Manikanchan II Request for Proposal

8/6/2019 Manikanchan II Request for Proposal

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REQUEST FOR PROPOSAL

TABLE OF CONTENTS

Part I: Invitation for Bids

1 Definitions

2 Introduction to Bidding procedures

3 Instructions to Applicant (s)

4 Criteria for Evaluation

5 Miscellaneous

ANNEXURES

I Cover Letter of the Proposal

II. Format of Power of Attorney for signing of Proposal

III. Format of Power of Attorney for Lead Member of Consortium

IV. Format of the Memorandum of Understanding to be executedbetween the Members of the Consortium

V. Format of Financial Bid

VI. Format of Bank Guarantee as Bid Security

Part II: Project Information Memorandum



RfP for Setting Up of a Diamond Processing/ Gems & Jewellery Unit at Manikanchan II, SEZ

DISCLAIMER

The information contained in this Request for Proposal (the “RfP”) or subsequently provided to

interested parties, whether verbally or in documentary form by or on behalf of representatives of West

Bengal Industrial Development Corporation Ltd. (WBIDC) or by any of their employees or advisors or

consultants, is provided to Applicant(s) on the terms and conditions set out in this RfP document and any

other terms and conditions subject to which such Information is provided.

This RfP document is not an agreement neither an offer by WBIDC to any other party/ agency. The purpose

of this RfP document is to provide Applicants with information to assist the preparation of their Proposal(s).

This RfP document does not purport to contain all the information each Applicant may require. Each

Applicant is expected to conduct its own investigations and analysis and should check the accuracy,

reliability and completeness of the information in this RfP document as well as the Project Information

Memorandum (PIM) given in Part-2 which forms an integral part of the RfP document and obtain

independent advice from appropriate sources. WBIDC, their employees, advisors and consultants make no

representation or warranty and shall incur no liability under any law, statute, rules or regulations as to the

accuracy, reliability or completeness of the RfP document.

WBIDC may in their absolute discretion, but without being under any obligation to do so, update, amend or

supplement the information including the qualification process in this RfP document at any time.

WBIDC reserves the right to accept or reject any or all Proposal(s), and qualify or disqualify any or all

applicants without giving any reasons.

WBIDC will not entertain any claim for expenses in relation to the preparation of RfP submissions.

1 West Bengal Industrial Development Corporation Ltd.




1. DEFINITIONS

In this RfP, unless the context otherwise requires, the following terms and expressions shall have the

meanings assigned to them herein:

(a) “Anchor Unit” means the selected Applicant(s) after the Evaluation Stage of the proposal process

is duly completed in compliance with the provisions of this document who will, inter alia, be

responsible for setting up a Diamond Processing/ other Gems & Jewellery Unit covering a built up

area of at least 100000 sq.ft. at the Manikanchan Phase II, Special Economic Zone, Kolkata, and

who will also have other rights and obligations as set forth in the RfP and other Project Documents;

(b) “Applicant(s)” means interested parties to whom this RfP has been issued or made available, or

those parties who have procured it, directly or indirectly, by or from WBIDC or itsadvisors/consultants and includes a single entity or more entities comprised in a consortium

(c) “GoWB” means the Government of the State of West Bengal;

(d) “Indian Rupees”, “Rupees” or “Rs” mean the lawful currency of the Republic of India;

(e) “Information” means all information contained in the RfP or subsequently provided to the

Applicant(s), whether verbally or in documentary form, by or on behalf of WBIDC or the Government

Representatives or any of their employees or consultants/advisors;

(f) “Project” means setting up a Diamond Processing/ Gems & Jewellary Unit at Manikanchan II,

Special Economic Zone, Kolkata over minimum 100000 sq.ft. of built up space;

(g) “Project Information Memorandum” means the document enclosed in Part 2 of the RfP. This

forms an integral part of the RfP document.

(h) “Proposal” means the Proposal prepared and submitted in accordance with the contents of this

RfP and in the form and format prescribed in Annexures herein;

(i) “Proposal Due Date” shall have the meaning ascribed in Clause 3.11.7 herein;

(j) “WBIDC” means West Bengal Industrial Development Corporation Limited;





2. INTRODUCTION TO BIDDING PROCEDURES

2.1 Overall Bidding process

2.1.1 For the purpose of selection of the Anchor Unit(s), the following bidding process is proposed to be

followed. “Anchor Unit(s)” means the selected Applicant(s) who after this bidding process will be

responsible for setting up a Diamond Processing Unit and/ or manufacturing unit of platinum/ silver/

gold jewellery which inter alia includes any one or more unit of:

• Diamond Studded Jewellery,

• Cast Jewellery,

• Machine Jewellery,

• Handcrafted Jewellery,

• Lifestyle Items

on a minimum 100000 sq.ft. built up space (Manufacturing Space) in Manikanchan Phase II,

Special Economic Zone, Kolkata.

The space will be allotted to the selected Applicant(s) for 99 (ninety nine) years lease from the date

of signing of the Lease Agreement. The Lease herein created may be renewed for a further term on

mutually decided terms and conditions.

The selected Anchor units intending to bring in vendors for ancilliaries should indicate the space

requirements for such ancilliary units in their proposal. Arrangements with such ancilliary units will

be finalized through upfront price agreements with WBIDC separately.

The selected Applicant / Anchor Unit shall have to set up, operate and maintain a Training Centre

for Gems and Jewellery including Diamond (preferably) artisans and workers within the premises for

which about 25,000 sqft. of space (Training Space) will be provided by WBIDC on 99 (ninety nine)

years lease from the date of signing of the Lease Agreement.

2.1.2 Every Applicant is required to submit their Financial Quote as per specified format for the

Manufacturing Space and Training Space separately in Rupees per Sq.ft. of built up area as Lease

Premium for the space. Any Proposal which is not in specified format as given in Annexure V will be

liable to be rejected. All Proposals will be evaluated on the basis of the financial and technical

parameters set out in Section 4 of this document.

2.1.3 WBIDC will not be responsible for any delay, loss or non-receipt of the proposal sent by post/

courier. Further, WBIDC shall not be responsible for any delay in receiving the proposal for any

reason whatsoever and reserves the right to accept/ reject any or all proposal(s) without assigning





any reason thereof. The Proposal must be sent to the address mentioned in Clause 2.1.7 by

registered post/ speed post/ courier/ hand delivery.

2.1.4 RfP Document should be downloaded from the website http//www.wbidc.com or www.srei.com.

The cost of the RfP document will be Rs 25,000 (Rupees Twenty Five Thousand) only which will

have to be deposited in the form of DD / Pay Order drawn in favour of “ The Managing Director,

West Bengal Industrial Development Corporation Ltd” payable at “Kolkata” and submitted

along with the proposal.

