RFP For EDF PDF

RFP for Selection of Financial Institution to house Electronics Development Fund (EDF)
RFP
For
Selection of Financial Institution/AMC

To House
Electronics Development Fund (EDF)

(Ref no: 8(9)/2011-IPHW)
(Doc. No. 8(9)/2011-IPHW/EDF/RFP ver. 1p0)
(Doc. Date 03/06/2015)
Department of Electronics and Information Technology

Ministry of Communication & Information Technology
Government of India
6, CGO Complex, Delhi
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Contents
1 Invitation for Proposal ................................................................................................................. 5
2 Overview ....................................................................................................................................... 6
3 Purpose .......................................................................................................................................... 8
4 Scope of Work .............................................................................................................................. 8
5 Timelines & Deliverables ..........................................................................................................11
5.1 Timelines..............................................................................................................................11
5.2 Deliverables .........................................................................................................................11
6 Fees..............................................................................................................................................11
6.1 Component I ........................................................................................................................11

6.2 Component II .......................................................................................................................12
6.3 Component III......................................................................................................................12
7 Evaluation & Award Criteria .....................................................................................................12
7.1 Technical Evaluation ...........................................................................................................12
7.1.1 Technical Evaluation marks scheme ..........................................................................13
7.2 Financial Evaluation ............................................................................................................15

7.3 Award of Work ....................................................................................................................16
7.4 Contract Duration ................................................................................................................16
8 Instructions to Bidders ...............................................................................................................16
8.1 Completeness of Response .................................................................................................16

8.2 Proposal Preparation Costs .................................................................................................16
8.3 Bidder enquiries & Clarifications.......................................................................................17
8.4 Pre-bid Meeting ...................................................................................................................17
8.5 Amendment to RFP .............................................................................................................18
8.6 DeitY’s Right to Modify Submission Deadline ................................................................18
8.7 DeitY’s Right to Terminate the Process ............................................................................18
8.8 DeitY’s Right to Accept/Reject all/ Any Proposals ..........................................................19
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8.9 Ernest Money Deposit (EMD) ............................................................................................19

8.10 Submission of Bids..............................................................................................................19
8.11 Venue and Deadline for Submission ..................................................................................20
8.12 Document Comprising the Bid ...........................................................................................21
8.13 Negotiations and Contract Finalization..............................................................................22
8.14 Notification of Award .........................................................................................................22
8.15 Signing of Contract .............................................................................................................22
8.16 Performance Bank Guarantee (PBG) .................................................................................22
8.17 Failure to Abide by Terms & Conditions of RFP/ Contract .............................................22
9 General Terms & Conditions .....................................................................................................23
9.1 Applicability ........................................................................................................................23

9.2 Standards of Performance ...................................................................................................23
9.3 Use of contract document and information ........................................................................23
9.4 Currency of Payments .........................................................................................................23
9.5 Change Orders .....................................................................................................................24
9.6 Contract Amendment ..........................................................................................................24
9.7 Delay in Performance..........................................................................................................24
9.8 Liquidated damages.............................................................................................................24
9.9 No Claim Certificate ...........................................................................................................25
9.10 Force Majeure ......................................................................................................................25
9.11 Governing Language ...........................................................................................................25
9.12 Applicable Law....................................................................................................................25
9.13 Firm Prices ...........................................................................................................................26
9.14 Deduction .............................................................................................................................26
9.15 Confidentiality .....................................................................................................................26
9.16 Documents prepared by the Bidder ....................................................................................28
9.17 Non-Blacklisting..................................................................................................................28
9.18 Cancellation of the contract ................................................................................................29
9.19 Conflict of Interest...............................................................................................................29
9.20 Organizational Conflict of Interest .....................................................................................29
9.21 Termination ..........................................................................................................................30
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9.22 Cessation of Services ..........................................................................................................31

9.23 Limitation of liability ..........................................................................................................31
9.24 Conciliation ..........................................................................................................................32
9.25 Arbitration ............................................................................................................................32
10 Annexure .....................................................................................................................................33
10.1 Cover Letter (Technical) .....................................................................................................33

10.2 Cover Letter (Financial) ......................................................................................................36
10.3 No Deviation Certificate .....................................................................................................37
10.4 Draft Contract ......................................................................................................................38
10.5 Draft NDA ...........................................................................................................................41
10.6 Performa for Bank Guarantee towards Performance Security (From Any commercial
bank) 44
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1 Invitation for Proposal

a. Department of Electronics and Information Technology (DeitY), Government of
India invites the bidders to submit their technical and financial offers for housing
Electronics Development Fund (EDF), in accordance with the conditions and manner
prescribed in this Request for Proposal (RFP) document.
b. Bidder agencies are advised to study this RFP document carefully before
submitting their proposals in response to the RFP Notice. Submission of a proposal in
response to this notice shall be deemed to have been done after careful study and
examination of this document with full understanding of its terms, conditions and
implications.
c. This RFP document is not transferable.
S. No. Information Details

1. RFP release date 03-06-2015
2. Last date for submission of written queries for 10-06-2015
clarifications
3. Date of pre-bid conference 16-06-2015(2:00 pm) in Conference
Hall No. 4009 of Electronics Niketan
4. Release of response to clarifications 19-06-2015
5. Bid validity period 180 days from the last date
(deadline) for submission of
proposals
6. Last date (deadline) for submission of bids 30-06-2015 (3:00 pm)
7. Opening of technical bids 01-07-2015 (3:00 pm)
8. Technical presentation by bidders 03-07-2015 (10:00 am – 1:00 pm)
9. Place, time and date of opening of financial Will be intimated later
proposals received in response to the RFP
notice
10. Earnest Money Deposit (EMD) in the form of INR 10,00,000/- (Indian Rupees Ten
a bank guarantee lakhs only)
11. Contact person for queries Mr. Prashant Kumar
Scientist ‘D’, DeitY
Tel No. +91-11-24301482
Email: [email protected]
12. Addressee and address at which proposal Shri Rajesh Suri
in response to RFP notice is to be submitted Dy. Director, DeitY
Room No. 4216, 4th Floor,
Electronics Niketan, 6, CGO
Complex
Lodhi Road, New Delhi – 110003
Tel: +91 11 24301922
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2 Overview
As part of the “Digital India” agenda of the Government, it is envisaged to develop the
Electronics System Design and Manufacturing (ESDM) sector to achieve net zero imports by
2020. Setting up of EDF is one of the important strategies which would enable creating a
electronics industry ecosystem in the country in this regard. Electronic Development Fund (EDF)
has been approved by the Cabinet on 10th Dec 2014 as a “Fund of Funds” to participate in
“Daughter Funds” which in turn will provide risk capital to companies developing new
technologies in the area of electronics, nano-electronics and Information Technology (IT). The
EDF Policy has been notified by the Government vide Govt. Notification No.8(9)/2011-IPHW
dated 06/01/2015 and is available at http://deity.gov.in/esdm/electronics-development-fund-edf-
policy .
The policy aims to leverage Government funding in the area of R&D and innovation in the areas
of electronics, IT and nanoelectronics and allied areas. It is expected that it will create a battery
of Daughter funds and Fund Managers thereby creating a vibrant and competitive venture capital
eco-system in the aforementioned areas.
While the EDF policy does not lay down size of the EDF, an earlier assessment made in a
Detailed Project Report (DPR) prepared for setting up of EDF had projected a requirement of Rs
10,000crore for EDF by 2020. A copy of the said DPR is available at
http://deity.gov.in/esdm/electronics-development-fund-edf-policy However, it has been felt that
instead of predeciding the size of EDF, the same may be determined based on market
requirements. DeitY would provide funds to EDF based on the requirements of Daughter Funds
and subject to its budgetary allocation.
Salient Features of EDF Policy
1. The Electronics Development Fund (EDF) shall be created in a financial institution like
SIDBI or an Asset Management Company (AMC) based in India.
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2. The EDF should make investments in Daughter Funds which would invest in ESDM,
nanoelectronics and IT sectors. This fund should act as a catalyst to attract private
venture fund investors to such Daughter Funds.
3. The EDF participation in a Daughter Fund would be on a non-exclusive basis.
4. The corpus of a Daughter Fund may be determined by market requirements and the
capacity of its Fund Manager to cater to the requirements of the Fund. The EDF would
typically take minority participation in the Daughter Fund. The entire responsibility of
raising the fund, investing and monitoring individual investments would be the
responsibility of the Fund Manager of the Daughter Fund.
5. Since government is only one of the participants, and a minority participant in Daughter
Funds, the market dynamics should determine the demand for the Daughter Funds.
6. In the ESDM sector, the EDF participation in Venture Capital Funds shall be available
across the value chain of ESDM sector and its ecosystem including fabless
semiconductor start-ups, research & development, the materials technologies required for
electronic devices, design and manufacturing and product design.
7. The EDF may, in certain cases, choose to cap its return from a Daughter Fund provided
the EDF is given seniority on payments out of the said Daughter Fund.
8. The EDF may also set up Daughter Funds with 100% funding if the products are of
strategic importance and for which either there is not adequate commercial interest to
participate or for which it is in national interest to have fully Government owned fund for
strategic reasons.
9. As per SEBI, AIF Regulations, 2012, the manager or sponsor for a category I and II AIF
shall have a continuing interest in the AIF of not less than 2.5% of the initial corpus or
Rs.5 crore, whichever is lower and such interest shall not be through the waiver of
management fees.
10. The financial instituion housing the EDF will set up a High Level EDF Management
Board including representatives of Department of Electronics and IT, Government of
India. The roles and responsibilities of the High Level EDF Management Board would,
interalia, include:
a. Appraise and make recommendations to the Government for participation in the
Daughter Funds
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b. Make recommendation to government for release of funds as per its commitment

