Disposal of Vehicles through E-Auction

The Islamabad Electric Supply Company (IESCO) is offering disposal of vehicles through an e-auction process based in Islamabad. This procurement invites interested bidders to participate in the sale of used vehicles on an 'as is where is' basis. The vehicles are available for inspection by prospective bidders who must satisfy themselves regarding the condition and quality before submitting their offers. The disposal process requires submission of earnest money in the form of a CDR or bank guarantee from a scheduled bank with a minimum rating of A+. The earnest money must be in the name of the bidder and valid for 120 days. Bids without the required earnest money will be rejected. The successful bidder must make full payment within 10 working days of the Letter of Acceptance issuance. Failure to do so will result in forfeiture of the earnest money. Vehicles must be removed from the site within 15 working days of receiving the release order, or rental charges of 1% per day of the vehicle's value will be applied. Bidders should be registered with the Federal Board of Revenue (FBR) and comply with all applicable tax regulations, including 18% GST and 10% income tax. The tender is open to firms not blacklisted by any government or related organizations. The process is governed by strict terms including force majeure provisions for time extensions. The submission deadline and exact dates are specified in the tender documents. Bidders are advised to carefully prepare their technical and financial bids, ensuring all required documents and earnest money are submitted timely. A practical tip for bidders is to thoroughly inspect the vehicles beforehand and ensure earnest money is submitted in the correct name to avoid disqualification. This tender offers a valuable opportunity for suppliers interested in acquiring vehicles through a transparent e-auction process managed by a major power distribution company in Islamabad.