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India Infrastructure Finance Company Limited, New Delhi
January, 28th 2020
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            - http://www.iifcl.org

    IIFCL/IAD/Proc/2019-20/05,  21st January,2020

                
            ,     
                 
    
                                                                                                             
                                                                                  India Infrastructure Finance Company Limited (IIFCL)
             Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                         based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit




Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing
Internal Audit Manual of IIFCL based upon Risk based Internal Audit (RBIA) approach &
handholding support in conducting one quarter Internal Audit




                                                A Govt. of India Enterprise


                     (registered with RBI w.e.f 9th September 2013 vide Certificate of
                  Registration no. DNBS.ND. No.1222/Regn. New/04 17 004/2013 ­ 14)
            Regd. Office : Plate A & B, Tower 2, NBCC Centre, East Kidwai Nagar, Delhi - 110023
                       Phone : +91-11-24662777, Fax : +91-11-20815125, 20815117
                                           Website: www.iifcl.org

                                           CIN : U67190DL2006GO1144520

                      Tender No IIFCL/IAD/Proc/2019-20/05, Dated 21st January ,2020


THE INFORMATION PROVIDED BY THE BIDDERS IN RESPONSE TO THIS TENDER DOCUMENT WILL BECOME
THE PROPERTY OF IIFCL AND WILL NOT BE RETURNED. IIFCL RESERVES THE RIGHT TO AMEND, RESCIND
OR REISSUE THIS TENDER DOCUMENT AND ALL AMENDMENTS WILL BE ADVISED TO THE BIDDERS AND
SUCH AMENDMENTS WILL BE BINDING ON THEM.




                                                                                                                       Page 2 of 60
                                                                                                     
                                                                          India Infrastructure Finance Company Limited (IIFCL)
     Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                 based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


Critical Information ­ Summary

1)       The RfP is published on IIFCL website www.iifcl.org & Govt's Central Public
         Procurement e-tender portal. IIFCL reserves the right to change the RfP requirements.
         However, any such changes will be posted on the web site.
2)       Bidders are advised to study the tender document carefully. Submission of bids shall be
         deemed to have been done after careful study and examination of the tender document
         with full understanding of its implications.
3)       Any clarifications from bidder resulting in any change in requirement shall be posted on
         Central Public Procurement E-Tender Portal. Hence, before submitting bids, bidder must
         ensure that such clarifications / changes have been considered by them. IIFCL will not have
         any responsibility in case some omission is done by any bidder.
4)       In case of any clarification required by IIFCL to assist in the examination, evaluation and
         comparison of bids, IIFCL may, at its discretion, ask the bidder for clarification. The
         response / Clarification shall be in writing and no change in the price of substance of the
         bid shall be sought, offered or permitted.
5)       Please note that all the information required as per the bidding document needs to be
         provided. Incomplete information in these areas may lead to non-selection.
6)       Modification And/ Or Withdrawal of Bids:
         Bids once submitted will be treated as final and no further correspondence will be
         entertained. No bid shall be modified after the deadline for submission of bids. No bidder
         shall be allowed to withdraw the bid, if bidder happens to be the successful bidder.
7)       IIFCL has the right to reject any or all tenders received/this bidding process without
         assigning any reason whatsoever.


NOTE:
IIFCL SHALL NOT BE RESPONSIBLE FOR NON-RECEIPT / NON-DELIVERY OF THE BID
DOCUMENTS DUE TO ANY REASON, WHATSOEVER.




                                                                                                               Page 3 of 60
                                                                                                    
                                                                         India Infrastructure Finance Company Limited (IIFCL)
    Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


Index
Sr. No.  Particulars                                              Pg No.
1        Tender Details                                                   6-7
2        Introduction
     2.1          About IIFCL                                               8
     2.2          Purpose of RfP                                            8
3        Assignment Scope
     3.1          Terms of Reference (TOR)                                  9
     3.2          Terms and conditions of RfP                              11
     3.3          Expected Deliverables                                    11
     3.4          Team                                                     12
     3.5          Time frame of the deliverables                           12
4        Tender Methodology                                                14
5        Technical Bid
     5.1          Preliminary Scrutiny                                     15
     5.2          Technical Proposal Evaluation Criteria                   15
     5.3          Eligibility cum Technical Proposal                       18
6        Financial Bid
     6.1          Financial Evaluation                                     19
7        Techno Commercial Evaluation Criteria                             20
8        FEES /COMPENSATION
     8.1          Payment Terms                                            21
     8.2          Payment Timeline                                         21
     8.3          Performance Guarantee                                    21
     8.4          Penalties for Late Submission of Deliverables            22
9        Special Terms & Conditions
     9.1          Sub- Contracting                                         23
     9.2          Confidentiality                                          23
     9.3          Signing of Integrity Pact by Bidder & IIFCL              27
     9.4          Submission of Certificate cum Declaration of No          27
                  Conflict of Interest
     9.5          Indemnity                                                29
10       Other Terms & Conditions                                          32
11       General Terms and Conditions                                      33
12       Disclaimer                                                        38
13       Annexures                                                     39 -60
I        Technical Bid Covering Letter
II       Letter of Authorization to Bid
III      Indemnity & Confidentiality Declaration to be signed by
         Bidder
IV       Eligibility Criteria
V        Approach, Methodology and Work Plan
VI       Team Profile
VII      Staffing Schedule for the duration of the Project
VIII     Proposed List of Key Personnel
IX       Integrity Pact
X        Certificate cum Declaration of no conflict of Interest
                                                                                                              Page 4 of 60
                                                                                                       
                                                                            India Infrastructure Finance Company Limited (IIFCL)
       Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                   based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


XI            Bidder Bank Details Form
XII           Financial Bid for RfP
XIII          Format for Performance Guarantee
XIV           List of Departments in IIFCL




                                                                                                                 Page 5 of 60
                                                                                                      
                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


1         Tender Details

Sr.    Tender No IIFCL/IAD/Proc/2019-20/05, Dated 21st January,2020
No.
1      Name       of        the Request for Proposal(RfP) for appointment of Consulting
       Assignment               Entity for updation of existing Internal Audit Manual of IIFCL
                                based upon Risk based Internal Audit (RBIA) approach &
                                handholding support for conducting one quarter Internal
                                Audit
2      Cost of Tender to IIFCL NIL
3      EMD                      Rs.25,000/-(Rupees Twenty Five thousand only)
3A     Submission of EMD        Account Name ­ India Infrastructure Finance Company Limited
                                Bank ­ IDBI Bank
                                A/c No. ­ 011102000073352
                                IFSC ­ IBKL0000011

                            UTR No. to be mentioned in the Bid mandatorily
4      Refund of EMD        The EMD of unsuccessful bidders will be returned without any
                            interest within 30 days of announcement of successful bidder on
                            IIFCL website. EMD of successful bidder will be returned post
                            receipt of valid Performance Guarantee.
5      Publishing Of Tender IIFCL website (www.IIFCL.org)
       Documents            Central Public Procurement E-Tender Portal
                            (https://etenders.gov.in/eprocure/app)

6       Sr.     Particulars                  Critical Dates                      Remarks
        No.                             DD MM     YYYY Hrs Mins
         1      Publishing Date         21  01    2020 15   00                   https://www.iifcl.org/

                                                                                 https://etenders.gov.in/eprocure/app

         2      Seek                    21      01      2020     15      00      https://etenders.gov.in/eprocure/app
                clarification
                start date
         3      Seek                    30      01      2020     17      00
                clarification end
                date
         4      Pre Bid Meeting         -       -       -        -       -       No
         5      Bid Submission          05      02      2020     11      00      https://etenders.gov.in/eprocure/app
                start date
         6      Bid Submission          05      03      2020     15      00
                End Date
         7      Technical     Bid       06      03      2020     15      00
                Opening
         8      Financial     Bid       Will be communicated to technically qualified bidders
                Opening
         9      Tender Cost             NIL
         10     EMD                     Rs. 25,000/-



                                                                                                                Page 6 of 60
                                                                                                     
                                                                          India Infrastructure Finance Company Limited (IIFCL)
     Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                 based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


7       E- Proposal Submission          At Central Public         Procurement                E-Tender       Portal        ­
                                        https://etenders.gov.in/eprocure/app

                              Bids not submitted through E-Tender portal shall be summarily
                              rejected. No communication in this regard shall be entertained
8       E-Proposal Submission https://etenders.gov.in/eprocure/app
        Support               Helpdesk Nos.
                              0120-4200 462
                              0120-4001 002
                              0120-4001 005
                              0120-6277 787
                              E-Mail : support-eproc@nic.in
10      Language              Proposals should be submitted in English only

11      Bid Validity             Proposals must remain valid for evaluation up to 180 (One
                                 Hundred & Eighty) days from the last date of Submission of the
                                 Bid.
12      Method of selection      Method of selection will be as per Techno-commercial evaluation
                                 based upon Quality and Cost based Selection (QCBS) criteria.
13      Currency                 Currency in which the Applicants may quote the price and will
                                 receive payment is INR only.
14      Date for Presentation Eligible short-listed bidders will be invited for a presentation on
        of the Proposal          the Technical Proposal at the discretion of the management. Date
                                 for the presentation will be communicated to the short-listed
                                 bidders; the company's decision is final in this regard.
15      Performance Guarantee The successful bidder on receipt of a letter of intent from IIFCL
                                 shall furnish a bank guarantee, by way of performance security,
                                 equivalent to 10 per cent of the total contract value/bid value,
                                 within 15 days from notification of award, unless specified to the
                                 contrary.
16      Contact Persons
         Name & Designation               Phone                  Email
          Dr. Ruchi Malik                 011-24662812           ruchimalik@iifcl.org
          Assistant General Manager
          Internal Audit Department
          Ms. Sonu Sharma                 011-24662682           sonu.sharma@iifcl.org
          Manager
         Internal Audit Department
Note:
     1. IIFCL reserves the right to change dates without assigning any reasons thereof. Intimation
        of the same shall be notified on IIFCL's website
     2. This Invitation document is not transferable.
     3. If a holiday is declared on the dates mentioned above, the proposals shall be received /
        opened on the next working day at the same time specified above and at the same venue
        unless communicated otherwise.



                                                                                                               Page 7 of 60
                                                                                                      
                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


      2   Introduction

2.1       About IIFCL

      IIFCL is a Government of India Enterprise company set up in 2006 to provide long-term
      finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure
      Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd
      (IIFCL), broadly referred to as SIFTI.
      IIFCL is engaged in providing long term financial assistance to commercially viable
      infrastructure projects with overriding priority to Public Private Partnership (PPP) projects.
      The sectors eligible for financial assistance from IIFCL are as per the Harmonized list of
      infrastructure sub-sectors as approved by the Government and RBI and as amended from time
      to time. These broadly include transportation, energy, water, sanitation, communication, social
      and commercial infrastructure. IIFCL has been registered as a NBFC-ND-SI-IFC with RBI since
      September 2013.

      For further details about IIFCL, bidders may visit IIFCL website (www.iifcl.org)

2.2       Purpose of RfP

      The purpose of RfP is to appoint competent entity for updation of Existing Internal Audit
      Manual of IIFCL based upon Risk based Internal Audit (RBIA) Approach & handholding
      support in conducting one quarter Internal Audit as per updated Manual.

      IIFCL, for this purpose, invites proposals from competent entities who are interested in
      participating in this RfP and must fulfil the eligibility criteria and also in a position to comply
      with the technical requirements mentioned and submit the required proposal as per the RfP.




                                                                                                                Page 8 of 60
                                                                                                    
                                                                         India Infrastructure Finance Company Limited (IIFCL)
    Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


3       Assignment Scope

IIFCL seeks to appoint an Audit Entity for carrying out updation of Existing Internal Audit
Manual based upon Risk based Internal Audit (RBIA) approach and training & handholding
support in conducting one quarter's internal audit as per the updated Manual. It is expected that
the team of the selected entity will have necessary expertise, experience, capabilities and
knowledge in the area, which shall broadly cover the areas listed below. This listing is not
exhaustive and should be regarded as an outline only.