to participate in the Daughter fund.
c. High level monitoring of the progress and performance of the Daughter funds.
3 Purpose
Department of Electronics and Information Technology (DeitY) Requests for Proposal (RFP)
from bidders to house Electronics Development Fund (EDF). The objective of the EDF policy is
to support Daughter Funds including Early Stage Angel Funds and Venture Funds in the area of
Electronics System Design and Manufacturing, Nano-electronics and IT. The supported
Daughter Funds will promote innovation, R&D, product development and within the country in
the specified fields of ESDM, nanoelectronics and IT. They will also support acquisition of
foreign companies and technologies for products imported in India in large volume. The core
focus of the Daughter Funds would be to develop domestic design capabilities. The Daughter
Funds supported will create a resource pool of IP within the country in the specified fields.
4 Scope of Work
The ‘Scope of Work’ for the selected financial institution/AMC shall be to select Daughter
Funds (Angel Funds and Venture Funds) in the area of Electronics System Design and
Manufacturing, nanoelectronics and IT.
More specifically, the selected financial institution/AMC will undertake the detailed scope of
services as under:
1. Floating Request for EoI and/or Request for Proposal (RFP)/Any other mechanism
for setting up of Daughter Funds.
2. Review of Bids received

The appraising agency will review and scrutinize all the documents and agreements. The review
of these documents would include the analysis of the terms of reference and intentions of the
project document(s) so as to ensure the objectives. The exercise would verify that provisions of
the project document(s) are consistent amongst themselves.
3. Setting up of EDF Management Board
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The financial institution housing the EDF will set up a High Level EDF Management Board
including representatives of Department of Electronics and IT, Government of India. The roles
and responsibilities of the High Level EDF Management Board would, interalia, include:
i. Appraise and make recommendations to the Government for participation in the
Daughter Funds.
ii. Make recommendation to the Government for release of funds to participate in the
Daughter Funds.
iii. High level monitoring of the progress and performance of the Daughter Funds.
4. Selection of Daughter Funds

i. Any Daughter Fund which is registered in India and abides with relevant rules
and regulations including the SEBI regulations on Venture Funds and is set up to achieve
the objectives mentioned above will be eligible for support from the EDF.
ii. The Daughter Funds supported under the EDF should be professionally managed.
iii. The Daughter Funds should have a track record and investment experience in the
relevant sector. The experience should be commensurate with the activities of the
proposed Daughter Fund.
iv. A Daughter Fund, to be eligible for support by the EDF, should be created within
India, as per Indian laws and regulations. The Fund Manager of the Daughter Fund shall
ensure that the laws of the land are fully complied with, in respect to setting up and
operation of the Fund. Offshore funds may ensure that necessary RBI / FIPB approval are
obtained before they participate in any Venture Capital Fund in India.
v. The EDF may also set up Daughter Funds with 100% funding if the products are
of strategic importance and for which either there is not adequate commercial interest to
participate or for which it is in national interest to have fully Government owned fund for
strategic reasons.
vi. The selection of Daughter Funds shall be done by a committee comprising of
Area Experts, Technical and Financial experts.
5. Facilitating disbursal of Funds

Typically, the Fund Managers would approach the Government for a commitment from the
Government for the intended Government participation in the Fund. On securing Government
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commitment, they would raise the balance from other investors. Upon securing commitments
from the entire targetted fund size (or part thereof in case of part closure), the Fund Manager
may enter into legally binding agreement with all contributors including Government. Following
this, the Fund Managers would scout for investment opportunities and seek approval from their
investment committee. This would be followed by actual drawdown of funds on pro-rata basis.
To facilitate drawdown at relatively short notices, the government may consider an appropriate
fast responsive mechanism to enable quick disbursal of funds.
Completion of other paper work related to terms & conditions and contract.
6. Monitoring and Control

Conducting/Coordinating Quarterly Review cum Monitoring Meetings. These include travel,
accommodation, logistics arrangements and honorariums of experts, as applicable.
7. Communicating performance of investments made through the Fund

The review reports to be submitted to DeitY should have an executive summary and progress of
the Daughter Funds. The executive summary should summarize the conclusions and
recommendations covering all the critical aspects of the investments. Also, the selected financial
institution/AMC has to prepare and submit the annual Utilization Certificates (UC)/Statements of
Expenditure (SEs) to DeitY.
8. Exit/Disbursal of Proceeds
Upon realizing the exits, the Fund Manager would distribute the proceeds.
The responsibilities of the selected FI/AMC would include:
 Obtaining/Preparing Completion Report, along with UCs and SEs from Daughter Funds
 Carrying out financial accounting and providing the necessary UCs/SEs for the funds
received from DeitY for programme implementation
9. All other work which is required

i. To ensure compliance of EDF Policy as approved by Cabinet.
ii. To make suggestions to Government for implementation of the EDF Policy.
iii. To suggest suitable mechanisms for recycling funds realized through exit into the EDF.
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iv. To advise Government regarding successful fulfilment of the objectives of the EDF
policy and other steps that are essential for making the EDF Policy successful. These may
include, but not limited to, changes in tax regulations, procedures for approvals, etc
5 Timelines & Deliverables
5.1 Timelines
The policy would be available for approval of new Daughter Funds upto 31.3.2017. However
funding support to Daughter funds approved upto 31.3.2017 will be provided till complete
drawdown. The involvement of the selected Financial Institution/AMC is required till the exit
from the last Daughter Fund.
It is also envisaged that the funds realized from the exit of the Daughter Fund shall be recycled
through the EDF. Necessary approvals will need to be taken for the purpose. The recycling of
funds in EDF would be done through subsequent series of EDF (ie. EDF1, EDF2, …. ). The life
of the fund will be 7 years and 2 years could be the extension period depending on the
conditions/need arising then.
5.2 Deliverables
Set up Daughter funds in the area of electronics, nano-electronics and Information Technology
(IT).
The desired Hurdle Rate for Government investments is 8 %. Applicable for calculation at the
time of exit from individual Daughter Funds.
6 Fees
6.1 Component I
Management Fees will be bid by the bidder. However, it shall range between 0.5 – 1.5% of the
committed capital (annually) till such time the scheme is open for selecting new Daughter Funds.
Thereafter, the management fee would be reduced to 50% of the decided amount.
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6.2 Component II
A fixed carried interest component (Based on Total number of daughter funds supported and
Total Corpus of such Daughter funds) shall also be paid over and above the Management fees.
No of daughter Funds Total Corpus (in crores) Carried Interest
<=20 <= Rs 2000 30%
>20 and <=50 > Rs 2000 and <= Rs 5000 35%
>50 > Rs 5000 40%
Note that both the conditions, No. of Daughter Funds and Total Corpus, must be satisfied in
order to be eligible for Carried Interest of that bracket else the base Carried Interest component
of 30% shall be paid.
6.3 Component III

Program Implementation fees of Rs. 25 Lakhs shall be paid to the selected Financial
Institution/AMCs which will be adjusted in the management fees.
Please note that the financial bids are invited for Component I only.
7 Evaluation & Award Criteria