2.1.5 Proposal in Duplicate (one original and one copy) must be submitted in a bound form with all pages

numbered serially, along with an index of submissions. In the event, any of the instructions

mentioned in this RfP document have not been adhered to, the Proposal is liable to be rejected

without further reference.

2.1.6 The Applicants shall submit a Bid Security of Rs. 10,00,000/- (Rupees Ten Lakh only) along with the

Bid by way of Pay Order/ Demand Draft/ Banker’s Cheque drawn on any Scheduled Bank in Kolkata

in favour of “West Bengal Industrial Development Corporation Ltd” payable in “Kolkata” or in

the form of Bank Guarantee as per the format given in Annexure VI.

2.1.7 Proposal must be received no later than 1600 hrs on 17/05/2010, in the manner specified in this

RfP, at the following address:

The Managing Director,

West Bengal Industrial Development Corporation Ltd.5, Council House Street,

Kolkata – 700 001, West Bengal

2.2 Time Schedule

The indicative timetable for development of this project is as follows:

1. Publication of RfP Document: 30/03/2010

2. Last date for receiving queries & Pre bid meeting 22/04/2010

3. Response to queries: 04/05/2010

4. Bid Submission Due Date: 17/05/2010

5. Opening of Technical Proposal: 17/05/2010

6. Opening of Financial Proposal: 30/06/2010

7. Issue of Letter of Intent 30/07/2010





3. INSTRUCTIONS TO APPLICANT(S)

3.1. Eligible Applicants

Proposal may be submitted by Indian companies, Overseas Corporate Bodies (OCBs), Foreign

Companies (subject to such OCBs/ foreign companies obtaining all statutory approvals from

GOI/FIPB/RBI etc. by themselves prior to the submission of the proposal against this RfP

document), either individually or as consortium. Applicant(s) must be existing entrepreneur(s) in

the field of Diamond Processing/ Gems & Jewellery. The Applicant may be a single entity or a

group of entities (“Consortium”), coming together to set up the unit for the specified purpose. In

case of Consortium, maximum number of partners/ members allowed will be limited to three. The

members of the Consortium shall nominate one of them as the ‘Lead Member’. The purchaser of

the RfP document must be the single entity itself or the lead or any member of the Consortium

submitting the Proposal. The Applicant should submit Power of Attorney as per the formats

enclosed at Annexure II and III, authorising the signatory of the RfP Document/ Lead member to

commit on behalf of the company/ consortium.

Proposal submitted by a Consortium should comply with the following additional requirements:

a. The Proposal should contain the information mentioned in Appendices A, B, and C for each

member of the Consortium;

b. Any Applicant who submits or participates in more than one Proposal will be disqualified and will

also lead to disqualification of the Consortium(s) of which it is a member;

c. Members of the Consortium shall enter into a Memorandum of Association (the “MoA”) for the

purpose of making the Proposal. A copy of the MoA should be submitted with the Proposal. Theformat for the MoA is enclosed in Annexure IV. The MoA shall be governed by the laws, rules

and regulations of India and would be subject to jurisdiction of Indian courts alone.

3.1.1 Any entity which has been barred by WBIDC/ GoWB/ GoI or any Government agency from

participating in any bidding process in India and if the bar is subsisting as on the Proposal Due Date,

would not be eligible to submit an Proposal, either individually or as member of a Consortium. The

Applicant(s) are required to give a declaration to this effect.

3.2 Changes in Consortium Composition

Changes in the composition of a Consortium will be permitted prior to signing of the lease

agreement, provided that the changed Consortium be such that it would have also qualified

technically and financially as required by the provisions of the eligibility criteria and provided that the

Lead Member, in case of a Consortium, remains the same. Prior written consent of WBIDC will be

required for change in composition of consortium after submission of Proposal. However decision of

accepting or rejecting such change shall entirely be at the sole discretion of WBIDC. Where such a

change has been accepted by WBIDC, all relevant underlying documents comprising the original

proposal shall be changed/modified to accommodate such changed consortium in a manner to be

determined at the sole discretion of WBIDC.





3.3 Number of Proposals

Each Applicant shall submit only one (1) Proposal, in Duplicate (one original and one copy), in

response to this RfP. Any Applicant who submits or participates in more than one Proposal either as

a Lead member or otherwise will be disqualified and this will also lead to disqualification of the

Consortium(s) of which it is a member.

3.4 Proposal Preparation Cost

The Applicant shall be responsible for all costs associated with the preparation of its Proposal and

its participation in the bidding process, including, without limitation, any and all costs, direct or

indirect incurred in verifying, gathering and collating material, information and data, whether

included in the Information or not, or on securing the services of advisors and/ or consultants.

WBIDC will not be responsible or in any way liable for such costs, regardless of the conduct or

outcome of the Proposal(s)

3.5 Project Inspection and Site Visit

Applicants are advised to visit the site to ascertain the location, surroundings, or any other matter

considered relevant by it. The cost of visiting the site shall be borne by the Applicant. WBIDC shall

not be liable for such costs, regardless of the outcome of the selection process.

3.6 Applicant’s Warranty and WBIDC Presumption

3.6.1 It would be deemed that by submitting the Proposal, the Applicant warrants that it has:

(a) Made a complete and careful examination of the RfP document;(b) Received all relevant information requested from WBIDC;

(c) Independently verified all Information received from WBIDC, and

(d) it shall be further deemed that by submitting the Proposal to WBIDC, WBIDC is entitled to

presume the existence of and rely on the afore stated Applicant warranties.

3.6.2 WBIDC shall not be liable for any wrongful presumption, mistake or error on the part of the Applicant

in respect of the above or in respect of the selection process generally.

3.7 Right to Accept Any Proposal and to Reject Any or All Proposals

Notwithstanding anything contained in this RfP, WBIDC reserves the right to accept or reject any

Proposal and to annul the RfP process and reject all Proposals, at any time without any liability or

any obligation for such acceptance, rejection or annulment, without assigning any reasons.

WBIDC reserves the right to reject any Proposal, if at any time a material misrepresentation is made

or uncovered. This would lead to the disqualification of the Applicant.

If such disqualification and/ or rejection occur after the financial bid have been opened and the

successful Applicant gets disqualified and/ or rejected, then WBIDC reserves the right to either:





a. Invite the next Applicant in terms of the qualified financial bid to match the highest bid; or

b. Take any measure as may be deemed fit at the sole discretion of WBIDC including annulment of

entire bidding process and inviting fresh Proposals.

