request for proposal (rfp) for procurement of …...request for proposal (rfp) for procurement of...

Request for Proposal (RFP) for

Procurement of Software for Implementation of

Indian Accounting Standards (Ind AS)

Union Bank of India, Department of Information Technology

1/1A, Technology Center, Adi Shankaracharya Marg,

Opp. Powai Lake, Powai, Andheri East, Mumbai – 400072

Procurement of Software for Implementation of Indian Accounting Standards

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DISCLAIMER

The information contained in this Request for Proposal (RFP) is provided to the

Bidder(s) on the terms and conditions set out in this RFP document. The RFP

document contains statements derived from information that is believed to be true

and reliable at the date obtained but does not purport to provide all of the

information that may be necessary or desirable to enable an intending contracting

party to determine whether or not to enter into a contract or arrangement with

Bank in relation to the provision of services.

The RFP document is not a recommendation, offer or invitation to enter into a

contract, agreement or any other arrangement, in respect of the services. The

provision of the services is subject to observance of selection process and

appropriate documentation being agreed between the Bank and any successful

Bidder as identified by the Bank, after completion of the selection process as

detailed in this document. No contractual obligation whatsoever shall arise from

the RFP process unless and until a formal contract is signed and executed by duly

authorized officers of Union Bank of India with the Bidder. The purpose of this RFP

is to provide the Bidder(s) with information to assist the formulation of their

proposals. This RFP does not claim to contain all the information each Bidder may

require. Each Bidder should conduct their own investigations and analysis and

should check the accuracy, reliability and completeness of the information in this

RFP and where necessary obtain independent advice. Union Bank of India makes no

representation or warranty and shall incur no liability under any law, statute, rules

or regulations as to the accuracy, reliability or completeness of this RFP. Union

Bank of India may in its absolute discretion, but without being under any obligation

to do so, update, amend or supplement the information in this RFP.


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GENERAL INSTRUCTIONS TO BIDDERS

All bidders must note that this being E-tender, bids received only through online on E-

tendering portal https://ubi.abcprocure.com shall be considered as an offer. Any bid

submitted in physical form will not be received or opened and shall be summarily

rejected.

Procedure for submission of E-tender by bidder: Interested bidders who wish to participate should visit website

https://ubi.abcprocure.com which is the ONLY website for bidding their offer. Further,

the procedure is as follows:

1. Register your company in website https://ubi.abcprocure.com for obtaining a

Login ID and Password.

2. Using the login ID, password and digital signature, login in to the tender portal

to download the tender document. It is mandatory for the Bidders to have a

valid Digital Signature Certificate – Signing and Encryption (Class – II or Class –

III) issued by any of the valid Certifying Authority approved by Govt. of India as

per IT Act, 2000. DSC on Organization name is required, if bidder want to

participate on behalf of his/her Company.

3. Pay Earnest Money Deposit (i.e. EMD) through Demand Draft (i.e. DD)/Bank

Guarantee (i.e. BG) and upload the scan copy in website.

4. Upload supporting documents by clicking “Mapped Documents”. Then submit the

tender. Take a print screen of “Bid successfully submitted” message for

reference.

5. Primary Contact Numbers:- M:- 9081000427, 9904407997

a. Jaymeet Rathod - 079-68136829, [email protected]

b. Vinayak Khambe - 079-68136835, [email protected]

c. Nadeem Mansuri - 079-68136853, [email protected]

d. Nandan Valera - 079-68136843, [email protected]

e. Hemangi Patel - 079-68136852, [email protected]

f. Kanchan Kumari - 079-68136820, [email protected]

g. Deepak Narekar - 079-68136863, [email protected]

h. Anshul Juneja - 079-68136840, [email protected]

i. Salina Motani- 079-68136831, [email protected]

j. Sujith Nair - 079-68136857, [email protected]

k. Devang Patel:- 079-68136859, [email protected]

6. Alternate Contact No.:- Mr. Yashrajsinh Rathod:- 079-68136815, 9879996111,

[email protected].

https://ubi.abcprocure.com/

http://www.tenderwizard.com/MMRC

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7. System requirement for online bid submission:

a. Computer / Laptop (Notebook) with internet connection of minimum 256

kbps speed.

b. Operating system - Windows XP Service pack -3 / VISTA/ Windows 7 or

above.

Bidder must submit the offer before online closing date & time. The website will

automatically stop accepting the offer after online closing date and time.

NOTE: Submission of any bid document through offline mode will not be accepted except

Cost of RFP, Bid Security (EMD) and Pre-Contract Integrity Pact (on plain paper) signed by

authorized signatory and should be submitted on or before last date & time of bid

submission.


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Abbreviations

The long form of some abbreviations commonly used in the document is given below:

Abbreviations Description

ARE Accounting Rule Engine

ARO Asset Retirement obligation

CCF Credit Conversion Factor

CVA Credit Value Adjustment

DPD Days Past Due

DSB Department of Supervision by Banks

DVA Debit Value Adjustment

EAD Exposure at Default

ECL Expected Credit Loss

ECR Error Correction Model

EDW Enterprise Data Warehouse

EIR Effective Interest Rate

EMI Equated Monthly Instalments

ETL Extract, Transform and Load

FIFO First in First Out

FIRB Foundation Internal Rating Based Approach

FVOCI Fair Value through Other Comprehensive Income

FVTPL Faire value through Profit and Loss account

GDP Gross Domestic Product

GL General Ledger

ICAI Institute of Chartered Accountant of India

IFRS International Financial Reporting Standard

Ind AS Indian Accounting Standard

IRB Internal Rating Based

IRR Internal Rate of Return

IRS Interest Rate Sensitivity

LAS Lending Automation System

LGD Loss Given Default

LOB Line Of Business

LTV Loan to Value

MCA Ministry of Corporate Affairs

MDM Mobile Device Management

MOC Memorandum of Change

MTM Mark to Market

NPA Non Performing Asset


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Abbreviations Description

NSIC National Small Industries Corporation

OSD Original Software Developer

OSMOS Offsite Monitoring and Surveillance

PD Probability of Default

PIT Point in Time

POCI Purchased or Originated Credit Impaired Financial Assets

RWA Risk Weighted Assets

SBU Strategic Business Unit

SEBI Securities and Exchange Board of India

SICR Significant Increase in Credit Risk

SMA Special Mention Accounts

SPPI Solely for the purpose of Principal and Interest

TTC Through the Cycle

UAT Users Acceptance Test

UGD Usage Given Default

VAPT Vulnerability Assessment and Penetration Test

VAR Vector Auto Regression


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Schedule of Events & Bid Details Ref. No. UBI/DIT/2019-20/IndAS

Date of issue of RFP/Download Start Date and Time

15.07.2019 at 11:00 Hours

Pre bid meeting 22.07.2019 at 11.00 Hours (Venue: as mentioned in “Place of opening of Bids”)

Last date and time for submission of query

23.07.2019 by 17:00 Hours

Download End Date & Time 13.08.2019 by 15:00 Hours

Last date and time for submission Of Bidding Document

13.08.2019 by 16:00 Hours

Date and Time of Technical Bid Opening

13.08.2019 at 16:15 Hours

Place of opening of Bids Union Bank of India, Department of Information Technology (5th Floor), Technology Centre, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Mumbai. Pre bid meeting is at 2nd floor.

Contact Numbers As above Tel:(022) 25710507/528/450

Cost of RFP Rs.2,500/- (Rupees Two Thousand Five Hundred Only) in the form of Demand Draft in favour of Union Bank of India, payable at Mumbai.

EMD Rs.20,00,000/- (Rupees Twenty Lac Only) in the form of Demand Draft/Pay Order in favor of Union Bank of India, payable at Mumbai. EMD can also be paid in the form of Bank Guarantee (BG) of any scheduled commercial Bank other than Union Bank of India valid for Six months with a claim period of 60 days from the date of issuance of RFP. EMD should be enclosed in Technical Bid.

Performance Bank Guarantee Performance Bank Guarantee equivalent to 10% of the project cost valid for the contract period with a claim period of 3 months from date of issue of purchase order.

Contact details Interested Bidders are requested to send the email to: [email protected] [email protected] [email protected] containing below mentioned information, so that in case of any clarification same may be issued: Name of company, contact person, Mailing address with Pin Code, Telephone No., Mobile No., email address etc.

Note: Any bid received after scheduled date and time of the receipt of bids prescribed as

mentioned above, will not be accepted by the Bank. Bids once submitted will be treated as final and no further correspondence will be entertained on this.

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Table of Contents 1. Introduction ........................................................................................................................... 10

2. Integrity Pact (IP) ................................................................................................................. 10

3. Objectives of the RFP .......................................................................................................... 10

4. Invitation of Tender Bids ..................................................................................................... 11

5. Eligibility Criteria ................................................................................................................. 11

6. Broad Scope of Work ............................................................................................................ 13

7. Solution Specifications / Functional Requirement ......................................................... 14

8. Disaster Recovery ................................................................................................................. 15

9. Infrastructure ........................................................................................................................ 15

10. Instructions for Bid Submission: ......................................................................................... 16

11. Onsite development, support & maintenance Resource ............................................... 32

12. Rejection of Bid .................................................................................................................... 35

13. Pre-Bid Meeting .................................................................................................................... 35

14. RFP Response......................................................................................................................... 35

15. Modification and Withdrawals of Bid ................................................................................ 36

16. Liquidated Damage (LD) ...................................................................................................... 36

17. Warranty ................................................................................................................................ 37

18. Contract Period ..................................................................................................................... 37

19. Annual Technical Support Agreement .............................................................................. 38

20. Adherence of cyber security policy ................................................................................... 39

21. Patent Rights ......................................................................................................................... 40

22. Price Validity ......................................................................................................................... 40

23. Payment Terms ..................................................................................................................... 40

24. Authorized Signatory ............................................................................................................ 41

25. Limitation of liability ........................................................................................................... 41

26. Confidentiality ...................................................................................................................... 41

27. Indemnity ............................................................................................................................... 42

28. Intellectual Property Rights................................................................................................ 43

29. Non-Transferable Offer ....................................................................................................... 44

30. Normalization of Bids........................................................................................................... 44

31. Responsibility for Completeness ........................................................................................ 44

32. Customization Process ......................................................................................................... 45

33. Escrow Arrangement ............................................................................................................ 46

34. Ownership and Retention of Documents .......................................................................... 46

35. Penalty ................................................................................................................................... 47

36. Service Level Agreement & Penalties ............................................................................... 47


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37. Documents and Manuals ...................................................................................................... 49

38. Audit ....................................................................................................................................... 49

39. Force Majeure ....................................................................................................................... 50

40. Exit Clause ............................................................................................................................. 50

41. Termination of Contract ..................................................................................................... 51

42. Arbitration ............................................................................................................................. 52

43. Jurisdiction ............................................................................................................................ 52

44. Submission of Bids ................................................................................................................ 52

45. Annexure A – Letter of Acceptance ................................................................................... 53

46. Annexure B - Bid Form ......................................................................................................... 55

47. Annexure C - Bidder‟s Profile Format ............................................................................... 56

48. Annexure D - Eligibility Criteria ......................................................................................... 57

49. Annexure D (A) – Compliance to RFP terms & conditions ............................................. 59

50. Annexure D (B) – Declaration for Compliance ................................................................. 61

51. Annexure E – Functional and Technical Requirement for Compliance ....................... 62

52. Annexure E (A) – Solution Specification / Functional Requirement for Evaluation.. 73

53. Annexure F – Un-Priced Indicative Commercial Bid ..................................................... 102

54. Annexure F (A) - Indicative Commercial Bid ................................................................. 104

55. Annexure G - Reference Site Details .............................................................................. 106

56. Annexure H - Financial Position of Bidder for Last 3 Financial Years ....................... 107

57. Annexure J – Project Timelines ....................................................................................... 108

58. Annexure K - Pre-Contract Integrity Pact ...................................................................... 109

59. Annexure L – Details of Hardware & Operating System Requirement ...................... 117

60. Annexure M – Format of Performance Bank Guarantee ............................................... 118

61. Annexure N – Format for Bank Guarantee for EMD ...................................................... 121

62. Annexure O - Business Rules for Reverse Auction ........................................................ 123

63. Annexure O (A) - Compliance Statement – Reverse Auction ...................................... 131

64. Annexure O (B) - Letter of Authority for Participation in Reverse Auction ............. 132

65. Annexure O (C) - Undertaking of Process Compliance Statement for RA ................ 133

66. Annexure P – Confidentiality / Non Disclosure Agreement ......................................... 135

67. Annexure Q – Bid Query Format ....................................................................................... 142

68. Annexure R - Undertaking By Bidder ............................................................................... 143

69. Annexure S - Undertaking of Information Security....................................................... 144

70. Annexure T - Letter for Refund of EMD .......................................................................... 145


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UNION BANK OF INDIA

1. Introduction

Union Bank of India, a Public Sector Bank has its Head Office at 239, Vidhan Bhavan

Marg, Union Bank Bhavan, Nariman Point, Mumbai – 400021, having Department of

Information Technology at 1/1A, Adi Sankaracharya Marg, opp. Powai Lake, Powai,

Andheri East, Mumbai-400072. Bank has 4300+ branches spread across the country.

2. Adoption of Integrity Pact (IP)

Venders/bidders/sellers, only those who commit themselves to Integrity Pact (IP)

with the Bank, would be considered competent to participate in the bidding

process. In other words, entering into this pact would be the preliminary

qualification. In case of bids for value of Rs.1.50 Crore not accompanied with

signed IP by the bidders along with the technical bid, the offers shall be summarily

rejected.

IP shall cover all phases of contract i.e. from the stage of Notice Inviting Tenders

(NIT)/Request for Proposals (RFP) till the conclusion of the contract i.e. final

payment or the duration of warrantee/guarantee. Format of IP is attached as

Annexure K for strict compliance.

The following Independent External Monitors (IEMs) have been appointed by the

Bank, who will review independently and objectively, whether and to what extent

parties have complied with their obligation under the pact.

a. Mr. B Ravichandran, IRS (C&CE) (Retd.),

E-mail- [email protected]

b. Mr. Ashwani Kumar,

E-mail- [email protected]

Integrity Pact (IP) should be deposited with Mr. Vikram Gaikwad (022-25710507) or

Mr. Sanjiiev Kumar (022 – 25710528) of Procurement Department, DIT at the

address mentioned in place of opening of bids.

3. Objectives of the RFP

Union Bank of India (hereinafter called as “Union Bank” or “Bank” or “the

Bank”) invites proposals from experienced and eligible entities (hereinafter

referred to as “Respondent” or “Bidder” or “Vendor”) for Procurement of

Solution for Implementation of Indian Accounting Standards. The bidder shall be

OEM (Original Equipment Manufacturer)/OSD (Original Solution Developer) or

authorized partner of OSD.




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4. Invitation of Tender Bids

This RFP is an invitation for bidder responses. No contractual obligation on

behalf of the Bank whatsoever shall arise from the RFP process unless and until

a formal contract is signed & executed by duly authorized officers of the Bank

and the successful bidder. However, until a formal contract is prepared and

executed, this offer together with Bank‟s written acceptance & notification of

award shall constitute a binding contract with the successful bidder.

Bidders are expected to examine all instructions, forms, terms, specifications,

and other information in the RFP document. Failure to furnish any information

required by the RFP document or to submit a bid not substantially responsive to

the RFP document in every respect will be at the Bidder‟s risk and may result in

the rejection of its bid. The procedure and terms & conditions for submission of

bid are enumerated in this RFP.

All offers of the bidders shall be unconditional and once accepted whether with

or without modifications by the Bank shall be binding between the Bank and

such Bidder.

The RFP Document can be downloaded from Bank‟s Website

www.unionbankofindia.co.in or from Government portal eprocure.gov.in or e-

Procurement Portal ubi.abcprocure.com. The response should be uploaded

online at the e-procurement Portal ubi.abcprocure.com.

5. Eligibility Criteria Only those Bidders who fulfill the following criteria are eligible to respond

to the RFP. Document/s in support of all eligibility criteria are required to

be submitted along with the Technical Bid. Offers received from the bidders

who do not fulfill any of the following eligibility criteria are liable to be

rejected.

5.1. The bidder has to submit Integrity Pact (IP) signed by authorized signatory as

prescribed format mentioned in Annexure K on plain paper in advance (not

prior to issuance of RFP) or at the time of bid submission. Bidder shall be

liable for rejection in case of non-submission of the same.

5.2. The bidder should be a registered/incorporated company in India as per

Companies Act 1956/2013. It can be a Government Organization/Public

Sector Unit/Limited Liability Partnership (LLP)/Private Limited Company/

Public Limited Company and must be in existence for the last 5 years.

Relevant Documents of registration is to be submitted.

5.3. Bidder should have minimum annual turnover of Rs. 50 Crore each during

last three financial years (2016-17, 2017-18 & 2018-19). In case the audited

financials for the year 2018-19 is not available, CA Certificate for turnover

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of 2018-19 should be submitted. This must be the individual company

turnover and not that of any group of companies.

5.4. The bidder should have positive operating Profit (as EBITDA i.e. Earnings,

Before Interest, Tax, Depreciation & Amortization) in the last three financial

years, (2016-17, 2017-18 and 2018-19). In case the audited financials for

the year 2018-19 is not available, CA Certificate for EBITDA of 2018-19

should be submitted.

5.5. The bidder/OEM should have implemented/under implementation of the

proposed solution at least in any one Scheduled Commercial Banks/NBFCs in

India/Overseas during last three years. (Three year's period will be reckoned

as of last date of submission of the bid. The bidder has to submit Purchase

Order / letter from client for satisfactory performance of solution and

supporting documents for the same).

5.6. The Bidder should be OEM or Original Solution Developer (OSD) or their

authorized partners or Service Provider (SP) or System Integrator (SI) of

OEM/OSD in India with an authority to do customization/up-gradation during

the period of contract with the Bank. Bidder needs to provide Manufacturer

Authorization Form (MAF) from OEM stating that bidder is authorized partner

of OEM and authorized to participate in this tender and in case the bidder is

not able to perform obligations as per contract during the contract period,

contracted services will be provided by OEM within the stipulated time. Both

OEM/OSD & their authorized partner cannot participate in the RFP. In case,

both OEM & his authorized partner participate, only bid of the OEM/OSD will

be considered.

5.7. The Bidder and OSD should have not been black listed at any time by the

Central / State Governments/ PSUs/PSBs. In case, in the past, the name of

their Company was black listed by any of the Govt. Authority or PSUs/PSBs,

the name of the company or organization must have been removed from the

said list as on date of submission of the RFP, otherwise it will not be

considered. Self Declaration on bidder‟s and OSD‟s letter Head signed by

authorized signatory of the bidder and OSD as per the Annexure R is required

to be submitted.

The participating bidders are required to submit unambiguous documentary

evidences, in support of their meeting the above eligibility criteria. The Bidder must

comply with all above mentioned criteria. Non compliance of any of the criteria will

entail rejection of the Bid summarily.

Bank reserves the right to verify /evaluate the claims made by the Bidder

independently. Any decision of the Bank in this regard shall be final, conclusive

and binding upon the bidder. The Bank may accept or reject an offer without

assigning any reason what so ever. All documentary evidence/certificates

confirming compliance to eligibility criteria should be part of technical bid.


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6. Broad Scope of Work

The objective of this RFP is to implement the solution in the Bank to comply with

reporting requirements (for placing all the requirements including technological

changes), migration of Bank, its subsidiary, JV and Associate to Ind-AS as per

Standards notified by MCA / ICAI and RBI / SEBI / and any other statutory guidelines

as and when issued.

Following is the broad scope for Procurement, Development, Implementation,

Maintenance & Support for Software on IFRS converged Indian Accounting Standards

(Ind AS) but not limited to :-

6.1. Ind AS implementation on Business including profit planning and budgeting,

taxation, capital planning, impairment of assets, credit decision making and

capital adequacy, De-conjunction of assets / liabilities, accounting areas such

as financial instruments, revenue recognition, property, plant and equipment,

leases, employee benefits, deferred taxes, consolidation, provisions etc

besides various reports and disclosures.

6.2. Bidder to do comparison study of differences between the current accounting

framework and Ind AS. Likely impact analysis on all key indicators in all

financial statements and disclosure requirements thereof due to change in the

accounting standards to be done.

6.3. The transition to Ind AS entails overhaul of implemented Business model,

accounting and Risk management framework and practices in vogue to comply

with Ind AS reporting and disclosure standards, and therefore the bidder shall

be required to provide comparative Comparative financial statistics and

interpretation/analysis thereof for latest and previous periods by factoring for

such changes.

6.4. The bidder should devise setup for development, UAT, production and DR

environment. The bidder should also support in conducting UAT, certification,

registration, VAPT, audit and all other processes for release of the developed

application to production.

6.5. In case the Bidder decides to tie up with more than one OEM, Bidder or the

System Integrator would be responsible for ensuring due co-ordination between

different OEMs and the Bank so as to ensure that all the requirements of the

Bank with respect to IND AS are met. Bidder is expected to sort out

differences/ reconciliation issues if any arising between different systems to

ensure that the calculations and reporting is done accurately and on time.

6.6. Bidder / System Integrator is also expected to co-ordinate the process of

customizing / enhancing the existing Accounting system to comply with Ind AS

reporting and disclosure standards.


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7. Solution Specifications / Functional Requirement

7.1. The Bidder must clearly state against each of the requirements mentioned

below as to whether they are Available (A), Not Available (N) or

Customizable (C). The offered software solution must have at least 75%

of the functionalities as provided in “Annexure E (A) – Solution

Specification / Functional Requirement for evaluation” in the Available

(A) or Customizable (C) category. Bids where the proposed solution does

not have 75% of the functionalities in the Available (A) plus Customizable

(C) category shall be liable to be rejected.

7.2. The Bidder is required to study the existing interface and making

necessary changes in interfaces between the proposed solution with the

applications and systems mentioned below:-

7.2.1. Finacle – Core Banking Solution (Domestic & Overseas)

7.2.2. Domestic & Overseas Treasury Application (Kastle/Finacle

Treasury)

7.2.3. Manual Data (Excel Files)

7.2.4. Oracle General Ledger

7.2.5. Enterprise Data Ware house (EDW)

7.2.6. Lending Automation Solution (LAS)

7.2.7. Other relevant systems

7.3. All regulatory/Statutory requirements as and when prescribed by RBI/

SEBI/ICAI/Basel/any other Regulator/Statutory body should be made

available by the successful bidder through the solution provided without

raising any change request and without any additional cost to the Bank.

7.4. Any other standard applicable to Banks as per regulatory guidelines from

time to time should be made available by the bidder through the solution

without any additional cost to the Bank.

7.5. Detailed Functional and Technical specifications for Compliance are given

in Annexure E. The Bidder must clearly state against each of the

requirements mentioned below as to whether complied or not complied.

7.6. The bidder should essentially comply with the entire Technical and

Functional requirement (Annexure E) so as to provide the solution under

the scope of this RFP.

7.7. The bidder must have support offices in Mumbai and Bengaluru. Address

and contact details of support offices should be submitted.


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8. Disaster Recovery

The proposed system must be capable and compatible for Disaster Recovery

Implementation. The successful bidder should describe the provisions and setup

required for disaster recovery. The successful bidder should replicate the whole

setup for all modules with customization in DR.

9. Infrastructure

Bank shall provide Hardware, Operating System and Database (If proposed solution

supports Oracle Database, Bank is having ULA (Unlimited License Agreement) for

Oracle database and same will be provided by bank). The selected bidder has to

provide sizing to run the proposed application and other environmental or related

software.

The successful bidder must design the solution with high availability & secure

infrastructure in Data Centre and Disaster Recovery site as per Industry accepted

security standards and best practices.

The Bank is not responsible for any assumption made by the bidder with respect to

the sizing. In the event the sizing proposed by the successful bidder does not meet

the performance / service levels of the Bank, the successful bidder will at their

cost carry out the necessary upgrades / replacements. The Bank has the right to

deduct / recover from the successful bidder the required additional expenses

which Bank may incur on account of such upgrades / replacements.

9.1. Maintenance Support

The Bidder must provide uninterrupted availability of the solution and

ensure that the problem is resolved within the time schedule as

prescribed in the Service Level agreement (SLA). The support includes,

inter alia, maintenance, patch management, upgrades and troubleshooting,

audit closures etc.

9.2. Project Management

9.2.1. Successful bidder must appoint a Support Coordination Manager

dedicated to the Bank account only, immediately after receiving

the work order/ letter of intent. The Coordination Manager should

have direct experience of successful end to end

implementation/management of the entire project. The

Coordination Manager should be directly and easily accessible to

the Bank officials through convenient communication channels

l i k e phone/e- mail.

9.2.2. Detailed Project review must be conducted during project execution

at no additional cost. These reviews are required


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weekly/fortnightly/monthly (frequency will be decided by the Bank)

with the project leaders/ project manager or steering Committee

level (of successful bidder and the Bank) respectively. The review will

be in order to monitor progress of the project and take necessary

corrective action, if required. The successful bidder will submit

weekly reports regarding the progress of work along with the

corrective actions/ suggestions and risk management plan. Any

document submitted by the successful bidder should be properly

backed up by quality review documents. Extension of contract for

support however shall be at the discretion of the bank.

