What is bid/offer validity in GeM?

The Seller participating in the e-bidding / RA may offer any one of their product(s) already listed on GeM. The bid submitted under e-Bidding / RA shall remain valid for 15 days (or as stipulated by the Buyer in the bid document) from the Bid Opening Date (till 24.00 Hrs IST).

What is bid/offer validity?

Validity of the bid should be 90 days from the date of opening of tender.

What is bid end date?

Bid Due Date means the last date for submission of bids, as given in the Schedule for the Tender.

What is the validity period of a tender?

Once the tender closes, a decision must be taken within a certain number of days, as to who has been awarded the tender. It is usually stated upfront that the period in question would, for example be 30 days, 60 days, 90 days, and so forth. … Once the validity period has been exhausted, the tender is no longer valid.

What is price validity period?

Price validity . , means the period of validity which (Name of Company) is required to keep the price valid.

What is offer validity?

Offer Validity Period means the period stated in the Invitation to Offer or Request for Quote (as applicable).

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How do you extend a validity offer in GeM?

(iii) Bid Validity can be further extended for a maximum period of 90 days from the Bid Opening Date with mutual consent between Buyer and Seller. (iv) Any amendment / corrigendum to the e-bid invitation issued by the Buyer will be made online and shall be uploaded on the GeM.

What is a bid date?

Bid Date means the day on which the Bidder may submit Bids in the solicitation.

Can single bid be accepted?

Even when only one bid is submitted, the process should be considered valid provided the procurement was satisfactorily advertised and sufficient time was given for submission of bids, the qualification criteria were not unduly restrictive and prices are reasonable in comparison to market values,” the government said …

What is proposal validity?

Validity of Proposal means the period for which the Proposer’s proposal must remain valid after the submission date.

What is validity period in construction?

Tender Validity Period means the period of time during which the Tenderer’s Tender Offer shall remain valid and open for acceptance by the Employer, as set out in the Tender Particulars (as may be extended from time to time in accordance with these Instructions to Tenderer).

What is SAP validity period?

The validity period is defined by a beginning date and an end date. If you do not specify a validity period in a condition record, the system automatically proposes one. The proposed validity period is set in Customizing for Sales.