Invitation to Bid - Financial Audit Services - Financial Reporting Framework, Review of Financial Statements, Audit rep in GAYA, BIHAR

The eligibility requirements include being a registered entity capable of offering audit services in compliance with the specified frameworks. Bidders need at least 7 years of experience and an average annual turnover of ₹20 Lakh in the last three years. Additionally, documentation to support any exemptions must be provided if a bidder seeks exemption on experience or turnover criteria.

Participants must submit various documents such as yearly financial statements audited for the past three years, proof of relevant experience, and quality certifications. Specific formats for the technical bid and financial bid are provided in the official documentation. Bidders must adhere to these formats and upload all required documentation as specified.

The evaluation process follows a Total Value Wise Evaluation method, in which bids are assessed on quality and pricing. The H1-Highest Priced Bid Elimination rule applies, potentially discarding the highest bid if other competitive offers meet established criteria. Detailed evaluation criteria are outlined in the procurement documents available for review.

Bidders must submit an Earnest Money Deposit (EMD) of ₹15,000 alongside the technical proposal. Further payment terms are to be articulated during the contract negotiation phase after bidding concludes. Successful bidders will secure contracts based on the evaluation outcomes and financial agreement.

Yes, the tender incorporates provisions for Micro, Small and Medium Enterprises (MSEs) and startups. Eligible bidders can apply for exemptions related to experience requirements, promoting a diverse range of participants in the bidding process while supporting indigenous initiatives like “Make in India.” Proper guidelines to claim such exemptions can be found in the tender documentation.