The bidders shall be required to submit a technical and financial proposal which shall be
evaluated by DeitY.
7.1 Technical Evaluation
1. In this stage, the Technical Proposal will be evaluated on the basis of the
 Average Annual Turnover (of Financial Institution/AMC) of last 3 F.Y.
 The Total corpus that the FI/AMC can invest till 31.3.2017.
 Ability to Network with Global Funds in ESDM /IT and Nano electronics
sector. Preference will be given to funds exhibiting ability to promote ESDM
sector
 AUM, No. of funds managed in the past and Cumulative Performance of these
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funds.
 Leverage (By how many multiple times of the DeitY’s share, the FI/AMC can
promise to get from open market).
 Past experience in managing either fund of funds or in managing big funds in
Technology areas like ESDM, IT, Nano-electronics.
 Technical resources (Team)
2. Proposal Presentations: DeitY may invite each bidder to make a presentation. The
purpose of such presentations would be to allow the bidders to present the key
points in their proposals.
3. Each technical proposal will be assigned a technical score (ST). The maximum
technical score which a bidder can attain is 100 marks.
4. A minimum of 70 marks should be scored in the technical proposal for the bid to
be declared technically qualified. The Financial Bids of only those bidders who
have obtained a Technical Score of 70 or more shall be opened.
5. The technical evaluation shall be in terms of the following parameters and marking
scheme:
7.1.1 Technical Evaluation marks scheme
S.No. Parameter Max. Criteria for Technical Evaluation

Marks
1 Average Annual Turnover (of 10 >100 Rs Crore: 100%
Financial Institution/AMC) of <=100 & >50 Rs Crore: 80%
last 3 FYs. <=50 & >25 Rs Crore: 60%
<=25 & >10 Rs Crore: 40%
<=10 & >5 Rs Crore: 20%
<=5 & >0 Rs Crore: 10%
0 Rs Crore: 0%
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2 The Total corpus that the 10 >5000: 100%

FI/AMC can invest in Daughter <= 5000 and >2000: 75%
Funds till 31.3.2017. <=2000: 50%
<=500: 0%
(amount in Rs crore)
3 Ability to Network with Global 15 Inputs (to be provided by Financial
Funds in ESDM sector. Institutions/AMC) shall be evaluated
qualitatively.
4 AUM, No. of funds managed in 15 Cumulative score on a scale of 10
the past and Cumulative <10 and >=8: 100%
Performance of these funds. <8 and >=6: 75%
<6 and >=4: 50%
<4 and >=2: 25%
<2: 0%
5 Leverage (By how many multiple 15 4 times and higher: 100%
times of the DeitY’s share, the <4 & >=3: 80%
FI/AMC can promise to get from <3 & >=2: 50%
open market). <2 & >=1: 20%
<1 & >0: 10%
0:0%
6 Past experience in managing 20 10 Years and Above: 100%
either fund of funds or in Between 10 and 8 Years: 80%
managing big funds in Between 8 and 5 Years: 60%
Technology areas like IT, Between 5 and 3 Years: 40%
Electronics, Nan-electronics. Greater than 0 and Less than 2
Years: 20%
0 years of experience: 0%
(Lower limit is inclusive)
7. Technical resources (Team) 15 Inputs (to be provided by Financial
Institutions/AMC) shall be evaluated
qualitatively.
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Total 100
All the bidders which meet the minimum qualifying criteria of 70 % during technical evaluation
as prescribed above will be considered for opening of the financial bids. Bidders whose
proposals will not meet the technical evaluation criteria or were found non-responsive to RFP
will be notified as rejected and their financial proposals will be returned unopened after
completing the selection process.
The bidder shall have to provide Technical Evaluation Parameters as per the template given in
table above.
7.2 Financial Evaluation

1. In this stage, the financial evaluation of the proposal will be carried out of the bidders
who qualify in the technical evaluation. The Financial Proposals shall be complete,
unqualified and unconditional.
2. The Financial bids (to be submitted in sealed envelope in indelible ink) shall be ranked
and evaluated on the basis of the Management Fees (Component I of the Fees) quoted by
the bidders. The bidder shall have to quote as per the financial template given in table
below:
Financial bid template
Management Fees ( in % of the Committed

Capital) as mentioned in Section 6
In numerals
In words
3. The Contract Price shall be all inclusive.

4. The cost indicated in the Financial Proposal shall be deemed as final and reflecting the
total cost of services. Omissions, if any, in costing any item shall not entitle the agency to
be compensated and the liability to fulfil its obligations as per the Scope of Work within
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the total quoted price shall be that of the bidder.

5. Any conditionality included in the financial bid shall lead to summary disqualification of
the entire bid and forfeiture of the Earnest Money Deposit (EMD).
7.3 Award of Work

All the bidders selected in Technical evaluation phase (above 70%) shall qualify for financial
evaluation. The financial bids of only selected bidders shall be opened and shall be evaluated
based on 70:30 criteria where 70 % weightage will be assigned to technical parameters and 30%
will be to financial aspects. The bidder who scores the maximum marks shall be awarded the
contract to house EDF.
7.4 Contract Duration

The contract with the bidder will be on a non-exclusive basis till the exit of Government interest
from the last Daughter Fund.
8 Instructions to Bidders
8.1 Completeness of Response

1. Bidders are advised to study all instructions, forms, terms, requirements and other
information in the RFP documents carefully. Submission of bid will be deemed to have
been done after careful study and examination of the RFP document with full
understanding of its implications.
2. The response to this RFP should be full and complete in all respects. Failure to furnish all
information required by the RFP documents or submission of a proposal not substantially
responsive to the RFP documents in every respect will be at the Bidder's risk and may
result in rejection of its proposal.
8.2 Proposal Preparation Costs

1. The bidder is responsible for all costs incurred in connection with participation in this
process, including, but not limited to, costs incurred in conduct of informative and other
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diligence activities, participation in meetings/discussions/presentations, preparation of

proposal, in providing any additional information required by DeitY to facilitate the
evaluation process, and in negotiating a definitive contract or all such activities related to
the bid process. DeitY will in no case be responsible or liable for those costs, regardless
of the conduct or outcome of the bidding process.
2. This RFP does not commit DeitY to award a contract or to engage in negotiations.
Further, no reimbursable cost may be incurred in anticipation of award or for preparing
this bid.
3. All materials submitted by the bidder become the property of DeitY and may be returned
completely at its sole discretion.
8.3 Bidder enquiries & Clarifications

1. All enquiries / clarifications from the bidders, related to this RFP, must be directed in
writing exclusively to the contact person notified in this RFP document.
2. The preferred mode of delivering written questions to the aforementioned contact person
would be through fax or email. Telephone calls will not be accepted. In no event will the
DeitY be responsible for ensuring that bidders' inquiries have been received by DeitY.
The queries by the bidders will be provided in the following format:
S Sub RFP clause on which Clarification

Page Section Details
No. Section clarification is required Required
3. DeitY will endeavour to provide a full, complete, accurate, and timely response to all
questions. However, DeitY makes no representation or warranty as to the completeness
or accuracy of any; neither response nor does DeitY undertake to answer all the queries
that have been posed by the bidders. The responses to the queries from all bidders will be
distributed to all.
4. No request for clarification from any bidder will be entertained after the due date.
8.4 Pre-bid Meeting

DeitY will hold a pre-bid meeting with the prospective bidders on as per schedule.
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8.5 Amendment to RFP

1. DeitY reserves the right to (a) relax or waive any of the conditions stipulated in this RFP
document as deemed necessary in the best interest of the DeitY and the objective of the
project without assigning any reasons thereof and (b) include any other item in the Scope
of work at any time after consultation in the pre-proposal meeting or otherwise.
2. The amendment will be notified in writing and by email to all prospective bidders who
have been issued this RFP document and will be binding on them.
3. In order to afford prospective bidders reasonable time in which to take the amendment
into account in preparing their bids, DeitY may, at its discretion, extend the last date for
the receipt of bids.
8.6 DeitY’s Right to Modify Submission Deadline

DeitY may, in exceptional circumstances and at its discretion, can extend the deadline for
submission of proposals by issuing an corrigendum through website and in writing by intimating
all bidders who have been provided the proposal documents, in writing, in which case all rights
and obligations of the project and the bidders previously subject to the original deadline will
thereafter be subject to the deadline as extended.
8.7 DeitY’s Right to Terminate the Process

1. DeitY may terminate the RFP process at any time and without assigning any reason.
DeitY makes no commitments, explicit or implied that this process will result in a
business transaction with anyone.
2. This RFP does not constitute an offer by DeitY. The bidder's participation in this process
may result in DeitY selecting the bidder to engage in further discussions and negotiations
toward execution of a contract. The commencement of such negotiations does not,
however, signify a commitment by DeitY to execute a contract or to continue
negotiations. The DeitY may terminate negotiations at any time without assigning any
reason.
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8.8 DeitY’s Right to Accept/Reject all/ Any Proposals

DeitY reserves the right to accept or reject any proposal, and to annul the bidding process and
reject all Bids at any time prior to award of Contract, without thereby incurring any liability to
the affected Bidder or Bidders or any obligation to inform the affected bidder or bidders of the
grounds for DeitY’s action.
8.9 Ernest Money Deposit (EMD)