Based on Diagnostic study of Internal Audit function of IIFCL, the two main objectives are:
   (i)    Updation of Existing Internal Audit Manual based upon Risk based Internal Audit
          Approach including RBIA based internal Audit policy for the organization
   (ii)   Training & handholding support to the Internal Audit Team for conducting one
          quarter's internal audit of the organization based on the updated Manual

Updated Manual based upon RBIA approach is required to be approved by the Audit Committee of
the Board and it should be formulated in accordance with the Risk based Internal Audit
guidelines issued by the RBI.


IIFCL's updated Internal Audit Manual based on RBIA approach will cover audit scope based on
following Guidelines:
           All statutory guidelines/laws, regulatory requirements applicable to NBFCs
              including Companies Act, RBI Act, Guidelines of Department of Financial Services
              (MoF), and any other applicable regulatory authority etc.
           Applicable RBI Circulars released in reference of NBFCs
           RBI's circulars related to Risk based Internal Audit (RBIA)
           Compliance requirements under IIFCL's Internal Policies & Procedures laid down
              from time to time

3.1 Terms of Reference (TOR)


The assignment will be carried out in a phase- wise manner as described below:

Phase I (A&B).              Design and Implementation of the Risk based Internal Audit
Framework
Design the key constituents for strengthened Risk based Internal Audit Framework of the
company in line with the prevailing regulatory guidelines, including but not restricted to prepare
as following:

                RBIA Policy
                RBIA Manual
                Audit Procedure & Methodology to be adopted
                                                                                                              Page 9 of 60
                                                                                                
                                                                     India Infrastructure Finance Company Limited (IIFCL)
Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
            based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


            Scoring matrix of each dept. & each process under the departments (selected bidder
            is required to prepare Risk registers based on the activities of all the departments.
            Activities/Processes which are inter- linked between different departments, have to
            be risk catogorised differently for each department. The risk register to be prepared
            based on the Risk Impact, Occurrence Probability, and Control Existence. The Risk
            Impact, Occurrence Probability, and Control Existence to be further categorized
            under three divisions viz. Low, Medium and High)
            Preparation of Dept.-wise & process wise checklists for conducting risk based internal
            audit along with periodicity for the same
            Audit Reporting, compliance mechanism & closure procedure for (including
            compliance acceptance of observations /Delegation of Power (DoP)Matrix for waiver
                                 Process Gaps
                                 Lapses in Statutory Compliances
                                 Lapses in approved organisational Policies
                                 Discrepancies resulting into financial loss to the organisation (Limit
                                 wise)
            Escalation Matrix for
                         Non-provision of requisite data/information
                         Non Co-operation by the Auditee
            Audit reporting at various levels based on DoP as afore-stated and relevant formats,
            templates and frequency for the same
            Categorization criteria for Closure of audit observations at various levels
            Monitoring Mechanism and Periodical reports to be submitted to the Management,
            the Audit Committee of the Board and the Board of Directors
            RBIA manual should devise organization Structure of the Audit Department covering
            as below:
                     This should cover the organizational structure of the Internal Audit
                      function both within the function and to the authority to whom the
                      head of t h e function should report administratively and functionally.
                     This should cover detailing of the roles and responsibilities for all
                      unique positions. In addition, the Knowledge Partner will be
                      required to detail the roles and responsibilities of any other
                      coordination units including audit reporting templates,
                      consolidation templates for audit findings / reports, analytical
                      report templates, etc.
                     Manpower plan including the size and capabilities of the personnel of
                      the Internal Audit function including any additional skills and
                      qualifications required to fulfill their responsibilities proficiently.
            Define the scope and functioning of Internal Audit Dept. to monitor and review
            conduct / efficacy / reporting of the various dept. functions of IIFCL
            Prepare a comprehensive audit template for audit as defined in scope and covering
            each Dept.

                                                                                                        Page 10 of 60
                                                                                                      
                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


                  Provide recommendations on IT Audit tool/ platform to address the deficiencies
                  identified during the Manual updation process .
                  Implementation roadmap for risk based Audit Framework with detailed guidance
                  note on the same providing enabling assistance to the management on key
                  components of the RBIA framework
                  Framework/guidance note for change management/knowledge transfer and
                  maintenance/updation of the proposed audit framework
                  Preparation & assistance in approval of Annual Audit Plan for next financial year
                  Provide enabling guidance/ assistance to the IIFCL staff on operationalization of
                  the enhanced audit framework (detailed in Phase II)


Phase II.            Training on Risk based Internal Audit Framework

Capacity Building exercise on implementation of Risk based Internal Audit Framework at IIFCL by
undertaking trainings of IIFCL employees and assistance to Internal audit team in conducting one
time quarterly risk based internal audit process which will include following steps:
                  Design of training material on the risk based Internal Audit Framework of IIFCL
                  Provide trainings to IIFCL's employees (in two batches for senior management &
                  middle management) for clarity & effective implementation of the risk based Audit
                  Framework within company.
                  Assistance to IIFCL's Internal Audit team for conducting one quarterly audit exercise.

Based on Draft report prepared for Phase I, the Successful Bidder will be required to make a
presentation of its report to Top management of IIFCL and the Board or its committee and
incorporate the feedback received during these presentations in its final report related to RBIA
Framework.

List of all depts. in IIFCL is provided at Annexure-XIV.

3.2       Terms and conditions of RfP

IIFCL reserves the right to modify the terms & conditions of this RfP if required, at time of issue of
order. The appointed bidder may also submit specific suggestions/ recommendations and other
detailed steps for enhancing the same based on the best industry practices.

3.3       Expected Deliverables

  Indicative List of Deliverables (Illustrative and not exhaustive):

Accordingly based on the above phases, the successful Bidder is expected to provide the following
deliverables (indicative and not exhaustive; to be proposed by the Bidder in the Technical
Proposal):
                                                                                                              Page 11 of 60
                                                                                                      
                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


Phase I(A&B). Design and Implementation of the Risk based Internal Audit Framework

Based on review of existing Internal Audit Manual, the selected Bidder should provide inputs to
revamp and strengthen the entire internal audit function including key components of audit
activity by providing recommendations on key areas of Internal Audit transformation based upon
Risk based Internal Audit approach in line with best industry practices under Phase I of the
assignment. (Deliverables as per TOR)



Phase II.            Training on Risk based Internal Audit Framework

In Phase II training & hand-holding support is to be provided to the Internal Audit team for
conducting one quarter internal audit based on the approved RBIA Framework. (Deliverables as
per TOR)


3.4 Team:

Team for carrying out this assignment/preparing RBIA Framework of IIFCL:
Team Leader of the assignment will have to visit IIFCL as and when required for management
discussion, during each presentation delivered by consulting entity related to assignment work
and if Board or its committee requires, he/she will have to make arrangement to attend the
meeting. IIFCL will not incur any cost towards the same visits. Change in team leader will take
place only after approval of IIFCL.
During the implementation of the assignment as finalised by IIFCL, a dedicated project team has
to work on-site at the IIFCL's premises in Delhi. The same team will continue through the
duration of the job. During the course of the assignment (or later), there might be related
areas which the company would like the selected bidder to take a look at more deeply than
earlier envisaged. IIFCL and the s e l e c t e d b i d d e r should mutually agree on the additional
resources required.
Team will not be changed without IIFCL's approval and replacement of resources shall generally
not be allowed. In case of failure to meet the standards of the company, (which includes
efficiency, cooperation, discipline and performance) bidder may be asked to replace the
resource without any additional cost for replacement/exit.







3.5       Time frame of the deliverables


Phase I A: Inception Report Submission

The selected bidder will be required to start the project within 15 days from the date of
Appointment Letter. The inception report on Risk based Internal Audit Framework is required to
be completed within 30 days' time from the date of appointment. Based on outcomes of Inception
                                                                                                              Page 12 of 60
                                                                                                    
                                                                         India Infrastructure Finance Company Limited (IIFCL)
    Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


report related to key gaps and improvement areas, one presentation is required to be delivered to
the Top Management of IIFCL by the selected bidder and incorporate the comments/feedback
during drafting the RBIA framework of IIFCL , if any received at this stage.


Phase I B : Submission of the Risk based Internal Audit Framework

The Draft report on RBIA Framework for IIFCL is required to be completed within 90 days' time
from the date of appointment OR within 60 days time from the submission of Inception Report.

After submission of the draft report, a meeting with Audit Head/other dept. heads will be held for
discussing and finalizing the Framework document which will also include presentation to IIFCL's
senior management. The Project Leader along with key members of the bidder team involved in
the assignment execution shall attend the meeting at IIFCL's office.

The final report on RBIA based Framework should be submitted by the selected bidder within two
weeks of receiving feedback from IIFCL on draft report. The final RBIA Framework document
comprising of Company's RBIA Policy and Audit Manual is to be presented to the Top Management
/ Audit Committee of the Board of IIFCL by the selected bidder and incorporate the
comments/feedback in final report, if any received at this stage.

The assignment scope will also involve assisting IIFCL's audit team during approval process of
RBIA Policy, RBIA based framework cum manual and approval of annual audit plan for the FY
2020-21, based on RBIA framework.



Phase II.          Timeline for Training/Capacity Building exercise

Selected bidder has to provide capacity building support to internal staff of IIFCL in
implementation of Risk based Internal Audit Framework before Final Payment.
First, One week Training is required to be provided to IIFCL's employees (in two batches of senior
management and Junior Management) for clarity & effective implementation of the risk based Audit
Framework within company.
Secondly, assistance to IIFCL's Internal Audit team in conducting one quarterly audit exercise based
on revised RBIA framework guidelines. The same has to be completed as per the timelines defined in
the Framework and the assignment would be completed when one quarter audit report is presented
at various levels as per the Framework and to the Audit Committee of the Board

The RfP scope, as mentioned above, has to be completed within time frame specified.




                                                                                                            Page 13 of 60
                                                                                                     
                                                                          India Infrastructure Finance Company Limited (IIFCL)
     Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                 based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


4        Tender Methodology


a)      The tender methodology adopted is "Two Bid System" i.e., Technical Bid and Financial Bid
        through Government E-procurement.
b)      The bidder shall bear all the costs associated with the preparation and submission of the
        bid and IIFCL will in no case be responsible or liable for those costs, regardless of the
        conduct or the outcome of the tendering process.
c)      Bids submitted without EMD will not be considered for evaluation.
d)      Bids sent by fax or e-mail will not be considered for evaluation.
e)      Procurement Policy on Micro and Small Enterprises (MSEs)
        IIFCL follows the Public Procurement Policy for Micro and Small Enterprises (MSEs) as
        circulated by The Ministry of MSME, GoI.
        The MSEs under the above provisions would be entitled for exemption from furnishing
        earnest money deposit (EMD).
        Agencies/ Bidders desirous of availing exemptions/ preference under above provisions
        should submit a copy of proof of Registration as per the provisions of the above policy.




                                                                                                             Page 14 of 60
                                                                                                      
                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


5         Technical Bid

Bidders meeting the eligibility criteria as described in the following sections will be considered for
evaluation. IIFCL reserves the right to change or relax the eligibility criteria to ensure inclusivity.

5.1       Preliminary Scrutiny

IIFCL will scrutinize the offers received to determine whether they are complete and as per RFP
requirement, whether technical documentation as asked for and required, to evaluate the offer has
been submitted, whether the documents have been properly signed and whether items are offered
as per the RFP requirements. IIFCL will inform the date, time and venue of presentation to the
bidders. A list of Key personnel to be deployed for the project is to be furnished with details of
Name, Age, Qualification and Experience in Annexure VIII. It is to be noted that the team
proposed in the Technical Proposal will need to necessarily be made available to the company for
delivery assignment.