9.3. Implementation Plan and Schedule

The Bidder shall provide all services specified hereunder and in the

Technical, Operational and Functional specifications. If the Bank finds

that any of the staff of the Bidder assigned to work at onsite is not

responsive then the Bidder will be notified, the Bidder should resolve the

issue to the satisfaction of the Bank. Bidders should give detailed

implementation plan.

The project should be completed within 6 months from date of placing of

purchase order as under:

10. Instructions for Bid Submission:

10.1. Cost of RFP

RFP document can be purchased against payment of Rs.2,500/- (non-

refundable) in the form of a demand draft issued by a scheduled commercial

bank favoring Union Bank of India payable at Mumbai. In case of bidders

registered with The National Small Industries Corporation Limited (NSIC)/MSME,

they are eligible for waiver of RFP document cost. However, they need to

provide valid MSME/NSIC Certificate clearly mentioning that they are

registered with NSIC under single point registration scheme. Alternatively, the

Sr. No

Activities Duration

1. SRS of Indian Accounting Standards (IndAS) 1 month

2. Installation, integration and Customization &

Development of IndAS Software Solution 5 months

3. User Acceptance Test, Migration of data and Pilot Run 2 months

4. Full Project

implementation/documentation/training and Go-

live

1 month

Total 9 months


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RFP document can be downloaded from the Bank's website

www.unionbankofindia.co.in or from Government tender portal

eprocure.gov.in or from e-procurement site ubi.abcprocure.com.

In the event of non-payment of the fee of Rs.2,500/- towards the RFP form,

the offer will be rejected.

All costs and expenses (whether in terms of time or material or money)

incurred by the Recipient/ Bidder in any way associated with the development,

preparation and submission of responses, including but not limited to

attendance at meetings, discussions, demonstrations, etc. and providing any

additional information required by the Bank, will be borne entirely and

exclusively by the Bidder.

10.2. Bid Security/EMD

10.2.1. The bidder should deposit bid security of Rs.20,00,000/- (Rupees

Twenty lac Only) in the form of a demand draft/Pay Order favoring

Union Bank of India, payable at Mumbai or Bank Guarantee from any

Scheduled Commercial Bank other than Union Bank of India. Bank

Guarantee should be valid for minimum 6 months and with claim period

of one month.

10.2.2. EMD should be deposited with Mr. Vikram Gaikwad (022-25710507) or

Mr. Sanjiiev Kumar (022 – 25710528) of Procurement Department, DIT

at the address mentioned in place of opening of bids.

10.2.3. In case of bidders registered with NSIC, they are eligible for waiver of

EMD. However, they need to provide valid NSIC Certificate clearly

mentioning that they are registered with NSIC under single point

registration scheme. No interest will be payable on the Bid Security

amount.

10.2.4. Unsuccessful Bidders‟ Bid security will be returned after completion of

tender process. Unsuccessful Bidders should submit the Letter for

Refund of EMD/Bid Security for returning of the bid security amount as

per Annexure T.

10.2.5. Bid security of successful bidder will be released after submission of

Performance Bank Guarantee within six months from the date of

receipt of purchase order or before expiry of EMD for an amount

equivalent to 10% of the project cost valid till contract period of 5

years plus three months and such other extended period as the Bank

may decide for due performance of the project obligations.

http://www.eprocure.gov.in/


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10.2.6. Bid Security will be forfeited in the following cases:

10.2.6.1. If a bidder withdraws its bid during the period of bid

validity; or

10.2.6.2. If a Bidder makes any statement or encloses any form which

turns out to be false / incorrect at any time prior to signing

of Contract.

10.2.6.3. In case of any technical issues during reverse auction, if

Bank decides to re-conduct reverse auction and any of the

shortlisted bidder does not participate in the re-reverse

auction at least by way of log in.

10.2.6.4. In case of a successful Bidder, if the Bidder fails:

a. To execute Contract within the stipulated time: or

b. To furnish Performance Bank Guarantee as mentioned

in Performance Bank Guarantee herein

The successful Bidders Bid security will be discharged upon the Bidder

signing the Contract and furnishing the performance bank guarantee as per

the format mentioned in Annexure M, Performance Bank Guarantee.

10.3. Performance Bank Guarantee

The successful bidder shall provide a Performance Bank Guarantee within 30

days from the date of receipt of the order or signing of the contract

whichever is earlier in the format as provided in Annexure M to the extent of

10% of the total contract value for the entire period of the contract with a

claim period of 3 months and such other extended period as the Bank may

decide for due performance of the project obligations. The guarantee should

be of that of a nationalized Bank only, other than Union Bank of India.

In the event of non-performance of obligation or failure to meet terms of

this tender the Bank shall be entitled to invoke the performance guarantee

without notice or right of demur to the successful bidder. Any amount

pending for payment due to non achieving of milestone/s set under the

agreement or any other reason solely attributable to the successful bidder

should be included in the remaining amount of the contract value.

The Bank reserves the right to recover any dues payable by the selected

bidder from any amount outstanding to the credit of the selected bidder,

including the pending bills and/or invoking Performance Guarantee, if any,

under this contract.

If the Performance guarantee is not submitted within the stipulated time,

the Bank reserves the right to cancel the order / contract and the earnest

money deposit taken from the successful bidder, will be forfeited.


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10.4. Language of Bid

The language of the bid response and any communication with the Bank

must be in written English only. Supporting documents provided with the

RFP response can be in another language so long as it is accompanied by an

attested translation in English, in which case, for purpose of evaluation of

the bids, the English translation will govern.

10.5. Period of Validity of Bids

Bids should remain valid for the period of at least 180 days from the last

date for submission of bid prescribed by the Bank. In case the last date of

submission of bids is extended, the Bidder shall ensure that validity of bid is

reckoned from modified date for submission. Further extension of the

validity of the bid will be decided by the bank in case of need. The price

quoted in Final Commercial Offer will be valid for at least 180 days from the

date of offer.

10.6. Amendment of Bidding Documents

Prior to the last date for bid‐submission, the Bank may, for any reason,

whether at its own initiative or in response to clarification(s) sought from

the prospective Bidders, modify the RFP contents/ covenants by

amendment. Clarification /amendment, if any, will be notified on Bank‟s

website. No individual communication would be made in this respect.

10.7. Authorization to Bid

The proposal/ bid being submitted would be binding on the Bidder. As such, it

is necessary that authorized personnel of the firm or organization sign the bid

documents. The designated personnel should be authorized by a senior

official of the organization having authority or Board.

10.7.1.1. All pages of the bid, shall be initialed by the person or persons

signing the bid

10.7.1.2. Bid form shall be signed in full & official seal affixed.

10.7.1.3. Any inter‐lineation, erasure or overwriting shall be valid only if they

are initialed by the person or persons signing the Bid.

10.7.1.4. All such initials shall be supported by a rubber stamp impression of

the Bidder‟s firm.

10.7.1.5. The proposal must be accompanied with an undertaking letter duly

signed by the designated personnel providing a bid commitment. The

letter should also indicate the complete name and designation of the

designated personnel.


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10.8. Two part Bid

The Bid should be submitted online at the e-Procurement site

https://ubi.abcprocure.com by the Bidder. It should comprise the

following components:

10.8.1. Technical bid – Part I: “Technical Bid for Procurement of Software

for Implementation of Indian Accounting Standards”.

10.8.2. Commercial bid – Part II: “Indicative Commercial Bid for Procurement

of Software for Implementation of Indian Accounting Standards”.

10.8.3. Any bid document not conforming to any one of the above terms will

be rejected.

10.8.4. In the first stage, Integrity Pact (IP) signed by authorized signatory

submitted by bidder will be reviewed and if it is as per prescribed

format then only TECHNICAL BID will be opened and evaluated.

Bidders satisfying the technical requirements as determined by the

Bank and accepting the terms and conditions of this document shall

be short-listed for commercial evaluation. Under the second stage,

the INDICATIVE COMMERCIAL BID of only those bidders, whose

technical bids are qualified, will be opened.

10.8.5. As a part of technical evaluation, the bidders may be required to give

complete presentation of their offer solution. The presentation may

also include details of customization required if any and the time

period for its complete implementation.

10.8.6. After evaluation of indicative commercial bids, the L1 bidder will be

selected using Reverse Auction process. Reverse Auction Rules are

given in Annexure O.

10.8.7. The indicative commercial bid will be used for finalizing the starting

bid for reverse auction. After completion of the reverse auction,

selected bidder should submit the price break-up as per the Annexure

F (A).

10.9. Technical Bid

10.9.1. The Technical Bid - Part I should be complete in all respects and contain

all information asked for in this document. It should not contain any price

information.

10.9.2. The Technical Bid - Part I must be submitted online.



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10.9.3. The following two original documents are to be submitted to the bank

physically as well as online mode on or before last date & time of bid

submission:

10.9.3.1. Bid security of Rs.20,00,000/-(Rupees Twenty Lac Only) in the form

of a demand draft/pay order issued by a scheduled commercial

bank favoring Union Bank of India, payable at Mumbai or Bank

Guarantee from any scheduled commercial Bank other than Union

Bank of India.

10.9.3.2. RFP Cost of Rs. 2,500/- (Rupees Two Thousand Five Hundred Only)

in the form of a demand draft issued by a Scheduled commercial

bank favoring Union Bank of India, payable at Mumbai

10.9.3.3. Integrity Pact (IP) as provided in Annexure K is to be submitted

physically. It should be on plain paper duly signed by authorized

signatories.

10.9.4. The following documents are to be submitted online at the e-procurement

site https://ubi.abcprocure.com.

10.9.4.1. In case of bidders who have been registered with NSIC, are

eligible for waiver of EMD and RFP cost, they need to submit valid

NSIC Certificate clearly mentioning that they are registered with

NSIC under single point registration scheme.

10.9.4.2. Annexure A - Letter Of Acceptance

10.9.4.3. Annexure B - Bid Form

10.9.4.4. Annexure C - Bidder's Profile Format

10.9.4.5. Annexure D - Eligibility Criteria

10.9.4.6. Annexure D (A) - Compliance To RFP Terms & Conditions

10.9.4.7. Annexure D (B) – Declaration for Compliance

10.9.4.8. Annexure E - Functional and Technical Requirement for

compliance

10.9.4.9. Annexure E(A) – Solution Specification / Functional Requirement

for Evaluation

10.9.4.10. Annexure F – Unpriced Indicative Commercial Bid

10.9.4.11. Annexure G - Reference Site Details

10.9.4.12. Annexure H - Financial Position Of Bidder For Last 3 Financial

Years

10.9.4.13. Annexure J – Project Timelines

10.9.4.14. Annexure L - Details Of Hardware & Operating System

Requirement

10.9.4.15. Annexure O - Business Rules for Reverse Auction

10.9.4.16. Annexure O (A) - Compliance Statement - Reverse Auction



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10.9.4.17. Annexure O (B) - Letter Of Authority For Participation In Reverse

Auction

10.9.4.18. Annexure O (C) - Undertaking of Process Compliance Statement

for Reverse Auction

10.9.4.19. Annexure P - Confidentiality / Non Disclosure Agreement

10.9.4.20. Annexure R - Undertaking By Bidder (to be submitted by both

Bidder and OEM/OSD)

10.9.4.21. Annexure S - Undertaking of information security (to be submitted

by both Bidder and OEM/OSD)

10.9.4.22. Photocopies of relevant documents / certificates as proof in

support of various information submitted online in aforesaid

annexure and other claims made by the bidder.

10.9.4.23. Detailed Architecture of the proposed solution with various

features/functions of the system/sub-system including fail-over

methodology/strategy at both Primary & DR Site.

10.9.4.24. The Bid should be signed by the authorized signatory of the

bidder. A power of attorney to that effect shall be submitted by

the bidders.

10.9.4.25. Documents and brochures pertaining to product that will be

deployed in the proposed solution.

10.9.4.26. Signed & Sealed copy of all the pages of RFP along with

corrigendum if any, is to be submitted along with the technical

bid.

10.9.5. The Bank reserves the right to resort to re-tendering without providing

any reason whatsoever. The Bank shall not incur any liability on account of

such rejection.

10.9.6. The Bank reserves the right to disqualify the bidder/(s) if bidder/(s) have

not completed any project/previous assignment successfully in Union Bank

of India in stipulated time i.e. supply, installation, implementation etc.

10.9.7. The Bank further reserves the right to reject any or all offers based on its

own evaluation of the offers received, or on the basis of stability,

capabilities, track records, reputation among users and other similar

features of a bidder.

10.9.8. The Bank reserves the right to modify any terms, conditions or

specifications of RFP before date of submission of bids. Bidder has to

submit bid documents as per the changes/modifications while submitting

the bid. Notification of amendments/corrigendum will be made available

on the Bank‟s website (www.unionbankofindia.co.in ) and will be binding

on all bidders and no separate communication will be issued. In order to

allow prospective bidders reasonable time in which to take the

amendment into account in preparing their bids, the Bank, at its


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discretion, may extend the deadline for a reasonable period as decided by

the Bank for the submission of bids. No post bid clarification of the bidder

shall be entertained.

10.10. Technical Bid Evaluation Criteria

The proposal submitted by the Bidders shall be evaluated on technical

grounds covering various components of the projects as follows:

10.10.1. Bidder‟s financial stability.

10.10.2. Methodology/Approach proposed for accomplishing the proposed

project.

10.10.3. Professional qualifications and experience of the key staff

proposed/ identified for this assignment.

10.10.4. Activities / tasks, project planning, resource planning, effort

estimate etc.

10.10.5. Matching the clear eligibility criteria.

10.10.6. Short-listing of the bidders based on the fully matched criteria.

10.10.7. Technical evaluation based on compliance to Technical and

functional requirements. The offered software solution must have

at least 75% of the functionalities as provided in “Annexure E (A) –

Solution Specification / Functional Requirement for evaluation” in

the Available (A) or Customizable (C) category. Bids where the

proposed solution does not have 75% of the functionalities in the

Available (A) plus Customizable (C) category shall be liable to be

rejected.

The technical bid would be rated on a total score of 4520 as per Annexure E (A) - Solution Specification / Functional Requirement for evaluation and the ranking of technical score would be derived for each bidder. Marks will be allotted to bidder against the responses to each of the point mentioned as per the following marking pattern:

Marks Description

10 A - Available

5 C - Customizable

0 N - Not Available

10.10.8. As a part of Technical evaluation, bidder will have to carry out

Proof of Concept (PoC) on Bank's private cloud environment for


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demonstration / testing as per Bank‟s requirement. The bid will be

short listed for further evaluation on successful

PoC/presentation/site visit. In case proposed solution is same as

proposed to Bank in previous floating of this RFP, Bank may waive

off POC for those bidders.

10.10.9. Paper evaluation based on response.

At the sole discretion and determination of the Bank, the Bank may add any

other relevant criteria for evaluating the proposals received in response to

this RFP.

10.11. Indicative commercial offer

The Indicative commercial offer must not contradict the Technical offer in

any way and should include the indicative cost of all the items offered. The

suggested directive for Commercial offer is as follows:

10.11.1. The Indicative Commercial Offer should be submitted online at the e-

Procurement site https://ubi.abcprocure.com as per Annexure F(A) by

way of entering the values at the site. This must contain all prices.

10.11.2. The vendors should not offer any options or any conditional offers to

the Bank while giving the price information. The offer should strictly

be in conformity with the items as specified by the Bank. No additions

or deletions to the Annexure are allowed. Any deviations may lead to

disqualification of the bid.

10.12. Commercial Evaluation Process through Reverse Auction

10.12.1. For finalization of the most competitive offer, the Bank will conduct

„Reverse auction‟. The detailed procedure and Business rules for the

Reverse auction is given as per Annexure-O and are also available on

Bank‟s web site.

10.12.2. The technically qualified bidders will participate in the Reverse auction

process that will be conducted by an Auction company authorized by

the Bank. Specific rules for this particular event viz. date and time,

start price, bid decrement value, duration of event etc. shall be

informed by the Auction Company to the participating bidders before

the event. The bidders should furnish indicative prices for the project

in their Indicative Commercial Bid to facilitate finalizing the start bid

for „Reverse auction‟ under E-Procurement process.

10.12.3. The lowest Indicative commercial offers (total cost) may be taken as


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the starting bid of the Reverse Auction and not for deciding the L-1

status. Bidders should note that the indicative commercial bid is

considered for the purpose of conducting „Reverse auction process

only. The L-1 bidder will be decided only later, on finalization of prices

through Reverse auction.

10.12.4. The L-1 bidder emerging at the end of the Reverse Auction process

shall be required to submit the break-up of Final price (last bid price)

again in Annexure-F (A). Failure or refusal to offer the services/goods

at the price committed through Reverse Auction shall result in forfeit

of the EMD to Bank, which please be noted.

10.12.5. The final decision on the bidder will be taken by Union Bank of India.

Union Bank reserves the right to reject any or all proposals. Similarly,

it reserves the right not to include any bidder in the final short-list.

10.12.6. The Bank shall follow all the guidelines/notifications for public

procurement.

10.13. Rules for Re-Reverse Auction

10.13.1. Bank may consider the option of a Re-reverse Auction in following

circumstances:

10.13.2. During the process of reverse auctions, if there is either no bids from

logged in bidders or only one bidder puts up bid/s, Bank may decide a

re-reverse auction by taking fresh Indicative prices from all qualified

bidders in sealed cover only, to amend the start price for Re-reverse

auction.

10.13.3. In case the start price for the Reverse Auction event is decided by Bank

and there are no bids or only one bid/s by a single bidder in the

Reverse Auction, Bank may decide Re-reverse Auction while further

amending the start price.

10.13.4. Reverse auction will be valid only if two or more bidders are

participating in the reverse auction event.

10.13.5. In all the above circumstances, the functional head of the department

may take a decision on re-reverse auction.

10.14. RFP Clarifications

Queries/clarifications will not be entertained over the phone. All queries

and clarifications must be sought in writing or sent to


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[email protected], [email protected] and

[email protected] with subject “RFP for Procurement of

Solution for Implementation of Indian Accounting Standards.” as per the

date given in the schedule of events of this RFP document.

The Bidder is requested to collate and submit queries together to seek

clarifications / responses from Bank. The Bidder should ensure that all the

queries and clarifications are communicated in writing on or before the date

given in the schedule of events of this RFP document. Bidders are requested

to visit our Banks website/e-Procurement site for clarifications and other

communications.

10.15. Other Terms and Conditions of RFP

10.15.1. The solution will be deemed accepted only after successful pilot run and

sign off from Bank‟s identified Project Manager. Responses to this RFP

should not be construed as an obligation on the part of the Bank to

award a purchase contract for any services or combination of services.

Failure of the Bank to select a bidder shall not result in any claim

whatsoever against the Bank. The Bank reserves the right to reject any

or all bids in part or in full, without assigning any reason whatsoever.

10.15.2. By submitting a proposal, the successful bidder agrees to promptly

contract with the Bank for any work awarded to the successful bidder.

Failure on the part of the awarded bidder to execute a valid contract

with the Bank will relieve the Bank of any obligation to the bidder, and a

different bidder may be selected based on the selection process.

10.15.3. The terms and conditions as specified in the RFP and corrigendum (if

any) thereafter are final and binding on the bidders. In the event the

bidder is not willing to accept the terms and conditions of the Bank, the

bidder may be disqualified. Any additional or different terms and

conditions proposed by the bidder would be rejected unless expressly

agreed to in writing to the Bank and accepted by the Bank in writing.

10.15.4. The successful bidder must strictly adhere to the delivery dates or lead

times identified in their proposal. Failure to meet these delivery dates,

unless it is due to reasons entirely attributable to the Bank, may

constitute a material breach of the successful bidder‟s performance. In

the event that the Bank is forced to cancel an awarded contract

(relative to this tender document) due to the successful bidder‟s

inability to meet the established delivery dates or any other reasons

attributing to the successful bidder then, that bidder will be responsible

for any re-procurement costs suffered by the Bank. The liability in such

an event could be limited to the differential excess amount spent by the

Bank for procuring similar deliverables and services.


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10.15.5. The bidder shall represent and acknowledge to the Bank that it possesses

necessary experience, expertise and ability to undertake and fulfill its

obligations, involved in the performance of the provisions of this RFP.

The bidder represents that the solution to be supplied in response to this

RFP shall meet the proposed bidders requirement. If any services,

functions or responsibilities not specifically described in this RFP are an

inherent, necessary or customary part of the deliverables or services and

are required for proper performance or provision of the deliverables or

services in accordance with this RFP, they shall be deemed to be

included within the scope of the deliverables or services, as if such

services, functions or responsibilities were specifically required and

described in this RFP and shall be provided by the bidder at no

additional cost to the Bank. The bidder also acknowledges that the Bank

relies on this statement of fact, therefore neither accepting

responsibility for, nor relieving the bidder of responsibility for the

performance of all provisions and terms and conditions of this RFP, the

Bank expects the bidder to fulfill all the terms and conditions of this

RFP. The modifications, which are accepted by the Bank, shall form a

part of the final contract.

10.15.6. All terms and conditions, payments schedules, time frame for expected

service levels as per this tender will remain unchanged unless explicitly

communicated by the Bank in writing to the bidder. The Bank shall not

be responsible for any judgments made by the bidder with respect to

any aspect of the Service. The bidder shall at no point be entitled to

excuse themselves from any claims by the Bank whatsoever for their

deviations in confirming to the terms and conditions, payments

schedules, expected service levels etc. as mentioned in this tender

document.

10.15.7. The Bank and the bidder covenants and represents to the other Party the

following:

10.15.7.1. It is duly incorporated, validly existing and in good standing under

as per the laws of the state in which such Party is incorporated.

10.15.7.2. It has the corporate power and authority to enter into Agreements

and perform its obligations there under. The execution, delivery

and performance of terms and conditions under Agreements by such

Party and the performance of its obligations there under are duly

authorized and approved by all necessary action and no other

action on the part of such Party is necessary to authorize the

execution, delivery and performance under an Agreement.

10.15.7.3. The execution, delivery and performance under an Agreement by

such Party:


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10.15.7.3.1. Will not violate or contravene any provision of its documents

of incorporation;

10.15.7.3.2. Will not violate or contravene any law, statute, rule,

regulation, licensing requirement, order, writ, injunction or

decree of any court, governmental instrumentality or other

regulatory, governmental or public body, agency or authority

by which it is bound or by which any of its properties or assets

are bound;

10.15.7.3.3. Except to the extent that the same have been duly and

properly completed or obtained, will not require any filing

with, or permit, consent or approval of or license from, or the

giving of any notice to, any court, governmental

instrumentality or other regulatory, governmental or public

body, agency or authority, joint venture party, or any other

entity or person whatsoever;

10.15.8. To the best of its knowledge, after reasonable investigation, no

representation or warranty by such Party in this Agreement, and no

document furnished or to be furnished to the other Party to this

Agreement, or in connection herewith or with the transactions

contemplated hereby, contains or will contain any untrue or misleading

statement or omits or will omit any fact necessary to make the

statements contained herein or therein, in light of the circumstances

under which made, not misleading. There have been no events or

transactions, or facts or information which has come to, or upon

reasonable diligence, should have come to the attention of such Party

and which have not been disclosed herein or in a schedule hereto,

having a direct impact on the transactions contemplated hereunder.

10.15.9. The Bank would not assume any expenses incurred by the bidder in

preparation of the response to this RFP and also would not return the

bid documents to the Bidders.

10.15.10. The Bank will not bear any costs incurred by the bidder for any

discussion, presentation, demonstrations etc. on proposals or proposed

contract or for any work performed in connection therewith.

10.15.11. This tender document may undergo change by either additions or

deletions or modifications before the last date and time of submission

by the Bank. The Bank also reserves the right to change any terms and

conditions including eligibility criteria of the tender document and its

subsequent addendums as it deems necessary at its sole discretion. The

addendums, if any, shall be published on Bank‟s website only.


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10.15.12. The Bank reserves the right to extend the dates for submission of

responses to this document.

10.15.13. Bidders shall have the opportunity to clarify doubts pertaining to the

tender document, prior to finalizing their responses. All responses to

be submitted as per Bid query format in Annexure Q. Responses to

inquiries and any other corrections and amendments will be published

on Bank‟s website in the form of addendum to tender document. The

bidder, who posed the question, will remain anonymous. 10.15.14. Preliminary Scrutiny – The Bank will scrutinize the offers to determine

whether they are complete, whether any errors have been made in the

offer, whether required technical documentation has been furnished,

whether the documents have been properly signed, and whether items

are quoted as per the schedule. The Bank may, at its discretion, waive

any minor non-conformity or any minor deficiency in an offer. This

shall be binding on all bidders and the Bank reserves the right for such

waivers and the Bank‟s decision in the matter will be final.

