Disposal of Vehicles through E-Auction

The Islamabad Electric Supply Company (IESCO) is offering disposal of vehicles through an e-auction process. This procurement is specifically for interested suppliers and bidders located in Islamabad who wish to participate in the sale of used vehicles on an as-is where-is basis. The vehicles are available for inspection prior to bidding, allowing bidders to assess the condition and quality before submitting their offers. The technical scope involves the disposal of various vehicles owned by IESCO. Bidders must submit earnest money in the form of a CDR or bank guarantee from a scheduled bank with an A+ rating or above. The earnest money must be valid for 120 days and submitted in the bidder's own name. Full payment is required within 21 working days of the Letter of Acceptance issuance. Failure to comply will result in forfeiture of the earnest money. Vehicles must be removed from the site within 21 working days after release order issuance, or rental charges of 1% per day of the vehicle's value will be applied. Eligibility criteria include valid FBR registration and no blacklisting by NGC, WAPDA, DISCOs, GENCOs, or any government department. Bidders should ensure compliance with all tax obligations including 18% GST and 10% income tax applicable on the bid price. The bid validity period is 120 days. The disposal committee reserves the right to reject any bid not supported by the required earnest money or submitted in the name other than the bidder. The submission deadline is strictly enforced, and bids must be submitted before the closing date. The submission method is electronic auction with earnest money submitted physically before bid closing. The disposal committee may extend deadlines or cancel the tender without assigning reasons. A practical tip for bidders is to carefully inspect vehicles beforehand and ensure earnest money is submitted correctly in the bidder's name to avoid disqualification. This tender offers a transparent opportunity for suppliers to acquire vehicles from a reputable government entity under clear terms and conditions. Bidders should prepare their technical and financial bids accordingly and adhere to all procedural requirements to maximize their chances of success.