The Technical Proposal should indicate the ideas, solutions and processes suggested in `Scope of
Work'. The Technical Proposal should be complete in all respects and should contain all
information as specified in the RFP, with the exclusion of the Financial Proposal. The Technical
Proposal should not contain any price information; any Bid disclosing the Financial
Proposal information in the Technical Proposal will be summarily rejected. All the relevant
pages of the scanned proposal are to be numbered and signed by an authorized signatory on
behalf of the bidder. The number should be unique serial number across the document. The Bidder
should provide documentary evidence of the authorised signatory for the purpose of this RFP.

The RFP response shall be in the English language only. The contact name, email ID and telephone
numbers (mobile & landline) of the Bidder shall also be indicated in bid application.



5.2       Technical Proposal Evaluation Criteria

The proposals received by IIFCL will be technically evaluated to arrive at the technical scoring as
per the scoring methodology specified below under the TECHNICAL PROPOSAL EVALUATION
CRITERIA. The Bids which are securing the technical score of 60 or more marks out of a total of
100 marks are considered as technically qualified and only those technically qualified Bids will be
further processed to find "Highest scoring Bidders" as per evaluation methodology under TECHNO
COMMERCIAL EVALUATION CRITERIA. The organization, however retains the right to lower the
cut off score, if adequate number of bids does not qualify with the minimum score specified above.






A presentation before the Technical Evaluation Committee of IIFCL is to be made by eligible, short-
listed bidders on the understanding of the key challenges before the company, proposed
Methodology and Approach to be adopted, time frame for implementation of activities in the
organization and proposed team. The technical capabilities and competence of the bidder

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should be clearly reflected in the presentation which should be more objective by clearly
stating about work order status for similar assignments indicating quality of work done with work
completion status, team strength, annual turnover etc. The date and time of the presentations will
be notified by IIFCL; no changes in the schedule will be entertained thereafter. Based on technical
evaluation as per eligibility criteria parameters (1 to 4 as given below in Table), top seven scorers
will be invited for delivering presentation on proposed solution under technical proposal
submitted.

Based on the details submitted by the bidders in the Technical Proposal and the presentation
made by them before the Technical Evaluation Committee of the company, the Technical
Evaluation of the eligible bidders will be carried out as furnished below:

The bidder has to submit the details of eligibility criteria as per Annexure­IV, V,VI, VII & VIII for
Technical Evaluation.

 No.                                    Particulars                                                    Maximum
                                                                                                        Eligible
                                                                                                       Marks for
                                                                                                       evaluation
  1        The number of professional staff (with professional Qualifications
           like CA, CFA, CS, CMA, FRM, MBA(Finance), engaged in accountancy
           and Internal Audit & allied advisory services :
           (Bidder will provide a list of staff signed by authorized signatory on
           their letter head which will include Qualification, designation, No
           of year of Experience etc.)

           10          10 Marks                                                                                 15


           (One additional Mark for every additional Professional
           Resource subject to Maximum of 15 Marks )

  2        Number of Internal Audit assignments received from
           Organisations like SBI and its Associate Banks/ Nationalized
           Banks/IDBI/ Financial Intermediaries Private-Indian Banks/ All
           India FIs (NHB/NABARD/SIDBI/EXIM)/ Financial regulators
           (SEBI/IRDA/RBI)/ CPSEs listed in Schedule A or BFSI Segment.
           Last ten years' experience will be taken into consideration.
           (Work order copies from the clients for the related assignments)

           5           10 Marks
                                                                                                                15
           (One additional Mark for every additional work order
           subject to Maximum of 15 Marks )

  3       Number of Risk based Internal Audit Assignments received
          from organisations like SBI and its Associate Banks/
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No.                                   Particulars                                                    Maximum
                                                                                                      Eligible
                                                                                                     Marks for
                                                                                                     evaluation
        Nationalized Bank/IDBI/ Financial Intermediaries Private-Indian
        Banks/ All India FIs (NHB/NABARD/SIDBI/EXIM)/ Financial
        regulators (SEBI/IRDA/RBI)/ CPSEs listed in Schedule A or BFSI
        Segment. Last ten years' experience will be taken into
        consideration.
         (Work order copies from the clients for the related assignments)
                                                                                                             20
         2            10 Marks

        (Two additional Marks for every additional work order subject to
        Maximum of 20 Marks )

4       Average Experience of team members for similar assignments                                             30
        related to Internal Audit/RBIA & allied advisory services
        ( As on Closing date of bid):

         Team Leader/Partner           (FCA)
         15 years        5 Marks
         (one additional Mark for every additional yearly experience subject
         to Maximum of 10 Marks )

         Project Manager             (CA/CFA/FRM)

         10 years        5 Marks
         (one additional Mark for every additional yearly experience subject
         to Maximum of 10 Marks )

         Team Member
         3 years       5 Marks
         (one additional Mark for every additional yearly experience subject
         to Maximum of 10 Marks )

        (Bidder Entity is required to propose at least Four member team
        comprising of one Team Leader, one Project Manager, and two team
        members with requisite professional backgrounds as defined under
        Eligibility Criteria.
        Score criteria given for sub-criteria related to Team Member position is
        cumulative score for two persons with requisite yearly experience. Out
        of two persons assigned for the Team Members position, overall score
        will be assigned as per lowest yearly experience of member/members
        proposed under this position).

5        Submission of Technical Proposal on Proposed Solution &                                              20
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 No.                                    Particulars                                                    Maximum
                                                                                                        Eligible
                                                                                                       Marks for
                                                                                                       evaluation
           Deployment of team followed by Presentation

Note: Proposals of bidders who do not fulfil the minimum criteria or who fail to submit
documentary evidence, thereon would be rejected.

5.3       Eligibility cum Technical Proposal

An eligibility criterion for the Bidder to qualify this stage is clearly mentioned in A n n e x u r e - I V
of this document. The Bidder would need to provide supporting documents as part of the
eligibility proof. The Technical Proposal will also be evaluated for technical suitability.

During evaluation of the Tenders, the company, at its discretion, may ask the Bidder for
clarification in respect of its tender. The request for clarification and the response shall be in
writing, and no change in the substance of the tender shall be sought, offered, or permitted.

The organization reserves the right to accept or reject any tender in whole or in parts
without assigning any reason thereof. The decision of the company shall be final and binding
on all the Bidders to this document and the company will not entertain any correspondence in
this regard.




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6       Financial Bid

The Financial Proposal should contain all relevant price information and should not
contradict the Technical Proposal in any manner. There should be no hidden costs for items
quoted and the offer must be made in Indian Rupees only. The Financial Bid should contain the
Total project cost, on a fixed cost basis, inclusive of all fees & expenses. The price quoted excludes
taxes, duties & statutory levies such as Goods & Service Tax etc. The company is not responsible
for the arithmetical accuracy of the bid. The Bidder will have to ensure all calculations are
accurate. IIFCL at any point in time for reasons whatsoever is not responsible, for any
assumptions made by the Bidder. The company at a later date will not accept any plea of the
Bidder or changes in the commercial offer for any such assumptions.

IIFCL will neither provide nor reimburse expenditure towards any type of accommodation, travel
ticket, airfares, train fares, halting expenses, transport, lodging, boarding etc. The format for the
financial bid is given at A n n e x u r e - X I I .


6.1 Financial Evaluation

After Technical evaluation, the Financial Bids for short listed Technically Qualified bidders will be
opened.

Evaluation process as decided by IIFCL will be binding to the bidders. IIFCL in its sole/absolute
discretion can apply whatever criteria deemed appropriate in determining the responsiveness of
the proposal submitted by the Bidders. IIFCL may reject any/all proposal(s) at any stage without
assigning any reason thereof.




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7.           Techno-commercial Evaluation Criteria


This will be a techno commercial evaluation and accordingly the Technical evaluation will have
70% weightage and Commercial evaluation shall have 30% weightage. These weightages shall
be taken into consideration for arriving at the Successful Bidder. The evaluation methodologies
vis-a-vis the weightages are as under:

The fee to be considered for commercial evaluation quote provided by the Bidder (Cost "C") is
mentioned in A n n e x u r e X I I . )


Score will be calculated for all technically qualified bidders using the following formula:

S = (T/T High x 70%) + (C Low/C x 30%)

     Where:
     S                = Score of the Bid
     T                =Technical score of the Bid
     T High           = Highest Technical score among the Bids
     C                = Quote as provided in the Bid (please refer to Annexure- X I I )
   C Low       = Lowest Quote of C among the Bids
The proposals will be finally ranked according to their combined Technical Score(s) and Financial
Score as follows:

S =ST x Tw + SF x Fw

Where S is the combined score, and Tw and Fw are weights assigned to Technical Proposal and
financial Proposal that shall be 0.70 and 0.30 respectively. ST and SF will be calculated for
individual bidders, as per description mentioned above.

Bidder with the highest combined score will be considered for award of the consultancy
assignment.

If highest bidder is not willing to undertake the contract, in that case, next highest bidder will be
invited for contract signing.




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8. FEES /COMPENSATION

8.1       Payment Terms

Payment in Phase- I A: 15% after submission of the Inception report followed by presentation to
Internal audit head/other dept. HODs/Top Management of IIFCL.

Payment in Phase- I B: 50% after submission of the Final RBIA Framework to IIFCL followed by
presentation to Top management/Audit Committee of Board & also subject to meeting the
deliverables detailed in the Contract.

It is to be noted that the audit firm/company's fees shall be paid only after getting final approval of
RBIA Framework (RBIA Policy, Framework cum Manual), from the Board or its audit committee
and approval of Annual audit Plan for next financial year.

Payment in Phase-II: 35% after completion of one quarterly audit exercise based on RBIA
framework guidelines as approved, including staff training on RBIA framework.

        TDS will be deducted at source for any payment made by IIFCL, as per applicable provisions
        of Income Tax Act / Rules.
        All payments under this Agreement shall be made to the selected bidder alone and the
        currency of all payments shall be in Indian Rupees subject to any statutory deductions at
        source (TDS Etc.).
        All duties and taxes (excluding service tax, VAT or other local taxes), if any, which may be
        levied, shall be borne by the selected bidder and IIFCL shall not be liable for the same.
        All expenses, stamp duty and other charges/ expenses in connection with execution of this
        Agreement shall be borne by selected bidder.


8.2      Payment Timeline

      a. The Company will pay properly submitted valid invoices within reasonable period but not
         exceeding thirty (30) days after its receipt thereof. All payments shall be made in Indian
         Rupees.
      b. The Company may withhold payment of any charges that it disputes in good faith, and may
         set-off penalty amount and any other amount which selected bidder owes to IIFCL against
         charges payable to selected bidder under this Agreement.
      c. No payment will be released until the deliverables/reports are submitted as per the
         mentioned timelines under RfP.

8.3      Performance Guarantee

      a. The successful bidder on receipt of a letter of intent from IIFCL shall furnish a bank
         guarantee, by way of performance security, equivalent to 10 per cent of the total contract
         value/bid value, within 15 days from notification of award, unless specified to the
         contrary. In case the successful Bidder fails to submit Performance Guarantee within the
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          time stipulated, IIFCL may at its sole discretion cancel the letter of intent without giving
          any notice and encash the EMD furnished by the Bidder, in addition to any other right
          available to it under this RFP. The Performance Guarantee furnished by the successful
          Bidder shall be in the manner as prescribed (A n n ex u r e X I I I ) by IIFCL.

      b. The successful Bidder shall ensure, the Performance Guarantee is valid at all times during
         the Term of the contract and for a period of 60 days beyond all contractual obligations.

