What happens if the contract is rescinded?

c) The PG will be held indefinitely

d) The PG will be transferred to another project

Under which specific circumstances can the Engineer make a claim under the PG?

a) Contractor's failure to extend the PG's validity

b) Contractor's failure to pay the President of India any due amount

c) Contract is determined or rescinded under specific contract clauses

What is the meaning of "Limited Tenders"?

B. Tenders invited from some contractors

A. Tenders invited from all contractors

C. Tenders invited from unapproved contractors

D. Tenders invited in an open and public manner

What is the meaning of "Open Tenders"?

D. Tenders invited in an open and public manner

A. Tenders invited from all contractors

B. Tenders invited from some contractors

C. Tenders invited from unapproved contractors

Who is considered the "Contractor's authorized Engineer"?

C. A graduate engineer with 3 years of experience

A. A graduate engineer with 1 year of experience

B. A graduate engineer with 2 years of experience

D. A graduate engineer with 4 years of experience

What is the definition of "Bill of Quantities"?

A. Schedule of Item(s) included in the tender document along with respective quantities.

B. Schedule of Item(s) excluded from the tender document.

C. Schedule of Item(s) with incorrect quantities.

D. Schedule of Item(s) with no quantities mentioned.

When is the date of inviting tender?

A. The date of publishing tender notice on IREPS website

B. The date of submission of tender

C. The date of opening of tender

D. The date of awarding the contract

Can unapproved contractors participate in Limited Tenders?

C. It depends on the nature of the work involved

D. It depends on the contractor's experience

Is there a difference in the way Open Tenders and Limited Tenders are invited?

C. It depends on the nature of the work involved

D. It depends on the contractor's experience

What is the minimum qualification required to be a Contractor's authorized Engineer?

B. Bachelor's degree in Engineering

C. Master's degree in Engineering

D. Doctoral degree in Engineering

Can the date of inviting tender be the date of publication in a newspaper?

C. It depends on the nature of the work involved

D. It depends on the contractor's experience

What is the purpose of submitting the Bid Security with the tender?

B. To ensure due performance of the work

A. To pay for the estimated cost of the work

C. To secure the tendering process

D. To exempt the tenderer from the conditions of tender

What is the percentage of Bid Security required for works estimated to cost up to ₹1 crore?

B. 2% of the estimated cost of work

A. 1% of the estimated cost of work

C. 3% of the estimated cost of work

D. 4% of the estimated cost of work

What is the Bid Security required for works estimated to cost more than ₹1 crore?

C. ₹2 lakh plus ½% of the excess of the estimated cost of work beyond ₹1 crore

D. ₹1 lakh plus 1% of the excess of the estimated cost of work beyond ₹1 crore

What is the purpose of rounding off the Bid Security to the nearest ₹100?

A. To make it easier to calculate

B. To ensure a fair bidding process

C. To simplify the tender document

D. To reduce the Bid Security amount

Are Startups recognized by DIPP exempted from paying Bid Security?

C. It depends on the size of the Startup

D. It depends on the nature of the work involved

What is the maximum exemption limit for Startups recognized by DIPP for Bid Security?

D. There is no maximum exemption limit

Are Labour Cooperative Societies required to submit the same amount of Bid Security as other tenderers?

C. It depends on the size of the Cooperative Society

D. It depends on the nature of the work involved

What percentage of Bid Security is required for Labour Cooperative Societies?

B. 50% of the amount required for other tenderers

A. 25% of the amount required for other tenderers

C. 75% of the amount required for other tenderers

D. 100% of the amount required for other tenderers

Is the Bid Security applicable for all modes of tendering?

C. It depends on the nature of the work involved

D. It depends on the size of the tendering agency

What does EMD stand for?

C. Engineering Management Division

D. Electronic Manufacturing Device

What is the purpose of EMD/Bid Security?

A. To ensure that the bidder has the financial capacity to complete the work

B. To pay for the estimated cost of the work

C. To cover any damages caused by the bidder

D. To guarantee the bidder a contract

What is the significance of renaming EMD to Bid Security?

B. It eliminates confusion between EMD and other deposits

A. It simplifies the tender process

C. It reduces the amount required for Bid Security

D. It increases the amount required for Bid Security

What is the difference between EMD and Bid Security?

D. EMD is a deposit paid at the time of bidding, while Bid Security is a deposit paid at the time of signing the contract

A. There is no difference, they mean the same thing

B. EMD is required for all types of tenders, while Bid Security is only required for limited tenders

C. EMD is paid by the bidder to the tendering agency, while Bid Security is paid by the tendering agency to the bidder

Who is required to pay EMD/Bid Security?