1. Bidders shall submit, along with their bids, EMD of INR 10,00,000/- (Indian Rupees Ten
lakh only) in the form of a Bank Guarantee only in favour of “Pay and Accounts Officer,
Department of Electronics and Information Technology, GoI”, payable at Delhi, from
any Commercial Bank valid for 6 months. EMD in any other form shall not be
entertained.
2. The EMD shall be denominated in Indian Rupees only. No interest will be payable to the
bidder on the amount of the EMD.
3. Unsuccessful bidder’s EMD will be discharged / returned as quickly as possible, but not
later than 30 days after the award of the contract to the successful bidder .
4. The EMD may be forfeited:
 If a bidder withdraws his / her bid or increases his / her quoted prices during the
period of bid validity or its extended period, if any;
OR
 In the case of a successful bidder, if the bidder fails to sign the contract or to
furnish Performance Bank Guarantee within specified time in accordance with
the format given in the RFP.
5. The EMD shall be submitted with the technical bid in a separately sealed envelope as
mentioned in this section. Bids submitted without adequate EMD will be liable for
rejection.
8.10 Submission of Bids

a. The bidders should submit their offers in two parts namely, “Technical bid” and
“Financial bid” and in the format given in this document.
 Technical Bid – Original – 1 hard Copy + 1 soft copy
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 Financial Bid – Original – 1 hard Copy
b. The bidder should submit soft copy of technical bid on a non-rewritable CD media in a
sealed envelope technical bid should be in a single file in PDF format
c. The CD media must be duly signed using a permanent pen/marker and should bear the
name of the bidder.
d. The hardcopies and softcopy of the technical proposal should be in a single sealed
envelope, clearly marked as “Technical Proposal – Selection of Financial
Institution/AMC to house Electronics Development Fund (EDF)”.
e. The hardcopy of the financial proposal should be in separate sealed envelope, clearly
marked as “Financial Proposal – Selection of Financial Institution/AMC to house
Electronics Development Fund (EDF)”.
f. All the envelopes including Technical & Financial Bid (s) shall be sealed in an outer
envelope marked "RFP for Selection of Financial Institution/AMC to house Electronics
Development Fund (EDF) – DO NOT OPEN BEFORE ……… hours on …………
(date). Both technical and financial bids have to be sealed properly in separate envelopes.
If any of the technical / financial bids is found open, bids will be liable to be rejected.
g. The outer envelope shall indicate the name and address of the bidder to enable the
proposal to be returned unopened in case it is declared “late”. Both inner and outer
envelopes shall be addressed to DeitY at the address specified in this section.
h. The proposal shall contain no inter-lineation or overwriting, except as necessary to

correct errors made by the bidder itself.
i. Any such corrections must be initiated by the person (or persons) who sign(s) the
proposals.
j. All pages of the proposal must be sequentially numbered and shall be initialled by the
authorised representative of the bidder.
8.11 Venue and Deadline for Submission

a. Proposals must be received at the address specified below , on or before the scheduled
time on last date of submission:
Shri Rajesh Suri
Dy. Director, DeitY
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Room No. 4216, 4th Floor,

Electronics Niketan, 6, CGO Complex
Lodhi Road, New Delhi – 110003
Tel: +91 11 24301922 / 24301917 / 24301919
b. Any proposal received by DeitY after the above deadline shall be rejected and returned
unopened to the Bidder.
c. The bids submitted by telex / telegram / fax / e-mail etc. shall not be considered and no
correspondence will be entertained on this matter.
d. DeitY shall not be responsible for any postal delay or non-receipt / non-delivery of the
documents. No further correspondence on the subject will be entertained.
e. Any default by the bidder in respect of tender terms and conditions will lead to rejection
of the bid.
DeitY reserves the right to modify and amend any of the above-stipulated condition / criterion
depending upon project priorities vis-à-vis urgent commitments.
8.12 Document Comprising the Bid

1. Proposal Covering letter
2. A power of attorney by the CEO or competent authority authorizing the Bidder to sign /
execute the proposal as a binding document and also execute all relevant agreements
forming part of RFP.
3. Earnest Money Deposit (EMD) amount in the form of a Bank Guarantee
4. Technical proposal
a. Inputs as per Section7.
b. Understanding of scope
c. Approach & Methodology
d. Work plan
e. Staffing schedule
f. Team Composition
g. Forms & annexure
h. Others
i. Presentation
5. Financial proposal Cover letter

6. Financial proposal
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8.13 Negotiations and Contract Finalization

a. DeitY shall notify the successful bidder in writing by hand delivery, speed post or by fax,
that its proposal has been accepted.
b. Until a formal contract is signed, the notification of award along with the complete RFP
document including all annexure and appendices will constitute a binding contract
between successful bidder and DeitY.
8.14 Notification of Award

a. Prior to the expiration of the period of proposal validity, the successful bidder will be
notified by DeitY in writing or by fax or email that its proposal has been accepted.
b. Until a formal contract is signed, the notification of award along with the RFP document
will constitute a binding Contract between Successful bidder and DeitY. Upon the
Successful bidder/implementation agency's executing the contract with DeitY, DeitY will
promptly notify each unsuccessful bidder.
8.15 Signing of Contract

From the time DeitY notifies the successful bidder that its bid has been accepted, a formal
contract shall be signed between the selected bidder and DeitY incorporating all agreements as
provided in Annexure.
8.16 Performance Bank Guarantee (PBG)

Within 15 days of the selected firms being intimated about their selection they are to submit
a Performance Bank Guarantee of Rs 50 lakhs in the form of unconditional, unequivocal
and irrevocable Bank Guarantee (BG) from any Commercial Indian Bank and valid for 5 years
and any applicable extension periods as may be mutually accepted. The EMD submitted as
security will be discharged after the receipt of the Performance Bank Guarantee from the
selected bidder.
8.17 Failure to Abide by Terms & Conditions of RFP/ Contract

Failure of the Successful bidder to agree with the Terms & Conditions of the RFP / Contract
shall constitute sufficient grounds for the annulment of the award of contract, in which event the
contract may be awarded to the next most responsive bidder.
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9 General Terms & Conditions
9.1 Applicability
These general conditions shall apply to the extent that they are not superseded by provisions in
any other part of the contract.
This is not an exclusive arrangement and the Government reserves the right of similar
arrangements with other Financial Institutions/AMCs for funds of similar Nature.
9.2 Standards of Performance

The selected Financial Institution/AMC shall perform the services and carry out its obligations
under the contract with due diligence, efficiency and economy, in accordance with generally
accepted techniques and practices used in the industry and with professional consulting standards
recognized by international professional bodies and shall observe sound management practices.
The selected Financial Institution/AMC shall always act, in respect of any matter relating to the
contract, as faithful advisors to DeitY and shall, at all times, support and safeguard DeitY’s
legitimate interests in any dealings with third parties.
9.3 Use of contract document and information

The selected Financial Institution/AMC shall not, without DeitY’s prior written consent, disclose
the contract or any provision thereof, or any information furnished by or on behalf of DeitY in
connection therewith, to any person other than a person employed by the selected Financial
Institution/AMC in the performance of the contract. Disclosure to any such employed person
shall be made in confidence and shall extend only as far as may be necessary for purposes of
such performance.
The selected Financial Institution/AMC shall not without DeitY’s prior written consent, make
use of any document or information forming a part of this tender and/or otherwise acquired
regarding DeitY including its business except for purpose of performing the contract. Any
document forming a part of this tender, other than the contract shall solely remain the property of
DeitY
9.4 Currency of Payments

Payment shall be made in Indian Rupees (INR) only.
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9.5 Change Orders

DeitY may at any time, by a written order given to the selected Financial Institution/AMC make
changes within the general scope of the contract in the services to be provided by the selected
Financial Institution/AMC. If any such change causes an increase in the cost of, or the time
required for the selected Financial Institution’s/AMC’s performance of any part of the work
under the contract, whether changed or not changed by the order, an equitable adjustment shall
be made in the contract price or delivery schedule, or both and the contract shall accordingly be
amended. Any claims by the selected Financial Institution/AMC for adjustment under this clause
must be asserted within thirty days from the date of receipt of change order by the selected
Financial Institution/AMC.
9.6 Contract Amendment

No variation in or modification of the terms of the contract shall be made except by written
amendment signed by both parties to the Contract.
9.7 Delay in Performance