8.4      Penalties for late submission of deliverables

All payments against the contract rendered under the package shall be released on stage wise
completion of the contract including submission of the `Deliverables' and subject to acceptance,
approval and certification in accordance with provisions of Timelines under section 3.5 and Terms
of Payment as specified under section 8.1. In case, the selected bidder fails to complete the
assigned contract within the stipulated time, then, IIFCL reserves the right to impose penalties and
terminate the contract. For the delay up to one month the penalty will be 2% of the Bid Project
Cost (BPC) & thereafter, 3% of Bid Project Cost for each month or part thereof, subject to
maximum delay of up to three months. In case the delay exceeds three months, IIFCL shall reserve
the right to terminate the contract.

      a. IIFCL may invoke the Performance Guarantee in the event of a material breach by the
         successful Bidder leading to termination for material breach.

      b. If at any time during performance of the contract, the selected bidder shall encounter
         unexpected conditions impeding timely completion of the Services under the Agreement
         and performance of the services, the selected bidder shall promptly notify IIFCL in writing
         of the fact of the delay, it's likely duration and its cause(s). As soon as practicable, after
         receipt of the selected bidder's notice, IIFCL shall evaluate the situation and may at its sole
         discretion extend the selected bidder's time for performance, in which case the extension
         shall be ratified by the Parties.

      c. Performance of the obligations under the Agreement shall be made by the selected bidder
         in accordance with the time schedule specified in this Agreement.

      d. No penalty shall be levied in case of delay(s) in deliverables or performance of the contract
         for the reasons not attributable to the selected bidder. On reaching the maximum of
         penalties specified, the Company reserves the right to terminate the contract without any
         notice thereof.




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9         Special Terms & Conditions

9.1       Sub- Contracting

The company expects a single bidder having in-house capabilities to deliver the scope as per the
Terms of Reference. Sub-contracting of services in whole or part with other entities shall not be
permitted. In case the Bidder is found to not possess the requisite capabilities, they will be
summarily disqualified from the process for this assignment.

9.2    Confidentiality

The Parties acknowledge that in the course of performing the obligations under this RfP and
Subsequent Agreement, each party shall be exposed to or acquire information of the other party,
which such party shall treat as confidential. Neither party shall disclose the Confidential
Information to a third party.

"Confidential Information" means any and all information that is or has been received by the
"Receiving Party" from the "Disclosing Party" and that:

      Relates to the Disclosing Party; and

      is designated by the Disclosing Party as being confidential or is disclosed in circumstances
      where the Receiving Party would reasonably understand that the disclosed information
      would be confidential or

      Is prepared or performed by or on behalf of the Disclosing Party by its employees, officers,
      directors, agents, representatives or consultants.

      Without limiting the generality of the foregoing, Confidential Information shall mean and
      include any information, data, analysis, compilations, notes, extracts, materials, reports,
      specifications or other documents or materials that may be shared by IIFCL with the
      selected Bidder.

      "Confidential Materials" shall mean all tangible materials containing confidential
      information, including, without limitation, written or printed documents and computer
      disks or tapes whether machine or user readable.

      Information disclosed pursuant to this clause will be subject to confidentiality for the
      term of contract plus two years. However, where Confidential Information relates to the
      company's data or data of the company customers, including but not limited to the
      company customers or the company employees personal data or such other
      information as the company is required by applicable secrecy or such other laws to
      protect for an indefinite period, such Confidential Information shall be protected by the
      receiving party for an indefinite period or until such time when the receiving party no
      longer has access to the Confidential Information and has returned or destroyed all
      Confidential Information in its possession.
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     Nothing contained in this clause shall limit selected Bidder from providing similar services
     to any third parties or reusing the skills, know-how and experience gained by the
     employees in providing the services contemplated under this clause, provided further
     that the selected Bidder shall at no point use the company's confidential information or
     Intellectual property.

The Parties will, at all times, maintain confidentiality regarding the contents of this RFP and
subsequent Agreement and proprietary information including any business, technical or
financial information that is, at the time of disclosure, designated in writing as confidential, or
would be understood by the Parties, exercising reasonable business judgment, to be confidential.

The Parties will keep in confidence and not disclose to any third party any and all Confidential
Information available to the Parties, whether such information is given in writing or, is oral or
visual, and whether such writing is marked to indicate the claims of ownership and/or secrecy
or otherwise. Except as otherwise provided in this RFP, the Parties shall not use, nor
reproduce for use in any way, any Confidential Information. The Parties agrees to protect the
Confidential Information of the other with at least the same standard of care and procedures
used to protect its own Confidential Information of similar importance but at all times using at
least a reasonable degree of care.

Sub-contracting to other individuals/ consultants/ firm is not allowed.

The Receiving Party shall, at all times regard, preserve, maintain and keep as secret and
confidential all Confidential Information and Confidential Materials of the Disclosing Party
howsoever obtained and agrees that it shall not, without obtaining the written consent of the
Disclosing Party:

     Disclose, transmit, reproduce or make available any such Confidential Information and
     materials to any person, firm, Company or any other entity other than its directors,
     partners, advisors, agents or employees, who need to know the same for the purposes of
     maintaining and supporting the equipment provided as a part of the contract. The
     Receiving Party shall be responsible for ensuring that the usage and confidentiality by its
     directors, partners, advisors, agents or employees, is in accordance with the terms and
     conditions and requirements of this RfP; or

     Unless otherwise agreed herein, use of any such Confidential Information and materials
     for its own benefit or the benefit of others or do anything prejudicial to the interests of the
     Disclosing Party or its customers or their projects.

In maintaining confidentiality hereunder the Receiving Party                                   on    receiving       the
confidential information and materials agrees and warrants that it shall:

     Take at least the same degree of care in safeguarding such Confidential Information and
     materials as it takes for its own confidential information of like importance and such
     degree of care shall be at least, that which is reasonably calculated to prevent such

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          inadvertent disclosure
          Keep the Confidential Information and Confidential Materials and any copies thereof
          secure and in such a way so as to prevent unauthorised access by any third party

          Limit access to such Confidential Information and materials to those of its directors,
          partners, advisors, agents or employees, who are directly involved in the
          consideration/evaluation of the Confidential Information and bind each of its directors,
          partners, advisors, agents or employees, so involved to protect the Confidential
          Information and materials in the manner prescribed in this document.

          Upon discovery of any unauthorised disclosure or suspected unauthorised disclosure of
          Confidential Information, promptly inform the Disclosing Party of such disclosure in writing
          and immediately return to the Disclosing Party all such Information and materials, in
          whatsoever form, including any and all copies thereof

          The Receiving Party who receives the confidential information and materials agrees that
          on receipt of a written demand from the Disclosing Party
     i.      Immediately return all written Confidential Information, Confidential materials and
             all copies thereof provided to, or produced by it or its advisors, as the case may be,
             which is in the Receiving Party's possession or under its custody and control;
    ii.      To the extent practicable, immediately destroy all analyses, compilations, notes, studies,
             memoranda or other documents prepared by it or its advisors to the extent that the
             same contain, reflect or derive from Confidential Information relating to the Disclosing
             Party;
   iii.      So far as it is practicable to do so immediately expunge any Confidential Information
             relating to the Disclosing Party or its projects from any computer, word processor or
             other device in its possession or under its custody and control;
   iv.       To the extent practicable, immediately furnish a certificate signed by its director or
             other responsible representative confirming that to the best of his/her knowledge,
             information and belief, having made all proper enquiries the requirements of this
             paragraph have been fully complied with; and
    v.       The rights in and to the data / information residing at the company's premises,
             including at the Disaster Recovery Site even in the event of disputes shall at all times
             solely vests with the company.

This shall not be applicable and shall impose no obligation on the receiving party with
respect to any portion of Confidential Information which:
     a) was at the time received or which thereafter becomes, through no act or failure on the
        part of the receiving party, generally known or available to the public;
     b) is known to the receiving party at the time of receiving such information as evidenced
        by documentation then rightfully in the possession of the receiving party;
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   c) is furnished by others to the receiving party without restriction of disclosure;
   d) is thereafter rightfully furnished to the receiving party by a third party without
      restriction by that third party on disclosure;
   e) has been disclosed pursuant to the requirements of law or by any court of
      competent jurisdiction, the rules and regulations of any recognised stock exchange or
      any enquiry or investigation by any governmental, statutory or regulatory body which is
      lawfully entitled to require any such disclosure provided that, so far as it is lawful and
      practical to do so prior to such disclosure, the Receiving Party shall promptly notify the
      Disclosing Party of such requirement with a view to providing the Disclosing Party an
      opportunity to obtain a protective order or to contest the disclosure or otherwise agree
      to the timing and content of such disclosure
   f) was independently developed by the receiving party without the help of the
      Confidential Information.
On termination of the RfP and subsequent Agreement, each party must immediately return to the
other party or delete or destroy all Confidential Information of the other party and all notes
and memoranda (including copies of them) containing Confidential Information of the other
party in its possession or control save for that training materials and Documentation that has
been provided to the Bank which is contemplated for continued realization of the benefit of the
Services. Notwithstanding the foregoing, the selected Bidder may retain a copy of such
information (but which shall not include customer data and Confidential Information) as may
be necessary for archival purpose.
Where Confidential Information relates to the company's data or data of the company customers,
including but not limited to the company customers or the company employees personal data
or such other information as the company is required by applicable secrecy or such other laws
to protect for an indefinite period, such Confidential Information shall be protected by the
receiving party for an indefinite period or until such time when the receiving party no longer
has access to the Confidential Information and has returned or destroyed all Confidential
Information in its possession.
The Confidential Information and materials and all copies thereof, in whatsoever form shall at
all times remain the property of the Disclosing Party and its disclosure under the contract shall
not confer on the Receiving Party any rights whatsoever beyond those contained in the
contract.
Without prejudice to any other rights or remedies which a Party may have, the Parties
acknowledge and agree that damages would not be an adequate remedy for any breach of the
clause and the remedies of injunction, specific performance and other equitable relief are
appropriate for any threatened or actual breach of any such provision and no proof of special
damages shall be necessary for the enforcement of the rights under this Clause. Further, breach
of this Clause shall be treated as "Material Breach" for the purpose of the contract.
The confidentiality obligations shall survive the expiry or termination of the agreement

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between the selected Bidder and IIFCL.
The selected bidder shall sign the declaration as given in the A n n e x u r e I I I , before
commencement of the assignment.


9.3    Signing of Integrity Pact by Bidder & IIFCL

The Bidder has to sign the Integrity Pact and submit a copy of the same along with Technical Bid.
Format of the Integrity Pact is attached at A n n e x ur e I X .


9.4    Submission of Certificate cum declaration of no conflict of interest

The Bidder has to sign a declaration of no conflict of interest and submit a copy of the same along
with Technical Bid. Format of the same is attached at A n n e x u r e X .


9.5    Indemnity

The selected Bidder shall indemnify the company, and shall always keep indemnified and hold the
company, its employees, personnel, officers, directors, (hereinafter collectively referred to as
"Personnel") harmless from and against any and all losses, liabilities, claims, actions, costs and
expenses (including attorneys' fees) relating to, resulting directly or indirectly from or in any way
arising out of any claim, suit or proceeding brought against IIFCL as a result of:

      The company's authorized/ bona fide use of the Deliverables and /or the Services
      provided by the selected Bidder under this RFP; and/or

      an act or omission of the selected Bidder and/or its employees, in performance of the
      Obligations under this RfP; and/or

      claims made by employees who are deployed by the selected Bidder, against the company;
      and/or

      claims arising out of employment, non-payment of remuneration and non- provision of
      statutory benefits by the selected Bidder to its employees

      breach of any of the term of this RFP or breach of any representation or false
      representation or inaccurate statement or assurance or covenant or warranty of the
      selected Bidder under this RFP; and/or

      any or all Deliverables or Services infringing any patent, trademarks, copyrights or such
      other Intellectual Property Rights; and/or

      breach of confidentiality obligations of the selected Bidder contained in this RFP; and/or

      Negligence or gross misconduct attributable to the selected Bidder or its employees.


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Indemnity would cover damages, loss or liabilities suffered by the company arising out of claims
made by customer and / or regulatory authorities for reasons attributable to breach of
obligations under this RfP and subsequent agreement by the selected Bidder.

The selected bidder shall sign the declaration as given in the A n n e x u r e I I I , before
commencement of the assignment.