10.15.15. No Commitment to Accept Lowest bid or Any Tender – The Bank shall

be under no obligation to accept the lowest price bid or any other offer

received in response to this Tender notice and shall be entitled to

reject any or all offers including those received late or incomplete

offers without assigning any reason whatsoever. The Bank reserves the

right to make any changes in the terms and conditions of purchase. The

Bank will not be obliged to meet and have discussions with any Bidder,

and / or to listen to any representations unless there is change in the

terms and conditions of purchase.

10.15.16. Erasures or Alterations – The offers containing erasures or alterations

will not be considered. There should be no hand-written material,

corrections or alterations in the offer. Technical details must be

completely filled up. Correct technical information of the product

being offered must be filled in. Filling up of the information using

terms such as “OK”, “accepted”, “noted”, “as given in

brochure/manual” is not acceptable. The Bank may treat the offers not

adhering to these guidelines as unacceptable. 10.15.17. If the Bank is not satisfied with the technical specifications as specified

in the tender document and observes major deviations, the technical

bids of such bidders will not be short-listed for further evaluation. No

further discussions shall be entertained with such bidders in respect of

the subject technical bid.

10.15.18. There will be an acceptance test by the Bank or its nominated

consultants after implementation of the solution. In case of


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discrepancy in solution implemented, the Bank reserves the right to

cancel the entire purchase contract and the bidder should take back

their deliverables at their costs and risks. The test will be arranged by

the bidder at the sites in the presence of the officials of the Bank and /

or its consultants.

10.15.19. Undertaking on Information Security (Annexure S) - The Bidder should

furnish a letter both from the Original Solution Developer / Original

Equipment Manufacturer (wherever applicable) and also from the

Bidder‟s end providing an undertaking on Information Security of

Authenticity and also the solution supplied. This undertaking from OSD

/ OEM and the bidder is on Information security as per regulatory

requirement.

10.15.20. The Bidder shall solely be responsible for all payments (including any

statutory payments) to its employees and shall ensure that at no time

shall its employees, personnel or agents hold themselves out as

employees or agents of the Bank, nor seek to be treated as employees

of the Bank for any purpose, including claims of entitlement to fringe

benefits provided by the Bank, or for any kind of income or benefits.

The Bidder alone shall file all applicable tax returns for all of its

personnel assigned hereunder in a manner consistent with its status as

an independent contractor of services; and the Bidder will make all

required payments and deposits of taxes in a timely manner.

10.15.21. The price payable to the Bidder shall be inclusive of carrying out any

modifications changes / upgrades to the application and other software

that is required to be made in order to comply with any statutory or

regulatory requirements or any industry-wide changes arising during

the subsistence of the contract/ agreement, and the Bank shall not pay

any additional cost for the same. The Bidder needs to provide with the

details about all such items considered in the RFP.

10.16. Technical Bid Evaluation

10.16.1. During the period of evaluation, bidders may be asked to provide more

details and explanations about information provided in the proposals.

Bidders should respond to such requests within the time frame

indicated in the letter/e-mail seeking explanation. If any part of the

technical specification offered by the bidder is different from the

specifications sought in our RFP, the bidder has to substantiate the

same in detail the reason of their quoting a different specification than

what is sought for, like higher version or non availability of the

specifications quoted by us, invariably to process the technical offer.


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10.16.2. Setting of evaluation criteria for selection purposes shall be entirely at

the discretion of the Bank. The decision of the bank in this regard shall

be final and no correspondence shall be entertained in this regard.

10.16.3. The Bank may, at its discretion, waive any minor informality,

nonconformity, or irregularity in a bid which does not constitute a

material deviation and financial impact, provided such waiver does not

prejudice or affect the relative ranking of any bidder. Wherever

necessary, observations on such „minor‟ issues (as mentioned above)

Bank may be conveyed to the bidder, asking them to respond by a

specified date also mentioning therein that, if the bidder does not

respond by the specified date, their bid will be liable to be rejected.

10.16.4. As a part of Technical evaluation, bidder will have to carry out Proof of

Concept (PoC) on Bank's private cloud environment for demonstration /

testing as per Bank‟s requirement. The bid will be short listed for

further evaluation on successful PoC/presentation/site visit. In case

proposed solution is same as proposed to Bank in previous floating of

this RFP, Bank may waive off POC for those bidders.

On the basis of technical evaluation, the Bank shall take a decision for

short listing of the bidders for Commercial Evaluation. If the technical

evaluation is not found to be satisfactory, further evaluation will not be

done. No separate information will be sent to the disqualified bidders.

Any decision of the BANK in this regard shall be final, conclusive and

binding on the bidder.

10.17. Award of contract

10.17.1. On completion of evaluation of commercial bids, Bank will determine

the L1 bidder and contract will be awarded to lowest bidder after

reverse auction process as per Annexure O.

10.18. Price Composition

10.18.1. The price quoted should be inclusive of Cost of deliverables,

Enterprise License, installation, customization, maintenance and

support of Software for Implementation of Indian Accounting

Standards as per Bank‟s requirement.

10.18.2. TCO is for five years including one year warranty, four years ATS for

post warranty period of one year from the date of go-

live/implementation.

10.18.3. The commercial bid should be quoted in the indicative commercial

bid form attached to this bid.


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10.18.4. Bank will not pay any Labour charges for transportation, Lodging,

Road Permit, incidental services, installation & commissioning

separately. All such costs, if any, should be absorbed in the TCO.

10.18.5. The prices should be firm and not dependent on any variable factors

and expressed in Indian Rupees.

10.18.6. The Total cost should be exclusive of all applicable taxes and duties,

GST (SGST, CGST & IGST) and will be payable in actual on the date

of invoicing.

10.18.7. If the cost for any line item is indicated as zero/nil/blank then it will

be assumed by the Bank that the said item is provided to the Bank

without any cost.

10.18.8. The Bidder shall be liable to pay all applicable corporate taxes and

income tax that shall be levied according to the laws and regulations

applicable from time to time.

10.18.9. Wherever the laws and regulations require deduction of such taxes

at the source of payment, Purchaser shall effect such deductions

from the payment due to the Bidder. The remittance of amounts so

deducted and issuance of certificate for such deductions shall be

made by Purchaser as per the laws and regulations in force. Nothing

in the Contract shall relieve the Bidder from his responsibility to pay

any tax that may be levied in India on income and profits made by

the Bidder in respect of this Contract.

10.18.10. Arithmetical errors will be rectified on the following basis:

a) If there is a discrepancy between the unit price and the total

price that is obtained by multiplying the unit price and

quantity, the unit price shall prevail and the total price shall

be corrected.

b) If there is a discrepancy between words and figures, the amount in words will prevail.

c) If the bidder does not accept the error-correction, its bid will

be rejected, and its bid security i.e. Earnest Money Deposit

(EMD) will be forfeited.

11. Onsite development, support & maintenance Resource

11.1. The bidder has to provide at least two onsite technical resources as desired

by bank for a period of two years post go-live. The cost agreed upon for the


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resource will be frozen for a minimum period of 5 years and purchase order

will be issued every year based on the requirement of the Bank.

11.2. During the assignment substitution of resources shall not be allowed unless

such substitution becomes unavoidable to overcome the undue delay or that

such changes are critical to meet obligation. In such circumstances vendor

can do so only with the concurrence of the bank by Giving sufficient

intimation / notice and by providing alternate staff of equivalent/higher

competency. If bank is not satisfied with substitution, bank reserve the right

to terminate the onsite contract and recover whatever payments made by the

bank to the vendor during the course of the assignment besides claiming an

amount, equal to onsite contract value as liquidated damages.

11.3. Bank may take additional resource/s as per frozen price through this tender

process. As the TCO is for 2 onsite resources, cost of one onsite resource will

be derived proportionately from the TCO of successful bidder.

11.4. The technical resources should be competent to handle/ develop/ Integrate/

Implement/ Test/ Go Live with the Apps on the proposed platform within

Bank‟s stipulated time. Onsite resources are expected to perform

development, testing, UAT, preparation of test cases, support, monitoring,

certification, implementation, reporting, coordination with banks team/s,

Audit compliance, IT industry best practices/VAPT closures, vulnerability

assessment , any other statutory compliance, Patch Installation, fixes,

analytics, fraud risk/rule management & monitoring, day to day MIS reports,

Regulatory reports, conducting DR Drill, Database support, backup/restore,

online replication with zero lag and post Go-live support. These activities are

illustrative and the details will be shared with successful bidder. Bank

reserves the right to claim change in resource based on the performance of

the resources.

11.5. Implementation team of the bidder should be well versed with the product

features and functionalities available in the product. All the available

functionalities should be properly demonstrated to the Bank‟s team and

configured in such a manner so as to ensure optimal utilization of all the

available product features.

11.6. The bidder shall propose Support & Subscription services from the OEM with

unlimited number of support requests, remote support, access to product

updates/upgrades and 24x7 supports as per response time matrix.

11.7. The bidder shall propose Plan & Design/Architecture services from the OEM.

The OEM shall conduct a health-check of the deployed solution and submit a

report indicating compliance to reference architecture and best practices.


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11.8. Detailed process documentation, SOP (Standard operating procedure) and

management of solution should be created and submitted before project

signoff.

11.9. The onsite resources must have degree of B.E/B.Tech/MCA (IT/Computer

Science) and with minimum 1 year experience on the solution/product

provided to Bank under this RFP.

11.10. Selected bidder is expected to deploy academically good, technically sound

and competent personnel to ensure smooth operations at bank‟s site. The

deputed personnel will be employed by the selected bidder on their

payrolls/contracts without having any employment right with the bank.

Moreover deployed personnel will not have any right whatsoever to lodge

claim of any nature directly or indirectly with the bank and it would be

responsibility of selected bidder to address such issues without involving the

bank. The deputed persons have to maintain the utmost secrecy &

confidentiality of the bank‟s data including process performed at the Bank

premises. At any time, if it comes to the notice of the bank that data has

been compromised/ disclosed/ misused/ misappropriated then bank would

take suitable action as deemed fit and selected vendor would be required to

compensate the bank to the fullest extent of loss incurred by the bank.

Bidder is expected to adhere Bank‟s request for removal of any personnel, if

bank notices any negligence/gross misconduct/violation of trade

secret/disclosure of bank‟s data to third party and any decision of the bank in

this regard would be final and binding upon the selected vendor.

11.11. Bidder has to agree and provide undertaking not to disclose any Bank

information and will maintain confidentiality of Bank information as per

policy of the Bank and will sign “Non Disclosure Agreement” document

provided in Annexure – P

11.12. The Bidder also has to agree and submit an undertaking that during the

subsistence of this agreement it will not employ any personnel/individual

below the Minimum Wages fixed by appropriate Government on this behalf

from time to time, as per the provision of Minimum Wages Act 1948.

11.13. Resources should be available at bank‟s site from 8:00AM to 10:00 PM on a six

Day working basis. However, in case of business requirements, vendor may be

asked to depute the resources beyond the above stipulated time. The timing

may be changed at bank‟s discretion. However, during the implementation

phase, testing, planned activity and emergency period, resources may have to

work 24x7 depending upon the Bank requirement. Payment will be released

monthly basis in arrears against invoice raised and after verification with

attendance register maintained in Bank.


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12. Rejection of Bid

The Bid is liable to be rejected if:

12.1. The document does not bear signature of authorized person in each page

and duly stamp.

12.2. It is received through Fax/E-mail/dropped in tender box.

12.3. Incomplete Bids, including non-submission or non-furnishing of requisite

documents / Conditional Bids / Bids not conforming to the terms and

conditions stipulated in this Request for proposal (RFP) are liable for

rejection by the Bank.

12.4. It is evasive or contains incorrect information.

12.5. Any form of canvassing / lobbying /influence/ query regarding short

listing, status etc. will be a disqualification.

12.6. Bidder should comply with all the points mentioned in the scope of work.

Noncompliance of any point will lead to rejection of the bid.

12.7. Non submission of RFP cost, bid security/EMD and Integrity Pact signed by

authorized signatory in physical form.

13. Pre-Bid Meeting

For the purpose of clarifications of doubts of the bidders on issues related to

the RFP, Bank intends to hold a pre bid meeting on the date & time as

indicated in the RFP. It may be noted that no query of any bidder shall be

entertained / received after the mentioned date. Queries raised by the

prospective bidders and the Bank‟s response will be available at Bank‟s web

site. Only authorized representative of bidder (maximum two) will be allowed to

attend the Pre-bid meeting.

Non- attendance at the Pre-bid Meeting will not be a cause for disqualification of

a bidder.

Any modification of the RFP, which may become necessary as a result of the

Pre- bid Meeting, shall be made available by the Bank exclusively through the

issue of an Corrigendum on Bank‟s website www.unionbankofindia.co.in, or

government portal eprocure.gov.in or e-Procurement site

https://ubi.abcprocure.com.

14. RFP Response

All submissions will become the property of Bank. Recipients shall be deemed to

license, and grant all rights to, Bank to reproduce the whole or any portion of

their submission for the purpose of evaluation, to disclose the contents of the

submission to other Recipients who have registered a submission and to disclose

and/or use the contents of the submission as the basis for any resulting RFP

process, notwithstanding any copyright or other intellectual property right that

may subsist in the submission or Banking documents.

http://www.unionbankofindia.co.in/



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Bid properly documented should be submitted by uploading at https://ubi.abcprocure.com on or before stipulated date & time mentioned in the RFP.

15. Modification and Withdrawals of Bid

No bid can be modified or withdrawn by the bidder subsequent to the last date

and time for submission of bids. In the event of withdrawal of the bid by bidders,

the EMD will not be refunded by the Bank.

16. Liquidated Damage (LD)

If Successful bidder fails to deliver any or all of the Service(s) / Systems or perform

the Services within the time period(s) specified in the RFP/Contract / Agreement,

Bank shall, without prejudice to its other rights and remedies under and in

accordance with the RFP/Contract / Agreement, levy Liquidated Damages (LD) from

payments due to the Successful bidder.

For calculation of LD:

16.1. The contract price for calculation of LD is TCO excluding ATS charges and

on-site support charges.

16.2. Should be able to deliver and install the software solution within 6

months from the date of purchase order. For late delivery the LD clause

would be applicable @1 % of the value of purchase order exclusive of ATS

and onsite support charges per week or part thereof subject to a

maximum of 10%.

16.3. LD for delay in completion of the Service(s) for each week of delay

beyond the scheduled completion date or part thereof will be a sum

equivalent to 1% of the value of purchase order exclusive of ATS and

onsite support charges per week. In case of undue delay beyond a period

of 15 days after attaining the maximum penalty of 10% during

implementation, Bank may consider termination of the contract or

purchase order.

16.4. Part of week will be considered as full week.

16.5. Bank can deduct the amount of liquidated damages from the payment

due of the same project from the Successful bidder. Bank may also

withhold the amount to be recovered from the payment due from other

projects held by the same bidder.

16.6. Any such recovery or liquidated damages shall not in any way relieve the

Successful bidder from any of its obligations to complete the works /

service(s) or from any other obligations and liabilities under the

Contract/Agreement/Purchase Order.

16.7. Bank reserves the right to condone the delay, if it is not attributable to

the Successful bidder.



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17. Warranty

17.1. All support & services required for implementation, customization, smooth

operation and maintenance of proposed Solution, as described in RFP, will

be the part of the project deliverables during the contract period (under

warranty or post warranty).

17.2. The warranty would be on-site and comprehensive in nature. Warranty will

start from the date of full go- live/implementation and will be valid for a

period of one year. The successful bidder shall provide maintenance and

support under warranty, without any extra cost. Warranty for software will

start from the date of final signoff (go-live) of the Bank. Bank will not pay

any charges during warranty period.

17.3. Any corruption in the software or media or any services shall be rectified

during the full period of the contract including warranty, if contracted, at

no extra cost to the Bank.

17.4. The executions of the service(s) herein is and shall be strictly in accordance

and in compliance with all Applicable Laws, as amended from time to time,

the regulatory framework governing the same and the Good Industry

Practice. It has all permissions, consents, approvals and license from all

authorities, regulatory /statutory and non-regulatory, for executing the

Service(s).

17.5. The successful bidder warrants that Deliverables and the Services provided

by the successful bidder shall be as per the terms of this Agreement. The

successful bidder should guarantee that the software supplied to the Bank is

licensed and legally obtained. Software must be supplied with their original

and complete printed documentation. The successful bidder shall be fully

responsible for warranty of all the system components in respect of proper

design, quality, material and workmanship of the software, accessories etc.

covered by the offer.

18. Contract Period

The contract period for Implementation of required solution will be initially for a

period of 5 years support from the date of go-live/implementation with the

selected bidder including one year warranty and four years Annual Technical

Support post warranty. However, if the Bank desires, it must be agreeable to the

selected bidder to provide Annual Technical Support for Application software for

the next three years after expiry of the contract period on mutually agreed terms

and will be renewed on yearly basis. Bank reserves the right to extend the contract

for further period of three years at mutually agreed terms.

The successful bidder shall execute (a) a Service Level Agreement (SLA), which


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would include all the services and terms and conditions of the services to be

extended as detailed herein and any other conditions as may be prescribed by the

Bank; and (b) Non-disclosure Agreement (NDA). The bidder shall execute the SLA

and NDA within one month from the date of issuance of purchase order. The

contract shall be executed by the authorized signatory of the bidder. A power of

attorney to that effect shall be submitted by the successful bidders.

SLA will cover performance and availability of the solution deployed. The Bidder

shall bear entirely and exclusively all costs (whether in term of time or money)

associated with the preparation and submission of its Bid and the Bank will in no

case be held responsible or liable for these costs regardless of the conduct or

outcome of the bid process including but not limited to

cancellation/abandonment/annulment of the bidding process.

19. Annual Technical Support Agreement

After expiry of the one year after go-live/implementation/post warranty period,

the Bank may enter into a contract with the successful bidder for Post Warranty

ATS Support required for proper maintenance of the Software solution

supplied/implemented by them. The successful bidder must undertake to provide

support for the software for minimum post warranty period of four (4) years.

The ATS charges shall be released to the vendor quarterly in advance subject to

timely submission of applicable documents like invoice, performance availability

reports etc.

Any regulatory /statutory changes or updates or guidelines as required under the

directive of Government of India, Reserve Bank of India or any other

regulatory/statutory authority must be provided/ upgraded to the Bank free of

cost by Bidder during warranty or ATS tenure.

The Bank reserves the right to enter into Technical Support (ATS) with the selected

bidder for four years or more subject to renewal of every year.

The Bank reserves the right to terminate the ATS (if contracted) by giving

Successful Bidder, a prior and written notice of one month indicating its intention

to terminate the Contract, if the services rendered by the vendor(s) are not

satisfactory. In that case, the vendor(s) will refund the proportionate amount of

ATS for the rest of the period of the ATS, if any.

Not following all that is mentioned above, the Bank reserves the right to outsource

the software maintenance work to a third party or the bank may decide to perform

the same through its internal resources. Whatever the case may be (either third-

party maintenance or maintenance through internal resources), the vendor(s) shall

provide requisite maintenance training, technical know-how, and expert assistance

to the persons and/or agencies, duly authorized by the Bank for this purpose with


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no extra cost to bank.

Any decision in this regard by the Bank shall be final, conclusive and binding on the

selected Bidder and shall not be questioned/ challenged by the selected Bidder.

20. Adherence of cyber security policy

Bidders are liable for not meeting the security standards or desired security

aspects of all the ICT resources as per Bank's IT/Information Security / Cyber

Security Policy. The IT /Information Security/ Cyber Security Policy will be shared

with successful bidder. Bidders should ensure Data Security and protection of

facilities/application managed by them.

The deputed persons should aware about Bank‟s IT/IS/Cyber security policy and

have to maintain the utmost secrecy & confidentiality of the bank‟s data including

process performed at the Bank premises. At any time, if it comes to the notice of

the bank that data has been compromised/disclosed/misused/misappropriated

then bank would take suitable action as deemed fit and selected vendor would be

required to compensate the bank to the fullest extent of loss incurred by the bank.

Bidder has to agree and provide undertaking not to disclose any Bank information

and will maintain confidentiality of Bank information as per policy of the Bank and

will sign “Non-Disclosure Agreement” document provided by Bank.

The legal and regulatory requirements, including data protection, intellectual

property rights, copy right, all the relevant regulations for sub-contracting;

including the controls that need to be implemented shall be included in the

supplier agreement.

All information resources (online/in-person) of the vendors and its partners shall

be made accessible to Reserve Bank of India as and when sought.

Credentials of vendor/third party personnel accessing and managing the bank‟s

critical assets shall be maintained and shall be accordance with Bank‟s policy.

The Bank shall evaluate, assess, approve, review, control and monitor the risks and

materiality of vendor/outsourcing activities and bidder shall ensure to support

baseline system security configuration standards. The Bank shall also conduct

effective due diligence, oversight and management of third party vendors/service

providers & partners.

Vendor criticality assessment shall be conducted for all partners & vendors.

Appropriate management and assurance on security risks in outsources and partner

arrangements shall be ensured.


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21. Patent Rights

In the event of any claim asserted by a third party of infringement of

copyright, patent, trademark, industrial design rights, etc. arising from the

use of the procurement of this RFP or any part/component thereof in India,

the supplier shall act expeditiously to extinguish such claim. If the Supplier

fails to comply and the Bank is required to pay compensation to a third

party resulting from such infringement, the supplier shall be responsible for

the compensation including all expenses, court costs and lawyer fees. Bank will

give notice to the supplier of such claim, if it is made, without any delay.

22. Price Validity

Prices payable to the successful bidder as stated in the Contract shall be firm

and not subject to any changes at any circumstances during the contract

period of five years. The Total cost should be exclusive of all applicable taxes,

GST (SGST, CGST & IGST) and will be payable in actual on the date of invoicing.

23. Payment Terms

23.1. The terms of payment will be as follows:

a. No advance payment against purchase order.

b. Payment will be made on the following basis:

23.2. Amount for Annual Technical Support (ATS) and onsite facility management:

The ATS rate for the Application shall be valid for the period of 4 years post Warranty. Warranty period starts after Go-Live of Solution.

a. ATS will be paid quarterly in advance against PBG.

b. Onsite resource Engineers cost will be paid monthly in arrears.

S.N. Milestone Payment

1 SRS (System Requirement Specification) Sign-Off for solution to be developed by bidder as per requirements mentioned

10%

2 Installation, configuration, integration and customization of Ind AS for UAT/ development

20%

3 On UAT signoff of proposed Solution 20%

4 Go Live 30%

5 After 3 months of Successful Go live Setup and Go Live DR Site.

10%

6 After a period of one year from Go live or against furnishing a performance Bank Guarantee of a scheduled commercial Bank (other than Union Bank of India) for the cost of TCO.

10%

Total 100%


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Further, additional software customizations and enhancements that would be provided based on future requirements at additional costs shall not attract ATS / AMC to the Bank.

24. Authorized Signatory

The selected bidder shall indicate the authorized signatories who can discuss and

correspond with the BANK, with regard to the obligations under the contract. The

selected bidder shall submit at the time of signing the contract a certified copy of

the resolution of their board, authenticated by the company secretary, authorizing

an official or officials of the bidder to discuss, sign agreements/contracts with the

BANK, raise invoice and accept payments and also to correspond. The bidder shall

provide proof of signature identification for the above purposes as required by the

BANK.

25. Limitation of liability

Vendor‟s aggregate liability for actual direct damages shall be limited to a

maximum of the Contract Value, provided that this limit shall not apply to

following:

25.1. The infringement indemnity; or

25.2. Bodily injury (including death) and damage to real property and tangible personal property caused by Vendor‟s negligence.

25.3. For the purposes of this Section, “Contract Value” at any given point in

time, means the aggregate value of purchase orders placed by Bank on

the Vendor under this project. Due to any wrong coding / breach of

system / bugs in customization/configuration / development /testing &

lapses in support, the selected bidder is liable to pay the financial losses

incurred to the Bank.

26. Confidentiality

The bidder must undertake that they shall hold in trust any Information

received by them, under the Contract/Agreement, and the strictest of

confidence shall be maintained in respect of such Information. The bidder has

also to agree:

26.1. To maintain and use the Information only for the purposes of the

Contract/Agreement and only as permitted by the BANK;

26.2. To only make copies as specifically authorized by the prior written consent

of the Bank and with the same confidential or proprietary notices as may

be printed or displayed on the original;

26.3. To restrict access and disclosure of Information to such of their

employees, agents, strictly on a "need to know" basis, to maintain


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confidentiality of the Information disclosed to them in accordance with

this Clause and

26.4. To treat all Information as Confidential Information.

26.5. The Selected Bidder shall be required to sign a Non Disclosure Agreement

with Bank as per prescribed format provided in Annexure P within thirty

days of issuing the order/letter of intent.

