IOCL and the Bidder concur that the Notice Inviting Tender (NIT) is an offer made on the condition that the bidder will sign the Integrity Pact and the Bid would be kept open in its unique frame without variety or alteration for a time of (express the quantity of days from the last date for the receipt of tenders expressed in the NIT) days and the making of the bid shall be viewed as an unconditional and absolute acceptance of this state of the NIT.

They affirm acknowledgment and consistence with the Integrity Pact in letter and soul. They further concur that the agreement comprising of the above states of NIT as the offer and the accommodation of Bid as the Acceptance should be independent and unmistakable from the agreement which will come into presence when offered is at last acknowledged by IOCL.

The thought for this different introductory contract going before the principle contract is that IOCL is definitely not pleasing to pitch the NIT to the Bidder and to view the offered as made with the exception of on the condition

that the offer should be kept open for (such a large number of ) days after the last date settled for the receipt of the offers and the Bidder wishes to make an offered on this condition and in the wake of going into this different starting contract with IOCL.

IOCL guarantees to consider the offered on this condition and the Bidder consents to keep the offer open for the required period. These equal guarantees frame the thought for this different beginning contract between the parties.

In the event that Bidder neglects to respect the above terms and conditions , IOCL shall have unfit , outright also, free ideal to encash/relinquish the offer security submitted for this benefit.

General Conditions of Contract - IOCL

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