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                                                                          India Infrastructure Finance Company Limited (IIFCL)
     Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                 based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


10       Other Terms & Conditions

10.1 Information Provided

The Request for Proposal document contains statements derived from information that is believed
to be relevant at the date but does not purport to provide all of the information that may be
necessary or desirable to enable an intending contracting party to determine whether or not to
enter into a contract or arrangement with IIFCL. Neither IIFCL nor any of its employees, agents,
contractors, or advisers gives any representation or warranty, express or implied, as to the
accuracy or completeness of any information or statement given or made in this document.
Neither IIFCL nor any of its employees, agents, contractors, or advisers has carried out or will
carry out an independent audit or verification exercise in relation to the contents of any part of the
document.

10.2 Costs to be borne by Bidders

All costs and expenses incurred by Bidders in any way associated with the development,
preparation and submission of responses including but not limited to; the attendance at meetings,
discussions, demonstrations, etc. and providing any additional information required by IIFCL will
be borne entirely and exclusively by the Respondent.

10.3 No Legal Relationship

No binding commercial relationship will exist between any of the Bidders and IIFCL until
execution of a contractual agreement.

10.4 Bidder Obligation to Inform Itself

The Bidders must conduct its own investigation and analysis regarding any information contained
in the RfP document and the meaning and impact of that information.

10.5 Evaluation of Offers

Each Bidder acknowledges and accepts that IIFCL may in its absolute discretion apply selection
criteria specified in the document for evaluation of proposals for short listing / selecting the
eligible Audit Entity. The RfP document will not form part of any contract or arrangement, which
may result from the issue of this document or any investigation or review, carried out by a Bidder.

10.6 Errors and Omissions

Each Bidder should notify IIFCL of any error, omission, or discrepancy found in this RfP document.

10.7 Acceptance of Terms

A Bidder will, by responding to IIFCL for RfP, be deemed to have accepted the terms of this

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                                                                         India Infrastructure Finance Company Limited (IIFCL)
    Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


Introduction and Disclaimer.

10.8 RfP submission

Copies of the RfP must be submitted before the aforementioned closing date and time mentioned
in Critical Information Summary.
Faxed copies/copies sent through e-mail of any submission are not acceptable and will be
rejected by the Company.
All copies of RfP and attachments must be provided in a sealed envelope. If the submission does
not include all the information required or is incomplete, the proposal is liable to be rejected.
All submissions, including any accompanying documents, will become the property of IIFCL.
Bidders shall be deemed to license, and grant all rights to IIFCL to reproduce the whole or any
portion of their submission for the purpose of evaluation, to disclose the contents of the
submission to other Bidders and to disclose and/or use the contents of the submission as the basis
for processing of RfP, notwithstanding any copyright or other intellectual property right that may
subsist in the submission or accompanying documents.


10.9 Communication by bidders

IIFCL will not answer any communication initiated by Bidders later than ten business days prior to
the due date for submission of RfP. However, IIFCL may, in its absolute discretion, seek additional
information or material from any Bidders after the RfP closes and all such information and
material provided must be taken to form part of that Bidder's response.
Bidders should provide details of their Fax, email and full address(s) to ensure that replies to RfP
could be conveyed promptly.
If IIFCL, in its absolute discretion, deems that the originator of the question will gain an advantage
by a response to a question, then IIFCL reserves the right to communicate such response to all
Bidders.
IIFCL may, in its absolute discretion, engage in discussion or negotiation with any Bidder (or
simultaneously with more than one Bidder) after the RfP closes to improve or clarify any
response.
10.10 Notification

IIFCL will notify all short-listed Bidders in writing as soon as practicable about the outcome of
their bid submission. IIFCL is not obliged to provide any reasons for any such acceptance or
rejection.
10.11 Disqualification/Right to Reject Proposals

Any form of canvassing/lobbying/influence/query regarding short listing, status, etc. will be a
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                                                                         India Infrastructure Finance Company Limited (IIFCL)
    Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


disqualification.
The Company reserves the absolute and unconditional right to reject the response to this RfP if it
is not in accordance with its requirements and no correspondence will be entertained by the
company in the matter. Proposals received from Respondents are liable to be rejected if:
     It is not in conformity with the instructions mentioned in the RfP document.
     It is not accompanied by the requisite Earnest Money Deposit (EMD).
     It is not properly or duly signed.
     It is received through email / fax.
     It is received after expiry of the due date and time.
     It is incomplete including non- furnishing the required documents.
     It is evasive or contains incorrect information.
     There is canvassing of any kind.
     It is submitted anywhere other than the place mentioned in the RfP.




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                                                                          India Infrastructure Finance Company Limited (IIFCL)
     Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                 based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


11       General Terms and Conditions:

(These terms and conditions are generic in nature, which have been mentioned for the knowledge
of the bidder and may be changed to specific terms and conditions with necessary changes with
each Work Order as and when applicable).
I        Definitions
Definition of Terms used in the RFP:
               Following terms are used in the document interchangeably to mean:
          1) "Assignment/ Job/ Engagement" means the work to be performed by the selected
             Bidder pursuant to the Contract
          2) "Company or Organisation or IIFCL" means India Infrastructure Finance Company
             Limited
          3) "Contract" or "Agreement" means the Contract signed by the Parties and all
             the attached documents and the Appendices, consequent to the completion of the
             proceedings as per the RFP
          4) "Day" means calendar day
          5) "Disclosing parties/ Receiving Parties/ Party/ Parties" means India
             Infrastructure Finance Company Limited and Successful Bidder or both as
             the case maybe
          6) "Personnel/ Resources" means professionals and support staff provided by the
             selected Bidder
          7) "Proposal/ Bid/ Tender" means Response to the RFP Document
          8) "Recipient, Respondent, Consultant ,supplier, audit firm, audit entity and Bidder"
             means interested and eligible applicants responding to this RFP for Appointment of
             Audit Entity for conducting Internal Audit and Preparing Risk based Internal Audit
             Framework of IIFCL
          9) "RFP" means the Request For Proposal document for
          10) "Successful/ Selected Bidder/selected firm/selected entity/selected audit entity"
              means the bidder selected as the successful bidder by IIFCL in accordance with
              this RFP who is also referred to as `Knowledge Partner/ Auditor'.
          11) "RBIA" means Risk based Internal Audit


II       Use of Contract Documents and Information

The Supplier shall not, without IIFCL's prior written consent, disclose the Contract, or furnish any
provision thereof, or any specification, plan, drawing, pattern, sample or information, website
contents, applications furnished by or on behalf of IIFCL in connection therewith, to any person
other than a person employed by the Supplier in the performance of the Contract. Disclosure to
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                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


any such employed person shall be made in confidence and shall extend only so far as may be
necessary for purposes of such performance. The Supplier will treat as confidential all data and
information about the company, obtained in the execution of its responsibilities, in strict
confidence and will not reveal such information to any other party without the prior written
approval of the Company.

III       Governing language

The Contract shall be written in English. All correspondence and other documents pertaining to
the Contract, which are exchanged by the parties, shall be written in English. The language of the
documentation should be English.

IV        Commercial Terms

All Payments will be made to the selected entity in Indian rupee only. The selected bidder must
accept the payment terms proposed by the Company. The financial bid submitted by the audit
entity must be in conformity with the payment terms proposed by IIFCL. Any deviation from the
proposed payment terms would not be accepted. IIFCL shall have the right to withhold any
payment due to the audit entity, in case of delays or defaults on the part of the audit entity. Such
withholding of payment shall not amount to a default on the part of IIFCL. Once a contract price is
arrived at, the same must remain firm and must not be subject to escalation during the
performance of the contract, change in the duty/tax structure, changes in costs related to the
materials and labour or other components or for any other reason.

V         Applicable laws

The Contract shall be interpreted in accordance with the laws prevalent in India.
Compliance with all applicable laws: The audit entity shall undertake to observe, adhere to,
abide by, comply with and notify IIFCL about all laws in force or as are or as made applicable in
future, pertaining to or applicable to them, their business, their employees or their obligations
towards them and all purposes of this RfP and shall indemnify, keep indemnified, hold harmless,
defend and protect IIFCL and its employees/ officers/ staff/ personnel/ representatives/agents
from any failure or omission on its part to do so and against all claims or demands of liability and
all consequences that may occur or arise for any default or failure on its part to conform or comply
with the above and all other statutory obligations arising therefrom.

Compliance in obtaining approvals/ permissions/ licenses: The Audit Entity shall promptly
and timely obtain all such consents, permissions, approvals, licenses, etc., as may be necessary or
required for any of the purposes of this project or for the conduct of their own business under any
applicable Law, Government Regulation/Guidelines and shall keep the same valid and in force
during the term of the project, and in the event of any failure or omission to do so, shall indemnify,
keep indemnified, hold harmless, defend, protect and fully compensate IIFCL and its employees/
officers/ staff/ personnel/ representatives/agents from and against all claims or demands of
liability and all consequences that may occur or arise for any default or failure on its part to
conform or comply with the above and all other statutory obligations arising therefrom and the
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                                                                            India Infrastructure Finance Company Limited (IIFCL)
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                   based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


company will give notice of any such claim or demand of liability within reasonable time to the
Audit Entity.

VI         Patent Rights

In the event of any claim asserted by a third party of infringement of copyright, patent, trademark,
industrial design rights, etc. arising from the use of the Goods or any part thereof in India, the
bidder shall act expeditiously to extinguish such claim. If the bidder fails to comply IIFCL is
required to pay compensation to a third party resulting from such infringement, the bidder shall
be responsible for the compensation including all expenses, court costs and lawyer fees. IIFCL will
give notice to the bidder of such claim, if it is made, without delay

VII        Force majeure

If the performance as specified in this order is prevented, restricted, delayed or interfered by
reason of fire, explosion, cyclone, floods, war, revolution, acts of public enemies, blockage or
embargo, any law, order, proclamation, ordinance, demand or requirements of any Government or
authority or representative of any such Government including restrict trade practices or
regulations, strikes, shutdowns or labour disputes which are not instigated for the purpose of
avoiding obligations herein, or any other circumstances beyond the control of the party affected,
then notwithstanding anything here before contained, the party affected shall be excused from its
performance to the extent such performance relates to prevention, restriction, delay or
interference and provided the party so affected uses its best efforts to remove such cause of non-
performance and when removed the party shall continue performance with utmost dispatch. If a
Force Majeure situation arises, the bidder firm shall promptly notify IIFCL in writing of such
condition, the cause thereof and the change that is necessitated due to the conditions. Until and
unless otherwise directed by IIFCL in writing, the Audit Entity shall continue to perform its
obligations under the Contract as far as is reasonably practical, and shall seek all reasonable
alternative means for performance not prevented by the Force Majeure event.

VIII       Forfeiture

The bid security [EMD] may be forfeited:

           if bidder withdraws its bid during the period of bid validity specified by the bidder on the
           Bid Form; Or
           if the successful bidder fails to accept the order / sign the Contract Or furnish Performance
           Guarantee.

IIFCL shall be at liberty to set off/adjust the proceeds of the performance security towards the
loss, if any, sustained due to the supplier's failure to complete its obligations under the contract.
This is without prejudice to IIFCL's right to proceed against the Bidder in the event of t he security
being not enough to fully cover the loss/damage.

IX         Termination

IIFCL may at any time terminate the contract by giving written notice to the selected bidder, if the
selected bidder becomes bankrupt or otherwise insolvent. In this event, termination will not
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                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


prejudice or affect any right of action or remedy, which has accrued or will accrue thereafter to
IIFCL. IIFCL reserves the right to cancel the contract in the event of happening one or more of the
following Conditions:

        Failure of the successful bidder to accept the contract and furnish the Performance
        Guarantee within specific days as given by IIFCL.
                     Bidder fails to perform any other obligation(s) under the contract.
                     Any threat is perceived or observed on the security of IIFCL's data / property
                     out of any action by the staff deployed for monitoring / configuration etc., by
                     service provider.
                     However either party, in the case of termination, will give 3 months' notice to the
                     other party.
                     IIFCL, at its discretion, may terminate the contract by giving written notice to the
                     bidder if the bidder fails to implement the project after elapsing 4 weeks from
                     the target date of service delivery, due to any reason apart from related to IIFCL
                     as mutually agreed.
        In case of termination, IIFCL will not pay any fee.

