days from the day on which the tender is opened excluding the opening day. TCP will have the right to forfeit the earnest money if the successful bidder fails to fulfil the laid down terms and conditions or commits any breach thereof, without prejudice to TCP's right to claim damages/losses and take any other action. In addition, as per the terms and conditions, any employee of TCP or his/her relatives were ineligible to take part in the bidding process.