3.8 Documents

3.8.1 Contents of RfP

The RfP comprises the contents as listed below, and would additionally include any additional

documents issued in accordance with Clause 3.10.

Part I

Invitation for Qualification

Section 1 Definitions

Section 2 Introduction to Bidding procedures

Section 3 Instructions to Applicant(s)

Section 4 Criteria for Evaluation

Section 5 Miscellaneous

Annexures

Annexure I: Cover Letter of the Proposal

Annexure II: Format of Power of Attorney for Signing of Proposal.

Annexure III: Format of Power of Attorney for Lead Member of Consortium.

Annexure IV: Principles of the Memorandum of Association to be executed between the

Members of the Consortium.Annexure V: Format of Financial Bid

Annexure VI: Formal of Bank Guarantee as Bid Security

Part II

Project Information Memorandum

3.9 Clarifications

A prospective Applicant requiring any clarification on the RfP document may notify WBIDC in writing

by facsimile or email at the contact specified in Clause 2.1.7. This should be followed by an original

copy submitted subsequently to the contact specified in Clause 2.1.7.

3.10 Amendment of RfP

At any time prior to the Proposal Due Date, WBIDC may, for any reason, whether at its own initiative

or in response to clarifications requested by an Applicant, modify or amend the RfP by the issuance

of addenda (“Addenda” or “Addendum”, as the case may be). Any Addendum thus issued will be

sent in writing to all those who have purchased the RfP document. In order to afford the Applicants

a reasonable time in which to take an Addendum into account, or for any other reason, WBIDC may,





at its discretion, extend the last due date for submitting the Proposal as provided in Clause 3.11.7

(“Proposal Due Date”).

3.11 Preparation and Submission of Proposal

3.11.1 Language

The Proposal and all related correspondence and documents should be written in the English

language. Supporting documents and printed literature furnished by Applicant with the Proposal

may be in any other language provided that they are accompanied by appropriate translations of

the pertinent passages in the English language. Supporting materials, which are not translated into

English, may not be considered. For the purpose of interpretation and evaluation of the Proposal,

the English language translation shall prevail.

3.11.2 Currency

The Applicant shall quote the amount of the financial Bid in Indian Rupees (INR) both in figures as

well as words. In case of any discrepancy between the amounts in words and figures, the amount

stated in words shall prevail and the same shall be binding on the Applicant.

The prices quoted should be firm and net of all other payments, costs, charges including legal

costs, stamp duty, registration charges, other charges for transfer of property, taxes, duties, levies

or any other statutory impositions. The offer price shall hold good till the Agreement is signed and

shall not be subject to any changes whatsoever. All taxes, duties, levies, cess or any other statutory

impositions applicable will be payable by the successful Applicant.

3.11.3 Validity of Proposal

Applicants, by submitting Proposal, agree that Proposal shall be valid for a period of 6 months from

the Proposal Due Date (the “Proposal Validity Period”). WBIDC reserves the right to reject any

Proposal, which does not meet this requirement.

3.11.4 Extension of Validity of Proposal

In exceptional circumstances, prior to expiry of the original Proposal Validity Period, WBIDC may

request Applicants to extend the Proposal Validity Period for a specified additional period.

3.11.5 Format and Signing of Proposal

The Applicant would provide all the information as per this RfP. WBIDC would evaluate only those

Proposals that are received in the required format and complete in all respects. The Applicant shall

prepare one original of the documents comprising the Proposal and clearly marked “ORIGINAL”.

The DD towards cost of RfP Document and Bid Security shall be enclosed with the Original

document. In addition, the Applicant shall make one (1) copy of the Proposal, clearly marked

“COPY”. In the event of any discrepancy between the original and the copy, the original shall

prevail. The Proposal and its copy shall be typed or written in indelible ink and each page shall be





initialed by the Applicant. All the alterations, omissions, additions, or any other amendments made

to the Proposal shall be initialed by the person (s) signing the Proposal.

3.11.6 Sealing and Marking of Proposal

(1) The Applicant shall seal the original and duplicate copy of the Proposal in separate envelopes,

duly marking the envelopes as “ORIGINAL” and “COPY”. The 2 packet system will be followed

for submission. The first will be the Technical packet containing the Original and the

COPY of the Technical proposal duly marked as such. The second will be the Financial

packet containing the ORIGINAL and COPY of the Financial bid duly marked as such.

Each of these 2 packets will be put in a Master Envelope duly superscribed with the

project description as mentioned in point number (4) of this section.

(2) Packet 1: Technical Packet will contain:

(A) Demand Draft towards cost of RfP Document (Only with ORIGINAL)

(B) Bid Security of Rs. 10,00,000/- (Only with ORIGINAL)

(C) Covering letter as per Annexure I stating clearly the validity of the Proposal (See Clause

3.11.3);

(D) Proposal in the prescribed formats along with supporting documents;

(E) Power of Attorney as per the format enclosed at Annexure II;

(F) Power of Attorney as per the format enclosed at Annexure III, in case of Consortium;

(G) Copy of the MoA in case of a Consortium;

(H) Annual Reports of last three financial years i.e. 2008-09, 2007-08 and 2006-07

(I) Documentary evidence for justifying the Technical Capability of the Applicant which interalia include clients’ certificate, Incorporation Certificate, International Jewellery Brand

Certification etc.

(J) Project Profile

The Applicant should enclose a proposed project profile that substantiates their proposal to

set-up the proposed Unit over 100000 sq.ft. (minimum) of built up space. The profile should

include.

For Manufacturing Space:

Process Flow Chart

Nature and type of mechanization

Indicative outline layout plan

Infrastructure requirement

o Power

o Water

o Common Support Services

A business plan giving

o Estimated Investment

o Proposed Means of Finance





o Indicative Marketing Plan including exports

o Indicative Future Turnover of the Unit

o Employment likely to be generated

o Any other information

Implementation Schedule for the proposed unit, with milestones

Any other relevant information

For Training Space

Estimated number of trainees per year as Craftsmen/ Designer

Nature and type of Training for Craftsmen and Designers

Course Duration

Student strength per batch

No. of batches per year along with Training Schedule

Course Fee per training session

(3) Packet 2: Financial Packet will contain:

(a) The Financial Bid in the specified format given in Annexure V

(b) Every Applicant shall have to mention their financial quote for Manufacturing Space

and Training Space

(c) Any Bid which is not accompanied with separate quotation for Manufacturing Space

and Training Space will not be considered for evaluation and their Application shall

be liable to be rejected.(d) The Financial Bid in the specified format given in Annexure V. The Original and

Duplicate Copy of the Financial Bid shall have to be submitted in one sealed

envelope mentioning each as “ORIGINAL” and “COPY” as applicable. Premature

opening of financial bid due to inappropriate sealing and marking will make the

proposal ineligible for consideration for evaluation purposes.