              In case of order cancellation, any payments made by IIFCL to the selected Bidder
              would necessarily have to be returned to the company with interest @ 15% per
              annum from the date of each such payment. These payments to be returned would
              refer to those deliverables that will have to be reversed or redone post the
              termination of the selected Bidder.

In addition to the cancellation of purchase contract, IIFCL reserves the right to appropriate the
damages through encashment of Bid Security / Performance Guarantee given by the selected
bidder.

X       Resolution of Disputes

It will be IIFCL's endeavor to resolve amicably any disputes or differences that may arise between
IIFCL and the selected bidder from misconstruing the meaning and operation of the RfP and the
breach that may result. In case of dispute or difference arising between IIFCL and the selected
bidder relating to any matter arising out of or connected with this agreement, such disputes or
differences shall be settled in accordance with the Arbitration and Conciliation Act, 1996,as
ameded. The Arbitrators shall be chosen by mutual discussion between IIFCL and the audit firm
OR in case of disagreement each party may appoint an arbitrator and such arbitrators may
appoint a presiding arbitrator before entering on the reference. The decision of the arbitral
tribunal shall be final. The selected bidder shall continue work under the Contract during the
arbitration proceedings unless otherwise directed in writing by IIFCL or unless the matter is such
that the work cannot possibly be continued until the decision of the Arbitrator, as the case may
be, is obtained. Arbitration proceedings shall be held at New Delhi, India, and the language of the
arbitration proceedings and that of all documents and communications between the parties shall
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                                                                            India Infrastructure Finance Company Limited (IIFCL)
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                   based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


be English.

Not-withstanding anything contained above, in case of dispute, claim & legal action arising out of
the contract, the parties shall be subject to the jurisdiction of courts at New Delhi, India only. Any
notice given by one party to the other pursuant to this Contract shall be sent to the other party in
writing and confirmed in writing to the other party's specified address. The same has to be
acknowledged by the receiver in writing. A notice shall be effective when delivered or on the
notice's effective date, whichever is later.

XI         Notices and other communication

If a notice has to be sent to either of the parties following the signing of the contract, it has to be in
writing and shall be sent personally or by certified or registered post with acknowledgement due
or overnight courier or email duly transmitted, facsimile/fax transmission (with hard copy to
follow for email/fax), addressed to the other party at the addresses, email and fax number given in
the contract.

Notices shall be deemed given upon receipt, except that notices send by registered post in a
correctly addressed envelope shall be deemed to be delivered within 5 working days (excluding
Sundays and public holidays) after the date of mailing dispatch and in case the communication is
made by facsimile transmission or email, on business date immediately after the date of successful
facsimile/email transmission (that is, the sender has a hard copy of a confirmation page
evidencing that the facsimile was completed in full to the correct fax number or email sent to
correct email address). Any Party may change the address, email address and fax number to which
notices are to be sent to it, by providing written notice to the other Party in one of the manners
provided in this section.

XII        Assignment

The selected Bidder agrees that the firm shall not be entitled to assign any or all of its rights
and or obligations under this RFP and subsequent Agreement to any entity including the firm's
affiliate without the prior written consent of IIFCL.

If the company undergoes a merger, amalgamation, takeover, consolidation, reconstruction,
change of ownership, etc., this RFP along with the subsequent Addendums published shall be
considered to be assigned to the new entity and such an act shall not affect the rights of the
selected Bidder under this RfP.

XIII   Publicity
Any publicity by the selected Bidder in which the name of the company is to be used should
be done only with the explicit written permission of IIFCL.

XIII       Non-disclosure Agreement

The selected Bidder shall execute a Non-Disclosure Agreement (NDA). The selected Bidder
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                                                                           India Infrastructure Finance Company Limited (IIFCL)
      Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


shall execute the NDA within 15 days from the date of acceptance of letter of appointment.

XIV       Corrupt and Fraudulent Practices

As per Central Vigilance Commission (CVC) directives, it is required that selected Bidders/
Suppliers/Contractors observe the highest standard of ethics during the procurement and
execution of such contracts in pursuance of this policy:

      "Corrupt Practice" means the offering, giving, receiving or soliciting of anything of values to
      influence the action of an official in the procurement process or in contract execution
      AND

      "Fraudulent Practice" means a misrepresentation of facts in order to influence a
      procurement process or the execution of contract to the detriment of the company and
      includes collusive practice among consultants (prior to or after bid submission) designed
      to establish bid prices at artificial non-competitive levels and to deprive IIFCL of the
      benefits of free and open competition.

IIFCL reserves the right to reject a proposal for award if it determines that the selected
Bidder recommended for award has engaged in corrupt or fraudulent practices in competing for
the contract in question.

The company reserves the right to declare a firm/entity ineligible, either indefinitely or for
a stated period of time as per the company's discretion, to be awarded a contract if at any time
it determines that the firm/entity has engaged in corrupt or fraudulent practices in
competing for or in executing the contract.

XV        Authorized Signatory

The selected Bidder shall indicate the authorized signatories who can discuss and correspond
with the company, with regard to the obligations under the contract. The selected bidder
shall submit at the time of signing the contract, a certified copy of the resolution of their Board,
authenticated by the Company Secretary/Director, authorizing an official or officials of the
Company or a Power o f Attorney copy to discuss, sign agreements/contracts with the
company. The selected bidder shall furnish proof of signature identification for above
purposes as required by the company. Format of the same is attached as Annexure-II.




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                                                                          India Infrastructure Finance Company Limited (IIFCL)
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                 based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


12     Disclaimer

Subject to any law to the contrary, and to the maximum extent permitted by law, IIFCL and
its directors, officers, employees, contractors, representatives, agents, and advisors disclaim all
liability from any loss, claim, expense (including, without limitation, any legal fees, costs,
charges, demands, actions, liabilities, expenses or disbursements incurred therein or incidental
thereto) or damage,

(Whether foreseeable or not) ("Losses") suffered by any person acting on or refraining from
acting because of any presumptions or information (whether oral or written and whether
express or implied), including forecasts, statements, estimates, or projections contained in this
RFP document or conduct ancillary to it whether or not the Losses arises in connection with
any ignorance, negligence, inattention, casualness, disregard, omission, default, lack of care,
immature information, falsification or misrepresentation on the part of the company or any of
its directors, officers, employees, contractors, representatives, agents, or advisors.




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                                                                         India Infrastructure Finance Company Limited (IIFCL)
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                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit




                                                                                                Annexure I
                                 Technical Bid Covering Letter

To
The Internal Auditor
INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
Plate A & B, Block- 2, 5th Floor
NBCC Tower, East Kidwai Nagar
Delhi ­ 110 023

Appointment of Consulting Entity for updation of existing Internal Audit Manual of IIFCL
based upon Risk based Internal Audit (RBIA) approach & handholding support for
conducting one quarter Internal Audit as per the scope of the contract

Dear Sir/Madam,

With reference to your Tender No. IIFCL/IAD/Proc/2019-20/05 dated 21st January,2020, we,
having examined all relevant documents and understood their contents, hereby submit our
Proposal for carrying out this assignment as per the scope defined in the RfP. The proposal is
unconditional and unqualified.

   1) Earnest Money Deposit (EMD): We have remitted a sum of Rs.25,000/- (Rupees Twenty
      Five Thousand only) towards EMD vide UTR No.                     . This EMD is liable to be
      forfeited in accordance with the provisions mentioned in the RfP
   2) We agree to keep this offer valid for 180 (One Hundred & Eighty) days from the last Date of
      submitting the proposal specified in the Invitation.
   3) We agree to undertake the project, if allotted by you, as per the scope of work & Timelines
      (Terms of reference).
   4) We agree and undertake to abide by all the terms and conditions of the Invitation. We
      submit this Proposal under and in accordance with the terms of the Invitation.
   5) We have not made any misleading or false representations in the forms, statements and
      attachments submitted
   6) We certify that we fulfil the eligibility criteria as mentioned in the Invitation and relevant
      documents for the same have been attached with this proposal.
   7) We certify that we have not been black listed/debarred/ disqualified by any regulatory/
      statutory body or Government entity or any International/National agency/Private/public
      Bank/Semi-Govt. departments for corrupt or fraudulent practices in India.
   8) We are not declared as insolvent or any insolvency petition is pending against us in any
      court.
   9) No criminal proceedings is pending or has ended up in conviction against us, including our
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                                                                           India Infrastructure Finance Company Limited (IIFCL)
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                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


          directors/promoters/partners, in Court
      10) We certify that we do not have an adverse litigation history.
      11) We certify that we are not a related party to IIFCL as per Companies Act, 2013, as amended
          from time to time.
      12) We understand and agree that IIFCL at its sole discretion and determination may add any
          other relevant criteria for evaluating the proposals received in response to this Invitation
          and IIFCL has the right to accept or reject any or all applications submitted in response to
          the Invitation document at any stage without assigning any reason thereof.
      13) I/We hereby certify that I / we have read the entire terms and conditions of the tender
          documents from Page No. _______ to ______ (including all documents like annexure(s),
          schedule(s), etc .,), which form part of the contract agreement and I / we shall abide hereby
          by the terms / conditions / clauses contained therein.
      14) The corrigendum(s) issued from time to time by your department/ organization too has
          also been taken into consideration, while submitting this acceptance letter.
      15) I / We hereby unconditionally accept the tender conditions of above mentioned tender
          document(s) / corrigendum(s) in its totality / entirety.

                                                                                           Yours faithfully,


(Signature, name and designation of the authorized signatory)
Date:
Place:
Name & Address of the Audit firm:

Attached
 1.              Letter of Authorization to Bid-Annexure-II
 2.              KYC documents as per RBI guidelines
 3.              Indemnity & Confidentiality Declaration to be signed by the Bidder - Annexure III
 4.              Eligibility Criteria (including support documents)- Annexure IV
 5.              Approach, Methodology and Work Plan- Annexure V
 6.              Team Profile- Annexure VI
 7.              Staffing Schedule for the duration of the project- Annexure-VII
 8.              Proposed List of Key Personnel- Annexure-VIII
 9.              Integrity Pact- Annexure IX
 10.             Certificate cum declaration of no conflict of interest- Annexure -X
 11.             Bidder Bank Details Form- Annexure XI




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                                                                         India Infrastructure Finance Company Limited (IIFCL)
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                based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit




                                                                                                            Annexure II

                                         Letter of Authorization to Bid


To
The Internal Auditor
INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
Plate A & B, Block- 2, 5th Floor
NBCC Tower, East Kidwai Nagar
Delhi ­ 110 023

Dear Sir/Madam,


SUB: RfP Ref. No. ...... Appointment of Consulting Entity for updation of existing Internal Audit
Manual of IIFCL based upon Risk based Internal Audit (RBIA) approach & handholding
support for conducting one quarter Internal Audit


Authorization Letter for submitting bid documents.

This has reference to your above RfP for Appointment of "Audit Firm for updation of Existing
Internal Audit Manual of IIFCL based upon Risk Based Internal Audit (RBIA) approach &
handholding Support for one Quarter Internal Audit ".

Mr./ Ms.                is hereby authorized to sign the bid documents and the contract on behalf
of our organization for for the given scope of work vide IIFCL's Request for Proposal. He/ She
is also authorized to take decisions on behalf of the organization till the RfP process is completed.

Certified photocopy of Power of Attorney (PoA) of the person authorizing such person is duly
submitted.

The specimen signature is attested below:
Specimen signature of the Representative
Signature of the Authorizing Authority
Name of the Authorizing Authority (Certified Xerox copy of POA of authorized Signatory
/authority is to be submitted)

Note:
 1) This letter of authority should be on the letterhead of the Bidder on whose behalf the
     proposal is submitted and should be signed by a person competent and having the
     power of attorney to bind the Bidder. It should be included by the Bidder in its proposal.