27. Indemnity

27.1. Bidder on submission of proposal indemnifies to protect and save the Bank

and hold the Bank harmless from and against all claims, losses, costs,

damages, expenses, action suits and other proceedings, (including

reasonable attorney fees), relating to or resulting directly or indirectly from

27.1.1. an act or omission of the Bidder, its employees, its agents, or

employees of the consortium in the performance of the services

provided by this contract,

27.1.2. breach of any of the terms of this RFP or breach of any representation

or warranty by the Bidder,

27.1.3. use of the deliverables and or services provided by the Bidder,

27.1.4. Infringement of any patent trademarks copyrights etc. or such other

statutory infringements in respect of all components provided to fulfill

the scope of this project. Bidder shall further indemnify the Bank against

any loss or damage to the Bank's premises or property, Bank's data,

direct financial loss, loss of life, etc., due to the acts of the Bidder's

employees or representatives. The Bidder shall further indemnify the

Bank against any loss or damage arising out of loss of data, claims of

infringement of third- party copyright, patents, or other intellectual

property, and third-party claims on the Bank for malfunctioning of the

equipment or software or deliverables at all points of time, provided

however,

27.1.4.1. The Bank notifies the bidder in writing in a reasonable time frame on

being aware of such claim,

27.1.4.2. The Bidder has sole control of defense and all related settlement

negotiations,

27.1.4.3. The Bank provides the Bidder with the assistance, information and

authority as it deems fit to perform the above.

27.2. It is clarified that the bidder shall in no event enter into a settlement,

compromise or makes any statement (including failure to take appropriate

steps) that may be detrimental to the Bank's (and/or its customers, users and

service providers) rights, interest and reputation.

27.3. Bidder shall be responsible for any loss of data, loss of life, etc, due to acts

of Bidder's representatives, and not just arising out of gross negligence or


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misconduct, etc, as such liabilities pose significant risk.

27.4. Bidder should take full responsibility for its and its employee's actions.

Further, since the Bank's data could be integrated / used under Bidder

provided software, the Bidder should be responsible for loss/compromise or

damage to Bank's data and for causing reputation risk to bank.

27.5. The bidders should indemnify the Bank (including its employees, directors or

representatives) from and against claims, losses, liabilities, penalties, fines

and suits arising from:

27.5.1. Non-compliance of the bidder with Laws/Governmental/regulatory

Requirements

27.5.2. IP infringement under any laws including Copyrights Act 1957 & IT Act

2000 and such other statutory acts and amendments thereto.

27.5.3. Negligence and misconduct of the Bidder, its employees, and agents.

27.5.4. Breach of any terms of RFP, Representation or Warranty.

27.5.5. Act or omission in performance of service.

27.5.6. Loss of data due to any of the reasons mentioned above.

27.6. In the event that the Bank is called as a defendant for IPR infringement of

patent, trademark or industrial design rights arising from use of any of the

components of the supplied solution, the Bidder on its own expense will

undertake to defend the Bank.

27.7. It will be the Bidder's responsibility to rapidly do away with such third-party

claims. The Bidder will also pay any compensation arising from the

infringement claims and the Bank will in no manner be responsible for such

payments. In addition, the Bidder will bear all the related expenses and legal

fees.

27.8. On its part, the Bank will immediately relay to the Bidder any such claims

and offer assistance within reasonable limits to rid the claim.

27.9. The Bidder must undertake to indemnify that all the components delivered

are free of defects, are brand new and original. If at some stage it is

discovered that the components do not meet these criteria, the Bank has the

right to cancel the order and the Bidder will have to refund the total amount

received from the Bank along with the interest and separate penalties.

Similar conditions apply to software; as well the system software must be

licensed and original.

28. Intellectual Property Rights

The Bidder claims and represents that it has obtained appropriate rights to provide the Deliverables and Services upon the terms and conditions contained in this RFP.

28.1. The Bidder shall be responsible at its own cost for obtaining all necessary

authorizations and consents from third party licensors of Software used by


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Bidder in performing its obligations under this Project.

28.2. If a third party's claim endangers or disrupts the Bank‟s use of the

Deliverables, the Bidder shall at no further expense, charge, fee or cost to

the Bank, (i) obtain a license so that the Bank may continue use of the

Deliverables in accordance with the terms of this RFP.

28.3. Bidder shall indemnify and keep fully and effectively indemnified the Bank

from all legal actions, claims, or damages from third parties arising out of

use of software, designs or processes used by Bidder or in respect of any

other services rendered under this RFP.

29. Non-Transferable Offer

This Request for Proposal (RFP) is not transferable. Only the bidder who has

submitted the bid will be eligible for participation in the evaluation process.

30. Normalization of Bids

If required, Bank may go through a process of technical evaluation and

normalization of the bids to the extent possible and feasible to ensure that,

shortlisted bidders are more or less on the same technical ground. After the

normalization process, if the Bank feels that, any of the Bids needs to be

normalized and that such normalization has a bearing on the commercial bids;

the Bank may at its discretion ask all the technically shortlisted bidders to re-

submit the technical and commercial bids once again for scrutiny. The

resubmissions can be requested by the Bank in the following two manners:

- Incremental bid submission in part of the requested clarification by the

bank or - Revised submissions of the entire bid in the whole.

The Bank can repeat this normalization process at every stage of bid submission

till Bank is satisfied. The shortlisted bidders agree that, they have no

reservation or objection to the normalization process and all the technically

shortlisted bidders will, by responding to this RFP, agree to participate in the

normalization process and extend their co-operation to the Bank during this

process. The shortlisted bidders, by submitting the response to this RFP, agree

to the process and condition of the normalization process.

31. Responsibility for Completeness

Any supplies and services, which might not have been specifically mentioned in

this tender but, are necessary for the installation, Configuration, testing,

commissioning, performance or completeness of the order, shall be provided /

made available as per the time schedule for smooth and efficient operation and

maintenance of the system under Indian conditions.


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The bidder shall be responsible for any discrepancies, errors and omissions in the

technical details submitted by him/them, irrespective of whether these have

been approved , reviewed or otherwise , accepted by the Bank or not. The Bidder

shall take all corrective measures arising out of discrepancies, errors and

omissions in drawing and other information as mentioned above within the time

schedule and without extra cost to the Bank.

32. Customization Process

The Successful bidder shall ensure that the software supplied meets all the

functional requirements as given in the RFP. The successful bidders shall submit

individual time frames, within overall time frame stipulated as per this RFP,

required to change / modify / customize each part of the functional

requirements which needs such change / modification /customization.

Any customization done by the Successful bidder to provide the functionality

already available in the functional requirements of the RFP shall be at no extra

cost to the Bank, whatsoever.

In case of any additional functionality/new functionality in the software is

requested by the Bank subsequent to completion of contract, which are not part

of the functional requirements as given in the Contract document, the Bank shall

place such a request in writing giving the required details. The selected

successful bidder shall submit their commercial terms and shall carry out the

desired change on mutually agreed terms. The cost agreed shall be a lump sum

amount which shall include all expenses to be incurred for delivering such

modifications / changes.

Any gaps identified during product demonstration, functional requirements

specifications study, system testing, user acceptance testing, and pilot

implementation should be included by the Successful bidder as Implementation

efforts. The Bank will not pay the Successful bidder any additional charges for all

such customizations. The Successful bidder shall take up all such functionality as

required by the Bank on a priority basis.

The Successful bidder shall provide all solutions, testing instruments, drivers,

consumables, etc. required to install and customize and test the software free of

any fees or charges or any expenses. The Successful bidder shall document and

submit to the Bank all the testing activities, procedures and results. The

Successful bidder shall provide the Bank weekly progress report on the

bugs/problems reported/ points taken up with schedule of date of reporting,

date of resolving, and status for all kind of bugs and problems as and when

reported by the Bank.


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33. Escrow Arrangement

33.1. Bidder has to agree to keep source code of proposed solution with approved /

recognized escrow agency under escrow arrangements mutually acceptable

to the bank and Bidder for entire project period. Cost of the escrow

arrangement to be borne by Bank. Contract will be signed on mutually

acceptable terms with bank and escrow agent.

33.2. The application software should mitigate Application Security Risks; at a

minimum those discussed in OWASP top 10 (Open Web Application Security

Project).

33.3. The Bank has right to Audit the Application / Source Code by suitable

Security Auditor.

33.4. The Bidder shall provide complete and legal documentation of all

subsystems, licensed operating systems, licensed system software, and

licensed utility software and other licensed software. The Bidder shall also

provide licensed software for all software products whether developed by it

or acquired from others. The Bidder shall also indemnify the Bank against any

levies / penalties on account of any default in this regard.

33.5. In case the Bidder is coming with software which is not its proprietary

software, then the Bidder must submit evidence to the satisfaction of Bank in

the form of agreement it has entered into with the software vendor which

includes support from the software vendor for the proposed software for the

full period required by the Bank.

34. Ownership and Retention of Documents

34.1. All information processed, stored, or transmitted by successful Bidder

application belongs to the Bank. By having the responsibility to maintain the

application, the Bidder does not acquire implicit access rights to the

information or rights to redistribute the information. The Bidder understands

that civil, criminal, or administrative penalties may apply for failure to

protect information appropriately. Any information considered sensitive by

the bank must be protected by the successful Bidder from unauthorized

disclosure, modification or access. The bank‟s decision will be final.

34.2. Types of sensitive information that will be found on Bank system‟s which

the Bidder plans to support or have access to include, but are not limited to

Information subject to special statutory protection, legal actions, disciplinary

actions, complaints, IT security, pending cases, civil and criminal

investigations, etc.


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34.3. The successful Bidder shall not publish or disclose in any manner, without the

Bank‟s prior written consent, the details of any security safeguards designed,

developed, or implemented by the Bidder or existing at any of the Bank

location. The Bidder will have to develop procedures and implementation

plans to ensure that IT resources leaving the control of the assigned user

(such as being reassigned, removed for repair, replaced, or upgraded) are

cleared of all Bank data and sensitive application software.

35. Penalty

The Bidder shall perform its obligations under the agreement entered into with

the Bank, in a professional manner.

If any act or failure by the bidder under the agreement results in failure or

inoperability of systems and if the Bank has to take corrective actions to ensure

functionality of its property, the Bank reserves the right to impose penalty,

which may be equal to the cost it incurs or the loss it suffers for such failures.

If the Bidder fails to complete the due performance of the contract in

accordance with the specification and conditions of the offer document, the

Bank reserves the right either to cancel the order or to recover a suitable amount

as deemed reasonable as Penalty / Liquidated Damage for non-performance.

Any financial loss to the Bank on account of fraud taking place due to Successful

Bidder, its employee or their services provider‟s negligence shall be recoverable

from the Successful Bidder along with damages if any with regard to the Bank‟s

reputation and goodwill.

Bank may impose penalty to the extent of damage to its any equipment, if the

damage was due to the actions directly attributable to the staff of the Bidder.

36. Service Level Agreement & Penalties

36.1. Bank expects that the Bidder shall be bound by the Service Levels described

in this document.

36.2. The Bidder shall have to enter into “Service Levels Agreement” with Bank

covering all terms and conditions of this tender while providing the service

support and onsite support. Once go live of application, Indian Accounting

Standards (Ind AS) services should be available on 24x7 basis and hence any

technical problem should be resolved as per the response Time Matrix given

below :-


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Sr.No Severity Severity Description Support for Software solution

Response Time

Resolution Time

1 Severity 1 If the call is pertaining to production and there is complete disruption of services resulting in non-functioning of business/ application operations. The operation is mission critical due to major disruption of business continuity.

Within 30 Min of call reported.

Within 1 Hrs of call reported.

2 Severity 2 The issue is severe in nature but services are available with restricted operations and some manageable workarounds.

Within30 Min of call reported.

Within 2 Hrs of call reported.

3 Severity 3 Minor loss of service and the impact of the issue could be minor in nature which may require some workaround to bring the normal functioning.

Within 30 Min of call reported.

Within3 Hrs of call reported.

Bidder is expected to response and resolve issue within prescribed time frame

based on the severity description mentioned above and needs to strictly adhere

to Server Level Agreement (SLA).

36.3. The Bank would expect the bidder to commit to the service level assurances.

The Bidder shall commit to maintain uptime of 99.95% and above per month.

36.4. The SLA will be reviewed on a monthly basis. Penalties will be applicable due

to downtime of software application

36.5. The bidder shall guarantee 99.95% uptime. The Bidder shall be liable for

penalties for uptime maintained below 99.95% in a month. Penalties for

downtime of the application will be as per below mentioned table:

Level of Uptime Per Month Penalty Charges

99.95% and above No Penalty

99.00% and above but below 99.95%

1 % of total cost of monthly payout.

98.00% and above but below 99.00% 2 % of total cost of monthly payout.

97% and above but below 98.00% 5 % of total cost of monthly payout.

below 97% 10% of total cost of monthly payout.


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36.6. Bank will impose penalty for every instance of service un-availability Further

if the number of downtime instances during a month exceeds 3 times, an

additional 0.50% downtime will be reduced from uptime and the penalty will

be calculated accordingly.

36.7. Penalties, if any shall be calculated for every quarter and recovered from the

Annual Technical Support. For calculation of penalty during warranty period,

ATS Cost will be considered which will be deducted from the payment being

paid towards on-site support facility being availed during warranty period.

Wherever applicable as stated above while effecting any payment, deduction

towards LD payment will be made. Hence the bidder should raise the invoice

deducting the penalty amount.

37. Documents and Manuals

Two set of manual with screen shot and Frequent Asked Question (FAQ) to

be provided with each supplied item/product in soft and hard copy.

38. Audit

The Bidder shall at all times whenever required furnish all information, records,

data stored in whatsoever form to internal, external, Bank appointed and

statutory/RBI inspecting auditors and extend full cooperation in carrying out of

such inspection. The Bidder will also undertake to co-operate with the RBI to

carry out its supervisory functions and objectives and will furnish all records

and other information as RBI may call for to carry our inspection and/or other

functions. The Bidder is required to facilitate the same at no additional cost

and shall provide uninterrupted access to the documents required by the

auditors. Further the Bidder has to ensure rectification of all the

irregularities thus pointed out by the auditor within a given time frame.

The Bank has right to audit the Application /Source Code by the suitable

Security Auditor.

The bidder has to ensure compliance of Information Security according to policy

of the Bank and mitigate the risk, if any, within the stipulated time without any

additional cost to Bank.

In line of above, the selected bidder shall ensure that all regulatory, Statutory,

Local Administration requirements are adhered to subsequently while

undertaking deliverable and services over the period of contract without any

additional cost to Bank.

Compliance with security best practices may be monitored by periodic

computer/information security audit performed by or on behalf of the Bank. The

periodicity of these audits will be decided at the discretion of the Bank. These


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audit plan to include, but are not limited to, a review of: access and

authorization procedures, physical security controls, input/output controls, DB

controls, backup and recovery procedures, network security controls and

program change controls.

To the extent that the Bank deems it necessary to carry out a program of

inspection and audit to safeguard against threats and hazards to the

confidentiality, integrity, and availability of data, the Bidder shall afford the

Bank‟s representative access to the Bidder‟s facilities, installations, technical

resources, operations, documentation, records, databases and personnel. The

Bidder must provide the Bank access to various monitoring and performance

measurement system (both manual and automated). The Bank has the right to

get the monitoring and performance measurement systems (both manual and

automated) audited without prior approval / notice to the bidder.

39. Force Majeure

Force Majeure is herein defined as any cause, which is beyond the control of

the selected Bidder or the Bank as the case may be which they could not

foresee or with a reasonable amount of diligence could not have foreseen and

which substantially affect the performance of the Contract, such as:

39.1. Natural phenomena, including but not limited to floods, droughts,

earthquakes, epidemics,

39.2. Acts of any Government, including but not limited to war, declared or

undeclared, priorities, quarantines, embargoes,

39.3. Terrorist attacks, public unrest in work area;

Provided either party shall within ten (10) days from the occurrence of such a

cause notify the other in writing of such causes. The Bidder or the Bank shall not

be liable for delay in performing his/her obligations resulting from any Force

Majeure cause as referred to and/or defined above.

40. Exit Clause

The Bank reserves the right to cancel the contract in the event of happening one

or more of the following conditions:

40.1. Failure of the successful bidder to accept the contract and furnish the

Performance Bank Guarantee equivalent to 10% of the project cost within

30 days from receipt of purchase contract.

40.2. Delay in delivery beyond the specified period.

40.3. Delay in completing implementation/customization and acceptance tests/

checks beyond the specified periods;

40.4. Serious discrepancy in functionality to be provided or the performance

levels which have an impact on the functioning of the solution


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In addition to the cancellation of contract, Bank reserves the right to appropriate

the damages through encashment of Bid Security /Performance Guarantee given by

the Bidder. Bank reserves right to exit at any time after giving notice period of one

month during the contract period.

41. Termination of Contract

If the Termination is on account of failure of the successful bidder to perform

the obligations under this RFP contract, the Bank shall have the right to

invoke the Performance Bank Guarantee(s) given by the selected bidder.

The Bank will be entitled to terminate this Contract, without any cost to the

Bank and recover expenditure incurred by Bank, on the happening of any one

or more of the following:

41.1. The selected bidder commits a breach of any of the terms and conditions

of the bid.

41.2. The Successful bidder goes into liquidation voluntarily or otherwise.

41.3. An attachment is levied or continues to be levied for a period of 7 days

upon effects of the Agreement.

41.4. The progress regarding the execution of the order accepted by the

selected bidder is found to be unsatisfactory or delay in execution of the

contract, the Bank reserves the right to get the balance contract

executed by the another party of its choice by giving one month‟s notice

for the same. In this event, the selected bidder is bound to make good

the additional expenditure, which Bank may have to incur in executing

the balance contract. This clause is applicable, if for any reason, the

contract is cancelled.

41.5. If deductions on account of liquidated damages exceeds more than 10%.

41.6. Non-satisfactory performance of the selected bidder during

implementation and operation.

41.7. An act of omission by the Bidder, its employees, its agents, or employees

of the consortium in the performance of the services provided by this

contract.

41.8. Failure to integrate/implement the Project as per the requirements of

the Bank as stated in this RFP.

41.9. Material discrepancies in the Deliverables and Services noted in the

implementation of the Project. Bank reserves the right to procure the

same or similar product from the alternate sources at the risk, cost and

responsibility of the selected bidder.

41.10. Selected bidder is found to be indulging in frauds.

41.11. The Bank suffers a reputation loss on account of any activity of Successful

bidder.

41.12. In the event of sub contract or assignment contrary to the terms of

agreement.


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42. Arbitration

All disputes and differences of any kind whatsoever arising out of or in

connection with the purchase order shall be referred to arbitration. The

arbitrator may be appointed by both the parties or in case of disagreement each

party may appoint an arbitrator and such arbitrators shall appoint an Umpire

before entering on the reference. The decision of the Umpire shall be final.

Such arbitration shall be governed by the provisions of Indian Arbitration and

Conciliation Act 1996. All arbitration proceedings shall be at Mumbai,

Maharashtra State, India only.

43. Jurisdiction

Notwithstanding anything contained herein above, in case of any dispute, claim

and legal action arising out of this RFP, the parties shall be subject to the

jurisdiction of courts at Mumbai, Maharashtra State, India only.

44. Submission of Bids

The bidders have to submit bid (all documents) through online as per

requirement of RFP on e-Procurement site https://ubi.abcprocure.com. In

addition to online bid submission, Cost of RFP (Original DD), Original DD/BG for

Bid security/EMD & Integrity Pact (IP) must be submitted physically in a sealed

cover at the following address on or before scheduled date and time.

The General Manager,

Union Bank of India,

Department of Information Technology,

Technology Centre, Adi Shankaracharya Marg,

Opposite Powai Lake, Powai,

Mumbai – 400072.

Bank may, at its discretion, extend this deadline for submission of bids by releasing

corrigendum to this tender document.



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45. Annexure A – Letter of Acceptance

Date: Letter to the bank on the bidder‟s company letterhead To, The General Manager Union Bank of India Technology Centre, 5th floor, Department of Information Technology, Adi Shankaracharya Marg, Powai, Andheri (East), Mumbai, 400072 Dear Sir, Subject: Our bid for RFP for Procurement of Software for Implementation of Indian Accounting Standards. With reference to the above subject, having examined and understood the instructions, terms and conditions forming part of it, we hereby enclose our offer for the desired solution as detailed in your above referred RFP. We further confirm that the offer is in conformity with the terms and conditions as mentioned in the RFP and all required information as mentioned is enclosed. We also confirm that the offer shall remain valid for 180 days from the date of the offer. We hereby undertake that supporting software supplied, if required will be licensed, legally obtained and with latest version. We understand that the Bank is not bound to accept the RFP either in part or in full and that the Bank has right to reject the RFP in full or in part without assigning any reasons whatsoever. We understand that

a. You are not bound to accept the lowest or any bid received by you, and you may reject all or any bid.

b. If our Bid for the above job is accepted, we undertake to enter into and execute at our cost, when called upon by the purchaser to do so, a contract in the prescribed form. Unless and until a formal contract is prepared and executed, this bid together with your written acceptance thereof shall constitute a binding contract between us.

c. If our bid is accepted, we are to be responsible for the due performance of the contract.

d. You may accept or entrust the entire work to one Bidder or divide the work to more than one Bidder without assigning any reason or giving any explanation whatsoever.


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e. Bidder means the bidder who is decided and declared so after examination of commercial bids.

f. We enclose Demand Draft/Bank Guarantee for Rs.20,00,000/- (Rupees Twenty Lac Only) favoring Union Bank of India and payable at Mumbai, towards bid security, details of the same is as under: No. : Date : Name of Issuing Bank : Dated at ____________this ____________day of __________2018

We hereby declare that all the information & Statements made in this RFP are true and accept that any misinterpretation contained in it may lead to our disqualification. We agree to all terms & conditions of the RFP.

Yours faithfully,

Date: For _________________________

Signature ____________________

Name _______________________

Authorized Signatories (Name & Designation, seal of the firm)


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46. Annexure B - Bid Form

Ref No………………… Place: Date: To, The General Manager Union Bank of India, Technology Center, Department of Information Technology, Adi Shankaracharya Marg, Powai, Andheri (East), Mumbai – 400072 Dear Sir, Having examined the Request for Proposal (RFP) Ref No. ________ the receipt of which is hereby duly acknowledged, we, the undersigned, offer to supply, deliver, implement, customize and commission the various requirements in conformity with the said RFP for the sum mentioned in the Price Bid or such other sums as may be ascertained in accordance with the Schedule of Prices attached and made part of this Bid. We undertake, if our Bid is accepted, to deliver the goods/ provide the services in accordance with the Delivery Schedule / implementation schedule specified. We agree to abide by this bid for a period of 180 days from the last date of submission of Bid and shall remain binding upon us and may be accepted at any time before the expiration of that period. We further confirm that, in case we offer system and/or other software manufactured by another company, such software operates effectively on the system offered by us and we are willing to accept responsibility for its successful operations. Until a formal contract is prepared and executed, this bid, together with your written acceptance thereof and your Notification of Award, shall constitute a binding Contract between us. We undertake that, in competing for (and, if the award is made to us, in executing) the above contract, we will strictly observe the laws against fraud and corruption in force in India namely “Prevention of Corruption Act 1988”. Commissions or gratuities, if any paid or to be paid by us to agents relating to this Bid, and to contract execution if we are awarded the contract, are listed below:

Name & address of agent Amount & currency Purpose of commission or gratuity *(If none, state none)

We understand that you are not bound to accept the lowest or any bid you may receive. Dated this........ Day of ............... 2018 (Signature) (In the capacity of) Duly authorized to sign bid with seal for & on behalf of (Name & Address of the Bidder)


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47. Annexure C - Bidder’s Profile Format

Serial No.

Parameters Response

1 Name of the Firm/Company

2 Year of Incorporation in India

3 Names of the Partners/Directors

4 Name and Address of the Principal Banker

5

Addresses of Firm/Company

a) Head Office

b) Local Office in Mumbai(if any)

6

Authorized Contact person

a) Name and Designation

b) Telephone number

c) E-mail ID.

7

Financial parameters

Business Results (last three years) Annual Turnover (Rs. in Crores)

Operating Profit (Rs. in Crores)

2016-17

2017-18

2018-19 (Only company figures need to be

mentioned. Not to include group/subsidiary Company figures)

(Mention the above amount in INR only)

8

Bidder‟s experience in implementation of proposed solution (in years)

a)Experience in India

b)Global Experience

9.

Details of project executed with Name of Customer

No. of Years in Use

N.B. Enclose copies of Audited Balance Sheet along with enclosures Place: Date: Signature: Name & Designation: Business Address:


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48. Annexure D - Eligibility Criteria

S.

No. Eligibility Criteria Documents to be

submitted Compliance (Yes/No)

1 The bidder has to submit Integrity Pact (IP)

signed by authorized signatory as

prescribed format mentioned in Annexure K

on plain paper in advance(not prior to

issuance of RFP) or at the time of bid

submission. Bidder shall be liable for

rejection in case of non-submission of the

same.

Annexure K is to be submitted.