Any unexcused delay by the selected Financial Institution/AMC in the performance of his
implementation / service / other obligations as per conditions of the contract shall render the
selected bidder liable to any or all of the following sanctions;
a. Imposition of liquidated damages, and / or

b. Termination of the contract for default
If at any time during performance of the contract, the selected bidder should encounter
conditions impeding timely implementation of the services, performance of services, the selected
bidder shall promptly notify DeitY in writing of the fact of the delay, the likely duration and its
cause(s), before the scheduled delivery date. DeitY shall evaluate the situation after receipt of the
notice and may at their discretion extend the time schedule for delivery
9.8 Liquidated damages

Forfeiting the Performance Bank Guarantee.
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9.9 No Claim Certificate

The selected Financial Institution/AMC shall not be entitled to make any claim, whatsoever
against DeitY under or by virtue of or arising out of the contract, nor shall DeitY entertain or
consider any such claim, if made by the selected Financial Institution/AMC after it shall have
signed a “No claim” certificate in favour of DeitY in such forms as shall be required by DeitY
after the works are finally accepted.
9.10 Force Majeure

Notwithstanding the provisions of Clause on Termination and Delay in selected Financial
Institution’s/AMC’s Performance, the selected Financial Institution/AMC shall not be liable for
forfeiture of his performance security, liquidated damages or termination for default, if and to the
extent that, his delay in performance or other failure to perform his obligations under the contract
is caused due to circumstances beyond his reasonable control and is the result of an event of
Force Majeure.
For purposes of this Clause, “Force Majeure” means an event beyond the control of the selected
Financial Institution/AMC and not involving the selected Financial Institution/AMC and not
involving the selected Financial Institution’s/AMC’s fault or negligence and not foreseeable.
Such events may be inclusive, but are not limited to, wars or revolutions, fires, floods,
epidemics, quarantine restrictions and freight embargoes. If a Force Majeure situation arises, the
selected Financial Institution/AMC shall as soon as practicably possible notify DeitY in writing
of such conditions and the cause thereof. Unless otherwise directed by DeitY, the selected
Financial Institution/AMC shall seek all reasonable alternative means for performance not
prevented by the Force Majeure event.
9.11 Governing Language

The Governing Language of the contract is English.
9.12 Applicable Law

The Contract shall be interpreted in accordance with the Indian Laws for the time being in force
and will be subject to the exclusive jurisdiction of a competent court of jurisdiction within the
city of Delhi.
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9.13 Firm Prices

The prices quoted for the providing services shall be firm throughout the period of contract and
shall not be subject to any change except on account of increase or decrease of applicable taxes
which shall be passed on to DeitY.
9.14 Deduction
Payments, as envisaged in price schedule, shall be subject to deductions (such as TDS) of any
amount, for which the selected Financial Institution/AMC is liable under the agreement against
this tender.
9.15 Confidentiality
The selected Financial Institution/AMC must understand and agree that all materials and
information marked and identified by DeitY as ‘Confidential’ are valuable assets of DeitY and
are to be considered DeitY's proprietary information and property. The selected Financial
Institution/AMC will treat all confidential materials and information provided by DeitY with the
highest degree of care necessary to ensure that unauthorized disclosure does not occur. The
selected Financial Institution/AMC will not use or disclose any materials or information
provided by DeitY without DeitY's prior written approval.
The selected Financial Institution/AMC may disclose confidential information in the following
circumstances:
a. With the prior written consent of DeitY;
b. To a member of selected Financial Institution’s/AMC’s team (“Authorized

person”) if the authorized person needs the confidential information for
performance of obligations under the contract; and the authorized person is aware
of the confidentiality of such information; and
c. To government or statutory body or auditors who may not be statutory body for
audit or any other purpose as directed by DeitY
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In the event the selected Financial Institution/AMC is required by judicial or administrative

process, to disclose any information or material which is deemed to be confidential under the
Contract and the resultant Non-Disclosure Agreement, the selected Financial Institution/AMC
shall promptly notify DeitY, and if DeitY deems fit co-operate with DeitY to challenge such
process before making disclosure.
The selected Financial Institution/AMC shall be liable to fully recompense DeitY for any loss of
revenue arising from breach of confidentiality. DeitY reserves the right to adopt legal
proceedings, civil or criminal, against the selected Financial Institution/AMC in relation to a
dispute arising out of breach of obligation by selected Financial Institution/AMC under this
Clause.
The requirements of use and confidentiality set forth herein shall survive the expiration,
termination or cancellation of this tender.
Nothing contained in the contract shall limit the selected Financial Institution/AMC 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 the contract ensuring that
there is no conflict of interest.
The selected Financial Institution/AMC shall strictly abide by its Confidentiality obligations, and
shall sign a separate Non Disclosure Agreement (NDA) as a condition precedent to signing the
resultant Contract with DeitY in the format given for such NDA.
The obligations of the selected Financial Institution/AMC with regard to Confidentiality under
this engagement shall cease to the extent that the recipient can prove that the disclosed
Confidential Information was –
a. Rightfully communicated to the recipient free of any obligation of confidence

subsequent to the time it was communicated to the recipient by DeitY;
b. As of the time of its disclosure, lawfully part of the public domain;
c. Subsequently learned from a third party; or it was developed by the recipient

independently of and without reference to any information communicated to the
recipient by DeitY;
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d. Communicated in response to a valid order by a Court of competent jurisdiction

or other governmental body, but only to the extent of and for the purposes of such
order; provided however, that the recipient shall first notify DeitY in writing and
permit DeitY to seek an appropriate protective order;
e. Previously known by the recipient without any obligation to hold such

information in confidence; and/or
f. Approved for release by written authorization of the disclosure, but only to the
extent of such authorization.
9.16 Documents prepared by the Bidder

All documents, specifications, reports and other documents prepared by the selected Financial
Institution/AMC in the execution of the Contract shall become and remain the property of DeitY
and before termination or expiration of the Contract the selected Financial Institution/AMC shall
deliver all such documents, prepared under the contract along with a detailed inventory thereof,
to DeitY.
9.17 Non-Blacklisting
The bidder has not been blacklisted by any Central / State Government, Ministry / Department or
any other Government organization; or under a declaration of ineligibility for corrupt or
fraudulent practices during the last 5 (five) years as on the date of submission of the Bidders
response to this RFP; involved in any major litigation that may have an impact of affecting or
compromising the delivery of services as required under this assignment. If at any stage of
bidding process or during the currency of the contract, any suppression/ falsification of such
information is brought to the knowledge of DeitY, DeitY shall have the right to reject the bid or
terminate the contract, as the case may be, without any compensation to the Bidder.
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9.18 Cancellation of the contract

DeitY reserves the right to terminate the resultant Contract for convenience at any time during its
term by giving the selected bidder 30 (thirty) days notice of the same. DeitY’s only obligation
towards the selected bidder in the event of termination for convenience shall be to pay the
selected bidder for services performed prior to the effective date of termination to the satisfaction
of DeitY.
9.19 Conflict of Interest

The bidder represents that it, its consortium members or associates are not a party to any
agreement which represents a conflict of interest with its role with DeitY or the terms of the
resultant Agreement which materially and adversely affects its ability to perform the defined
services for DeitY. Further, the Financial Institution/AMC agrees it will not enter into any
agreement or business relationship during the term of this Agreement that could place him in a
conflict of interest position.
Bidders have an obligation to disclose any situation of actual or potential conflict that impacts
their capacity to serve the best interest of their Employer, or that may reasonably be perceived as
having this effect. Any such disclosure shall be made as per the Standard forms of technical
proposal provided herewith. If the bidder fails to disclose said situations and if the DeitY comes
to know about any such situation at any time, it may lead to the disqualification of the bidder
during bidding process or the termination of its Contract during execution of assignment.
The selected Financial Institution/AMC shall not support its own Daughter Fund under the EDF
policy.
9.20 Organizational Conflict of Interest