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                  based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit




                                                                                                             Annexure III

                 Indemnity & Confidentiality Declaration to be signed by the Bidder

(to be filled in by authorised signatory of the vendor / service provider while accepting the order)

In case of a limited company

I, Shri ____________________, son / daughter of Shri ___________________, aged about ___ years, Indian
inhabitant residing at ________________, do hereby solemnly declare and state as follows:

      (i)      I am a Director/ the Managing Director / __________________ (designation) of
               ___________________ Ltd., a Company within the meaning of the Companies Act, 1956 and
               having its Registered Office at ___________________ (hereinafter called "the Company") and
               I am duly authorised by the Company to make this declaration for and on behalf of the
               Company.


In case of a partnership firm.

We,


1.     Shri ____________________, son / daughter of Shri _________________, aged about ___ years, Indian
inhabitant residing at _______________,

2.     Shri ____________________, son / daughter of Shri_________________, aged about ___years, Indian
inhabitant residing at _______________,

3.      Shri ____________________, son / daughter of Shri ___________________, aged about ___ years, Indian
inhabitant residing at _______________, the partners of ________________________ , a partnership firm
carrying on its business at __________________ (hereinafter referred to as "Firm") do hereby solemnly
declare and state as follows:

(i) We say that we are the partners of the firm.


In case of a proprietary concern.

I, Shri ___________________, son / daughter of Shri___________________, aged about ___ years, Indian
inhabitant residing at ____________________ do hereby solemnly declare and state as follows:

(i) I say that I carry on business in the name and style as M/s ____________________ as a Sole
Proprietary Concern at ____________________,

(ii) I / We will keep information related to IIFCL confidential and will not divulge to any outside
agency or person without written consent from IIFCL This shall include passwords, access codes,
pass phrases used by the personnel of my company. I / We will ensure that any user ids / manuals
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/ IIFCL related information in printed / soft form / hardware items used by the personnel of my
company shall be returned / handed over to the concerned person in IIFCL upon the completion of
the task assigned to the company or as per the guidelines issued by IIFCL
.
(iii) I / We shall also indemnify and keep IIFCL indemnified against all losses, damages, costs,
claims and expenses whatsoever which IIFCL may suffer, pay or incur by reason of or in
connection with any such default on the part of the ___________________(Entity /company).

Date                 Signature          of       Authorised .........................................
                     Signatory

Place
                     Name     of        the      Authorised ........................................
                     Signatory

                     Designation -                                 ........................................

                     Name of the Organisation -                    ........................................

                     Seal




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                                                                                                           Annexure IV

                                          Minimum Eligibility Criteria


SI.
No.     Details                                                           Support Documents to be submitted


1       The Bidder should be a Private Limited Company/                   Certified copy of the Certificate of
        Public Limited Company/ Partnership/ Limited                      Incorporation issued by the Registrar of
        Liability Partnership (LLP) registered or Incorporated            Companies/ Partnership Deed in case of
        in India with at least 3 years of existence in the field          Partnerships       and     Certificate of
        of Audit and Advisory Services                                    Commencement of business issued by the
                                                                          Registrar of Companies (For Companies)
                                                                          and relevant Incorporation/ Registration
                                                                          Certificate of RoC (For LLPs).

2       The core business of the Bidder should be providing               Copy of Articles of Association/ Partnership
        audit, assurance and allied advisory services.                    Deed

3       The Bidder/ group company should not have been A self-declaration by the Bidder on
        black listed/ debarred by any Government Financial Bidder's letter head.
        Institutions/Banks/ RBI/ ICAI/ IBA/ Government/
        Semi- Government departments/ PSUs/ or any other
        Institution or Agency in India in last 5 years

4       The Bidder/ group company is not owned or controlled A self-declaration by the Bidder on
        by any director or officer/employee of IIFCL or their Bidder's letter head.
        relatives having the same meaning as assigned under
        Section 6 of the Companies Act, 1956.






5       The audit entity should have at least 10 employees for List of the employee on the letter head of
        Internal Audit and related Advisory services on their the Company dully signed by Authorized
        pay roll.                                              Signatory.

6       The bidder should have executed at least 05 Internal               Work order copies from the clients for the
        Audits in BFSI segments in last 10 years.                          related assignments.


7       The bidder should have executed at least 02 Risk based             Work order copies from the clients for the
        Internal Audits in BFSI segments in last 10 years.                 related assignments




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                                                                                                           Annexure V

                                 Approach, Methodology and Work Plan

       The firm should submit the Approach, Methodology and work plan in one integrated
document. The submission should highlight firm's analysis of the current issues before India
Infrastructure Finance Company Limited and likely solutions to address these. It should
highlight the proposed approach and methodology for delivery of the assignment proposed
given the understanding of the company. The work plan should also cover ideas for
institutionalization of change with clearly defined timelines, milestones and deliverables. Team
structure and staffing pattern should be highlighted clearly in the light of the company's
stipulation for deploying an experienced team with the requisite skill sets to deliver the
scope of the assignment.

The project scope and timelines are as defined in the RfP.




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                                                                                                Annexure VI

Team Profile

 Profile of Proposed Team Leader ,Project Manager and Team Members
 Name
 Present Designation
 Qualifications
 Nationality
 Total Work experience
 Language proficiency
 Areas of expertise relevant to the RFP
 Role in the proposed project
 Tasks assigned


 We hereby acknowledge that the information provided by us is true and to the best of our
 knowledge.




 Signature of the Authorized Signatory Name:

 Designation:

 Name of the Consulting Firm: Address:




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                                                                                                            Annexure-VII


                          Staffing Schedule for the duration of the project


Proposed Staffing for the assignment:


SI.
                                                                                 Phase I         Phase II
No
1.      Name of the Team Leader with Time Allocation (in %)


2.      Name and Number of staff deployed for fulltime
        onsite




Signature of the Authorized Signatory

Name:

Designation:

Name of the Consulting Firm:

Address:




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                                                                                                        Annexure-VIII


                                   List of Key Personnel


SI.No Name                          Age      Qualification        Experience relevant to
                                                                  RFP
  1

  2

  3

  4

  5

  6

  7

  8


A list of key personnel of bidder firm to be furnished with details as per the table above. The
company shall reserve the right to seek the change of resource personnel in case of need.


Signature of the Authorized Signatory

Name:

Designation:

Name of the Consulting Entity:

Address:




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                                                                                                           Annexure IX

                                                 INTEGRITY PACT

                                                       Between

India Infrastructure Finance Company Limited (IIFCL) hereinafter referred to as "The Principal "
                                                        and
.................................................hereinafter referred to as "The Bidder/Contractor"
Preamble

 The Principal intends to award, under laid down organizational procedures, contract/s
 for............................................. The Principal values full compliance with all relevant laws of the land,
 rules, regulations, economic use of resources and of fairness/ transparency in its relations
 with its Bidder(s) and I or Contractor(s).

 In order to achieve these goals, the Principal will appoint Independent External Monitors (lEMs)
 who will monitor the tender process and the execution of the contract for compliance with the
 principles mentioned above.

 Section 1 - Commitments of the Principal

 1. The Principal commits itself to take all measures necessary to prevent corruption and to
    observe the following principles:-

        a. No employee of the Principal, personally or through family members , will in connection
           with the tender for , or the execution of a contract, demand , take a promise for or
           accept, for self or third person, any material or immaterial benefit which the person is
           not legally entitled to.


        b. The Principal will, during the tender process treat all Bidder(s) with equity and reason.
           The Principal will in particular, before and during the tender process, provide to all
           Bidder(s) the same information and will not provide to any Bidder(s)
           confidential/additional in information through which the Bidder(s) could obtain an
           advantage in relation to the tender process or the contract execution.


        c. The Principal will exclude from the process all known prejudiced persons.

  2. If the Principal obtains information on the conduct of any of its employees which is a
     criminal offence under the IPC/PC Act, or if there be a substantive suspicion in this regard,
     the Principal will inform the Chief Vigilance Officer and in addition can initiate disciplinary
     actions.


   Section 2 - Commitments of the Bidder(s)/ Contractor(s)

  (1)      The Bidder(s)/Contractor(s) commit themselves to take all measures necessary to
           prevent corruption. The Bidder(s)/ Contractor(s) commit themselves to observe the

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        following principles during participation in the tender process and during the contract
        execution.

       a.    The Bidder(s)/ Contractor(s) will not, directly or through any other person or firm,
             offer, promise or give to any of the Principal's employees involved in the tender
             process or the execution of the contract or to any third person any material or other
             benefit which he/ she is not legally entitled to, in order to obtain in exchange any
             advantage of any kind whatsoever during the tender process or during the execution
             of the contract.

       b.    The Bidder(s)/ Contractor(s) will not enter with other Bidders into any undisclosed
             agreement or understanding, whether formal or informal. This applies in particular
             to prices, specifications, certifications, subsidiary contracts, submission or non-
             submission of bids or any other actions to restrict competitiveness or to introduce
             cartelisation in the bidding process.

       c.    The Bidder(s)/ Contractor(s) will not commit any offence under the relevant IPC/PC
             Act; further the Bidder(s)/ Contractor(s) will not use improperly, for purposes of
             competition or personal gain, or pass on to others, any information or document
             provided by the Principal as part of the business relationship, regarding plans,
             technical proposals and business details, including information contained or
             transmitted electronically.

       d. The Bidder(s)/Contractors(s) of foreign origin shall disclose the name and address of
           the Agents/representatives in India, if any, similarly the Bidder(s)/Contractors(s) of
           Indian Nationality shall furnish the name and address of the foreign principals, if any.
           Further details as desired by Principal shall be disclosed by the
           Bidder(s)/Contractor(s).Further, all the payments made to the Indian
           agent/representative have to be in Indian Rupees only.

       e. The Bidder(s)/ Contractor(s) will, when presenting their bid, disclose any and all
           payments made, is committed to or intends to make to agents, brokers or any
           other intermediaries in connection with the award of the contract.

       f. Bidder(s) /Contractor(s) who have signed the Integrity Pact shall not approach the
           Courts while representing the matter to IEMs and shall wait for their decision in the
           matter.

(2) The Bidder(s)/Contractor(s) will not instigate third persons to commit offences outlined
    above or be an accessory to such offences.


Section 3 - Disqualification                 from tender process and exclusion from future
         contracts

 If the Bidder(s)/Contractor(s), before award or during execution has committed a
 transgression through a violation of Section 2, above or in any other form such as to put their
 reliability or credibility in question, the Principal is entitled to disqualify the
 Bidder(s)/Contractor(s) from the tender process or take action as deemed fit.


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 Section 4- Compensation for Damages

  (1) If the Principal has disqualified the Bidder(s) from the tender process prior to the award
      according to Section 3, the Principal is entitled to demand and recover the damages
      equivalent to Earnest Money Deposit / Bid Security.

  (2) If the Principal has terminated the contract according to Section 3, or if the Principal is
      entitled to terminate the contract according to Section 3, the Principal shall be entitled to
      demand and recover from the Contractor liquidated damages of the Contract value or the
      amount equivalent to Performance Bank Guarantee.

Section 5 - Previous transgression

  (1)          The Bidder declares that no previous transgressions occurred in the last three years
               with any other Company in any country conforming to the anti-corruption approach
               or with any Public Sector Enterprise in India that could justify his exclusion from the
               tender process.

  (2)          If the Bidder makes incorrect statement on this subject, he can be disqualified from
               the tender process or action can be taken as per the procedure mentioned in
               "Guidelines on Banning of business dealings".

 Section 6 - Equal treatment of all Bidders /Contractors / Subcontractors

  (1) In case of Sub-contracting, the Principal Contractor shall take the responsibility of the
      adoption of Integrity Pact by the Sub-contractor.

  (2) The Principal will enter into agreements with identical conditions as this one with all
      Bidders and Contractors.

  (3) The Principal will disqualify from the tender process all bidders who do not sign this Pact
      or violate its provisions.

     Section 7 - Criminal charges against violating Bidder(s) / Contractor(s) /
     Subcontractor(s)

        If the Principal obtains knowledge of conduct of a Bidder, Contractor or Subcontractor, or
        of an employee or a representative or an associate of a Bidder, Contractor or
        Subcontractor which constitutes corruption, or if the Principal has substantive suspicion
        in this regard, the Principal will inform the same to the Chief Vigilance Officer.

