Disposal of Unserviceable Store Material

The Islamabad Electric Supply Company (IESCO) is offering the disposal of unserviceable store material through e-bids. This procurement is specifically for bidders interested in purchasing various unserviceable items currently held by IESCO headquarters in Islamabad. The disposal is conducted on an 'as is where is' basis, requiring bidders to inspect the materials beforehand to satisfy themselves regarding the type, quality, and condition of the items. The scope includes a range of unserviceable store materials that bidders will be responsible for weighing, counting, and loading upon successful award. Bidders must submit sealed earnest money in the form of a CDR or bank guarantee from a scheduled bank with a minimum A+ rating, valid for 120 days, in favor of the Chief Executive Officer IESCO Islamabad. The earnest money must be in the name of the bidder participating in the tender, and failure to provide this will result in rejection. Full payment is required within 21 working days of the Letter of Acceptance issuance, failing which the earnest money will be forfeited. Upon payment, a Release Order will be issued authorizing the removal of the material within 21 working days, with rental charges applicable for delays. Eligibility requires bidders to be registered with FBR and not blacklisted by any government department or organization such as NGC, WAPDA, DISCOs, or GENCOs. The tender process emphasizes compliance with government tax regulations, including 18% GST and 10% income tax applicable on the bid price. The validity of bids is 120 days, and extensions may be granted under force majeure conditions. The submission deadline and address are specified in the tender documents issued by IESCO. Bidders are advised to carefully review all terms and conditions, especially regarding earnest money submission and timely payment. A practical tip for bidders is to ensure their earnest money instruments are correctly named and valid to avoid disqualification. This tender offers a valuable opportunity for suppliers experienced in handling and disposing of electrical and related materials in Islamabad Capital Territory.