The bidder is required to make full disclosure and it’s extent of the conflict of interest.
The selected bidder agrees that it will use all reasonable diligence in protecting information
received by it during the bid process and thereafter. The selected bidder further agrees it will not
wilfully disclose proprietary data to unauthorized parties without the prior permission of DeitY,
and that proprietary data shall not be duplicated, used or disclosed, in whole or part, for any
Page 29 of 46
purpose other than to accomplish the contracted effort. This restriction does not limit the
successful applicant right to use, duplicate or disclose such information if such information was
lawfully obtained by the successful applicant from other sources.
The selected bidder agrees to protect the proprietary data and rights of other organizations
disclosed to him during performance of the resultant contract with the same caution that a
reasonably prudent person would use to safeguard highly valuable property.
The bidder agrees that if after award it discovers a potential organizational conflict of interest, a
prompt and full disclosure shall be made in writing to DeitY. This disclosure shall include a
description of the actions the applicant has taken or proposes to take, to avoid or mitigate such
conflicts.
DeitY may in its sole discretion waive application of this clause when it is determined to be in
the best interest of the Government to do so.
DeitY shall not be liable to reimburse any expenses incurred in preparation of this Bid by an
applicant in case a bid is rejected for breach of this provision. DeitY’s right to reject a bid under
this provision shall not bar it from seeking any other equitable remedy available to it under
applicable law.
9.21 Termination
The Authority may, by not less than 30 (thirty) days’ written notice of termination to the selected
Financial Institution/AMC, such notice to be given after the occurrence of any of the events
specified in this clause, terminate this Agreement if:
a. the selected Financial Institution/AMC fails to remedy any breach hereof or any failure in
the performance of its obligations hereunder, as specified in a notice of suspension,
within 30 days of receipt of such notice of suspension or within such further period as the
Authority may have subsequently granted in writing;
b. the selected Financial Institution/AMC becomes insolvent or bankrupt or enters into any
agreement with its creditors for relief of debt or take advantage of any law for the benefit
of debtors or goes into liquidation or receivership whether compulsory or voluntary;
c. the selected Financial Institution/AMC fails to comply with any final decision reached as
a result of arbitration proceedings;
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d. the selected Financial Institution/AMC submits to the Authority a statement which has a
material effect on the rights, obligations or interests of the Authority and which the
selected Financial Institution/AMC knows to be false;
e. any document, information, data or statement submitted by the selected Financial
Institution/AMC in its Proposals, based on which the selected Financial Institution/AMC
was considered eligible or successful, is found to be false, incorrect or misleading;
f. as the result of Force Majeure, the selected Financial Institution/AMC is unable to
perform a material portion of the Services for a period of not 90 days; or
g. the Authority, in its sole discretion and for any reason whatsoever, decides to terminate
this Agreement.
9.22 Cessation of Services

Upon termination of this Agreement by notice of, the selected Financial Institution/AMC shall,
immediately upon dispatch or receipt of such notice, take all necessary steps to bring the services
to a close in a prompt and orderly manner.
9.23 Limitation of liability

The selected Financial Institution’s/AMC’s liability under this Agreement shall be determined by
the Applicable Laws and the provisions hereof
The selected Financial Institution/AMC shall, subject to the limitation specified in the
subsequent clause be liable to DeitY for any direct loss or damage accrued or likely to accrue
due to deficiency in Services rendered by it.
The Parties hereto agree that in case of negligence or wilful misconduct on the part of the
selected Financial Institution/AMC or on the part of any person or firm acting on behalf of the
selected Financial Institution/AMC in carrying out the Services, the selected Financial
Institution/AMC, with respect to damage caused to the DeitY’s property, shall not be liable to
the DeitY:
I. for any indirect or consequential loss or damage; and

II. for any direct loss or damage that exceeds the contract value
The limitation of liability specified in this provision clause shall not affect the selected Financial
Institution’s/AMC’s liability, if any, for damage to Third Parties caused by the sole action of the
Page 31 of 46
selected Financial Institution/AMC to the extent of the selected Financial Institution’s/AMC’s or

any person or firm acting on behalf of the selected Financial Institution/AMC in carrying out the
Services subject, however, to a limit equal to 3 (three) times the Agreement Value.
9.24 Conciliation
In the event of any Dispute between the Parties with regard this agreement, either Party may call
upon [Secretary, DeitY] and the Managing Partner/ Chairman of the Board of Directors of the
bidder for amicable settlement, and upon such reference, the said persons or their representatives
shall meet not later than 15 (fifteen) days from the date of reference to discuss and attempt to
amicably resolve the Dispute. If the dispute is not amicably settled within 45 (forty fives) days
from the reference, the recourse would be taken to arbitration.
9.25 Arbitration
I. Any Dispute which is not resolved amicably by conciliation, as provided in Clause 9.24
shall be finally decided by reference to arbitration by an Arbitral Tribunal appointed in
accordance with para as given below:
II. Such arbitration shall be held in accordance with the rules as may be mutually agreed by
the Parties, and shall be subject to the provisions of the Arbitration and Conciliation Act,
1996. The venue of such arbitration shall be New Delhi and the language of arbitration
proceedings shall be English.
III. There shall be an Arbitral Tribunal of three arbitrators, of whom each Party shall select
one, and the third arbitrator shall be appointed by the two arbitrators so selected, and in
the event of disagreement between the two arbitrators, the appointment shall be made in
accordance with the Arbitration and Conciliation Act,1996.
IV. The arbitrators shall make a reasoned award (the “Award”). Any Award made in any
arbitration held pursuant to this Clause shall be final and binding on the Parties as from
the date it is made, and the bidder and the DeitY agree and undertake to carry out/
implement such Award without delay.
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10 Annexure
10.1 Cover Letter (Technical)

Date
To,
Subject: Selection of Financial Institution/AMC to house Electronics Development

Fund(EDF)
Reference:
Dear Sir,
With reference to your RFP Document dated ………….., I/we, having examined all
relevant documents and understood their contents, hereby submit our Proposal for
selection of Financial Institution/AMC to house Electronics Development Fund(EDF).
The proposal is unconditional and unqualified.
1. All information provided in the Proposal and in the Appendices is true and correct and all
documents accompanying such Proposal are true copies of their respective originals.
2. This statement is made for the express purpose of appointment as the Financial
Institution/AMC for the aforesaid Project.
3. I/We shall make available to the Authority any additional information it may deem
necessary or require for supplementing or authenticating the Proposal.
4. I/We acknowledge the right of the Authority to reject our application without assigning
any reason or otherwise and hereby waive our right to challenge the same on any account
whatsoever.
5. I/We certify that in the last three years, we or any of our Associates have neither failed to
perform on any contract, as evidenced by imposition of a penalty by an arbitral or judicial
authority or a judicial pronouncement or arbitration award against the Applicant, nor
been expelled from any project or contract by any public authority nor have had any
contract terminated by any public authority for breach on our part.
6. I/We declare that:

a. I/We have examined and have no reservations to the RFP Documents, including
any Addendum issued by the Authority;
b. I/We do not have any conflict of interest in accordance with Clause on Conflict of
Interest of the RFP Document;
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7. I/We certify that in regard to matters other than security and integrity of the country, we
or any of our Associates have not been convicted by a Court of Law or indicted or
adverse orders passed by a regulatory authority which would cast a doubt on our ability
to undertake the Project or which relates to a grave offence that outrages the moral sense
of the community.
8. I/We further certify that in regard to matters relating to security and integrity of the
country, we have not been charge-sheeted by any agency of the Government or convicted
by a Court of Law for any offence committed by us or by any of our Associates.
9. I/We further certify that no investigation by a regulatory authority is pending either
against us or against our Associates or against our CEO or any of our
Directors/Managers/ employees which are directly/indirectly employed as manpower for
EDF policy.
10. I/We hereby irrevocably waive any right or remedy which we may have at any stage at
law or howsoever otherwise arising to challenge or question any decision taken by the
Authority [and/ or the Government of India] in connection with the selection of Financial
Institution or in connection with the Selection Process itself in respect of the above
mentioned Project.
11. The Bid Security of INR ………………/- (Indian Rupees …………………………. only)
in the form of a Demand Draft is attached, in accordance with the RFP document.
12. I/We agree and understand that the proposal is subject to the provisions of the RFP
document. In no case, shall I/we have any claim or right of whatsoever nature if the
Project is not awarded to me/us or our proposal is not opened or rejected.
13. I/We agree to keep this offer valid for 180 days from the bid submission date specified in
the RFP.
14. A Power of Attorney in favour of the authorised signatory to sign and submit this
Proposal and documents is attached herewith.
15. In the event of my/our firm being selected as the successful bidder, I/we agree to enter
into an Agreement in accordance with the form in the RFP. We agree not to seek any
changes in the aforesaid form and agree to abide by the same.
16. The Financial Proposal is being submitted in a separate cover. This Technical Proposal
read with the Financial Proposal shall constitute the Application which shall be binding
on us.
17. I/We agree and undertake to abide by all the terms and conditions of the RFP Document.
In witness thereof, I/we submit this Proposal under and in accordance with the terms
of the RFP Document.
Yours faithfully,
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Name:
Designation:
(Company Seal)
Page 35 of 46
10.2 Cover Letter (Financial)

(On Applicant’s letter head)
Date
To,
Dear Sir,
Subject: Selection of Financial Institution/AMC to house Electronics Development

Fund (EDF).
I/We, _____________ (Applicant’s name) herewith enclose the Financial Proposal for
selection of my/our firm for above.
I/We agree that this offer shall remain valid for a period of 180 days from the Proposal
Due Date or such further period as may be mutually agreed upon.
Yours faithfully,
Name:
Designation:
(Company Seal)
Note: The Financial Proposal is to be submitted strictly as per forms given in the RFP.
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10.3 No Deviation Certificate

