Disposal of Unserviceable Store Material Through E-Auction

The Islamabad Electric Supply Company (IESCO) is offering disposal of unserviceable store material through an e-auction process. This procurement is specific to Islamabad and involves the sale of various unserviceable items currently held in IESCO stores. 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 all unserviceable store materials listed for disposal, with bidders responsible for weighment, counting, and loading of the materials. Eligible bidders must submit earnest money in the form of a CDR or bank guarantee from a scheduled bank with an A+ rating or above, 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. Bids without the required earnest money will be rejected. The successful bidder must make full payment within 21 working days of the Letter of Acceptance issuance, failing which the earnest money will be forfeited. Removal of materials must be completed within 21 working days of receiving the release order, or rental charges of 1% per day of the total value will be applied. This tender requires bidders to be registered with FBR and have a valid ATL status. Experience in handling similar disposal contracts is advantageous. The tender process includes submission of sealed bids before the closing date, which is not specified but must be adhered to strictly. The submission address is the Chief Engineer (Material Management) at IESCO Headquarters, Islamabad. A practical tip for bidders is to thoroughly inspect the materials before bidding to avoid any disputes later, as the sale is final and no claims will be entertained regarding the condition of the materials. Ensuring the earnest money is submitted correctly and in the bidder's name is crucial to avoid disqualification. Bidders should also prepare for timely payment and removal to avoid penalties. This tender offers a valuable opportunity for suppliers experienced in scrap and unserviceable material handling to engage with a major power distribution company in Pakistan.