C. The bidders participating in the tender

B. The contractor awarded the contract

D. The suppliers providing materials for the project

What is the amount of Bid Security required for Limited Tenders?

B. 2% of the estimated cost of work

A. 1% of the estimated cost of work

C. 5% of the estimated cost of work

D. 10% of the estimated cost of work

When is the Bid Security returned to the bidder?

A. When the bidder is awarded the contract

C. When the contract is terminated

D. When the bidder withdraws their bid

Can Bid Security be forfeited by the tendering agency?

A. Yes, if the bidder does not sign the contract

B. Yes, if the bidder does not complete the work as per the contract

C. Yes, if the bidder submits a false bid

Is Bid Security applicable for all types of tenders?

C. It depends on the estimated cost of the work

D. It depends on the nature of the work involved

What are the options for depositing Bid Security?

B. Cash through e-payment gateway or Bank Guarantee bond

C. Electronic funds transfer or Bank Draft

D. Bank Guarantee bond or Cheque

How long is the Bank Guarantee bond valid for?

C. 90 days beyond the bid validity period

A. 30 days beyond the bid validity period

B. 60 days beyond the bid validity period

D. 120 days beyond the bid validity period

What is the requirement for uploading the Bank Guarantee on the e-Procurement Portal?

A. Only a scanned copy is required

B. Only the original copy is required

C. Both a scanned copy and original copy are required

D. Neither a scanned copy nor an original copy is required

When is the Pre Bid Conference conducted?

A. Only for tenders with advertised value over Rs 50 Crore

B. Only for tenders with advertised value over Rs 1 Crore

C. Only for tenders with advertised value over Rs 10 Crore

D. Only for tenders with advertised value over Rs 100 Crore

What is the purpose of the Pre Bid Conference?

B. To allow prospective bidders to ask questions and clarify doubts

A. To award the contract to the most qualified bidder

C. To test the technical and financial credentials of the bidders

D. To reduce the advertised value of the tender

Are Technical and Financial credentials required for tenders having advertised value up to Rs 50 lakh?

C. It depends on the nature of the work involved

D. It depends on the tendering agency

What is the significance of the advertised value of the tender?

B. It determines the Bid Security required for the tender

A. It determines the number of bidders who can participate in the tender

C. It determines the mode of payment for the Bid Security

D. It determines the duration of the contract

Can the Bid Security be submitted as a Bank Draft?

C. It depends on the nature of the work involved

D. It depends on the tendering agency

Who should the original Bank Guarantee be delivered to?

C. The official nominated as indicated in the tender document

GCC - PG

Authored by Daniel Jayakumar

Specialty

12th Grade

Used 1+ times

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96 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Within how many days must the successful bidder submit a PG from the date of issue of the Letter of Acceptance (LOA)?

a) 7 days

b) 14 days

c) 21 days

d) 30 days

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the penal interest charged for delays in submitting the PG beyond 21 days?

a) 6% per annum

b) 8% per annum

c) 10% per annum

d) 12% per annum

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens if the PG is not submitted within 60 days?

a) The contract is suspended

b) The contract is liable to be terminated

c) The contract is extended

d) Nothing happens

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of the original contract value should the PG amount to?

a) 2%

b) 5%

c) 7%

d) 10%

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When must the PG be submitted?

a) Before the LOA is issued

b) After the LOA is issued but before signing the contract agreement

c) After signing the contract agreement

d) During the contract performance

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For how long should the PG be valid?

a) Up to the stipulated date of completion

b) Up to the stipulated date of completion plus 30 days

c) Up to the stipulated date of completion plus 60 days

d) Up to the stipulated date of completion plus 90 days

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When will the PG be released?

a) After the financial completion of work

b) After the physical completion of work

c) After the project's final approval

d) After the contractor's final payment

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GCC - PG

Within how many days must the successful bidder submit a PG from the date of issue of the Letter of Acceptance (LOA)?

What is the penal interest charged for delays in submitting the PG beyond 21 days?

What happens if the PG is not submitted within 60 days?

What percentage of the original contract value should the PG amount to?

When must the PG be submitted?

For how long should the PG be valid?

When will the PG be released?

What happens if the contract is rescinded?

Under which specific circumstances can the Engineer make a claim under the PG?

Does the value of the PG change due to subsequent variations in the original contract value?

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