(To be submitted in the Bidder's letter head)
To,
Subject : No Deviation Certificate

Reference :
Dear Sir,
With reference to above, this is to confirm that as per tender conditions, we have
understood the requirements before submission of our offer. We also confirm that we
have not changed / modified the tender documents as appeared in the website/ issued by
you and in case of such observance at any stage, it shall be treated as null and void.
We hereby confirm that we have not taken any deviation from tender Clauses together
with other references as enumerated in the above referred Tender. We hereby confirm our
unqualified acceptance to all terms & conditions, unqualified compliance to all the terms
and conditions in the above referred tender.
Yours Sincerely
Name:
Designation:
(Company Seal)
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10.4 Draft Contract
The Agreement is made on this _____day of month ________, 2015.
BETWEEN
xxxxxxx, having its registered office at xxxxxxx (hereinafter referred to as the “selected
Financial Institution/AMC” which term shall unless repugnant to the context include
representatives and assigns of the selected Financial Institution/AMC).
AND
The President of India, acting through the (Insert Designation), Department of Electronics
and Information Technology, having its office at 6, Electronics Niketan, C.G.O. Complex
(hereinafter referred to as the “Client”)
The selected Financial Institution/AMC may be called as Party where the context so requires.
NOW THEREFORE, in consideration of mutual premises, representations, covenants and other

good and valuable consideration, the receipt of which is hereby acknowledged, the Party agree
with the following terms and conditions and to be bound thereby:
1. Scope of Work
The selected Financial Institution/AMC agrees to provide services to house Electronics
Development Fund (EDF).
2. Priority of Documents
The documents forming the Agreement are to be taken as mutually explanatory of one
another. In the event of conflict between the documents constituting the Agreement, they
shall have priority in the following order:
a) the Agreement;
b) the Request for Proposal document
c) the Financial Institutions’s/AMC’s “Technical Proposal” and “Financial Proposal”
submitted in response to the RFP
3. Payment
The total fees payable to the Financial Institution/AMC under the Agreement is
_____________ % of the committed capital inclusive of applicable taxes. Along with
this, Program Implementation Fees (which will be adjusted in the management fees)
amounting to Rs. 25 Lakhs is also payable to the selected Financial Institution/AMC.
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4. Indemnity
The selected Financial Institution/AMC agrees to indemnify and hold harmless DeitY,
Officers, employees and agents(each a “Indemnified Party”) promptly upon demand at
any time and from time to time, from and against any and all losses , claims, damages,
liabilities, costs (including reasonable attorneys fees and disbursements) and expenses
(collectively, “Losses”) to which the Indemnified Party may become subject, in so far as
such losses directly arise out of, in any way relate to, or result from (i) any mis-statement
or any breach of any representation or warranty made by the selected Financial
Institution/AMC or (ii) the failure by the selected Financial Institution/AMC to fulfill any
agreement, covenant or condition contained in the Agreement, including without
limitation the breach of any terms and conditions of the Agreement by any employee or
agent of the selected Financial Institution/AMC or (iii) any claim or proceeding by any
third party against DeitY arising out of any act, deed or omission by the selected
Financial Institution/AMC. For the avoidance of doubt, indemnification of Losses
pursuant to this section shall be made in an amount or amounts sufficient to restore each
of the Indemnified Party to the financial position it would have been in had the losses not
occurred.
Any payment made under the Agreement to an indemnity or claim for breach of any
provision of the Agreement shall be net of applicable taxes.
5. Severability
If any section or paragraph, or part thereof, of the Agreement or any agreement or
document appended hereto or made a part hereof is rendered invalid, ruled illegal by any
court of competent jurisdiction, or unenforceable under present or future laws effective
during the term of the Agreement, then it is the intention of the Parties that the remainder
of the Agreement, or any agreement or document appended hereto or made a part hereof,
shall not be affected thereby unless the deletion of such provision shall cause the
Agreement to become materially adverse to any Party in which case the Parties shall
negotiate in good faith such changes to the Agreement, or enter into suitable amendatory
or supplementary agreements, as will best preserve for the Parties the benefits and
obligations under such provision.
6. Adherence
IN WITNESS WHEREOF, the Parties have signed the Agreement by their duly
authorized representatives in Two (2) original copies.
DeitY xxxxx
Authorized representative: Authorized representative:
Name: Name:
Title: Title:
(Signature): (Signature):
Date of signing: Date of signing
Page 39 of 46
Witness: Witness:
Name: Name:
Signature: Signature:
Date of signing: Date of signing:
Page 40 of 46
10.5 Draft NDA
This Non Disclosure Agreement (“Agreement”) is made effective from this day of
[month year] between [selected Financial Institution’s/AMC’s name] having office at
[address of selected Financial Institution/AMC]and DeitY, having office at
Electronics Niketan, 6 CGO Complex, Lodhi Road, New Delhi - 110003 (“Client”).
(Client and [selected Financial Institution/AMC] shall be individually referred to

hereinafter as a “Party” and collectively as the “Parties”)
WHEREAS, the Client has appointed [selected Financial Institution/AMC] for

rendering services at < DeitY, Electronics Niketan, 6 CGO Complex, Lodhi Road,
NewDelhi – 110003> during the period commencing from <ddmmyy> to <
ddmmyy>
WHEREAS, the parties hereto are willing to execute this Agreement in order to
protect certain information to be disclosed to each other for the aforesaid purposes.
NOW, THEREFORE, in consideration of the recitals set forth above and the
covenants set forth herein, the Parties agree that:
1. It is hereby agreed that the discretion applied at the time of disclosure would
provide the best protection of Confidential Information of either Party. Accordingly, a
Disclosing Party shall ensure that only those Confidential Information which serve
the engagement objectives shall be disclosed as per an agreed procedure to the
identified individuals at the recipient’s end.
2. Recipient agrees to protect Confidential Information received from the Disclosing

Party with at least the same degree of care as it normally exercises to protect its own
proprietary information of a similar nature. Recipient agrees to promptly inform the
Disclosing Party of any unauthorised disclosure of the Disclosing Party’s
Confidential Information.
3. In the case of Confidential Information that is disclosed only orally, Disclosing

Party shall, within seven days after such disclosure, deliver to the Receiving Party a
brief written description of such Confidential Information; identifying the place and
date of such oral disclosure and the names of the representatives of the Receiving
Party to whom such disclosure was made. It is expected that such information will
bear a legend or label of “Confidential” or other similar designation manifesting
intent that the information is confidential (“Confidential Information”).
4. The restrictions set forth in this Agreement on the use or disclosure of Confidential
Information shall not apply to any information which:
a. is independently developed by the Recipient ; or

b. is rightfully received free of restriction from another source having the right to so
furnish such information; or
c. has become generally available to the public; or
Page 41 of 46
d. at the time of disclosure to the Recipient was rightfully known to such party or its
affiliated companies free of restriction as evidenced by documentation in its
possessions; or
e. the non-Disclosing Party agrees in writing to be free of such restrictions; or
f. is required to be furnished to any authority, department, office or body by a decree,
order or authorization of law.
5. Each Party shall use Confidential Information of the other Party which is disclosed
to it only for the purpose of this Agreement and shall not disclose such
Confidential Information to any third party, without the other Party’s prior written
consent, other than to [selected Financial Institution’s/AMC’s name]
subcontractors and to each other’s employees on a need-to-know basis.
6. All information shall remain the property of the Disclosing Party and shall be
returned upon written request or upon the Recipient’s determination that it no
longer has a need for such information except that both parties may retain copies
of the Confidential Information, to the extent required to comply with applicable
legal and regulatory requirements.
7. The Parties agree that during the existence of the term of this Agreement, neither
Party shall solicit directly or indirectly the employees of the other Party.
8. The term of this Agreement shall be xxxx from the date of its execution by both
Parties. Both the parties shall jointly review this Agreement after end of xxxx and
shall extend it for xxxxx at a time if mutually agreed upon by both the parties
9. The authorised representatives from [selected Financial Institution/AMC name]

side shall be –
a. <xx>
10. Any controversy or claim arising out of or relating to this Agreement, or the
breach thereof, shall be settled by in accordance with the Arbitration and
Conciliation Act, 1996. Any claim for losses under this Agreement shall be
restricted to direct losses only.
11. This Agreement constitutes the entire understanding between the Parties hereto as
to the information and merges all prior discussions between them relating thereto.
No amendment or modification of this Agreement shall be valid or binding on the
Parties unless made in writing and signed on behalf of each of the Parties by their
respective authorised officers or representatives.
12. The Parties agree that the laws of India, other than its conflict of laws provisions,
shall apply in any dispute arising out of this Agreement.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed

as of the date set forth above.
Page 42 of 46
For and on behalf of For and on behalf of
Sig.: Sig.:
Name: Name:
Title: Title:
Place: Place:
Witness :
Signature:
Name:
Title:
Page 43 of 46
RFP for Selection of Financial Institution to house Electronics Development Fund (EDF) policy
10.6 Performa for Bank Guarantee towards Performance Security (From