2

The bidder should be a

registered/incorporated company in India

as per Companies Act 1956/2013. It can be

a Government Organization/Public Sector

Unit/Limited Liability Partnership

(LLP)/Private Limited Company/ Public

Limited Company and must be in existence

for the last 5 years.

Relevant Documents of registration is to be submitted.

3

Bidder should have minimum annual

turnover of Rs. 50 Crore each during last

three financial years (2016-17, 2017-18 &

2018-19). In case the audited financials for

the year 2018-19 is not available, CA

Certificate for turnover of 2018-19 should

be submitted. This must be the individual

company turnover and not that of any

group of companies.

Copies of Audited financial statements for FY2016-17, FY 2017-18 & FY2018-19 years are to be submitted.

4

The bidder should have positive operating

Profit (as EBITDA i.e. Earnings, Before

Interest, Tax, Depreciation & Amortization)

in the last three financial years, (2016-17,

2017-18 and 2018-19). In case the audited

financials for the year 2018-19 is not

available, CA Certificate for EBITDA of

2018-19 should be submitted.

Copies of the audited balance sheet of the company for FY2016-17, FY2017-18 & FY2018-19 years are to be submitted.


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5

The bidder/OSD should have

implemented/under implementation of

the proposed solution at least in any one

Scheduled Commercial Banks/NBFCs in

India/Overseas during last three years.

Three year’s period will be reckoned as of

last date of submission of the bid.

The bidder has to

submit Purchase Order

/ letter from client for

satisfactory

performance of

solution and

supporting documents

for the same).

6

The Bidder should be OEM or Original

Solution Developer (OSD) or their

authorized partners or Service Provider

(SP) or System Integrator (SI) of OEM/OSD

in India with an authority to do

customization/up-gradation during the

period of contract with the Bank. Bidder

needs to provide Manufacturer

Authorization Form (MAF) from OEM

stating that bidder is authorized partner of

OEM and authorized to participate in this

tender and in case the bidder is not able

to perform obligations as per contract

during the contract period, contracted

services will be provided by OEM within

the stipulated time. Both OEM/OSD & their

authorized partner cannot participate in

the RFP. In case, both OEM & his

authorized partner participate, only bid of

the OEM/OSD will be considered.

Bidder has to submit authorization letter from the proposed OSD.

7

The Bidder and OSD should have not been

black listed at any time by the Central /

State Governments/ PSUs/PSBs. In case, in

the past, the name of their Company was

black listed by any of the Govt. Authority

or PSUs/PSBs, the name of the company or

organization must have been removed

from the said list as on date of submission

of the RFP, otherwise it will not be

considered.

Self Declaration on

bidder‟s and OSD‟s

letter Head signed by

authorized signatory

of the bidder and OSD

as per the Annexure R

is required to be

submitted.

Authorized Signatory:

Place: Name & Designation:

Date: Business Address & email id:


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49. Annexure D (A) – Compliance to RFP terms & conditions

S. No.

Clause Details Bidder's Compliance

(Yes/No)

1 Introduction

2 Integrity Pact (IP) 3 Objectives of the RFP

4 Invitation of Tender Bids

5 Eligibility Criteria

6 Broad Scope of Work

7 Solution Specifications /Functional Requirement

8 Disaster Recovery

9 Infrastructure

10 Instructions for Bid Submission

11 Onsite development, support & maintenance Resource

12 Rejection of Bid

13 Pre-bid Meeting

14 RFP Response 15 Modification and Withdrawals of Bid

16 Liquidated Damage (LD) 17 Warranty

18 Contract Period

19 Sub Contract

20 Annual Technical Support Agreement

21 Adherence of Cyber Security Policy

22 Patent Rights

23 Price Validity

24 Payment Terms

25 Authorized Signatory

26 Limitation of Liability

27 Confidentiality

28 Indemnity

29 Intellectual Property Rights

30 Non-transferable Offer

31 Normalization of Bids

32 Responsibility for Completeness

33 Customization Process

34 Escrow Arrangement

35 Ownership and Retention of Documents

36 Penalty


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S. No.

Clause Details Bidder's Compliance

(Yes/No)

37 Service Level Agreements & Penalties

38 Documents and Manuals

39 Audit

40 Force Majeure

41 Exit Clause

42 Termination of Contract

43 Arbitration

44 Jurisdiction

45 Submission of Bids

Place: Date: Signature: Name & Designation: Business Address:


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50. Annexure D (B) – Declaration for Compliance

All Terms and Conditions including scope of work except technical specifications.

We hereby undertake and agree to abide by all the terms and conditions stipulated by the

Bank in this RFP including all addendum, corrigendum etc. (Any deviation may result in

disqualification of bids).

Signature:

Seal of company

Technical Specification

We certify that the services offered by us for tender confirms to the specifications

stipulated by you with the following deviations.

List of deviations

1) ___________________________________________________________

2) ___________________________________________________________

3) ___________________________________________________________

4) ___________________________________________________________

Signature:

Seal of company

(If left blank it will be construed that there is no deviation from the specifications given

above)


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51. Annexure E – Functional and Technical Requirement for Compliance

I) Functional Requirements Specifications

Sr.No. Functional Requirements Compliance (Yes/No)

1. The application should be implemented centrally incorporating required functionalities.

2. The application is to be integrated with various source systems

3. The Application should be implemented on mapping Rule based Consolidation and should be seamlessly automated

4. The Application should support Multi‐GAAP (Generally Accepted Accounting Standards).

5. The Application should support multi currency accounting. The application should be configured to translate the balances into INR or any other desired currency or vice versa.

6. To implement reports for end users like Financial Statements, Schedules to the Financial Statements, Ad hoc Reporting and Account inquiries.

7. The Application should be implemented with provision for back dating of transactions and also updating historical values

8. Multiple sets of same books of accounts to be permitted as per different accounting principles

9. Ability to define multiple legal entities

10. Ability to define scalable Organization Structure

11. Ability to attach and store scanned document

12. System should support historical data migration as well retrieval

13. To develop and establish ETL from various sources/legacy systems

14. Define the chart of accounts in such a manner that account balances can be tracked by following dimensions. These dimensions can be further enhanced during the actual implementation phase: Entity Branch Line of Business Product Ledger/Account code Source Department Inter-company, Future use


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15. The system should enable mapping of chart of account segments and respective segment values of transaction systems with the chart of accounts and the respective segment values of EGL system. The mapping should be possible one‐to‐one or many‐to‐one. This should be supported with well defined interfaces

16. Setup different analysis codes one level below the GL account code combination without increasing the size of chart of accounts

17. Define parent child relationship at multiple levels. The system should not allow posting to the parent account.

18. Group the accounts by different types (user defined) e.g. assets, current assets, etc.

19. Centralized account maintenance capability

20. Cost/Profit center wise analysis

21. Define automatic and default account assignments that the bank always use to post to a particular accounting dimension

22. Define statistical/memo accounts for collecting Non‐Financial Information

23. Ability to create and modify segment roll‐ups (hierarchical relationships). A hierarchy builder to support the multilevel changes with drag and drop facilities

24. Parent level /child level group based reports Ability to upload chart of accounts to legacy systems for validating purposes

25. Flexibility in defining accounting periods

26. Flexibility for daily / monthly / quarterly ( user defined periods)

27. Provision of holiday marking.

28. Multiple calendar period should be in open status and available for posting

29. The Solution should support seamless integration with the Banking & Financial system and other systems.

30. Have separate period closing capability for each Ledger

31. System should support both soft closing / Hard closing

32. System should allow Reopening of closed period subject to valid authorization

33. System should support multiple currency

34. System should have provision to set as default currency

35. System to support statistical transaction to capture Financial /non financial information

36. Posting should be allowed only for balanced transactions. However, unbalanced transactions should be saved, if required.


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37. Upload transactions from a spread sheet with active edit, control, checks and validations (as if its captured online).

38. Copy existing transactions, edit and use them for new input Process transactions (with restricted access) related to prior periods.

39. Process transactions (with restricted access) related to Future periods

40. Post transactions single or by batch

41. Post transactions in real time and batch

42. Restrict data entry to those accounts that are marked as control accounts

43. Provide immediate, on‐line pop‐up to the user of erroneous transactions. Advise reason for error and provide the ability to enter corrections on‐line.

44. The system should support simultaneous accounting for multiple reporting requirements

45. Ability to define exchange rates with multiple currencies and also vis‐à‐vis base currency

46. Ability to process transactions entered in foreign currency based on the exchange rates definition, in an on‐line mode

47. Tracking and reporting of all foreign currency transactions in transaction currency and base currency

48. Allows automatic / manual matching of debit and credit transactions in certain GL accounts

49. System should auto generate batch number.

50. To have certain transaction templates so that the same is used during the transaction entry.

51. Setup recurring transactions with amounts or formula

52. Generate recurring transactions and modify the generated transaction if required

53. Setup automatic and manual reversing transactions. For, example, create automatic reversal transactions upon opening a period of accrual transactions

54. Posting to periods irrespective of transaction date (in the transaction entry there must be field to specify to which period the transaction will be posted)

55. Transactions should be in a position to be reversed or cancelled with appropriate authorization

56. Reversal transactions: These transactions are provisional transactions and get updated in the books of accounts. It has to capture an additional date called “Reversal Date”. On the date of reversal it should automatically reverse those transactions


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57. Allow Mass Reversal of transactions based on user defined parameters

58. Transactions originating in other systems or sub ledgers may be required to be posted in the general ledger either in detail or in summary. This could be done for individual journal as well as auto‐posting

59. Receive direct journal feeds from various systems, such as Finacle etc

60. System should have the ability to approve the entries generated using either batch upload or through work flow management

61. The system should enable definition of levels of hierarchy for approving entries and avoid posting without adequate approval

62. It should support maker/ checker concept.

63. More than one level of authorization based on the amount /account level.

64. Set up default accounting rules for inter organization transaction processing

65. Ability to automatically generate inter organization entries and hold awaiting authorization. Auto reconciliation should be well defined

66. Ability to provide inter‐organization transaction summary register by business area

67. Ability to identify the inter‐organization balances Close and open the year automatically based on user defined parameters

68. Keep adjusting period for audit adjustments and other financial transactions after the year close

69. Generate closing exception reports

70. Ability to maintain an automatic update for retained earnings when closing the ledger at year end

71. Ability to ensure at year‐end close that all entries are balanced and that all periods have been closed

72. Ability to allow different organization/levels in the organisation to close independently

73. Ability to re‐open prior periods and make adjusting financial entries, re‐run allocations using that period's allocation methodology and post allocation methodology changes.

74. Ability to zero out P&L accounts for next year processing during year‐end close

75. Ability to carry forward prior year‐end Balance Sheet account balances to new fiscal year as beginning balances during year‐end close


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76. Ability to prepare consolidated financial statements annually taking subsidiaries and associates company‟s financial statements into consideration

77. Ability to generate elimination entry for intercompany transactions automatically

78. Ability to generate minority interest for subsidiaries and associates from the system

79. Flexibility in defining and generating report in any currency.

80. Consolidation based on various user defined grouping i.e. Branch/Region/ Zone/STC etc.

81. Segment wise consolidation

82. Perform on‐line transaction inquiries for the following: Range of accounts or segments Summarized at various levels of parents / summary accounts For a period or for a range of periods Actual or budget or both with variance Period to date, year to date or quarter to date Perform budget vs. actual with variance inquiry Inquire account balances for net change and period balances

83. Perform cross module drill down. From account balance to summarized journal to detailed journal line and finally to the transaction window where it is input

84. Print and view posted transaction entries (historical transaction entry listing) by different criteria such as: Transaction Number Period Amount Date of Entry Transaction source, category, type

85. Apart from the above system should support various user defined Ad‐hoc Queries

86. Should support following reports (but not limited to): Balance Sheet (bank and consolidated) Profit and Loss (bank and consolidated) Schedules for Balance Sheet and Profit & Loss (bank and consolidated) Abridged Balance Sheet

87. System should support all the above reports or the present as well as previous periods

88. Generate transaction detail report for a single account or for a range of account by: Year to date


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Period to date Summarized Detailed

89. System should have capability to generate the report even after initialization of data during year end closing. During year end closing All the Income and Expenditure heads balance get initialized so the balance in all the accounts when extracted will be zero in the new financial year so system should have the logic to handle this scenario.

90. Facilitate Generation of trial balance summarized and detailed on prescribed periodicity

91. Facilitate Generation of trial balance summarized by account segment Print transaction vouchers from the system before and after posting with the status shown separately

92. Facilitate Production of general ledger reports for user selected accounts and periods (General Ledger Scrutiny)

93. Reprint reports for prior periods

94. Financial Statements ‐ Print Financial as output

95. Financial Statements ‐ Maintains Multiple Past Years Financial Data

96. Financial Statements ‐ This Month Versus Last Month, as well as same month/day previous year

97. Financial Statements ‐ Year to Date Versus Last Year

98. Financial Statements ‐ Year to Date Versus current and other Budgets

99. Financial Statements ‐ Variance Expressed as Percentage or value

100. System should have the capability for generation of various user defined reports with setting rules for rounding off amount as desired.

101. All the reports should be supported in excel/xml/ PDF / CSV formats etc.

102. System should support scheduling of batch jobs for auto generation of reports and mailing to Branches /ROs/ZOs

103. System should support classification and reclassification (IFRS 9/Ind AS 109) of the financial assets and liabilities and associated accounting impact

104. Ability to consider only relevant transactions for the purpose of ECL Impairment computations for the financial assets prescribed under IFRS 9/Ind AS 109

105. System should provide pre-defined (out of box) rules for IFRS 9/Ind AS 109 Stage 1, Stage 2 & Stage 3 and allow for user defined rules as well


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106. System should support workflow features and audit facility for overrides for classification/reclassification/stage determination

107. System should able to compute 12 month ECL & Lifetime ECL.

108. System should support provisions based current RBI norms, EIR calculation of credit impaired assets, calculation of credit shortfall based on forecast cash flows, rating migration and collateral value. System should provide out of box methodologies for computation of 12 month ECL & Lifetime ECL as well as allow user defined methodologies.

109. System should support computation of Effective Interest Rate and Fair value for IFRS 9/Ind AS 109

110. System should support inward and outward interfaces with other systems in bank

111. System should provide standard reports for IFRS 9/Ind AS 109

112. System should be able to recognize income, gains, losses of hedged and non hedged derivatives based on IFRS 9/Ind AS 109 requirements

II) Technical Requirements Specifications

Sr.No. Technical Requirements Compliance (Yes/No)

1. The integration architecture should include the types of interfaces supported; the standards used and should comply with Bank architecture principles

2. The Bidder will ensure and incorporate all necessary security and control features within the application, operating system, database, etc. so as to maintain integrity and confidentiality of data at all times

3. When developing the interfaces, the Bidder should ensure the requirements of data format, frequency of data transfer, quality checks and validations before data transfer and priorities for data transfer are identified and addressed.

4. The Bidder will be responsible for setting up the test environment for interface testing.

5. Providing checkpoint reports to ensure thorough reconciliation of the data, while ensuring data integrity

6. Formulating the Data Migration strategy and process documentation


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7. The successful bidder should replicate the whole setup for all modules with customization in DR

8. Bidder has to provide support in fine tuning the performance of software solution during the contract period as and when required and at regular intervals

9. Bidder to provide SOP (Standard Operating Procedure) for all development and customization and maintenance activities from time to time

10. The bidder should provide detailed procedure for backup and restoration for Indian Accounting Standards (IndAS) in accordance with Bank‟s Backup and restoration Policy. Same will be shared with selected bidder

11. The solution should be able to seamlessly call Data Quality functionalities such as data standardization as part of the ETL process flow

12. The ETL tool should provide native access Industry leading RDBMS like ORACLE, DB2, SQL Server, Sybase, MYSQL and appliances like Netezza, Teradata, etc.

13. The solution should provide the ability to execute external OS level commands such as call shell scripts as part of the ETL process

14. The solution should have the ability to perform complex search (based on object name, type, date range etc.) of the metadata repository and should also be able to save search criteria for reuse.

15. The solution should provide the ability to export metadata as a package for backup and archival and import the same through a wizard driven interface

16. The solution should have the ability to easily capture and display performance information such as real time, CPU time, memory use, input/output, and record count data as a table / graph

17. The solution should provide a graphical user interface to profile the data to understand and analyze the quality of data

18. The solution should provide Scalability and High Performance leveraging cost-effective architecture

19. The solution should provide the capability to export data to Excel and CSV/TSV document formats

20. The solution should provide users the capability to save and share their analysis as exploration, report, or PDF

21. The solution should support distribution of Reports and Dashboards to iPad and Android devices.

22. The solution should be capable to schedule & distribute reports/dashboards


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23. The solution should be able to create the required management dashboards and reports required by management

24. Ability to export reports into excel and Ability to save reports to Excel / Local drive for e-mail distribution

25. Ability to define format of Reports

26. Data Management covering ETL, Data Quality, Name Screening, De-Duplication

27. Data Repository to store Bank wide data in a organized manner

28. Ability to audit all operator activity for further investigation if required.

29. The system should only be accessible by authorized Bank‟s users.

30. The system should be configured with various user profiles with restricted privileges per user group depending on their role

31. Must comply with Bank‟s Information Security Requirements

32. Password protection should be available and no system password should be displayed in clear text

33. The system should allow a user to have one profile at any one time.

34. The system administration should be kept separate from operational processing area.

35. Ability to completely rebuild all data from back up.

36. The system must have the ability to have appropriate recovery/restart points built in

37. Ability to switch seamlessly to a Bank assured disaster recovery site.

38. The system must have an assured DR site in place.

39. There needs to be a DR Script users can run following switchover/restore to both the DR site and back again to Primary site.

40. Historical data should not be retained for longer than regulatory time periods and should be deleted/archived

41. Audit Logs should be retained for a minimum period of 18 months

42. There should be maker checker implementation for all the critical functions to be carried out by an user. Application should have facility to define admin roles.


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43. The solution should provide the solution architecture in detail describing the components involved in the entire set-up.

44. The solution should provide details of the clustering/failover mechanisms proposed.

45. The solution should describe the technical architecture in detail with the hardware and environmental software requirements.

46. The system should provide the basis/parameters considered for the sizing recommended. And it should provide year wise sizing plan.

47. The system should provide details of the integration methodology proposed, API structure and the ease of integration with different application as well peripheral systems.

48. Integration/interface architecture is based around industry best practices

49. The System needs to have a Distributed Architecture to allow for load balancing, high availability and failover

50. The system should integrate with existing industry standard security methods (MSAD, LDAP, etc) for authentication. The system should support multiple sources of authentication for single application.

51. All data, metadata and computation rules should be centrally located for easy maintenance, security and to present a single version of truth at all times.

52. Access should be provided on roles based.

53. Maker Checker rules should be based on Limits / nature of entries etc

54. Validation of various user ids and checking of adequate Privilege

55. Specific reports for transaction posted in restricted accounts Once reporting period Audited/reviewed results are finalized and freezed, no alteration should be allowed through any user ID.

56. Audit trail to track changes like Addition, Deletion and Modification to master data e.g. Chart of Accounts

57. Audit trail to track changes like Addition, Deletion and Modification to transaction data e.g. Transaction Entry posted

58. Period audits - For re‐opening of fiscal/Financial year periods The final system architecture should provide backup and restore solution.


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59. The System should provide easy Audit Trail Functionality for monitoring Changes

60. Ability to identify the who, the what, and the when of changes made to the transactions

61. Provide full on‐line help look‐up facility for all of the fields within journal data entry, including account numbers and display descriptions for code verification etc. Aggregation should be at Branch / Region/Zone / Co level should be possible.

62. All the existing reports and generation of various files on periodical intervals as done in the legacy system should be supported.



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52. Annexure E (A) – Solution Specification / Functional Requirement for Evaluation

Particulars Max. Mark A C NA

1. The Bidder is required to study the existing interface and making necessary changes to upgrade interfaces between the proposed solution with the applications and systems mentioned below:-

1.1. Finacle – Core Banking Solution (Domestic & Overseas) 10

1.2. Treasury Application (Kastle/Finacle Treasury) 10

1.3. Manual Data (Excel Files) 10

1.4. Oracle General Ledger 10

1.5. Enterprise Data Ware house (EDW) 10

1.6. Lending Automation Solution (LAS) 10

2. Valuation and amortisation of financial assets as per the classification.

10

3. Classification and Measurement of Financial Liabilities as per Ind AS.

10

4. Reclassification of financial assets and de-recognition of financial liabilities.

10

5. Processing fees or any other loan origination fees collected and incremental cost incurred at the time of loan booking should be parked in “Unamortized fees” sub GL.

10

6. Other charges like documentation charges, Inspection fees, etc which are collected upfront at the time of origination of loan need to be captured separately in a separate GL. Upfront Fees related to loan accounts needs to be tagged to respective loan account.

10

7. Bifurcation/mapping of all charges/Fees (Such as but not limited to Processing Fee, Mortgage Fee, Doc charges, etc.) received from borrowers into One-time charges & recurring charges.

10

8. Processing fees reversed subsequently due to waiver or concessions given should also be factored in account wise.

10

9. Solution should have the functionality to generate cash flows (Cash flow engine) based on the repayment schedule or inputs fed in the system / available in different source systems.

10

10. The Cash Flow Engine shall be able to create expected and contractual Cash Flow from data characteristics of financial instruments according to different types of contracts

10


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11. The solution should provide the capability to alter cash flows through parameters (e.g. pre-payment) that can be set as part of configurations. Audit trail to be maintained of these configurations and changes.

10

12. The solution should support creation of future cash flow according to original debt repayment schedules and scenarios as required. E.g. According to different/revised repricing schedules such as step up, step down or a combination of repricing schedule. The cash flows shall be created based on inputs of the instruments. It may be possible that there may be different scenarios for single instrument. All such scenarios should be developed by the system

10

13. The solution should support calculation of the future cash flow in the event of changes in estimate. This includes but is not limited to: Prepayments, Debt Restructuring, Interest Rates, Disbursement / Progressive Disbursements etc.

10

14. The system must be able to calculate expected life for individual account and by portfolio based on given requirements by the Bank i.e. behavioral cash flows. Expected life should be parameterized and allowed to change according to specific requirements of the banks for aspects such as prepayments, changes in repayment schedule etc.

10

15. The solution should be able to integrate the factors of prepayment pattern, utilization of off-balance sheet items, etc as part of creation of cash flows. The same shall be based on terms fed in the system for each instrument. Appropriate maker and checker shall be there for insertion of the terms. If there is change in some input, then revised future cash flows should be generated by the system. Eg if there is change in interest rate, then cash flows needs to be revisited.

10

16. The solution should support the creation of cash flows based on the EMIs, Bullets and such other standard amortization methods.

10

17. The solution should be able to store detailed cash flows for future reference and transparency for time period as required by the bank

10

18. The solution should have the capability to have different sets of cash flow calculated for each account as required by the bank. Cash flows for the different possible scenarios shall be generated by the system. Eg what will be the cash flow if call option not exercised, what will be the cash flow if the same is exercised etc.

10


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19. The solution should have the ability to calculate expected cash flow for purchased impaired assets in accordance with IFRS9

10

20. The solution shall have the capability to calculate expected cash flows with forward looking interest rate changes / currency rate changes etc which are different per scenario.

10

21. The solutions should cater to the requirement of manual input of recovery, expected or contractual cash flows or apply loss rates to a set of cash flows as required.

10

22. The solution should support all types of financial instruments, either those with fixed interest rate, floating interest rate, or variable interest rate.

10

23. The solution should have the ability to calculate expected cash flow for purchased impaired assets in accordance with IFRS9 / IND AS.

10

24. The solution should have a function to calculate the fair value of a financial instrument using cashflow discounting,

10

25. The solution shall have the capability to calculate expected cash flows with replication (of credit cards) behavior which is different per scenario. The system should be able to do the sensitivity analysis.

10

26. The Cash Flow Engine shall be able to take Cash Flows provided as download from other systems within the Bank, if available.

10

27. System should facilitate calculation of Effective interest rate (EIR) of all financial instruments and generate cash flows required for the same.

10

28. Effective Interest rate should be recomputed whenever there is any change in the normal repayment schedule of the customer for eg. Partial Prepayment, interest rate change, EMI defaults, tenure change, EMI change, Rephasements restructuring etc.

10

29. The solution should handle amortization of fees/commissions/costs, discounts/premiums, which are considered integral part of the EIR.

10

30. Solution should be able to recalculate the carrying value of the loan (i.e. modified cash flows needs to be discounted at original EIR) and recognize a gain/loss on modification to P/L statement.

10

31. The solution should be able to calculate EIR for both fixed rate / floating rate/ variable rate purchased impaired assets in such a way that an EIR will be available for the original contractual terms as well as the EIR for the purchased impaired assets in accordance with the Expected loss model of IFRS 9:

10


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32. The solution should be able to calculate the effective interest rate based on triggers set by the bank which could be based on designated account id's, client id's and frequencies: daily, monthly, or every time there is a change in events that change the underlying cash flows/other terms & conditions.