(4) The Technical and Financial packets as well as the Master Envelope shall clearly bear the

following identification - “Proposal for Setting Up of a Diamond Processing/ Gems &

Jewellery Unit at Manikanchan II, Special Economic Zone, Kolkata” and marked

additionally as “Technical” and “Financial” as applicable.

(5) The Master Envelope shall be addressed to:


West Bengal Industrial Development Corporation Ltd.

5, Council House Street,






(6) If the envelope is not sealed and marked as instructed above, WBIDC assumes no responsibility

for the misplacement or premature opening of the contents of the Proposal submitted.

(7) Further, all copies of every Proposal must be submitted in a bound form (spiral bound or any

bound form) with all pages numbered serially, along with an index of submissions. In the event,

any of the instructions mentioned herein have not been adhered to, WBIDC may reject the

Proposal.

3.11.7 Proposal Due Date

Proposal should be submitted not later than 1500 hours IST on 17/05/2010, at the address provided

in Clause 3.11.6 in the manner and form as detailed in this RfP. Proposal submitted by either e-mail,

facsimile transmission or telex would not be acceptable. Proposal submitted after the time stated

above will be rejected.

WBIDC may, in exceptional circumstances, and at its sole discretion, extend the Proposal Due Date

by issuing an Addendum in accordance with Clause 3.10.

3.11.8 Late Proposal

WBIDC will not accept any Proposal received by it after the Proposal Due Date for any reason

whatsoever. WBIDC will not be responsible for any delay, loss or non-receipt of the Proposal.

3.11.9 Modifications / Substitution / Withdrawal of Proposal

The Applicant may modify, substitute, or withdraw its Proposal after submission, provided thatwritten notice of the modification, substitution, or withdrawal is received by WBIDC by the Proposal

Due Date. No Proposal shall be modified, substituted, or withdrawn by the Applicant after the

Proposal Due Date.

The modification, substitution, or withdrawal notice shall be prepared, sealed, marked, and delivered

in accordance with Clause 3.11.6 with the envelopes being additionally marked

“MODIFICATION”,“SUBSTITUTION” or “WITHDRAWAL”, as appropriate.

3.12 Evaluation of Proposal

3.12.1 Opening of Proposal

WBIDC would open the Proposal at 1600 hours on 17/05/2010 or at any other amended date and

time for the purpose of evaluation. Applicants can depute their representatives at the duly

scheduled date as mentioned in clause 2.2 or any other amended date for witnessing the

opening of the Proposal.

Proposal for which an acceptable notice of withdrawal has been submitted in accordance with

Clause 3.11.9 shall not be opened and returned unopened to the applicant. WBIDC would





subsequently examine and evaluate the Proposals in accordance with the criteria set out in Section

4 of this RfP document.

WBIDC reserves the right to reject any Proposal if:

a. At any time, a material misrepresentation is made or uncovered; or

b. The Applicant does not respond promptly and thoroughly to requests for supplemental information

required for the evaluation of the Proposal.

3.12.2 Confidentiality

Information relating to the examination, clarification, evaluation, and recommendation in relation to

the Pre-qualified Applicants shall not be disclosed to any person not officially concerned with the

process. WBIDC will treat all information submitted as part of Proposal in confidence and would

require all those who have access to such material to treat the same in confidence. WBIDC will not

divulge any such information unless it is ordered to do so by any authority that has power under law

to require its disclosure. WBIDC however reserves the right to make public disclosure of the names

of the Applicants.

3.12.3 Tests of responsiveness

Prior to evaluation of Proposal, WBIDC will determine whether each Proposal is responsive to the

requirements of the RfP. A Proposal shall be considered responsive if the Proposal:

(A) Is received /deemed to be received by the Proposal Due Date including any extension

thereof;

(B) Is signed, sealed and marked as stipulated;(C) Is accompanied by the DD towards cost of RfP Document

(D) Is accompanied by the DD/ Bank Guarantee towards Bid Security

(E) Is accompanied by the Power(s) of Attorney as applicable;

(F) Contains all the information as requested in the RfP;

(G) Contains information in formats same as those specified in this RfP;

(H) Agrees to the validity period as specified;

(I) Is accompanied by the MoA (for Consortium and specific to the Project) as stipulated; and

(J) Contains the Project Profile referred to in Para 3.11.6.(2).(j):

WBIDC reserves the right to reject any Proposal which is non-responsive and no request for

alteration, modification, substitution or withdrawal shall be entertained by WBIDC in respect of such

Proposal.

3.12.4 Clarifications

To facilitate evaluation of Proposal, WBIDC may, at its sole discretion, seek clarifications in writing

from any Applicant regarding its Proposal.





4. CRITERIA FOR EVALUATION

4.1 Minimum Eligibility Parameters

4.1.1 The Applicant’s competence and capability is proposed to be established by the following minimum

criteria for eligibility:

(a) Technical capability

• The Applicant and Consortium Partner(s), if applicable should have minimum 3 years

business experience in operations and management of Gems & Jewellery unit(s)/ Diamond

Processing units including cutting, polishing of raw diamond and its ancillary activities and

• The Applicant and Consortium Partner(s), if applicable should be very experienced and

possess established brands of Jewellery/diamond items

(b) Financial capability• The Applicant should have an average minimum turnover of Rs.250 crores in the last three

financial years ending 31st March 2009 and minimum turnover of Rs.150 crores in each of the

financial years.

• The Applicant should have a minimum Net Worth Rs.50 crores as on 31st March 2009

• For computing the Turnover and Net Worth of the Applicant, the respective Turnover and Net

Worth of the Consortium Partner(s), if any, shall be taken into consideration for assessing

eligibility criteria.

Note: Net Worth = Subscribed and Paid-up Equity (including Share Premium, if any) + Reserves - Revaluation Reserves - Miscellaneous expenditure not written off -Deferred Revenue Expenditure - Deficit in Profit & Loss Account.

4.1.2 For the purposes of this clause, the financial year would be the same as the one normally followed

by the Applicant for its Annual Report.

The Applicant must submit details of its Technical and Financial capability as per Formats provided

as enclosures to Annexure – I and comprising Appendices A, B, C and D.

4.2 The Technical Packet will be opened and evaluated first for shortlisting of Applicants. The basis of

evaluation would comprise Applicants’ credentials, their financial soundness and the feasibility of the

project profile. Since this is a SEZ set up, particular attention would be given to the potential for

investments, employment and exports.