   Section 8 - Independent External Monitor

  (1) The Principal appoints competent and credible Independent External Monitor for this
       Pact after approval by Central Vigilance Commission. The task of the Monitor is to review
       independently and objectively, whether and to what extent the parties comply with the
       obligations under this agreement.



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   (2) The Monitor is not subject to instructions by the representatives of the parties and
      performs his/her functions neutrally and independently. The Monitor would have access to
      all Contract documents, whenever required. It will be obligatory for him /her to treat the
      information and documents of the Bidders/Contractors as confidential. He/she reports to
      the Chairman, IIFCL.


 (3)     The Bidder(s)/Contractor(s) accepts that the Monitor has the right to access without
         restriction to all Project documentation of the Principal including that provided by the
         Contractor. The Contractor will also grant the Monitor, upon his/her request and
         demonstration of a valid interest, unrestricted and unconditional access to their project
         documentation. The same is applicable to Sub-contractors.

 (4) The Monitor is under contractual obligation to treat the information and documents of the
      Bidder(s)/ Contractor(s)/ Sub-contractor(s) with confidentiality. The Monitor has also
      signed declarations on 'Non-Disclosure of Confidential Information ' and of 'Absence of
      Conflict of Interest'. In case of any conflict of interest arising at a later date, the IEM
      shall inform Chairman, IIFCL and recuse himself / herself from that case.

 (5) The Principal will provide to the Monitor sufficient information about all meetings among
      the parties related to the Project provided such meetings could have an impact on the
      contractual relations between the Principal and the Contractor. The parties offer to the
      Monitor the option to participate in such meetings.

 (6) As soon as the Monitor notices, or believes to notice, a violation of this agreement, he/she
      will so inform the Management of the Principal and request the Management to
      discontinue or take corrective action, or to take other relevant action. The monitor can in
      this regard submit non-binding recommendations. Beyond this, the Monitor has no right to
      demand from the parties that they act in a specific manner, refrain from action or tolerate
      action.

 (7) The Monitor will submit a written report to the Chairman, IIFCL within 8 to 10 weeks from
      the date of reference or intimation to him by the Principal and, should the occasion arise,
      submit proposals for correcting problematic situations.

 (8) If the Monitor has reported to the Chairman IIFCL, a substantiated suspicion of an offence
       under relevant IPC/ PC Act, and the Chairman IIFCL has not, within the reasonable time
       taken visible action to proceed against such offence or reported it to the Chief Vigilance
       Officer, the Monitor may also transmit this information directly to the Central Vigilance
       Commissioner.

 (9) The word 'Monitor' would include both singular and plural.

Section 9- Pact Duration

This Pact begins when both parties have legally signed it. It expires for the Contractor 12 months
after the last payment under the contract, and for all other Bidders 6 months after the contract has
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been awarded. Any violation of the same would entail disqualification of the bidders and exclusion
from future business dealings.

If any claim is made / lodged during this time, the same shall be binding and continue to be valid
despite the lapse of this pact as specified above, unless it is discharged / determined by Chairman
of IIFCL.

Section 10- Other provisions

 (1) This agreement is subject to Indian Law. Place of performance and jurisdiction is the
Registered Office of the Principal, i.e. New Delhi.

  (2) Changes and supplements as well as termination notices need to be made in writing. Side
agreements have not been made.

  (3) If the Contractor is a partnership or a consortium, this agreement must be signed by all
partners or consortium members.

  (4) Should one or several provisions of this agreement turn out to be invalid, the remainder of
this agreement remains valid. In this case, the parties will strive to come to an agreement to their
original intentions.

 (5) Issues like Warranty /Guarantee etc. shall be outside the purview of IEMs.

  (6) In the event of any contradiction between the Integrity Pact and its Annexure, the Clause in
the Integrity Pact will prevail.

 (7) Central Vigilance Commission (CVC) has appointed Sh. V Kannan and Sh. Kishore Kumar
 Sansi as the Independent External Monitors (IEMs) for adoption and implementation of Integrity
 Pact (IP) at llFCL and will have access to all contract documents.


        ____________________________                                              ____________________
        (For & On behalf of the Principal)                           (For & On behalf of Bidder/ Contractor)

                 (Office Seal)                                               (Office Seal)

    Place --------------

    Date --------------

    Witness 1:        (Name & Address)               ____________                            ________                _
    Witness 2:        (Name & Address)               _________                                                   ______




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                                                                                                           Annexure -X


                          Certificate cum declaration of no conflict of interest

It is certified that as on date, no conflict of interest exists, with any other organization, department
or party (ies) with respect to the nature of work we _________________ are applying for and that
during the assignment we will not undertake any assignment/work/job which may affect the
interest of the IIFCL.



 Signature of the Authorized Signatory

 Name:

 Designation:

 Name of the Entity:

 Address:




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                                                                                                            Annexure XI
                                       Bidder Bank Details Form

(Please fill in the information in CAPITAL LETTERS)

Name of Bidder : ____________________________________________________

Address :_________________________________________________________________________

__________________________________________ City________________Pin code_____________
E-mail id:____________________________________Phone No. with STD code:_________________

Mobile No.:__________________________________ Permanent Account Number ______________________

MSE Registration / CA Certificate (if applicable)____________________________________________

3. Particulars of Bank account:
Beneficiary Name
Bank Name                                                     Branch Name
Branch Place                                                  Branch City
PIN Code                                                      Branch Code
MICR No.                                                      Account Type
Account No.                                                   IFSC

I hereby declare that the particulars given above are correct and complete. If any transaction is
delayed or not effected for reasons of incomplete or incorrect information, I shall not hold IIFCL
responsible. I also undertake to advise any change in the particulars of my account to facilitate
updation of records for purpose of credit of amount through RBI RTGS/NEFT.

Place : _____________
Date :_______________                                      Signature of the party / Authorized Signatory

Certified that particulars furnished above are correct as per our records.

Bank's stamp :
Date :


(Signature of the Authorized Official from the Bank)
N.B.: RTGS/NEFT charges if any, is to be borne by the party




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                                                                                                           Annexure -XII

 Financial Bid For Appointment of Consulting Entity for updation of existing Internal Audit
   Manual of IIFCL based upon Risk based Internal Audit (RBIA) approach & handholding
                     support for conducting one quarter Internal Audit

Ref. No. and Date
Name & Address


To,
The Internal Auditor
INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
Plate A & B, Block- 2, 5th Floor
NBCC Tower, East Kidwai Nagar
Delhi ­ 110 023


Dear Sir/Madam,

1        We hereby agree to conduct the assignment as per the scope defined in the RfP.

2        We have understood the terms and conditions laid down by you in the bidding documents
         and are fully aware of the nature of services required.

3        We hereby quote price ("C") in Indian Rupees on firm price basis inclusive of everything
         (excluding taxes) for the entire scope of work as specified in the Invitation as :

         In (Figures) (Rs._________

         In (Words) (Rupees _______________________________only)

4        We declare that the above quoted price is firm and shall remain valid for the entire period
         of the consultancy assignment. We further declare that the above quoted price is all
         inclusive (excluding taxes) payable by us under this assignment. We further agree that the
         quoted prices shall be deemed to cover for the full scope as aforesaid.

5         We further understand that where there are discrepancies between amounts stated in
          figures and words, the amount stated in words shall prevail.

6         We hereby confirm that any Income Tax, surcharge or any other tax as attracted under the
          law, we agree to pay the same to the concerned authorities.

7         We declare that the services will be rendered strictly in accordance with the Invitation.

8         We confirm that in case our bid is accepted then the work would be taken up immediately
          and the work will be completed in time.
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9         We confirm that the bank details required by IIFCL to release payment through electronic
          fund transfer system, has been furnished by us.



Date                                                          Signature

Place                                                         Name

                                                              Designation

                                                              Common seal

Person to be contacted/Authorised Signatory

Designation

FAX NO.

Tel No.

Mobile No.

E-mail

Name of Consulting Entity

Address




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                                                                                                        Annexure- XIII

                                     Format for Performance Guarantee

BANK GUARANTEE

To
 The Internal Auditor
 INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
 Plate A & B, Block- 2, 5th Floor
 NBCC Tower, East Kidwai Nagar
 Delhi ­ 110 023

(Hereinafter referred to as "IIFCL / you")

Whereas consequent to your Request For Proposal (RFP)/Tender No. ................. dated ................
you have issued an Appointment Letter dated ________ to M/s _________________, having its corporate
office at _____________ (hereinafter referred to as "the Bidder") for updation of existing Internal Audit
Manual of IIFCL based upon Risk based Internal Audit Approach & handholding support for one
quarter Internal Audit.

Whereas as per the payment terms of the said RFP, the Bidder has to submit a Bank Guarantee
from any scheduled commercial bank, in favour of IIFCL.

And whereas, we, ___________Bank, having our branch office at ________________________________
(hereinafter referred to as "the Guarantor") on the request of the bidder hereby expressly and
unreservedly undertake and Guarantee to pay to you, a sum not exceeding  _________/- (Rupees
___________________Only), being 10% of the value of the RFP, in the event of any breach by the Bidder
of the obligations under your said Purchase Order, or reasons attributable to the Bidder on
account of the same. This Guarantee shall be limited to an amount not exceeding _________/-
(Rupees _________________Only). You may raise a demand on us in writing stating the amount claimed
under the Guarantee and on receipt of your claim in writing, without any demur, protest or contest
and without any reference to the Bidder, we the Guarantor shall make the payment under this
Guarantee to IIFCL within 24 hours of receipt of written claim / demand.

We the Guarantor, further confirm that a mere letter from the IIFCL that there has been a breach
by the Bidder of its obligations or there are sufficient reasons for invoking this Guarantee, shall
without any other or further proof be final conclusive and binding on the Guarantor.

We shall not be discharged or released from this undertaking and the Guarantee by any
arrangement, variation, violation between you and the Bidder, indulgence to Bidder by you with or
without our consent or knowledge and this Guarantee shall be in addition to any other Guarantee
or security you possess against the Bidder.


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This Guarantee shall be a continuing Guarantee and shall not be discharged by any change in the
constitution of IIFCL, Guarantor or the Bidder. It is further guaranteed that the payment under this
Guarantee shall be made by us on receipt of your written demand as aforesaid making reference to
this Guarantee.
Notwithstanding anything contained hereinabove, our liability under this Guarantee is restricted
to ________/- (Rupees ________________Only).

This Guarantee shall remain in full force and valid at all times during the term of the contract and
for a period of 60 days beyond all contractual obligations of your assignment. Thereafter, all your
rights under this Guarantee shall be forfeited and we shall be relieved and discharged from all
liabilities there under and our Guarantee shall be considered as null and void whether returned to
ourselves or not.

Date :
Place :
For _______________
(Branch and Bank)




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                                                                     India Infrastructure Finance Company Limited (IIFCL)
Request for Proposal (RfP) for appointment of Consulting Entity for updation of Existing Internal Audit Manual of IIFCL
            based upon Risk based Internal Audit (RBIA) Approach & handholding support for one quarter Internal Audit


                                                                                                    Annexure- XIV

                                      List of Departments in IIFCL


1.    CMD Secretariat
2.    Rajbhasha
3.    Environmental and Social Management Unit (ESMU)
4.    Multilaterals/Bilateral agencies/World Bank & Procurement
5.    NPA Management
6.    Audit & Tax
7.    Coordination & Compliance
8.    Risk Management
9.    Information Technology
10.   Resources & Treasury
11.   Business Development
12.   Accounts
13.   Corporate Communication
14.   General Administration Department(GAD)
15.   Credit, Credit Monitoring
16.   Board Secretariat
17.   Vigilance
18.   Corporate Planning & Library
19.   Legal
20.   Human Resource
21.   Corporate Social Responsibility (CSR)
22.   Management Information System (MIS)
23.   Internal Audit
24.   Credit Support Division
25.   RTI & Grievance Cell
26.   ISO Dept.




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