10

33. Solution should compute amortized cost of the financial liabilities as per Effective Interest Rate (EIR) method after taking into account transaction cost and other charges. Transaction cost should automatically be extracted from the system or solution should be flexible enough to accept the manual feeding of such information financial liability wise.

10

34. The solution should be able to calculate the effective interest rate of a financial instrument throughout its life, either the financial instrument with fixed life or the expected life.

10

35. System should run a parallel schedule to calculate interest as per EIR at every EOD at account level taking into account upfront fees collected from customer.

10

36. The solution should be able to support uploading of the effective interest rate from external system. It should support manual changes or input of the EIR, approval workflow and audit trail to be maintained.

10

37. The solution should have the capability to define triggers or indicators to recalculate changed effective interest rate. The calculated values to be maintained for reference throughout the lifetime of the instrument. For example, when call option not exercised, then EIR shall be calculated on the contractual life rather than estimated life.

10

38. The solution should be able to handle EIR calculations and amortized cost adjustments for all financial instruments which are measured at amortized cost or FVOCI including staff loans.

10

39. The system must provide report/record/log of the events or any other reasons that cause change in income/expense recognition.

10

40. The solution shall have the ability to provide the necessary transparency for auditors to display the historical calculation results and change events.

10

41. The solution should have the ability to drill down from an aggregated interest revenue level to transaction / event level of detail on which the effective interest rate accrual was calculated

10

42. The solution should provide the ability to integrate the EIR calculated with the Impairment calculations or any other rate as chosen by the bank. Impairment testing checklist /format should be embedded in the software.

10


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43. The system should allow user to perform the analysis and make correction of any errors on the contract level.

10

44. For purchased credit-impaired assets, the solution should have the capability to calculate an EIR based on the contractual cash flow calculation, a credit-adjusted EIR based on the expected cash flow.

10

45. The solution should be able to generate the amortization schedule at account level or portfolio level

10

46. System should have capability to build and store amortization schedule from the date of origination of loan.

10

47. The system should allow for “drill down” from aggregated balance into detailed information of each contract and its valuation results on historical dates. Solution should generate amortization table by contract/account that shows the breakdown of cash flow into;

47.1. Principal 10

47.2. Cash flow movement 10

47.3. Actual/Contractual Interest 10

47.4. Interest according Effective Interest Rate 10

47.5. Carrying amount (In case of Purchased or Originated Credit-Impaired Assets)

10

47.6. Expected Credit Loss/Impairment Loss 10

48. With regard to credit / debit card reward points, System should be capable of computing the amount of interchange fees to be deferred as System needs to defer the interchange fees earned into fees allocated for issue of reward points and the balance fee will have to be recognized on completion of the transaction i.e. upfront. The fee allocated for issue of reward points to be recognized as revenue as and when the customer redeems the reward points/ when the reward points lapses.

10

49. System should be able to recognize One time charges collected /Bank guarantee commission etc as income over the period instead of recognizing it upfront.

10

50. For the amortization schedule, the solution should be able to update the schedule should there be any delay in payment or partial repayment of the instalment amount etc.

10

51. Solution should be able to do fair valuation of Staff loans and the difference between Fair value and nominal value is to be recognized as employee cost over the tenure of Staff loan.

10

52. Solution should be able to do fair valuation of Staff deposit and the difference between Fair value and nominal value is to be recognized as employee cost.

10


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53. The solution should have the capability to calculate interest based on gross or net amount based on stage assessment

10

54. Calculation of provisioning as per “Expected Credit Loss” (ECL) Model for recognition of impairment on financial assets.

10

55. Solution should provide the flexibility to define or customize bank specific calculation methodologies for the computation of ECL.

10

56. Ability to add / edit the ECL computation rules through front end screen by business users with authorization functionality.

10

57. Flexibility of dynamic updates on the ECL computation & reporting process. (e.g. reusing the business rule for different jurisdiction ECL computation, assigning the existing methodology for new products from the bank etc).

10

58. To interact with different systems to get the following data required for ECL computation

58.1. Extract the rating data from IRB Rating module 10

58.2. Rating wise Probability of Default 10

58.3. Facility wise Loss given Default 10

58.4. Facility wise CCF 10

58.5. Rating wise tenure specific cumulative probability of default

10

58.6. Account wise standard restructuring data 10

58.7. Account wise SMA data 10

58.8. Account wise technical write off 10

59. To construct/generate account level residual cash flows based on actual repayments in loan accounts and arrive at IND AS balances (future remaining cash flows discounted at EIR) to be used for ECL computation.

10

60. To be able to build future cash flows based on repayment, tenure, interest rate, interest/instalment repayment frequency, original loan amount in cases where the same is not made available directly from any system.

10

61. To compute PD, LGD and CCF parameter in case it is not available from other system.

10

62. To convert TTC PD to PIT PD and vice versa. 10

63. To compute interest in NPA accounts and should be able to create account level GL entry.

10

64. To accept MOC data and reconcile the ECL computation accordingly.

10


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65. To compute Life time PD numbers based on 1 year, 2 year ...PD numbers

10

66. Support transparent, rule driven mechanism to identify significant increase in credit risk (SICR, significant deterioration assessment).

10

67. Solution should provide pre-defined (out of box) rules for IND AS 109 Stage 1, Stage 2 & Stage 3. The rules listed below for stage determination should be supported out of the box:

67.1. Rating Based 10

67.2. LTV Based 10

67.3. Days Past Due Based 10

67.4. New Account Origination Based 10

67.5. Industry Based 10

67.6. Country Based 10

67.7. Approach Based 10

67.8. Credit Status Based (defaulted / impaired) 10

68. Systemic generation of IRR (Internal Rate of Return) based on projected cash flow of loan accounts.

10

69. Ability to incorporate user defined (bank specific) staging rules through the solution front end screen without coding / programming and ability to change the same when required.

10

70. Solution to segregate retail and corporate asset class as per RBI definition taking into aggregate fund based and non fund based exposure for domestic and overseas exposures and further segregate retail and corporate advances into Stage I, stage II and stage III advances as per guidelines.

10

71. To classify an account in stage I to other stages as per regulatory guidelines i.e. standard restructure assets.

10

72. Solution should allow formation of cohorts for collective assessment based on instrument dimensions / characteristics chosen by the bank.

10

73. Solution should able to define bank specific staging rules with complex nested rules and exception rules, for stages 1,2, and 3 at legal entity / LOB/ subsidiary & group levels.

10

74. Solution should allow for modification of stage determination rules by authorized users along with approval functionality (maker-checker).

10

75. Solution should incorporate input data field changes (if any) corresponding to bank specific criteria for stage determination with reference to different portfolios / subsidiary or local regulation related requirements.

10


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76. Solution should allow different staging rules for different legal entity, regions to meet both local & group reporting / disclosure requirements.

10

77. Ability to flag exposures in the system where the stage assignment has not been executed due to missing input data & flexibility to apply default values for missing input data as well as for final stage determination.

10

78. Solution should provide staging movement summary/stage transition reports from one period to next.

10

79. The solution should have the ability to define different business rules regarding the designation of a financial asset as being Stage 1, 2 or 3, including definitions of default. The designation of business rules should be flexible, able to define specific rules at the account / transaction level, as well as on an aggregated level, and incorporate any internal accounting standards. This includes the ability to apply different rules within the same portfolio, segment, product, account, etc. The business Rules engine should be GUI based and configurable by Business User.

10

80. The system should allow the user to define the expected values for each term and define whether the term is an input, intermediate or output variable.

10

81. System should allow user to create one or multiple rule sets. Each rule set would be a combination of rules (Eg: if DPD > 60 days then Stage 2, Rating below BB- then Stage 2) executed in a preference order.

10

82. User should be able to drag drop and change the order in which the rules are executed within a rule set.

10

83. The solution should have the ability to assess the reasonableness of applying the 30/90 days rebuttable presumption. For example, the solution should have the ability to perform certain analysis to determine the viability of rebutting the presumption.

10

84. The solution should have the ability to define different cut-off thresholds in which to determine a significant increase in credit risk.

10

85. The system by default should compute 12m and Lifetime ECL for all accounts. The system should allow dynamic stage allocation and ECL computation without resubmitting of inputs to ECL engine.

10

86. To compute credit risk RWA as per Ind AS guidelines. 10

87. Solution should have below capabilities:

87.1. Lineage - Calculation & data (input, processing, result) 10


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87.2. Audit trail functionality 10

87.3. Online reference information for computation logic used for respective ECL computation steps (read only)

10

88. Should provide the ability to execute the all statistical models in single environment. This includes models for IIND AS 109, Basel etc.

10

89. System should provide the ability to update model parameters, models or inputs required based on change in banks policy decision or whenever required.

10

90. Solution should able to incorporate PIT related models / methodology based on bank specific logics & user defined mapping tables.

10

91. Ability to do model monitoring, manage model repository & support the model life cycle management (e.g. model owners, changes made, approvers, creation date / expiry date etc).

10

92. Solution should support exception handling mechanism with reference to missing data, business logics & generate the reports as a part of ECL computation.

10

93. The solution should have the capacity to capture the different ECL models being developed, tested and deployed, specifically to store the model codes, assumptions and business rules employed, thereby providing an inventory of all models in use for IND AS109 including the ability to illustrate or define the relationship / dependency of the different models. The models along with conditionality should be configurable in the application.

10

94. The solution should be able to accommodate the development process, including capability to define the modelling steps, execute the modelling steps and test conduct goodness-of-fit testing.

10

95. The solution should be able to engage in modelling the term structures of the PD, LGD and EAD (wherever applicable). This includes the ability to engage in multi-year (e.g. 1-year, 3-years, 5-years, etc.) default (PD), loss (LGD) and exposure (EAD) estimates to fulfil the 12-month and lifetime ECL measurement requirements.

10

96. The solution should be able to integrate with any existing development environment, the credit risk models currently employed by the Bank, including internally developed models and or external vendor developed models. This includes Internal Ratings Based (“IRB”) models, internal scorecards / rating models, application and behavioural models.

10


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97. Systems development environment should simulate different assumptions and business rules. The simulation environment should work at a model group, portfolio, product, segment and account levels.

10

98. The solution should allow combination of models, scenarios, cashflows, portfolio, mitigants in a modular fashion as such calculation can be done by combing models of current period with portfolio of previous period. This would be required to do attribution analysis for ECL changes.

10

99. The model implementation codes should be generated by system based on choices made by user.

10

100. The solution should contain a defined model to support the development of ECL / FIRB /IRB models. Additionally, the solution should be flexible in allowing changes to any pre-defined data model, or allow the definition of a new data model. The solution should be capable of automatically adjusting pre-existing models to the new data model.

10

101. The system should be able to store all the data for at least seven years extendable up to 20 Years.

10

102. The solution should allow users to build, validate and deploy PD models based on linear regression, logistic regression and decision tree based methodologies

10

103. The solution should allow users to use statistical methodologies to estimate PD in case of low default portfolios like large corporate.

10

104. The solution should provide the ability to estimates Probability of Default (PD) / long run PDs using internal rating grades and default history across all exposure types as well as Internal loss history, External rating based, Statistical based approaches as per Basel II / RBI Guidelines for IRB approaches (e.g. - as per all RBI / Basel II Guidelines).

10

105. The solution should be capable of computing Through‐the‐cycle PD and Point‐in‐time PD. The system should be capable to convert a PIT PD to TTC PD and vice versa.

10

106. The system should be capable of computing LGD using market based LGD, implied LGD and work‐out method as per the nature, applicability and data availability of credit risk exposures. Further, the system should be able to drill down the LGD estimation into industry wise, vertical wise, product wise, workout method wise, year wise/quarter wise/Other frequencies/, collateral‐wise and offer additional drilldown options and reports.

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107. The solution should support both the Foundation as well as Advanced approaches for collection of LGD data components and estimation of facility wise Loss Given Default (LGD) – both economic LGD and accounting LGD‐ across all exposure types (On and Off Balance sheet exposures), both for defaulted/ restructured accounts.

10

108. System should allow to choose a discount rate for discounting of recovery cash-flows and recovery costs.

10

109. The solution should allow users to build LGD prediction models using suitable statistical models.

10

110. The solution should distinguish between senior and subordinated facilities allocating required LGD to unsecured portion of the facility as per IRB guidelines.

10

111. The solution should provide for effective LGD where the Bank is having other financial/AIRB collaterals and pool of collaterals.

10

112. The system should be able to compute Downturn default weighted LGD as per RBI/ Basel guidelines.

10

113. For estimation of EAD & CCF, system should enable undrawn analysis, UGD (Usage Given Default) analysis.

10

114. The solution should allow users to build, validate and deploy CCF prediction models based on linear regression, logistic regression and clustering.

10

115. The system should have capabilities to capture outstanding and limit information for all revolving and off-balance sheet exposures.

10

116. The system should have capabilities to compute realized CCF (Credit Conversion Factor) for defaulted exposures.

10

117. The solution should allow for forecasting balance amount using cashflow projection (interest and capital) for EMI, non EMI, Amortizing and regular type of loan products.

10

118. The system should support various methodologies for imputing missing values in data.

10

119. The system should support sampling techniques like simple, stratified, random etc.

10

120. Facilitate to create and maintain retail pools (PD, LGD and CCF) as per the definitions of pools.

10

121. The system should enable development of credit scorecards and credit rating models using Linear Regression, Logistic Regression and Clustering.

10

122. The system should provide GUI (Graphical User Interface) to provide the standard scorecard development steps like data cleansing, single factor analysis, multifactor analysis, log-odds scaling and final scorecard generation.

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123. The system should be able to read in any macro economic data (historical and forecasted). This could include but should not be limited to: GDP, Unemployment Rates, Inflation, Crude price and should be able to build forecasting/forward looking models for all the risk parameters.

10

124. System should be able to register multiple sets of scenarios and have user interface to manage/register/de-register a scenario set.

10

125. The model execution should allow forecasting of future balances based on contractual cashflows. The system should be able to read input data for amortizing/irregular cashflows where required.

10

126. System should be able to read all collateral data and allocate collateral against exposures in the most effective/optimized manner.

10

127. System should be able to use homogeneous discrete time and non-homogenous continues time processes for the generation of rating transition matrices to model the credit risk term structures (e.g. multi-year default rates).

10

128. System should be able to use of survival analysis to estimate multi-year default and / or loss experience by means of measuring the occurrence and timing of default events. For example through proportional hazards regression, competing risks models and discrete-time methods.

10

129. Calculation of ECL on the basis of various loss models. 10

130. System should have ability to execute various Vector Auto Regression ("VAR") type models in order to generate forward looking scenarios. Specifically Error Correction Model ("ECM").

10

131. System should be able to deploy models based on simplified approaches for trade receivables and contract assets (within the scope of IFRS 15), and lease receivables (within the scope of IFRS 117).

10

132. System should have ability to perform segmentation analysis to provide both quantitative and qualitative justifications for the segmentation strategy employed. The approaches available for utilization should allow for multi-level segmentation to ensure sufficient granularity.

10

133. The system should provide for collateral pricing and optimal utilization across horizon as part of ECL computation. The system should be able to use all collaterals for IND AS 109 and not restricted to only financial collaterals.

10

134. System should be allowed for users to define logic for ECL computation through a graphical user interface. User should be able to save/modify/delete and store multiple versions of the defined logics.

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135. System should allow for model execution code to be built as initialization block (to be executed once) and main block which should be executed for each scenario/simulation.

10

136. User should be able to explore the portfolio data with drill down capability. The system should be sized to hold the entire portfolio data in memory to be to enable quick drill down and exploration.

10

137. The system should be able to dynamically generate a code for deployment and execution of any of the ECL computation.

10

138. User should be able to select portfolio, scenario and models in any combination and run the same once portfolio, scenarios and models are defined in the system.

10

139. System should allow running of previous month/quarter/years portfolio and should enable generation of attribution analysis from the same i.e. ability to drill down on the cause for change of ECL number.

10

140. System should be able to attribute changes in ECL due to changes in model, Scenarios, new loans originated, prepayment or credit migration over the period.

10

141. ECL Execution logs should be available on the user interface to enable debugging of any of the previously executed ECL runs.

10

142. System should allow users to build custom logics, if required for any pre or post processing required on the ECL data or outputs. This could include aggregation logics/counterparty level logics or account level adjustments.

10

143. The system should provide governance for ECL activities to be carried out by various teams to make the process repeatable, transparent and auditable. The system should provide workflow for orchestration of activities and override of results.

10

144. The solution should be able to condition forward ECL measures at both the parameter level (e.g. PD, LGD and EAD) as well as condition at the estimated ECL level.

10

145. The ability to generate multiple economic scenarios to be used to condition the forward ECL measurement (e.g. to condition the 1-year, 3-years, 5-years ECL estimates). This includes incorporating any internal economic scenarios generated via Stress Testing, capital planning and business planning.

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146. The solution should be able to simulate the impact on ECL arising from different assumptions and economic scenarios. This includes the ability to forecast the ECL measures over "foreseeable horizon". This can vary from a few years to 10 years depending on the expected life of the financial asset. Additionally the simulation should include the ability to "test" new business rules (e.g. segmentation, modelling assumptions, stage allocation rules, etc.) for the purpose of an impact assessment.

10

147. Simulation should include sensitivity type analysis and scenario type analysis to simulate the impact on ECL levels. The solution should be able to accommodate multiple scenarios (including sensitivity assumptions).

10

148. The solution should include the ability to apply ad-hoc adjustments to measured ECL values (at both the ECL parameter level and the estimated loss amount level). The adjustments include management and / or regulator overlays, and prescribed or specific adjustments to the PD, LGD and EAD parameters. Where adjustments have been made to estimated values, the solution should be able to track and keep in record, the specific adjustments made and the impact on final estimated ECL values.

10

149. The ECL engine should support Distributed in-memory processing for large volume of data.

10

150. The ECL engine should support use of commodity hardware for large volume of data.

10

151. The ECL engine should support big data platform for processing of large volume of data.

10

152. Facilitate to arrive at account level undrawn balances for fund and non fund based facilities and respective ECL.

10

153. Calculate income in respect of NPAs by netting existing ECL and arrive at ECL thereof.

10

154. Facilitate to arrive at account level undrawn balances for fund and non fund based facilities and respective ECL.

10

155. Calculate income in respect of NPAs by netting existing ECL and arrive at ECL thereof.

10

156. Solution should be able to generate financial asset wise cash flow (cash flow from the date of inception / date of purchase till the date of redemption/sale on basis of actual repayment as well as on the basis of repayment schedule).

10

157. Solution should be able to capture the master data of all the financial assets so as to facilitate inception level classification as per Ind AS. Master data so captured can be suitably tagged to classify the financial asset as per Ind AS requirement.

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158. Classification of investments in the categories as defined in Ind AS. System should enable classifications of financial assets into three categories i.e. Amortized cost, Fair Value through Other Comprehensive Income (FVOCI) and Fair value through Profit and Loss account (FVTPL).

10

159. Mandatory fields should be added to Security master for such classification, so that securities can be tagged appropriately at the time of purchase.

10

160. At any point of time system should be able to generate the security position report as per new classification.

10

161. System should have all possible conclusions for Business Model embedded in system. Also there should be SPPI feature as Pass/ Fail shall be embedded in system for each security. Logic shall be built in system for classification based on the results of business model and SPPI test for each security/ instrument

10

162. System should have the flexibility to manually select the SPPI and Business model.

10

163. New Chart of Accounts shall be mapped in system which will be as per the requirements of Ind AS

10

164. System to map chart of accounts of Interest Accrued with securities where the classification is amortised cost

10

165. There should be adequate safeguards in the system to notify about restrictions on sale/transfer of securities held under amortised cost category

10

166. Treasury module in the solution to be developed in a manner, which segregates the investment on the parameters of market (primary / secondary).

10

167. Provision to capture the actual purchase price of the securities.

10

168. Solution to map chart of accounts of Interest Accrued with securities where the classification is amortised cost.

10

169. Solution should have flexibility to add financial asset wise upfront fees received / charges paid for calculation of EIR individually / collectively after considering the premium / discount / income /expenses etc. There should be a scope for defining the significant / insignificant income / charges associate with financial assets. A report of such amortized / un amortized income / charges should also be generate.

10

170. System should facilitate automatic fair value calculation of securities.

10

171. Calculating the MTM gain or loss on the securities. Provision to capture MTM portfolio wise (as classified under IND AS) and calculate the resulting unrealised gain / losses.

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172. Solution should compute MTM gain or loss individually as well as collectively for financial assets. Trial balance should reflect separate head for MTM gain or loss as per Ind AS requirement.

10

173. Solution should enable calculation of fair value using level 1 input, level 2 input and level 3 input and generate report showing the fair value of the financial assets. Solution should have flexibility to add such information at inception level or thereafter.

10

174. In case of investment in debt securities classified at FVOCI and amortised cost, transaction cost incurred at the time of investment on such securities needs to be amortised over the life as per EIR. System should facilitate linking of such charges to each investment to which it pertains.

10

175. Solution should capture deal wise discount / premium on the securities acquired and accordingly such discount / premium should be amortised over the life of the security in accordance with Effective interest rate.

10

176. Solution should capture the data of financial assets having redemption premium and the same should be accrued as per EIR or flexible enough to accept the manual feeding of such information financial asset wise.

10

177. System should capture following information for the calculation of premium/ discount amortization at EIR over the life of instrument

177.1. Settlement date 10

177.2. Maturity Date 10

177.3. Redemption Date 10

177.4. Face Value 10

177.5. Face Value per unit 10

177.6. Actual Interest rate 10

177.7. Redemption Value per unit 10

177.8. Interest frequency 10

177.9. Settlement price 10

177.10. Call date 10

177.11. Put date 10

178. System should have tagging of “buy”/ “sell” transactions of a particular security

10

179. System should calculate the Purchase price of security. 10

180. System should run a schedule to calculate cumulative face value of the security taking into consideration all the transactions prior to reporting date.

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181. All “sell” transactions will be reduced from Face value using First in first out method (FIFO) Accordingly, Closing Face value of security to be computed.

10

181.1. System should calculate the Yield (EIR) using the following parameters Settlement date

181.1.1.Maturity Date 10

181.1.2.Actual Interest rate 10

181.1.3.Cost price 10

181.1.4.Redemption Value 10

181.1.5.Interest frequency 10

182. System should calculate the New Price to compute the amortized cost of the securities which will be reported in the balance sheet. Amortized cost will be product of “New Price” and quantity of the security. Quantity of security should be computed using “Closing Face value” of the security as per FIFO method. “New Price” will be calculated using:

182.1. Yield 10

182.2. Current date 10

182.3. Settlement date 10

182.4. Settlement price per unit 10

182.5. Face value per security 10

182.6. Interest rate 10

182.7. Redemption value 10

182.8. Interest frequency 10

182.9. Maturity date 10

183. Cumulative difference between “amortized cost” and “Purchase Cost” is the unamortized Discount, to be debited to relevant GL

10

184. Solution should capture data on real time basis or on daily basis from the above mentioned applications / systems and also able to generate the financial asset position report as and when required as per the Ind AS requirements.

10

185. Solution should generate statement showing comparative reclassification of the financial assets as well as impact summary.

10

186. Solution should generate report showing financial asset wise Call option, Put option, conversion option etc. solution should have flexibility to add such information at inception level.

10

187. Solution should generate the report showing assumptions undertaken for Ind AS accounting.

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188. Solution should able to generate the portfolio transfer / sale / purchase report for the behavioural study from the inception / first time adoption.

10

189. System should be updated to have classification of borrowing as per Ind AS 109.

10

190. System should compute amortised cost of the borrowing as per Effective Interest Rate (EIR) method after taking into account transaction cost and other charges incurred on day 1.

10

191. Solution should be able to link charges at the time of borrowings to each borrowing and recognise the same as per EIR instead of upfront charging to P & L.

10

192. Solution should recognize derivatives at fair value initially and subsequently as per Ind AS 109.

10

193. Solution should generate report on derivative accounting as per Ind AS. System should account for deal wise Positive and Negative MTM separately in Derivative Financial Asset and Derivative Financial Liability respectively.

10

194. System should provide MTM sensitivity analysis to comply with disclosure requirements of Ind AS 107

10

195. Solution should generate report of accounting entries for hedge accounting.

10

196. Solution should account for MTM on IRS designated as hedging and record positive / negative MTM separately deal wise and separate GL required for recording positive and negative MTM on each derivative product.

10

197. Solution should generate detailed report individually as well as collectively for CVA/ DVA calculation wherever applicable

10

198. Solution should compute CVA / DVA based on positive MTM and negative MTM respectively and separate GL required for adjustment related to CVA and DVA.

10

199. For investment accounting Interest to be accounted under the Ind AS books as per the “Yield / EIR” calculated instead of the interest rate of the bond.

10

200. The in-built cashflow engine should also be capable of taking care of market value of banking book assets and liabilities.

10

201. There should be provision within the solution's data model to source and store fair values at account level for investment / treasury book and use it for reporting if required.

