Section 67 in Rajasthan Public Procurement Rules, 2012
67. Acceptance of the successful bid and notification of award.
(1)Prior to the expiration of the period of bid validity, the Procuring entity shall notify the successful bidder, in writing, that his bid has been accepted.(2)The procuring entity shall award the contract to the bidder whose offer has been determined to be the lowest or most advantageous bid in accordance with the evaluation criteria set out in the he bidding documents, provided that the bidder has been determined to be qualified to perform the contract satisfactorily on the basis of qualification criteria fixed for the bidders in the subject matter of procurement.(3)The bid evaluation committee after due consideration of the bids received, their conditions, financial implications, seeing samples, test reports, if any, etc., shall recommend regarding acceptance or rejection of the bid. If the finance member of the bid evaluation committee has disagreed or given his note of dissent in the recommendations, the matter shall be referred to the next higher authority in delegation of financial powers for decision.(4)Decision on bids shall be taken within original validity period of offers and within the time period allowed to an authority of procuring entity for taking decision. If the decision on acceptance of a bid is not taken within the time limit allowed to that authority and within the original validity period, the matter shall be referred to the next higher authority in delegation of financial powers for decision.(5)If the decision on acceptance or rejection of a bid can not be taken within the original bid validity period due to unavoidable circumstances, all the bidders shall be requested to extend validity period of their bids up to a specified date. Reasons for not taking the decision within original validity period shall be recorded in writing.(6)As soon as a bid is accepted by the competent authority its written intimation should be sent to the concerned bidder by registered post and email. If the issuance of formal Work Order is likely to take time, a Letter of Intent (LOI) may be sent in the meanwhile. In the same intimation the bidder may be asked to execute an agreement in the format given in the bidding document on a non judicial stamp of requisite value and deposit the amount of prescribed performance security deposit within 15 days from the date of issue of acceptance.(7)The acceptance of an offer is complete as soon as the letter of communication is posted and/ or sent by email (if available) to the address of the bidder given in the bidding document.(8)The bid security of the bidders whose bids could not be accepted shall be refunded soon after the agreement with the successful bidder is executed and his performance security deposit obtained. Until a formal contract is prepared and executed, the letter of award shall constitute a binding contract.