4.3 The Financial Bid (i.e. Packet 2) of only those who have been shortlisted in the Technical Stage will

be opened for evaluation.





4.4 The highest quote for the Manufacturing Space and Training Space will become the deciding

benchmark price for allotment. The Manufacturing Space to selected Anchor(s) will be allotted

based on the highest bid quoted by the Applicants which will be deemed to be the benchmark rate

for allotment of all manufacturing space to the other individual Applicant(s). In case, the highest

quotation amount for Manufacturing Space and Training Space would be of different Applicants, the

Applicant quoted highest financial bid for Manufacturing Space would have preferential right to

match the highest price of the Training Space for allotment of both the space.

4.5 Letter of Intent & Lease Agreement/ Lease Deed

4.5.1 On selection of the Anchor(s), WBIDC will issue a Letter of Intent to the selected Applicants for

signing Lease Agreement for allotment of space.

4.5.2 On completion of the commitments and obligations by the successful Applicant(s) in terms of their

offers against this RfP document and the terms of the Lease Agreement, WBIDC shall convert the

Lease Agreement to a Lease Deed upon payment of a nominal sum of Re 1 (Rupee one) only by

the successful Applicant(s). All costs related to the drawing up of the Lease Agreement/ Lease Deed

shall have to be borne by the successful Applicant(s).

4.6 Payment Terms

Payment Milestone Due Date Amount

Issuance of LOI 15 days from issue of LOI 25% of Quoted Amount

Signing of Lease

Agreement

30 days from signing of Lease

Agreement

25% of Quoted Amount

First Progressive

Payment

1 year from the date of signing of

Lease Agreement

25% of Quoted Amount

Final Payment On handing over of possession 25% of Quoted Amount

4.7 The Bid Security of all the Applicants, will be returned on signing the Lease Agreement as stated in

Clause No. 4.5.

4.8 The Anchor Unit shall have to start its operation within 6 months from the date of possession of the

Manufacturing Space. In case of default, WBIDC shall give a notice to the Anchor Unit to start such

operation within a period of 30 days, failing which, after giving 15 days notice to cure the said defect,

cancel the allotment and forfeit 10% of the Lease Premium amount.

4.9 Disqualification

Even if the Applicants meet the above criteria, they are subject to be disqualified if the Applicants,

have:





(1) Made, incorrect, misleading or false representations in the forms, statements and attachments

submitted, whether intentionally or unintentionally; or

(2) Been debarred by WBIDC or GoWB/ GoI or any other Government agencies from participation in

tenders.





5. MISCELLANEOUS

5.1 The Bidding Process shall be governed by, and construed in accordance with, the laws of India and

the Courts at West Bengal shall have exclusive jurisdiction over all disputes arising under, pursuant

to and/ or in connection with the Bidding Process.

5.2 WBDIC, in its sole discretion and without incurring any obligation or liability, reserves the right, at

any time, to;

(a) suspend and/ or cancel the Bidding Process and/ or amend and/ or supplement the Bidding

Process or modify the dates or other terms and conditions relating thereto;

(b) consult with any Applicant in order to receive clarifications or further information;

(c) shortlist or not to shortlist at Technical evaluation stage any Applicant and/ or to consult with any

Applicant in order to receive clarifications or further information;

(d) retain any information and/ or evidence submitted to the WBDIC by, on behalf of, and/ or in

relation to any Applicant; and/ or

(e) independently verify, disqualify, reject and/ or accept any and all submissions or other

information and/ or evidence submitted by or on behalf of any Applicant.

5.3 It shall be deemed that by submitting the Proposal, the Applicant agrees and releases the WBDIC,

its employees, agents, consultants and advisers, irrevocably, unconditionally, fully and finally from

any and all liability for claims, losses, damages, costs, expenses or liabilities in any way related to or

arising from the exercise of any rights and/ or performance of any obligations hereunder, pursuant

hereto and/ or in connection herewith and waives any and all rights and/ or claims it may have inthis respect, whether actual or contingent, whether present or future.





ANNEXURE I

(Cover Letter of the Proposal)

‘TO BE TYPED ON OFFICIAL LETTER HEAD’

Dated:



5, Council House Street


Sub: Proposal for setting up a Diamond Processing/ Gems & Jewellery Unit at Manikanchan II,

Special Economic Zone, Kolkata

Dear Sir,

With reference to your advertisement dated *****, I/we, having purchased/ downloaded and examined theRfP document and understood its contents, hereby submit my/ our Proposal for the aforesaid project.

1. The Proposal is unconditional and unqualified.

2. All information provided in the Proposal and in the Appendices and Annexures are true and

correct and all documents accompanying such Proposal are true copies of their respective

originals.

3. I/We declare that my/our Proposal shall remain valid for 6 months from the scheduled/ extended

Proposal Due Date

4. This statement is made for the express purpose of qualifying in the bidding process for allotment

of ------------ sq.ft. Manufacturing Space (Please mention the requirement of built up space

for the proposed unit in the earmarked processing zone subject to minimum 100000

sq.ft.) for setting up a Diamond Processing/ Gems & Jewellery Unit at Manikanchan II, Special

Economic Zone, Kolkata

5. I/ We shall acknowledge operate & maintain the Training Space and organize periodic training of suitable

courses if the space is allotted to us.

6. I/ We also acknowledge that I/ We have submitted my/ our Financial Quotation in the specified

format

7. I/We shall make available to the WBDIC any additional information it may find necessary or

require to supplement or authenticate the information contained in our proposal.

8. I/We acknowledge the right of the WBDIC to reject our Proposal without assigning any reason

or otherwise and hereby waive our right to challenge the same on any account whatsoever.

9. I/ We declare that I/ We have examined and have no reservations to the RfP document,

including any Addendum, if any issued by the WBDIC

10. I/ We understand that you may cancel the Bidding Process at any time and that you are neither

bound to accept any Proposal that you may receive nor to invite the Applicants to Bid for the

Project, without incurring any liability to the Applicants, in accordance with Clauses of the RfP

document.





11. I/ We believe that we/ our Consortium/ proposed Consortium complies with the requisite

Eligibility criteria and meet(s) the requirements as specified in the RfP document.

12. I/ We declare that we/ any Member of the Consortium are/ is not a Member of a/ any other

Consortium applying for the selection process.

13. I/We agree and undertake to abide by all the terms and conditions of the RfP document.

14. I/We declare that We/ Any Consortium Member are not barred by WBIDC/ GoWB/ GoI or any

Government agency from participating in any bidding process in India as on the Proposal Due

Date

In witness thereof, I/We submit this Proposal under and in accordance with the terms of the RfP document.