10

202. Solution should be able to calculate depreciation as per Ind AS i.e. using the useful life of the asset. Asset Retirement obligation (ARO) to be added to respective assets and depreciation to be charged on it by the system. Present value of obligation to be recognized in balance sheet.

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203. System should be capable of arriving the ARO value based on the following:

203.1. Cost of the asset 10

203.2. Estimated useful life/tenure of the asset 10

203.3. Estimated cost of removal/asset retirement on initial recognition

10

203.4. Rate of borrowing for such asset 10

203.5. Inflation rate 10

204. Solution to support new GL requirements and change in GL mapping as per Ind AS.

10

205. Solution should be able to handle multiple entities 10

206. Solution should have capability to handle multi currencies at entity level and consolidated level

10

207. System should support event-based accounting treatments based on IFRS9

10

208. Solution should be able to generate business events and send to the Bank's Accounting Rule Engine (ARE) to generate accounting entries. Business events should at least contain information such as type of transaction, accounting event code, amount, any other GL dimensions or attributes as required by ARE system, etc. in order to facilitate creation of accounting transactions.

10

209. Solution should have the flexibility to cater for any change/ specific requirements (e.g. change in SBU, product grouping, split of profit centre, change of GL codes and etc.)

10

210. The solution should make it possible to configure accounts code to be in line with the Bank's chart of accounts based on e.g. transaction type, sub-type, sub-portfolio, currency, branch, etc.

10

211. The solution should be able to generate journal entries with assigned DR/CR side of accounts based on posting transactions (EIR/Impairment, provisions, unwinding and interest/fee revenue) with changes in balances as posted amount and pre-configured rules.

10

212. Solution should ensure that each posting transaction should be assigned with account number based on accounts configuration

10

213. Solution should output following components as part postings: transaction type, sub-type, DR/CR account type currency type, positive or negative sign of the transaction.

10

214. To facilitate generation of accounting entries and automate the entire process to the maximum extent so as to avoid / ensure minimal manual interventions.

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215. To generate reports and dash boards as per regulatory (RBI) specifications/disclosure requirements.

10

216. Solution should able to generate report showing the accounting entries passed/ to be passed for Ind AS requirement with adequate justification.

10

217. Solution should facilitate generation of Profit and Loss account, Cash flow statement, Segment reporting, Other Comprehensive Income account, Balance sheet, financial asset ledger etc, Profitability reports (Domestic and Overseas branches), Sector wise non fund based reports, CRAR reports as per the Ind AS requirements.

10

218. Solution should generate the report for recognition / de-recognition of financial assets at any point of time as per the Ind AS requirement with justification.

10

219. Solution should generate report of classification of financial liabilities as per Ind AS requirement.

10

220. Solution should be capable of generating both mandatory and optional reports for internal MIS.

10

221. System should calculate all outputs, i.e. ECL, EIR, Fee amortization / income adjustment number at account level. The same needs to be stored at account level and be made available as accounting entry to be posted as adjustment into the bank's GL.

10

222. Facilitate consolidation & generation of balance sheet of the Banking group.

10

223. User should be able to choose periods on the user interface between which attribution/reconciliation analysis needs to be run.

10

224. Reconciliation should be a readymade feature and not something that requires implementation services, coding or programming.

10

225. Solution should support recording of services offered to the customer as part of income or expense if the charges are waived off/discounted.

10

226. For all the GL codes System should be able to maintain corresponding tax base amount, which can be achieved using:

226.1. Maintenance of all the tax rules in the system 10

226.2. Maintenance of a mapping of GL codes to corresponding tax base amount.

10

227. System should have the capability to provide both book base and tax base amount in a report, if required.

10

228. User should be able to attach files and comments to rule flows on the GUI to enable them to document the reason for changes and any substantiating documentation.

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229. The system should allow for building a workflow process for building, approval and modification of rules to ensure it complies with the banks approval and audit process.

10

230. Ability to change segmentation rules within a system and controlled environment. For example, when changes to business models, launch of new products, restructuring of portfolio, etc. occurs, the solution is flexible in redefining the new segmentation strategy, which will feed into the development of ECL models.

10

231. Ability to define customized business rules that is based on internal significant financial assets segmentation. For example, special accounting rules for significant loans, regulatory treatment of selected financial assets, loss provisions, etc.

10

232. All reports should support drill down capability to individual account / loan level. The reporting tool should support in memory processing such that drill down is available on click only.

10

233. The solution should have pre-defined regulatory disclosure templates and pre-defined management reporting templates which can be readily generated. Where additional disclosures are required, the solution should be flexible and capable of amending defined templates to incorporate the new requirements. This should include the ability to readily define the data requirements to support the new disclosures, within a controlled environment.

10

234. The tool should have the ability to use In-Memory Analytics to enable users to conduct fast, thorough exploration and analysis on all data across different data sources. The offering should have integrated modules for in-memory analytics comprising data preparation, exploration, visualization and administration.

10

235. The tool should provide Self-Service platform without the need to build a semantic metadata layer for End users, thus reducing dependency on IT.

10

236. The tool should provide Scalability and High Performance leveraging cost-effective architecture.

10

237. The tool should allow data to be accessed from any industry standard data source using native connectors and load the same in to memory.

10

238. The tool should allow data load jobs to be scheduled to automate the process of loading data into memory.

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239. The tool should have the ability for Interactive report viewing for information consumers using iOS and Android devices using a native application most popular gestures and capabilities, including zoom, swipe, etc., to optimize ease of use and user engagement.

10

240. The tool should provide support for Mobile Device Management (MDM) integrating with 3rd party technologies.

10

241. Ability to process multiple data files from multiple sources to the defined data model supporting model development. This includes within a system environment, the ability to handle exceptions raised during the Extract, Transform and Load ("ETL") process. The solution should thus include tools, capabilities to assess data quality issues (e.g. missing values, outliers, wrong format, inconsistencies, etc.).

10

242. Solution includes tools to manage the data used for modelling activities including ability to manage data from other / new sources and transform the data from different sources and format into a common data structure and format. Ability to establish a data dictionary to support developmental activities.

10

243. The solution should support data error handling, data substitution or data enrichment rules through a GUI interface which can be configured by business user.

10

244. The tool should provide a Central Metadata Repository to manage the flow and traceability of data and structures.

10

245. The solution includes a single data store and central reference on the data requirements necessary to support modelling activities.

10

246. The Tool should provide for Integrated workflow scheduling, automatic load balancing and grid computing support.

10

247. The tool should provide for creation of user-defined external transformation functions.

10

248. The tool should provide pre-build functionalities for the following:

248.1. Financial Transformations 10

248.2. Mathematical Transformations 10

248.3. Statistical Computations 10

248.4. Should provide intuitive Graphic 10

249. The tool should have documentation available in the form of notes.

10

250. The tool should have enhanced mapping features that includes intelligent handling of data type conversions, easy and selectable customized mappings, and controlled propagation of changes to mappings.

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251. The tool should have the ability to easily capture and display performance information such as real time, CPU time, memory use, input/output, and record count data, with the ability to display this information as a table or as a graph.

10

252. System shall be able to facilitate bulk data movement. 10

253. System shall be able to join data from multiple sources and support for concurrent processing of multiple source data streams, without writing procedural code.

10

254. System shall be able to check incoming data for quality, reliability, consistency and validity, and then transform as required.

10

255. System shall facilitate data profiling based on dynamic, user defined validation rules and support identification of user defined „events‟ to trigger alerts (through email reports) to authorities.

10

256. System shall support In-memory data handling. 10

257. The solution should be able to keep the historical record of impairment trend for analysis at least for past 10 Years.

10

258. The solution should have the capability to automate the reporting of differences due to changes in the models vs. re-calibration of the models. The system shall calculate the quantification effect due to the change in business models (if it fits in exceptional cases)

10

259. The solution should have the capability to reconcile differences between the capital calculations and the IFRS 9 / IND AS calculations.

10

260. The solution should be able to generate accounting entries for the allowances on a granular level allowing the accounting positions to be used for IFRS 7 reporting.

10

261. The solution should cover the disclosure requirements as set out by IFRS 9. For example:

261.1. A report based on segment, rating grade and stage, retail pools

10

261.2. A report focused on stage transitions, 10

261.3. A report showing the main drivers for each segment, 10

261.4. A report showing the different elements of the expected loss calculation, such as gross amount , accrued interest and impairment loss,

10

261.5. A balance report showing recoveries, impairment loss, accrued interest and write offs.

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262. The solution should have a standard reports build-in as required by IFRS 9. Please provide the full list of IFRS 7 and 9 disclosures that is part of the solution. System should be able to provide reporting formats as prescribed by RBI as and when prescribed and incorporate differences if any.

10

263. The solution should have the ability to produce IFRS 7 & 9-compliant disclosures for management reporting as defined by different business users

10

264. The solution should support the new disclosures requirement under IFRS 7 e.g. the new ECL reconciliation (movement among the stages), total carrying amount of stage 1 to stage 2/3 and stage 2/3 to 1 and others as required from time to time

10

265. The solution should generate credit quality analysis by credit risk rating grades, the gross carrying amount of financial assets and the exposure to credit risk on loan commitments and financial guarantee contracts. Financial assets include: loans & advances at amortized cost, debt investment securities at amortized cost, debt investment securities at FVOCI.

10

266. The solution should generate reconciliations arising from ECL from opening to closing balance by class of financial instrument and products.

10

267. The solution should generate reconciliations of changes in the net carrying amount of credit-impaired loans and advances.

10

268. The solution should generate the contractual amount outstanding on financial assets that were written off during the reporting period and are still subject to enforcement activity.

10

269. The solution should generate modified financial assets reports: a) amortized cost before modification b) net modification gain or loss recognized for financial assets.

10

270. The solution should generate concentrations of credit risk reports by sector and by geographic location.

10

271. The solution should allow users to perform drill down for details & analysis from the disclosure reports.

10

272. The solution should allow custom disclosure report formats created by users to be plugged-in for report creation.

10

273. The solution should allow additional disclosure reports to be tailored to internal management reporting.

10

274. The solution should have the ability to compute the gain/loss incurred upon any type of type of modification to the instruments i.e. comparison between the new discounted cash flows (using OEIR) vs. original discounted cash flows before restructuring.

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275. The solution should have the ability to compute the gain/loss incurred upon any type of modification to the instruments i.e. comparison between the new discounted cash flows (using OEIR) vs. original discounted cash flows before restructuring.

10

276. The solution should allow report format configuration where the user can define the dimensions of each report.

10

277. The solution should allow the scheduled generation of reports and allow configuration of the scheduler to the following but not limit to: a) Monthly, b) Quarterly, c) Yearly

10

278. The solution should have the ability to create reports in multi currencies at user discretion.

10

279. The solution should be able to provide consolidated reports of multi entities.

10

280. Solution should allow users to create reports as pr their requirement - It should be possible to create reports based on all the data available in the system. System should allow flexible ways for user to create reports under authorization scheme.

10

281. At least either of the options should be allowed:

281.1. Option to create reports definitions using a form of a transparent script language (e.g. SQL) and be able to state the following:

10

281.2. Content of the reporting, i.e. fields, aggregating functions, scope (e.g. particular Risk Portfolio);

10

281.3. Groups of users authorized to view the particular report;

10

281.4. Approach to generation (automatic or on demand generation);

10

281.5. Parameters of the report (i.e. what information should be indicated by a User generating the report, e.g. date of data).

10

281.6. Option to create report definitions using a report wizard that utilizes a predefined set of data.

10

281.7. It should be possible to export reports in any form of files required by the Bank directly from GUI

10

282. Reporting

282.1. Provision related

282.1.1.Allowance & Provision by Line of Business 10

282.1.2.Allowances - Stage-wise 10

282.1.3.Provision - Stage-wise 10

282.1.4. Stage Reassignment Movements - changes in provision due to manual stage re-assignments

10

282.1.5.ECL Variance Across Runs by Line of Business 10

282.1.6.Recoveries and write off 10


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282.1.7.Segment Wise Allowance and Provision 10

282.1.8.Stressed provisions Across Business Lines 10

282.1.9.Provision comparison Across Business Lines 10

282.2. Stage Determination Related

282.2.1.Stage Classification 10

282.2.2.Stage Classification by Line of Business 10

282.2.3.Stage Transition Matrix 10

282.2.4.Stage Classification Trend 10

282.2.5.Stage Comparison 10

282.2.6.Stage Classification by Product Type 10

282.2.7.Stage Classification by Customer Type 10

282.2.8. All the reports on stage determination should be available post manual reassignment separately

10

282.3. Cohorts Composition

282.3.1. Cohorts Composition across Stages 10

282.3.2. Proportion of Cohorts and Non Cohorts in Stage Processing

10

282.3.3. ECL Cohorts Composition across Stages 10

282.4. Trend Analysis

282.4.1. Allowance & Provision Trend 10

282.4.2. Allowance Trend - Stage-wise 10

282.4.3. Provision Trend - Stage-wise 10

282.4.4. Allowance and Provision Trend - POCI Accounts - Absolute and Percentage Terms

10

282.4.5. Allowances for Credit losses by Line of Business 10

282.5. Credit Quality Analysis - the reports are required to identify if there is consistency in quality of the assets; whether the volume of ECL is commensurate with its corresponding credit quality grade and stage by portfolio

282.5.1. Amortized Cost Portfolio 10

282.5.2. FVOCI Portfolio 10

282.5.3. Portfolio Composition across Various Classification 10

282.5.4. Carrying Amount across Credit Ratings 10

282.5.5. Account Classification Reassignments 10

282.6. Concentration Analysis

282.6.1. ECL Concentration across Line of Business 10

282.6.2. ECL Concentration across Customer Type 10


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282.6.3. Concentration across Ratings 10

282.6.4. Concentration across DPD Bands 10

282.6.5. Concentration across 12 Month PD Band 10

282.6.6. Concentration across Credit Score 10

282.6.7. Vintage Analysis 10

282.7. Others:

282.7.1. Historical Average Transition Matrix – Wholesale 10

282.7.2. Historical Average Transition Matrix – Retail 10

282.7.3. Predicted Transition Matrix – Wholesale 10

282.7.4. Predicted Transition Matrix – Retail 10

282.7.5. Impaired Assets across Business Lines 10

282.7.6. Loss Forecast for Wholesale Exposures 10

282.7.7. Loss Forecast for wholesale exposures by Time period 10

282.7.8. Loss Forecast for Retail Exposures 10

282.7.9. Loss Forecast for Retain Exposures by Time Period. 10

282.8. Reconciliation - ECL Reconciliation Analysis: should provide a visual description of the ECL movements between two reporting dates.

10

282.9. IFRS 7 reporting 10

282.10. Financial reporting – Statutory reporting to RBI such as

282.10.1. RBS Returns, OSMOS Returns 10

282.10.2. Form A 10

282.10.3. SFR III D 10

282.10.4. Form VIII 10

282.10.5. Form X 10

282.10.6. DSB (Monthly, Quarterly) 10

282.10.7. Basic Statistical Returns VII 10

282.10.8. Basic Statistical Returns II 10

282.10.9. Basic Statistical Returns IV 10

282.10.10. Any Other regulatory reports prescribed by RBI

282.11. MIS Reporting – Reporting for expenses and revenues, profitability etc at:

282.11.1. Branch level 10

282.11.2. Regional level 10

282.11.3. Central office level 10

282.11.4. Product level 10


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282.11.5. Customer level 10

282.11.6. Account level 10

282.11.7. Employee level 10

282.11.8. Profit centre and cost centre level 10

282.12. Any other reports as required by the Bank.

283. Solution should be able to implement the following accounting standards:-

283.1. Presentation of Financial Statement

283.1.1. IND AS1 - Presentation of Financial Statement 10

283.1.2. IND AS7 - Statement of Cash Flows 10

283.1.3. IND AS8 – Accounting Policies, changes in Accounting Estimates and Errors.

10

283.1.4. IND AS10 –Events after the reporting period. 10

283.1.5. IND AS33 – Earning Per Share 10

283.1.6. IND AS 34- Interim Financial Reporting 10

283.2. Assets

283.2.1. IND AS2 – inventory 10

283.2.2. IND AS16 - property plant and equipment 10

283.2.3. IND AS17 –Leases 10

283.2.4. IND AS20 - Govt. Grants 10

283.2.5. IND AS23 - Borrowing cost 10

283.2.6. IND AS36- Impairment of assets 10

283.2.7. IND AS38 - Intangible assets 10

283.2.8. IND AS40 - Investment property 10

283.2.9. IND AS105 - Non-current assets held for sale and discontinued operations

10

283.3. Liabilities and expenses

283.3.1. IND AS 12- Income tax 10

283.3.2. IND AS 19- Employee Benefit 10

283.3.3. IND AS 37 - Provision, contingent liabilities and contingent assets

10

283.3.4. IND AS 102 - Share Based Payments 10

283.4. Incomes

283.4.1. IND AS 11 – Construction contracts, IND AS 18- Revenue, IND AS 115- Revenue from contracts with customers

10

283.5. Disclosure Standards

283.5.1. IND AS 24- Related Party Disclosures 10


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283.5.2. IND AS 108 – Operating Segments 10

283.6. Industry /Economy Standards

283.6.1. IND AS 21 – The effects of changes in Foreign Exchange Rates

10

283.6.2. IND AS 29- Financial Reporting in hyperinflationary economies

10

283.6.3. IND AS 41 – Agriculture 10

283.6.4. IND As 114 – Regulatory Deferral Accounts 10

283.6.5. IND AS 104 – Insurance Contracts 10

283.6.6. IND AS 106- Exploration for and evaluation of mineral resources

10

283.7. Financial Instruments

283.7.1. IND AS 32 – Financial Instruments (Presentation) 10

283.7.2. IND AS 107- Financial Instruments (Disclosure Requirements)

10

283.7.3. IND As 109- Financial Instruments 10

283.7.4. IND AS 113 - Fair Value Measurements 10

283.8. Business Combination and Consolidation

283.8.1. IND AS 110 – Consolidated Financial Statements 10

283.8.2. IND AS 27 – Separate Financial Statement 10

283.8.3. IND AS 28 – Investments in Associates and Joint Ventures

10

283.8.4. IND AS 111 – Joint Arrangements 10

283.8.5. IND AS 112 – Disclosure of Interests in other entities. 10

283.8.6. IND As 103 – Business Combination 10

283.8.7. IND AS 101 – First Time adoption of Indian Accounting Standards

10

Total 4520

Legends: A – Available, C-Customizable, NA – Not Available Mark every feature as per legends. Place: Date: Signature: Name & Designation: Business Address:


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53. Annexure F – Un-Priced Indicative Commercial Bid

Note:

a. TCO is for five years including one year warranty, four years ATS for post warranty and after go-live and same will be frozen for 5 years.

b. The price quoted should be inclusive of Cost of deliverables, Enterprise License, installation, customization, configuration, maintenance and support of Solution for Implementation of Indian Accounting Standards as per Bank‟s requirement.

c. For each of the above items provided the bidder is required to provide the cost for

every line item where the bidder has considered the cost in commercial bid.

SN Requirement Capital Cost in (Rs.)

Recurring Cost (ATS (Between 15-18%))

Complianc

e (Y/N)

1st Yr Cost (Rs.)

2nd Yr Cost (Rs.)

3rd Yr Cost (Rs.)

4th Yr Cost (Rs.)

5th Yr Cost (Rs.)

Total (Rs.)

1 Cost of Ind AS software solution with Unlimited Enterprise Licenses

XXX

NA

XXX

XXX

XXX

XXX

XXX

2 Development, Implementation and Customisation cost of Ind AS software solution covering all functional requirement

XXX

NA

NA NA NA NA NA

3 Cost of Database Licenses (In case proposed database is Oracle then, Database cost to be indicated as Zero)

XXX NA XXX XXX XXX XXX XXX

4 Cost of ETL software solution with Enterprise License

XXX

NA

XXX

XXX

XXX

XXX

XXX

5 Cost of two onsite resources for Ind AS software solution from go-live date.

NA

XXX

XXX

XXX

XXX

XXX

XXX

Total Cost

XXX

XXX

XXX

XXX

XXX

XXX

XXX

Total Cost to Ownership (TCO) for 5 Years

IN WORDS:


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d. The bidder needs to clearly indicate if there are any recurring costs included in the above bid and quantify for the same. In the absence of this, the bidder would need to provide the same without any charge.

e. If the cost for any line item is indicated as zero then it will be assumed by the Bank

that the said item is provided to the Bank without any cost. f. The ATS charges per annum should be between 15 to 18% of the cost of software

components.

g. All Deliverables to be supplied as per RFP requirements provided in the tender.

h. Bank will not pay any labor charges for transportation, Road Permit, installation of software, items separately. All such costs, if any, should be absorbed in the above TCO.

i. The prices quoted by the bidder shall be exclusives of all applicable taxes i.e. GST

(SGST, CGST & IGST). GST will be paid on actual on production of original invoice. j. Bidder has to show the bifurcation/details of applicable GST (CGST/SGST/IGST) in

every invoice.

k. The rate should be valid for 5 years from the date of go-live of project.

l. The price quoted should be inclusive of Cost of delivery of software, implementation/commissioning, Maintenance of deliverables as per Bank‟s requirement.

m. The bidder has to make sure all the arithmetical calculations are accurate. Bank will not be held responsible for any incorrect calculations.


Place: Name & Designation & e-mail id:

Date: Business Address:


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54. Annexure F (A) - Indicative Commercial Bid

Note:

a. TCO is for five years including one year warranty, four years ATS for post warranty and after go-live and same will be frozen for 5 years.

b. The price quoted should be inclusive of Cost of deliverables, Enterprise License, installation, customization, configuration, maintenance and support of Solution for implementation of Indian Accounting Standards as per Bank‟s requirement.

c. For each of the above items provided the bidder is required to provide the cost for

every line item where the bidder has considered the cost in commercial bid.

SN Requirement Capital Cost in (Rs.)

Recurring Cost (ATS (Between 15-18%))

1st Yr Cost (Rs.)

2nd Yr Cost (Rs.)

3rd Yr Cost (Rs.)

4th Yr Cost (Rs.)

5th Yr Cost (Rs.)

Total (Rs.)

1 Cost of Ind AS software solution with Unlimited Enterprise Licenses

NA

2 Development, Implementation and Customisation cost of Ind AS software solution covering all functional requirement

NA

NA NA NA NA NA

3 Cost of Database Licenses (In case proposed database is Oracle then, Database cost to be indicated as Zero)

NA

4 Cost of ETL software solution with Enterprise License

NA

5 Cost of two onsite resources for Ind AS software solution from go-live date.

NA

Total Cost

Total Cost to Ownership (TCO) for 5 Years

IN WORDS:


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d. The bidder needs to clearly indicate if there are any recurring costs included in the above bid and quantify for the same. In the absence of this, the bidder would need to provide the same without any charge.

e. If the cost for any line item is indicated as zero then it will be assumed by the Bank

that the said item is provided to the Bank without any cost. f. The ATS charges per annum should be between 15 to 18% of the cost of software

components.

g. All Deliverables to be supplied as per RFP requirements provided in the tender.

h. Bank will not pay any labor charges for transportation, Road Permit, installation of software, items separately. All such costs, if any, should be absorbed in the above TCO.

i. The prices quoted by the bidder shall be exclusives of all applicable taxes i.e. GST

(SGST, CGST & IGST). GST will be paid on actual on production of original invoice. j. Bidder has to show the bifurcation/details of applicable GST (CGST/SGST/IGST) in

every invoice.

k. The rate should be valid for 5 years from the date of go-live of project.

l. The price quoted should be inclusive of Cost of delivery of software, implementation/commissioning, Maintenance of deliverables as per Bank‟s requirement.

m. The bidder has to make sure all the arithmetical calculations are accurate. Bank will not be held responsible for any incorrect calculations.


Place: Name & Designation & e-mail id:

Date: Business Address:


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55. Annexure G - Reference Site Details

The reference sites submitted must be necessarily of those Banks/Companies where the bidder has been awarded the contract prior to date of Issuance of this RFP. For those references where the offered solution is accepted but implementation is not started, the acceptance should be valid as on the last date for submission of bids at Union Bank of India. Please provide reference details in the format defined below:

Particulars Response

Name of the Bank/ Financial Institution

Country of Operation

Address of the Organization

Date of commencement of Project

Date of completion of Project (if completed)

Status (completed/ in progress) Scope of Work for Solution

Name of the contact person for reference

Contact details of contact person

Project Details a. Operating System b. Application Software c. Network Topology d. Programming language e. Middleware f. Security features g. Maintenance & support

(Enclose necessary documentary proof)

* Provide Information in respect of at least 1 major customer who fulfills the qualification Criteria. References may be enclosed from the customers from the above.



