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One of the
important factors that ultimately facilitates
order placement is the reasonableness of the L1
(Lowest offered Price / Tenderer) price.
That is , it is not only the Techno-commercial
suitability phase that a tender has to
successfully pass but the tender , even after
being L1, has to be within the ambit of price
reasonability for getting the order.
Main Guidelines determining Reasonableness of
price:
- Last purchase price
of same (or, in its absence ,similar) item
- Current market price
of same (or, in its sbsence, similar) item
- Price of raw
materials (which go into the item)
- Receipt of
competitive bids from different sources
- Quantity involved
- Terms of delivery
- Period of delivery
- Cost of analysis
(Material cost, Production cost, over heads,
profit margin)
- Purchase price
through a 'distress sale' or distress /
emergency purchase is an accurate guideline
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Quoted
Price Not “Reasonable"
If L1’s price is above reasonable limit, then
the correctness of the estimated value is once
again rechecked w.r.t. present market scenario and
/ or any other factor
If the
estimated value is correct , then the options are
:
- Price negotiation
with L1 i.e. the lowest offered
Techno-commercially suitable tenderer
- Retender with
appropriate wider publicity with same terms
and conditions and specification or with
suitable modifications in the same
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