Yours faithfully,

Date: (Signature of the Authorised Signatory)

Place: (Name and designation of the Authorised Signatory)

Name and seal of the Applicant/Lead Firm






APPENDIX- A

Details of Applicant

1. (a) Name:

(b) Address of the corporate headquarters and its branch office(s),

(c) Date of incorporation and/ or commencement of business:

2. Brief description of the Company including details of its main lines of business:

3. Details of individual(s) who will serve as the point of contact/ communication for the WBDIC:

(a) Name:

(b) Designation:

(c) Company:

(d) Address:

(e) Telephone Number:

(f) E-Mail Address:

(g) Fax Number:

4. Particulars of the Authorised Signatory of the Applicant:

(a) Name:

(b) Designation:

(c) Address:

(d) Phone Number:

(e) Fax Number:

5. In case of a Consortium:(a) The information above (1-4) should be provided for all the members of the Consortium.

(b) A copy of the MoA, as per format in Annexure IV should be attached to the Proposal.





APPENDIX-B

Financial Capacity of the Applicant

(Refer to Clauses 4.1.1(b), of the RfP )

Name of Applicant or partner of a consortium:

Applicants, including each partner of a consortium, should provide financial information to demonstrate that

they meet the requirements stated in the Instructions to Applicants. Each applicant or partner of a consortium must fill in this form. If necessary, use separate sheets to provide complete information. A copy of the audited balance sheets and statement of profit and losses should be attached.

A. Details of BankerBanker Name of banker Address of banker

Telephone Contact name and title

Fax Email

B. Net Worth & Turnover Details of the bidding entity

Rs.

Net worth as on 31.3.2009 (Rs. )

Average Minimum Turnover in the last 3 financial yearsending on 31.3.2009

Annual Reports/ Audited financial statements including balance sheet, profit and loss statement for2006-07, 2007-08 & 2008-09 shall be enclosed as annexure






APPENDIX-C

Technical Capability

(Refer to Clauses 4.1.1(a) of the RfP )

1 Year of Incorporation

2 Nature of Business

3 Product Mix

4 Name of Clients

5 Name of Brands

5.1 For Diamond

5.2 For Gems and Jewellery

5.3 For Others

6 Import Volume (Rs. In crores) – last 3 yrs

7 Export Turnover (Rs. In crores) and Product List- last 3 years

8 Domestic Turnover (Rs. In crores) and Product List – last 3 years

9 Present Number of employees (with skills)

10 Any other information





Annexure I Appendix-IV


APPENDIX-D

Statement of Legal Capacity

(To be forwarded on the letterhead of the Applicant/ Lead Member of Consortium)

Ref. Date:

To,



5, Council House Street


Dear Sir,

We hereby confirm that we/ our members in the Consortium (constitution of which has been described in the

Proposal) satisfy the terms and conditions laid out in the RfP document.

*We have agreed that _____________ (insert member’s name) will act as the Lead Member of our

consortium.

We have agreed that ______________(insert individual’s name) will act as our representative/ will act as therepresentative of the consortium on its behalf* and has been duly authorized to submit the RfP. Further, the

authorised signatory is vested with requisite powers to furnish such letter and authenticate the same.

Thanking you,

Yours faithfully,

Authorised Signatory

For and on behalf of

*Please strike out whichever is not applicable.





ANNEXURE II

FORMAT OF POWER OF ATTORNEY FOR SIGNING OF PROPOSAL

(To be executed on Non-Judicial Stamp paper)

Power of Attorney

Know all men by these presents, We…………………………………………………. (name and address of the

registered office) do hereby constitute, appoint and authorise Mr / Ms……………………………… (name and

residential address) who is presently employed with us and holding the position of

……………………………………………. as our attorney, to do in our name and on our behalf, all such acts,

deeds and things necessary in connection with or incidental to our bid for allotment of built up space on

lease in the processing area of Phase II of Manikanchan SEZ, Kolkata in the country of India ( “The

Project”), including signing and submission of all documents and providing information / responses to WestBengal Industrial Development Corporation Limited (WBIDC), representing us in all matters before WBIDC,

and generally dealing with WBIDC in all matters in connection with our bid for the said Project.

We hereby agree to ratify all acts, deeds and things lawfully done by our said attorney pursuant to this

Power of Attorney and that all acts, deeds and things done by our aforesaid attorney shall and shall always

be deemed to have been done by us.

For ___________________________

(signature)

(Name, Title and Address of the Attorney)

Note:

(1) The mode of execution of the Power of Attorney should be in accordance with the procedure, if any, laid

down by the applicable law and the charter documents of the executant(s) and when it is so required the

same should be under common seal affixed in accordance with the required procedure.





ANNEXURE IIIFORMAT OF POWER OF ATTORNEY FOR LEAD MEMBER OF CONSORTIUM


Power Of Attorney

Whereas, West Bengal Industrial Development Corporation Limited (WBIDC) has invited Proposal from

interested parties for allotment of built up space on lease in the processing area of Phase II of Manikanchan

SEZ, Kolkata in the country of India (“the Project”).

Whereas, the members of the Consortium are interested in bidding for the Project and implementing the

Project in accordance with the terms and conditions of the RfP Document and other connected documents

in respect of the Project, and

Whereas, it is necessary under the RfP document for the members of the Consortium to designate one ofthem as the Lead Member with all necessary power and authority to do for and on behalf of the Consortium,

all acts, deeds and things as may be necessary in connection with the Consortium’s bid for the Project

NOW THIS POWER OF ATTORNEY WITNESSETH THAT;

We, M/s. ----------------------------, M/s ----------------------- and M/s ------------------------- (the respective names

and addresses of the registered office) do hereby designate M/s --------------------- being one of the members

of the Consortium, as the Lead Member of the Consortium, to do on behalf of the Consortium, all or any of

the acts, deeds or things necessary or incidental to the Consortium’s bid for the Project, including

submission of Proposal, participating in conferences, responding to queries, submission of information /

documents and generally to represent the Consortium in all its dealings with WBIDC, any other Government

Agency or any person, in connection with the Project until culmination of the process of bidding and

thereafter till the execution of relevant project documents as mandated by the RfP Document with WBIDC.

We hereby agree to ratify all acts, deeds and things lawfully done by the Lead Member pursuant to this

Power of Attorney and that all acts deeds and things done by our aforesaid attorney shall and shall always

be deemed to have been done by us/Consortium.

Dated this the ……Day of …….2009

…………………………………

(Executants)

(To be executed by all the members of the Consortium)





Note:

(1) The mode of execution of the Power of Attorney should be in accordance with the procedure, if any, laid

down by the applicable law and the charter documents of the executant’s(s) and when it is so required the

same should be under common seal affixed in accordance with the required procedure.