Any commercial bank)
This Deed of Guarantee executed on this _____day of __________, 2015 at____by

__________________(from any commercial bank), having its Head Office/Registered
Office at
_______________ and inter-alia a Branch Office at _______________________ (hereinafter
referred to as the Bank. or .’the Guarantor’, which expression shall unless it be repugnant to
the subject or context hereof be deemed to include its successors and assigns)
In favor of
The Department of Electronics and Information Technology, Ministry of Communications &
Information Technology, Government of India, Electronics Niketan, 6, CGO Complex, Lodhi
Road, New Delhi-110003 (hereinafter referred to as “DeitY”)
WHEREAS
A. [................. ], a company within the meaning of the Companies Act, 1956 and having its
Registered
Office at [______] (herein after referred to as “the selected Financial Institution/AMC”,
which expression unless repugnant to the subject or context includes its successors, legal
representatives and permitted assigns) has been awarded the contract for Selection of
Financial Institution/AMC to house Electronics Development Fund (EDF) vide
Agreement dated _______;
B. In terms of clause ___ of the said Agreement, the selected Financial Institution/AMC has
to provide a Performance Guarantee for an amount equivalent to ------------------ of the Bid
Price in the format specified;
C. At the request of the Financial Institution/AMC, the Guarantor has agreed to provide this
guarantee, being these presents, guaranteeing the due and punctual performance/discharge by
the Vendor of its obligations under the said contract during the implementation period.
NOW THEREFORE THIS DEED WITNESSETH AS FOLLOWS

A. The Guarantor hereby irrevocably guarantees the due and punctual performance by the
selected Financial Institution/AMC of all its obligation under the said Agreement during the
implementation period;
B. The Guarantor shall, without demur, pay to DeitY sums not exceeding in aggregate Rs.
______
(Rupees ____) within five (5) calendar days of receipt of a written demand therefo from
DeitY stating that the Financial Institution/AMC has failed to meet its performance
obligations under the said contract during the implementation period. The Guarantor shall
have not to go into the veracity of any breach or failure on the part of the selected Financial
Institution/AMC or validity of the demand so made by DeitY and shall pay the amount
specified in the demand notwithstanding any direction to the contrary given or any dispute
whatsoever raised by the Vendor or any other person. The Guarantor’s obligations hereunder
shall subsist until all such demands are duly met and discharged in accordance with the
provisions hereof;
Page 44 of 46
C. In the event of delay on the part of the Guarantor to pay on demand, the Guarantor shall
be liable to pay interest at the rate of fifteen (15) per cent, compounding quarterly, to DeitY.
There shall not be any delay in payment of the guaranteed amount and payment of interest
shall not be an excuse for delaying the payment of guarantee amount. Time is the essence of
this Performance Guarantee;
D. The Guarantor shall also indemnify and keep DeitY indemnified against all losses,
damages, costs, charges claims and expenses whatsoever which DeitY may suffer, pay or
incur by reason of or in connection with any default on the part of the Vendor, including legal
proceedings taken against the said Financial Institution/AMC and/or the Guarantor for the
recovery of the monies referred to above;
E. The Guarantor hereby agrees that without the concurrence of the Guarantor, DeitY and
the selected Financial Institution/AMC shall be at liberty to vary, alter or modify the terms
and conditions of the contract executed by the DeitY with the selected Financial
Institution/AMC, and in particular to defer, postpone or revise the payment schedule under
the contract, modify the work at site and payment of interest or other monies under the
contract on such terms and conditions as maybe considered necessary by DeitY;
F. The Guarantor agrees that its liability under this guarantee shall in no manner be affected
by any such variation, alteration, modification, waiver dispensation with or release of security
and that no further consent of the Guarantor is required for giving effect to any such
variation, alteration, modification, waiver dispensation with or release of security;
G. This Guarantee shall be enforceable against the Guarantor notwithstanding that any
security or securities comprised in any instrument executed or to be executed by the selected
Financial Institution/AMC in favour of DeitY may at the time when the proceedings are taken
against the Guarantor of this guarantee be outstanding or unrealized or lost. In order to give
effect to this Guarantee, DeitY shall be entitled to treat the Guarantor as the principal debtor;
H. This Guarantee shall be irrevocable and shall remain in full force and effect until
________ unless discharged/released earlier by DeitY in accordance with the provisions of
the said contract. The Guarantor’s liability in aggregate shall be limited to a sum of Rs. _____
(Rupees ______ only);
I. This Guarantee shall not be affected by any change in the constitution or winding up of the
selected Financial Institution(or AMC) /the Guarantor or any absorption, merger or
amalgamation of the selected Financial Institution(or AMC) /the Guarantor with any other
person;
J. The Guarantor has power to issue this Guarantee and discharge the obligations
contemplated herein, and the undersigned is duly authorized to execute this Guarantee
pursuant to the power granted under
_____.
All future correspondence with reference to this Guarantee shall be made to …..(Bank Name
and Address).
The jurisdiction in relation to this Guarantee shall be the Courts at New Delhi and Indian Law
shall be applicable.
Page 45 of 46
IN WITNESS WHEREOF THE GUARANTOR HAS SET ITS HANDS

HEREUNTO ON THE DAY, MONTH AND YEAR FIRST HEREINABOVE
WRITTEN.
SIGNED AND DELIVERED by _______ Bank by the hand of _____________, its

__________ and authorized official.
Page 46 of 46

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RFP for Selection of Financial Institution to house Electronics Development Fund (EDF)

Selection of Financial Institution/AMC

Electronics Development Fund (EDF)

Department of Electronics and Information Technology

6.1 Component I ........................................................................................................................11

7 Evaluation & Award Criteria .....................................................................................................12

7.1 Technical Evaluation ...........................................................................................................12

7.1.1 Technical Evaluation marks scheme ..........................................................................13

7.2 Financial Evaluation ............................................................................................................15

8 Instructions to Bidders ...............................................................................................................16

8.1 Completeness of Response .................................................................................................16

8.9 Ernest Money Deposit (EMD) ............................................................................................19

9 General Terms & Conditions .....................................................................................................23

9.1 Applicability ........................................................................................................................23

9.22 Cessation of Services ..........................................................................................................31

10.1 Cover Letter (Technical) .....................................................................................................33

1 Invitation for Proposal

c. This RFP document is not transferable.

S. No. Information Details

Salient Features of EDF Policy

b. Make recommendation to government for release of funds as per its commitment

2. Review of Bids received

3. Setting up of EDF Management Board

4. Selection of Daughter Funds

5. Facilitating disbursal of Funds

6. Monitoring and Control

7. Communicating performance of investments made through the Fund

9. All other work which is required

5 Timelines & Deliverables

6.3 Component III

7 Evaluation & Award Criteria

7.1 Technical Evaluation

7.1.1 Technical Evaluation marks scheme

S.No. Parameter Max. Criteria for Technical Evaluation

2 The Total corpus that the 10 >5000: 100%

7.2 Financial Evaluation

Management Fees ( in % of the Committed

3. The Contract Price shall be all inclusive.

the total quoted price shall be that of the bidder.

7.3 Award of Work

7.4 Contract Duration

8.1 Completeness of Response

8.2 Proposal Preparation Costs

diligence activities, participation in meetings/discussions/presentations, preparation of

8.3 Bidder enquiries & Clarifications

S Sub RFP clause on which Clarification

8.4 Pre-bid Meeting

8.5 Amendment to RFP

8.6 DeitY’s Right to Modify Submission Deadline

8.7 DeitY’s Right to Terminate the Process

8.8 DeitY’s Right to Accept/Reject all/ Any Proposals

8.9 Ernest Money Deposit (EMD)

8.10 Submission of Bids

 Financial Bid – Original – 1 hard Copy

h. The proposal shall contain no inter-lineation or overwriting, except as necessary to

8.11 Venue and Deadline for Submission

Room No. 4216, 4th Floor,

8.12 Document Comprising the Bid

5. Financial proposal Cover letter

The Agreement is made on this _day of month ____, 2015.

This Deed of Guarantee executed on this _day of __, 2015 atby

SIGNED AND DELIVERED by _ Bank by the hand of _______, its