Amendment status not verified — confirm the current text below against the official source.
(1) Upon finalization of the scope and structure of the infrastructure project under section 30, the Board shall forthwith cause to be published, 1[***] in at least two national level newspapers out of which, one will be a financial or business newspaper; and in one local newspaper, which is circulated in the region, province, city or municipality in which the project is to be constructed, a notice inviting all interested parties to participate in a competitive public bidding for the infrastructure projects so approved. (2) The Board shall be responsible in all respects for all aspects of pre- bidding and bidding processes, including,- (i) fixing pre-qualification criteria on the basis of the clearly identifiable parameters known to the “Concessionaires, Contractors and the General Public; (ii) arranging pre-bid conferences and bid evaluation conferences with the prospective Concessionaires or Contractors; (iii) issuing clear, comprehensive and fair instructions to bidders, which establish the rules of bidding and shall include all relevant information; (iv) preparing the bid or tender documents, which shall include the following, namely;- (a) instruction to bidders; (b) pre-qualification or qualification parameters, both technical (indicating experience, specific norms, design and performance standards) and financial; 1Omitted by Punjab Act No. 22 of 2016, Section 7 Public bidding for the project. (c) draft Concession Agreement or any other appropriate Agreement, clearly defining the basic relationship between the parties with their inter se rights and responsibilities; (d) bid form; and (e) any other documents, deemed necessary. (3) The instructions to the bidders relating to the bidding shall be clear, comprehensive and fair and shall, as far as necessary and practicable, include the following information, namely:- (i) general description and objectives of the infrastructure projects; (ii) basic contractual arrangement under which the implementation of the infrastructure project shall be undertaken; (iii) bid submission, procedures and requirements; (iv) bid and bid security validity period; (v) milestone bonding; (vi) method and criteria (including the minimum amount of equity) for the valuation of the technical and financial components of the Bids. 1[(vii) tariff policy, formula and factors to be used for the charge, recovery and appropriation of tolls or fees or rentals by the concessionaire;] (viii) requirements of concerned regulatory bodies, if any; 1Substituted by Punjab Act No. 22 of 2003, Section 13 (ix) monetary rules and regulations governing foreign exchange remittances, if relevant; (x) revenue sharing arrangements, if any; and (xi) expected commissioning date. (4) Minimum design and performance standards or specifications including appropriate environmental standards shall be clearly defined and nonconformity with any of these minimum requirements shall render the bids as non-responsive. (5) Financial parameters shall also be described, which amongst others, shall include,- (a) maximum period of project constrctuion; (b) fixed term for project operation and collection of tolls or fees or rentals or charges in respect of models of contracts specified in Schedule II; (c) The draft Concession Agreement shall clearly define the basic and legal relationship between the parties as well as the rights and responsibilities of the parties involved. Where applicable, the follwing matters, among others, shall be included:- (i) bonds, guarantees, insurance, damages; (ii) warranties, indemnities, limitation of liability; (iii) schedule and amount of milestone bonding; (iv) relevant price index to be used; (v) force majeure and its consequences; (vi) effect of changes in circumstances, which may be brought about by, among others, the enactment of new laws or regulations or the change in existing government policieswhich will materially affect the financial viability of the project; (vii) contract termination and combination; (viii) the governing laws, manner and procedure for the resolution of disputes including partnering, conciliation, arbitration; (ix) project monitoring mechanisms including provisions for independent quality control consultants and dispute review experts on a standing basis; and (x) taxes and duties.