ANNEXURE IV

MEMORANDUM OF ASSOCIATION TO BE

EXECUTED BETWEEN THE MEMBERS OF THE CONSORTIUM


MEMORANDUM OF ASSOCIATION

This Memorandum of Association (MoA) entered into this ------ day of ------2010 at Kolkata

Between

---------------------- (hereinafter referred as ”Member 1”) and having Registered office at -----------------------------

Party of the First Part

And


Party of the Second Part

And


Party of the Third Part

The parties are individually referred to as Party and collectively as Parties.

PREAMBLE

WHEREAS West Bengal Industrial Development Corporation Ltd. (WBIDC) has invited Request for

Proposal for “Setting up a Diamond Processing/ Gems & Jewellery Unit at Manikanchan II, Special

Economic Zone, Kolkata” (hereinafter referred as ”Project”) at built up space of Manikanchan II

AND WHEREAS the space will be allotted to the Consortium if selected through the bidding process on 99

year lease

AND WHEREAS the Parties have had discussions for formation of a Consortium for applying for the said

Project and have reached an understanding on the following points with respect to the Parties’ rights and

obligations towards each other and their working relationship.

IT IS HEREBY AS MUTUAL UNDERSTANDING OF THE PARTIES AGREED AND DECLARED AS

FOLLOWS:





PURPOSE OF ASSOCIATION

The Consortium has been formed to jointly bid for the said Project as per the terms and conditions as stated

in the RfP Document

RESPONSIBILITIES OF THE PARTIES

1. M/s ------------ (Member 1) would be the Lead Member and M/s -------- (Member 2) & M/s --------

(Member 3) would be Consortium Members of the consortium.

2. The duties and responsibilities of each party shall be as mutually agreed.

3. The Lead Member would be authorized to receive instructions from WBIDC and for making payment

to WBIDC on allotment of the space in Manikanchan II, Special Economic Zone for and on behalf of

the Consortium.

4. The requirement of space in Manikanchan II, Special Economic Zone would be ------------ sq.ft.

(subject to minimum of 100000 sq.ft.) and the Parties has agreed to submit Proposal on behalf of

the Consortium for ------------ sq.ft. built up space in Manikanchan II, Special Economic Zone

5. The parties will share the space following manner:

a. Lead Member/ Member 1 : …..%

b. Member 2 : .….%

c. Member 3 : …..%

6. Each Party shall however keep the other Parties informed and obtain the concurrence in respect of

activities undertaken by them in discharge of its responsibilities. The Parties however from time to

time as they may mutually agree, modify, add, reduce, negotiate, amend or reallocate the

responsibilities in future.

7. The firms are jointly and severally liable to WBIDC for the performance of the duties and

responsibilities as mentioned in the RfP Document.

8. The MoA shall be valid for 36 months from the Proposal Due Date. The validity period of the MoA

would be extendible on the original terms, if required by WBIDC





PROPOSED ADMINISTRATIVE ARRANGEMENTS

9. For the management and execution of the Project administrative arrangements will be finalised by

the parties in the event the space has been awarded to the Consortium.

10. M/s ------------ (Member 1), M/s ------------ (Member 2) and M/s ------------ (Member 3) will be

represented by the following personnel:

Member 1 Member 2 Member 3

Name:

Designation:

Name of Firm:

Address:

Tel:

Fax:

Mail:

Name:

Designation:

Name of Firm:

Address:

Tel:

Fax:

Mail:

Name:

Designation:

Name of Firm:

Address:

Tel:

Fax:

Mail:

11. Shri ---------------------- hereby designated as the Authorized Signatory for the Consortium by the

Parties to this MoA.

OTHER TERMS AND CONDITIONS

12. That none of the Parties and/ or their representatives shall use, misuse, duplicate, disclose, divulge,

part with or communicate to any person other than those whose right it is to know the same or with

proper authority, whether directly or indirectly and whether in writing, verbally or otherwise, any

trade secrets, confidential knowledge, information, data, drawings, calculations, design, blue-prints,

processes, know-how, critical parameters, suppliers, customers, sourcing of materials, etc., or any

other technical, financial or any other kind of information of any kind or nature whatsoever and

howsoever significant that may come to their knowledge hereafter, in relation to and pertaining to

the Consortium, or to use or exploit such information for any purpose whatsoever, and shall use itsreasonable endeavors to prevent its employees from so using till the time the time space is allotted

to the Consortium.

13. That the Parties to the Consortium will bear expenses incurred by them related to the activities

undertaken by them in discharging their responsibilities, right from Pre Bid Activities till the time

space is allotted.





14. That this MoA stands terminated in the event of Consortium becomes unsuccessful in the bidding

process or immediately after allotment of space, incase the space is allotted to the Consortium.

Either of the party can terminate this MoA at a notice of 3 months to the other parties

15. That in the unlikely event of any dispute or difference arising out of or in connection with this MoA, itshall be exclusively and finally settled in accordance with the Indian Arbitration and Conciliation Act

1996 as amended from time to time.

16. That this MoA shall be governed in accordance with the laws of India and courts in India shall have

exclusive jurisdiction to adjudicate disputes arising from the terms herein.

FORCE MAJEURE

17. That no Party shall be liable to the other for failure to perform any obligation of such Party hereunder

to the extent and for such occurrence of any event beyond the control of such Party including but

not limited to war, embargo, blockade, sabotage, insurrection, rebellion, riot or other act of civil

disobedience, set of a public enemy, failure or delay in transportation, act of any government or any

agency or subdivision thereof, judicial action, labour dispute, strike, other labour or industrial

disturbances fire, accident explosion, epidemic, quarantine, restrictions storm, flood, earthquake and

other act of God.

In witness whereof the Parties affirm that the information provided is accurate and true and have

caused this MoA to be duly executed on the date and year above mentioned.

…………………. ……………….. ………………..

(Party of the first part) (Party of the second part) (Party of the third part)

Witness:

1.

2.





ANNEXURE V

FINANCIAL BID FORMAT

Dated:



5, Council House Street,


Sub: Proposal for setting up a Diamond Processing/ Gems & Jewellery Unit at Manikanchan II,

Special Economic Zone, Kolkata

Financial Quote (Rs. In per sq.ft. of Built up Area)

Manufacturing space – Total area of space

required ……………. Sq.ft. (subject to minimum 1

lac sq ft)

Rs.-------- per Sq.ft. built up area

(Rupees --------------------) per Sq.ft. built up area

Training Space (25000 sq.ft.) Rs.-------- per Sq.ft. built up area

(Rupees --------------------) per Sq.ft. built up area

Yours faithfully,

Date: (Signature of the Authorised Signatory)

Place:

(Name and designation of the Authorised Signatory)

Name and seal of the Applicant/Lead Firm





ANNEXURE VI

FORMAT OF BANK GUARANTEE AS BID SECURITY

B.G. No. Dated:

1. In consideration of you, West Bengal Industrial Development Corporation, having its office at No. 5,

Council House Street, Kolkata – 700 001, (hereinafter referred to as the “WBIDC”, which expression

shall unless it be repugnant to the subject or context thereof include its, successors and assigns)

having agreed to receive the Bid of _____________ [a Company registered under provision of the

Companies Act, 1956] and having its registered office at ____________ [and acting on behalf of its

Consortium] (hereinafter referred to as the “Applicant” which expression shall unless it be repugnant

to the subject or context thereof include its/ their executors administrators, successors and assigns),

for setting up Diamond Processing Unit and/ or manufacturing unit of platinum/ silver/ gold jewellery

which may inter alia includes any one or more unit of Diamond Studded Jewellery, Cast Jewellery,

Machine Jewellery, Handcrafted Jewellery, Lifestyle Items etc. at Manikanchan II, Special Economic

Zone, Kolkata (hereinafter referred to as “the Project”) pursuant to the RfP Document dated

__________ issued in respect of the Project and other related documents (hereinafter collectively

referred to as “RfP Documents”), we _______________ [Name of the Bank] having our registered

office at _____________ and one of its branches at ___________ (hereinafter referred to as the

“Bank”), at the request of the Applicant, do hereby in terms of Clause 2.1.6 of the RfP Document,

irrevocably, unconditionally and without reservation guarantee the due and faithful fulfilment and

compliance of the terms and conditions of the RfP Document by the said Applicant and

unconditionally and irrevocably undertake to pay forthwith to WBIDC an amount of Rs. 10,00,000/-(Rupees Ten Lakh only) as bid security (hereinafter referred to as the “Bid Security”) as our primary

obligation without any demur, reservation, recourse, contest or protest and without reference to the

Applicant if the Applicant shall fail to fulfil or comply with all or any of the terms and conditions

contained in the RfP Document and/ or its Proposal.

2. Any such written demand made by WBIDC stating that the Applicant is in default of the due and

faithful fulfilment and compliance with the terms and conditions contained in the RfP Documents

shall be final, conclusive and binding on the Bank.

3. We, the Bank, do hereby unconditionally undertake to pay the amounts due and payable under this

Guarantee without any demur, reservation, recourse, contest or protest and without any reference to

the Applicant or any other person and irrespective of whether the claim of WBIDC is disputed by the

Applicant or not merely on the first demand from WBIDC stating that the amount claimed is due to

WBIDC by reason of failure of the Applicant to fulfil and comply with the terms and conditions

contained in the RfP Document including failure of the said Applicant to keep its Bid open during the

Bid validity period as setforth in the said RfP Document for any reason whatsoever. Any such

demand made on the Bank shall be conclusive as regards amount due and payable by the Bank

under this Guarantee. However, our liability under this Guarantee shall be restricted to an amount

not exceeding Rs. 10,00,000/- (Rupees Ten Lakh only).





4. This Guarantee shall be irrevocable and remain in full force for a period of 210 (two hundred and

ten) days from the Proposal Due Date inclusive of a claim period of 30 (thirty) days or for such

extended period as may be mutually agreed between WBIDC and the Applicant, and agreed to by

the Bank, and shall continue to be enforceable till all amounts under this Guarantee have been paid.

5. We, the Bank, further agree that WBIDC shall be the sole judge to decide as to whether the

Applicant is in default of due and faithful fulfilment and compliance with the terms and conditions

contained in the RfP Document including, inter alia, the failure of the Applicant to keep its Bid open

during the Bid validity period set forth in the said RfP Document, and the decision of WBIDC that the

Applicant is in default as aforesaid shall be final and binding on us, notwithstanding any differences

between WBIDC and the Applicant or any dispute pending before any Court, Tribunal, Arbitrator or

any other Authority.

6. The Guarantee shall not be affected by any change in the constitution or winding up of the Bidder or

the Bank or any absorption, merger or amalgamation of the Applicant or the Bank with any other

person.

7. In order to give full effect to this Guarantee, WBIDC shall be entitled to treat the Bank as the

principal debtor. WBIDC shall have the fullest liberty without affecting in any way the liability of the

Bank under this Guarantee from time to time to vary any of the terms and conditions contained in

the said RfP Document or to extend time for submission of the Proposal or the Bid validity period or

the period for conveying acceptance of Letter of Intent by the Applicant or the period for fulfilment

and compliance with all or any of the terms and conditions contained in the said RfP Document by

the said Applicant or to postpone for any time and from time to time any of the powers exercisable

by it against the said Applicant and either to enforce or forbear from enforcing any of the terms and

conditions contained in the said RfP Document or the securities available to WBIDC, and the Bankshall not be released from its liability under these presents by any exercise by WBIDC of the liberty

with reference to the matters aforesaid or by reason of time being given to the said Applicant or any

other forbearance, act or omission on the part of WBIDC or any indulgence by WBIDC to the said

Applicant or by any change in the constitution of WBIDC or its absorption, merger or amalgamation

with any other person or any other matter or thing whatsoever which under the law relating to

sureties would but for this provision have the effect of releasing the Bank from its such liability.

8. Any notice by way of request, demand or otherwise hereunder shall be sufficiently given or made if

addressed to the Bank and sent by courier or by registered mail to the Bank at the address set forth

herein.

9. We undertake to make the payment on receipt of your notice of claim on us addressed to [name of

Bank along with branch address] and delivered at our above branch who shall be deemed to have

been duly authorised to receive the said notice of claim.

10. It shall not be necessary for WBIDC to proceed against the said Bidder before proceeding against

the Bank and the guarantee herein contained shall be enforceable against the Bank,

notwithstanding any other security which WBIDC may have obtained from the said Applicant or any

other person and which shall, at the time when proceedings are taken against the Bank hereunder,

be outstanding or unrealised.





11. We, the Bank, further undertake not to revoke this Guarantee during its currency except with the

previous express consent of WBIDC in writing.

12. The Bank declares that it has power to issue this Guarantee and discharge the obligations

contemplated herein, the undersigned is duly authorised and has full power to execute this

Guarantee for and on behalf of the Bank.

Signed and Delivered by ____________ Bank

By the hand of Mr./Ms ____________, its ____________ and authorised official.

(Signature of the Authorised Signatory)

(Official Seal)