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56. Annexure H - Financial Position of Bidder for Last 3 Financial Years

(In Rs. Crore)

Particular 2018-19 2017-18 2016-17

Turnover

Operating Profit

Net Profit (Profit After Tax)

Note: Enclose

1. Copies of Audited Balance Sheets and P&L statements along with enclosures for last 3 financial years

2. Copies of Articles of association and Memorandum of Association 3. Copies of certificate of incorporation/certificate of commencement of Business



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57. Annexure J – Project Timelines

Sr. No

Activities Duration Compliance (Y/N)

5. SRS of Indian Accounting Standards (IndAS) 1 month

6. Installation, integration and Customization & Development of IndAS Software Solution

5 months

7. User Acceptance Test, Migration of data and Pilot Run 2 months

8. Full Project implementation/documentation/training and Go-live

1 month

Total 9 months



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58. Annexure K - Pre-Contract Integrity Pact

Tender Ref. No:…….

INTEGRITY PACT

Whereas Union Bank of India having its registered office at Union Bank Bhavan, 239,

Vidhan Bhavan Marg, Nariman Point, Mumbai, India -400 021 acting through its ………………

Department, represented by General Manager / Dy. General Manager hereinafter referred

to as the Buyer and the first party, proposes to procure (Name or category of the

Equipment, services, etc.) hereinafter referred to as Stores and / or Services.

And

M/s_____________________________ represented by_____________ Chief Executive

Officer, (which term, unless expressly indicated by the contract, shall be deemed to

include its successors and its assignee), hereinafter referred to as the bidder/seller and

the second party, is willing to offer/has offered the Stores and / or Services.

2. Whereas the Bidder/Seller is a private company/public company/

/partnership/registered export agency, constituted in accordance with the relevant law

in the matter and the BUYER is a Public Sector Undertaking and registered under

Companies Act 1956. Buyer and Bidder/Seller shall hereinafter be individually referred to

as “Party” or collectively as the “parties”, as the context may require.

3. Preamble

Buyer has called for tenders under laid down organizational procedures intending to enter

into contract /s for supply / purchase / etc of __________________ and the Bidder

/Seller is one amongst several bidders /Proprietary Vendor /Customer Nominated

Source/Licensor who has indicated a desire to bid/supply in such tendering process. The

Buyer values and takes primary responsibility for values full compliance with all relevant

laws of the land, rules, regulations, economic use of resources and of fairness /

transparency in its relations with its Bidder (s) and / or Seller(s).

In order to achieve these goals, the Buyer will appoint Independent External Monitor(s)

(IEM) in consultation with Central Vigilance Commission, who will monitor the tender

process and the execution of the contract for compliance with the principles mentioned

above.


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4. Commitments of the Buyer

4. 1 The Buyer commits itself to take all measures necessary to prevent corruption and

fraudulent practices and to observe the following principles:-

(i) No employee of the Buyer, personally or through family members, will in

connection with the tender, or the execution of a contract demand, take a

promise for or accept, for self or third person, any material or immaterial

benefit which the person is not legally entitled to.

(ii) The Buyer will during the tender process treat all Bidder(s) /Seller(s) with

equity and reason. The Buyer will in particular, before and during the tender

process, provide to all Bidder (s) /Seller(s) the same information and will not

provide to any Bidders(s) /Seller(s) confidential /additional information

through which the Bidder(s) / Seller(s) could obtain an advantage in relation to

the process or the contract execution.

(iii) The Buyer will exclude from the process all known prejudiced persons.

4.2 If the Buyer obtains information on the conduct of any of its employees which is a

criminal offence under the Indian Legislation Prevention of Corruption Act 1988 as

amended from time to time or if there be a substantive suspicion in this regard, the

Buyer will inform to its Chief Vigilance Officer and in addition can initiate disciplinary

action.

5 Commitments of the Bidder(s) /Seller(s):

5.1 The Bidder(s)/ Seller(s) commit itself to take necessary measures to prevent

corruption. He commits himself to observe the following principles during his

participation in the tender process and during the contract execution.

(i) The Bidder(s) /Seller(s) will not directly or through any other persons or firm,

offer promise or give to any of the Buyer‟s employees involved in the tender

process or the execution of the contract or to any third person any material or

other benefit which he / she is not legally entitled to, in order to obtain in

exchange any advantage during the tendering or qualification process or during

the execution of the contract.

(ii) The Bidder(s) /Seller(s) will not enter with other Bidders / Sellers into any

undisclosed agreement or understanding, whether formal or informal. This

applies in particular to prices, specifications, certifications, subsidiary


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contracts, submission or non submission of bids or any other actions to restrict

competitiveness or to introduce cartelization in the bidding process.

(iii) The bidder(s) /Seller(s) will not commit any offence under the Indian

legislation, Prevention of Corruption Act, 1988 as amended from time to

time. Further, the Bidder(s) /Seller(s) will not use improperly, for purposes of

competition or personal gain, or pass on to others, any information or

document provided by the Buyer as part of the business relationship,

regarding plans, technical proposals and business details, including

information constrained or transmitted electronically.

(iv) The Bidder(s) /Seller(s) shall ensure compliance of the provisions of this

Integrity Pact by its sub-supplier(s) / sub-contractor(s), if any, Further, the

Bidder /Seller shall be held responsible for any violation/breach of the

provisions by its sub-supplier(s) /Sub-contractor(s).

5.2 The Bidder(s) /Seller(s) shall ensure compliance of the provisions of this Integrity Pact

by its sub-supplier(s) / sub-contractor(s), if any, Further, the Bidder /Seller shall be held

responsible for any violation /breach of the provisions by its sub-supplier(s) /sub-

contractor(s).

5.3 The Bidder(s) /Seller(s) will not instigate third persons to commit offences outlined

above or be an accessory to such offences.

5.4 Agents / Agency Commission

The Bidder /Seller confirms and declares to the Buyer that the bidder/Seller is the

original manufacturer/authorized distributor / stockiest of original manufacturer or Govt.

Sponsored /Designated Export Agencies (applicable in case of countries where domestic

laws do not permit direct export by OEMS of the stores and /or Services referred to in this

tender / Offer / contract / Purchase Order and has not engaged any individual or firm,

whether Indian or Foreign whatsoever, to intercede, facilitate or in any way to

recommend to Buyer or any of its functionaries, whether officially or unofficially, to the

award of the tender / contract / Purchase order to the Seller/Bidder; nor has any amount

been paid, promised or intended to be paid to any such individual or firm in respect of

any such intercession, facilitation or recommendation. The Seller / Bidder agrees that if

it is established at any time to the satisfaction of the Buyer that the present declaration

is in anyway incorrect or if at a later stage it is discovered by the Buyer that the Seller

incorrect or if at a later stage it is discovered by the Buyer that the Seller/Bidder has

engaged any such individual /firm, and paid or intended to pay any amount, gift, reward,


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fees, commission or consideration to such person, party, firm or institution, whether

before or after the signing of this contract /Purchase order, the Seller /Bidder will be

liable to refund that amount to the Buyer. The Seller will also be debarred from

participating in any RFP / Tender for new projects / program with Buyer for a minimum

period of five years. The Buyer will also have a right to consider cancellation of the

Contract / Purchase order either wholly or in part, without any entitlement of

compensation to the Seller /Bidder who shall in such event be liable to refund agents /

agency commission payments to the buyer made by the Seller /Bidder along with interest

at the rate of 2% per annum above LIBOR (London Inter Bank Offer Rate) (for foreign

vendors) and Base Rate of SBI (State Bank of India) plus 2% (for Indian vendors). The

Buyer will also have the right to recover any such amount from any contracts / Purchase

order concluded earlier or later with Buyer.

6. Previous Transgression

6.1 The Bidder /Seller declares that no previous transgressions have occurred in the last

three years from the date of signing of this Integrity Pact with any other company in any

country conforming to the anti corruption approach or with any other Public Sector

Enterprise in India that could justify Bidder‟s /Seller‟s exclusion from the tender process.

6.2 If the Bidder /Seller makes incorrect statement on this subject, Bidder /Seller can be

disqualified from the tender process or the contract, if already awarded, can be

terminated for such reason without any liability whatsoever on the Buyer.

7. Company Code of Conduct

Bidders /Sellers are also advised to have a company code of conduct (clearly rejecting

the use of bribes and other unethical behavior) and a compliance program for the

implementation of the code of conduct throughout the company.

8. Sanctions for Violation

8.1 If the Bidder(s) /Seller(s), before award or during execution has committed a

transgression through a violation of Clause 5, above or in any other form such as to put

his reliability or credibility in question, the Buyer is entitled to disqualify the Bidder(s)

/Seller (s) from the tender process or take action as per the procedure mentioned herein

below:

(i) To disqualify the Bidder /Seller with the tender process and exclusion from

future contracts.


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(ii) To debar the Bidder /Seller from entering into any bid from Buyer for a period

of two years.

(iii) To immediately cancel the contract, if already signed /awarded without any

liability on the Buyer to compensate the Bidder /Seller for damages, if any.

Subject to Clause 5, any lawful payment due to the Bidder/Seller for supplies

effected till date of termination would be made in normal course.

(iv) To encash EMD /Advance Bank Guarantees / Performance Bonds / Warranty

Bonds, etc. which may have been furnished by the Bidder /Seller to the

extent of the undelivered Stores and / or Services.

8.2 If the Buyer obtains Knowledge of conduct of Bidder /Seller or of an employee or

representative or an associate of Bidder /Seller which constitutes corruption, or if the

Buyer has substantive suspicion in this regard, the Buyer will inform to its Chief Vigilance

Officer.

9. Compensation for Damages

9.1 If the Buyer has disqualified the Bidder(s) /Seller(s) from the tender process prior to

the award according to Clause 8, the Buyer is entitled to demand and recover the

damages equivalent to Earnest Money Deposit in case of open tendering.

9.2 If the Buyer has terminated the contract according to Clause 8, or if the Buyer is

entitled to terminate the contract according to Clause 8, the Buyer shall be entitled to

encash the advance bank guarantee and performance bond / warranty bond, if furnished

by the Bidder / Seller, in order to recover the payments, already made by the Buyer for

undelivered Stores and / or Services.

10. Price Fall Clause

The Bidder undertakes that it has not supplied /is not supplying same or similar

product/systems or subsystems at a price lower than that offered in the present Bid in

respect of any other Ministry /Department of the Government of India or PSU or Coal

India Ltd and its subsidiaries during the currency of the contract and if it is found at any

stage that same or similar product /Systems or Subsystems was supplied by the Bidder to

any other Ministry /Department of the Government of India or a PSU or any Public Sector

Bank at a lower price during the currency of the contract, then that very price will be

applicable to the present case and the difference in the cost would be refunded by the

Bidder to the Buyer, if the contract has already been concluded”.


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11. Independent External Monitor(s)

11.1 The Buyer has appointed independent External Monitors for this Integrity Pact in

consultation with the Central Vigilance Commission (Names and Addresses of the Monitors

to be given in RFP).

11.2 As soon as the integrity Pact is signed, the Buyer shall provide a copy thereof, along

with a brief background of the case to the independent External Monitors.

11.3 The Bidder(s) / Seller(s) if they deem it necessary, May furnish any information as

relevant to their bid to the Independent External Monitors.

11.4 If any complaint with regard to violation of the IP is received by the buyer in a

procurement case, the buyer shall refer the complaint to the Independent External

Monitors for their comments / enquiry.

11.5 If the Independent External Monitors need to peruse the records of the buyer in

connection with the complaint sent to them by the buyer, the buyer shall make

arrangement for such perusal of records by the independent External Monitors.

11.6 The report of enquiry, if any, made by the Independent External Monitors shall be

submitted to MD & CEO, Union Bank Of India, Union Bank Bhavan, Vidhan Bhavan Marg,

Nariman Point, Mumbai -21 within 2 weeks, for a final and appropriate decision in the

matter keeping in view the provision of this Integrity Pact.

12. Law and Place of Jurisdiction

This Integrity Pact is subject to Indian Laws, and exclusive Jurisdiction of Courts at

Mumbai, India.

13. Other Legal Actions

The actions stipulated in this Integrity Pact are without prejudice to any other legal

action that may follow in accordance with the provision of the extant law in force

relating to any civil or criminal proceedings.

14. Integrity Pact Duration.

14.1 This Integrity Pact begins when both parties have legally signed it. It expires for the successful Bidder / Seller 10 months after the last payment under the

contract, and for all other Bidders / Sellers within 6 months form date of placement


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of order / finalization of contract.

14.2 If any claim is made/ lodged during this time, the same shall be binding and continue to be valid despite the lapse of this Integrity Pact as specified above, unless it is discharged / determined by MD & CEO, Union Bank of India. 14.3 Should one or several provisions of this Integrity Pact turn out to be invalid, the reminder of this Integrity Pact remains valid. In this case, the parties will strive to come to an agreement to their original intentions.

15 Other Provisions

15.1 Changes and supplements need to be made in writing. Side agreements have not been made. 15.2 The Bidders (s)/ Sellers (s) signing this IP shall not initiate any Legal action or approach any court of law during the examination of any allegations/complaint by IEM and until the IEM delivers its report. 15.3 In view of nature of this Integrity Pact, this Integrity Pact shall not be terminated by any party and will subsist throughout its stated period. 15.4 Nothing contained in this Integrity Pact shall be deemed to assure the bidder / Seller of any success or otherwise in the tendering process. 16. This Integrity Pact is signed with Union Bank of India exclusively and hence shall not be treated as precedence for signing of IP with MoD or any other Organization. 17. The Parties here by sign this Integrity Pact at________________on ________________ (Seller/Bidder) and ___________on __________ (Buyer)

BUYER BIDDER * /SELLER* Signature: Signature: General Manager/Dy G M, Authorized Signatory (*) Union Bank of India, …………………………..Division


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Date: Date: Stamp: Stamp: Witness Witness 1. ______________________ 1. ______________________

______________________ ______________________ 2.______________________ 2. ______________________ ______________________ ______________________ (*) – Authorized signatory of the company who has also signed and submitted

the main bid.


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59. Annexure L – Details of Hardware & Operating System Requirement

The Bidder must specify complete details of Hardware and other systems required for successful implementation of the offered Solution, in the following format:

Sr. No.

Module/ Item Module Description Requiremen

t Quantity

1 Hardware - Bank‟s on premise cloud infrastructure

2 Operating System (Windows Server 2012 or Red Hat Linux on Bank‟s on premise cloud infrastructure)

3 Database*

Note:

1. Please mention Make / Model (if any), type and number of processors,

Memory, bus speed, hard disk & Operating System number of users,

license type, version etc.

* If proposed solution supports Oracle Database, Bank is having ULA

(Unlimited License Agreement) for Oracle database and same will be

provided by bank. Place: Date: Signature: Name & Designation: Business Address:


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60. Annexure M – Format of Performance Bank Guarantee (Covering Delivery obligations) NOTE:

1. This guarantee should be furnished by a Nationalized Bank / Scheduled Bank, other than Union Bank of India, as per the following format.

2. This bank guarantee should be furnished on stamp paper value as per Stamp Act. (not less than Rs.500/-).

3. The stamp paper should be purchased either in the Name of the Bank executing the Guarantee or in the name of Union Bank of India.

4. This Bank Guarantee should be furnished within 30 days from the date of purchase order or the delivery period prescribed in the purchase order whichever is earlier.

5. This Bank Guarantee should be directly sent to the Purchaser by the Issuing Bank under Registered Post with Acknowledge Due.

To Union Bank of India, 5th floor, Technology Centre, Union Bank of India, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Andheri (East), Mumbai‐400072. Dear Sir, In consideration of Union Bank of India, 5th floor, Technology Centre, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Andheri (East), Mumbai‐400072, placing an order for Implementation of & on __________________ having registered office at _____________________ (hereinafter called the vendor) as per the purchase contract entered into by the vendor vide purchase contract no ____________ dated __________ (hereinafter called the said contract), we ________________( Name of the Guarantor Bank), a 'schedule bank', issuing this guarantee through its branch at __________ presently located at __________________________________________________________ (hereinafter called the bank), do hereby irrevocably and unconditionally guarantee the due performance of the vendor as to the Procurement of Solution for Implementation of Indian Accounting Standard. If the said vendor fails to implement or maintain the system or any part thereof as per the contract and on or before the schedule dates mentioned therein, we _____________ (Name of the Guarantor Bank), do hereby unconditionally and irrevocably agree to pay the amounts due and payable under this guarantee without any demur and merely on demand in writing from you during the currency stating that the amount claimed is due by way of failure on the part of the vendor or loss or damage caused to or suffered / or would be caused to or suffered by you by reason of any breach by the said vendor of any of the terms and conditions of the said contract, in part or in full. Any such demand made on us shall be conclusive as regards the amount due and payable under this guarantee.


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We ______________( Name of the Guarantor Bank), further agree that this guarantee shall continue to be valid will you unless you certify that the vendor has fully performed all the terms and conditions of the said contract and accordingly discharge this guarantee, or until ______________ , whichever is earlier. Unless a claim or demand is made on us in writing under this guarantee on or before ______________, we shall be discharged from all our obligations under this guarantee. If you extend the schedule dates of performance under the said contract, as per the terms of the said contract, the vendor shall get the validity period of this guarantee extended suitably and we agree to extend the guarantee accordingly at the request of the vendor and at our discretion, provided such request is served on the bank on or before ______________. Failure on part of the vendor in this respect shall be treated as a breach committed by the vendor and accordingly the amount under this guarantee shall at once become payable on the date of receipt of demand made by you for payment during the validity of this guarantee or extension of the validity period. You will have fullest liberty without affecting this guarantee to postpone for any time or from time to time any of your rights or powers against the vendor and either to enforce or forebear to enforce any or all of the terms and conditions of the said contract. We shall not be released from our liability under this guarantee by the exercise of your liberty with reference to matters aforesaid or by reason of any time being given to the vendor or any other forbearance act or omission on your part or any indulgence by you to the vendor or by any variation or modification of the said contract or any other act, matter or thing whatsoever which under the law relating to sureties would but for the provisions hereof have the effect of so releasing us from our liability hereunder. In order to give full effect to the guarantee herein contained you shall be entitled to act as if we are your principal debtors in respect of all your claims against the vendor hereby guaranteed by us as aforesaid and we hereby expressly waive all our rights of surety ship and other rights if any which are in any way inconsistent with the above or any other provision of this guarantee. The words the vendor, the beneficiary of this guarantees i.e. Yourself, and ourselves i.e. __________________( Name of the Guarantor Bank), unless repugnant to the context or otherwise shall include their assigns, successors, agents, legal representatives. This guarantee shall not be effected by any change in the constitution of any of these parties and will ensure for and be available to and enforceable by any absorbing or amalgamating or reconstituted company or concern, in the event of your undergoing any such absorption, amalgamation or reconstitution. This guarantee shall not be revocable during its currency except with your prior consent in writing. This guarantee is non-assignable and non-transferrable. Notwithstanding anything contained herein above: I) Our liability under this bank guarantee shall not exceed Rs.________/- (Rupees


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_______________ Only) II) This bank guarantee shall be valid up to _____________. III) We are liable to pay the guaranteed amount or any part thereof under this bank

guarantee only if you serve upon us a written claim or demand (and which should be received by us), on or before ____________ before 12:00 hours (Indian standard time) where after it ceases to be in effect in all respects whether or not the original bank guarantee is returned to us.

This guarantee deed must be returned to us upon expiration of the period of guarantee. Signature …………………………………… Name ………………………………………… (In Block letters) Designation ………………………………… (Staff Code No.)…………………………….. Official address: (Bank‟s Common Seal) Attorney as per power of Attorney No. Date: WITNESS: 1……………………………………………… (Signature with Name, Designation & Address) 2……………………………………………… (Signature with Name, Designation & Address)


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61. Annexure N – Format for Bank Guarantee for EMD Date: To, The General Manager, Department of Information Technology, Union Bank of India, 1/1A,Adi Sankaracharya Marg, Opp. Powai Lake, Powai. Andheri East, Mumbai - 400072 Dear Sirs, In response to your invitation to respond for Procurement of Solution for Implementation of

Indian Accounting Standards, M/s __________________ having their registered office at _____________ (hereinafter called the Bidder) wish to respond to the said Request for Proposal (RFP) and submit the proposal for the same. Whereas the Bidder has submitted the proposal in response to RFP, we, the ____________ Bank having our head office ________________ hereby irrevocably guarantee an amount of` ………./‐ (Rupees ……… only) as Bid security as required to be submitted by the Consultant as a condition for participation in the said process of RFP. The Bid security for which this guarantee is given is liable to be enforced/ invoked: 1) If the Bidder withdraws his proposal during the period of the proposal validity; or 2) If the Bidder, having been notified of the acceptance of its proposal by the Bank during the period of the validity of the proposal fails or refuses to enter into the contract in accordance with the terms and conditions of the RFP or the terms and conditions mutually agreed subsequently. 3) If the Bidder, if selected for awarding the Contract, fails to renew this Bank Guarantee as decided by Union Bank of India. We undertake to pay immediately on demand to Union Bank of India, the said amount of `‐ (Rupees ……….. only) without any reservation, protest, demur, or recourse. The said guarantee is liable to be invoked/ enforced on the happening of the contingencies as mentioned above and also in the RFP document and we shall pay the amount on any demand made by Union Bank of India which shall be conclusive and binding on us irrespective of any dispute or difference raised by the Bidder. Notwithstanding anything contained herein: 1) Our liability under this Bank guarantee shall not exceed ` /‐ (Rupees ……… only). 2) This Bank guarantee will be valid up to 180 days and 3) We are liable to pay the guaranteed amount or any part thereof under this Bank guarantee only upon service of a written claim or demand by you on or before ________________.


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In witness whereof the Bank, through the authorized officer has sets its hand and stamp on this _______________ day of __________________ at _________________.

Signature …………………………………… Name ………………………………………… (In Block letters) Designation ………………………………… (Staff Code No.)…………………………….. Official address: (Bank‟s Common Seal) Attorney as per power of Attorney No. Date: WITNESS: 1……………………………………………… (Signature with Name, Designation & Address) 2……………………………………………… (Signature with Name, Designation & Address)


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62. Annexure O - Business Rules for Reverse Auction Business rules for Bank‟s “Request for Proposal for Procurement of Software for Implementation of Indian Accounting Standards” Reverse Auction through E-Procurement. The detailed procedure for Reverse Auction to be followed in the Request for Proposal for “Procurement of Software for Implementation of Indian Accounting Standards” Project is given below: The response to the present tender will be submitted by way of submitting the Technical offer & Indicative Commercial offers in separate sealed covers. The technical details with the relevant information /documents/acceptance of all terms and conditions strictly as described in this tender document will have to be submitted by the Bidders. The Indicative commercial bids submitted by the Bidders who are short listed in the technical bid evaluation process will be opened and those Bidders will be invited to participate in the online Reverse Auction to be conducted by the company selected by the Bank. Bidders who are short listed from Technical evaluation will be trained by the Reverse Auction Company for this purpose, and they will have to abide by the E-business rules framed by the Bank in consultation with Reverse Auction Service provider. The e-business rules are furnished hereunder in this document. Further, please note that the Bidder(s) who do not qualify in the technical bid processes will not be considered for participation in Reverse Auction. For participating in reverse auction digital signature is a pre-requisite. BUSINESS RULES FOR REVERSE AUCTION 1. APPLICABILITY 1.1. Reverse Auctions are carried out under the framework of rules that are called

Business Rules. 1.2. All bidders participating in Reverse Auction shall understand/accept and give an

undertaking for compliance with the same to the Bank in the prescribed format Exhibit-A.

1.3. Any bidder not willing to submit such an undertaking shall be disqualified for further participation respecting the procurement in question.

2. ELIGIBILITY: 2.1. Only bidders who have submitted Integrity pact (IP) signed by authorized signatory,

technically qualified and who submit the prescribed undertaking to the Bank alone can participate in Reverse Auction relevant to the procurement for which RFP is floated.

3. COMPLIANCE/CONFIRMATION FROM BIDDERS: 3.1. The bidders participating in Reverse Auction shall submit the following duly signed


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by the same Competent Authority who signs the offer documents in response to the RFP: 3.1.1. Acceptance of Business Rules for Reverse Auction and undertaking as per

format in Exhibit-A. 3.1.2. Agreement between service provider and bidder. (This format will be given by

the service provider prior to announcement of Reverse Auction.) 3.1.3. Letter of authority authorizing the name/s of official/s to take part in

Reverse Auction as per format in Exhibit-B. 3.1.4 Undertaking of Process Compliance Statement for Reverse Auction as per

format prescribed in Exhibit - C.

4. TRAINING 4.1. The Bank will facilitate training for participation in Reverse Auction either on its

own or through the service provider for the Reverse Auction. 4.2. Where necessary, the Bank/service provider may also conduct a „mock reverse

auction‟ to familiarize the bidders with Reverse Auction process. 4.3. Any bidder/bidder not participating in training and/or „mock reverse auction‟ shall

do so at his own risk and it shall not be open for him to make any complaint/grievance later.

5. TOTAL COST OF OWNERSHIP (TCO) 5.1. TCO refers to the aggregate amount payable by the Bank for transfer of ownership. 5.2. TCO shall encompass but not be limited to the following:

5.2.1 Cost of services. 5.2.2 Installation and commissioning charges, if any. 5.2.3 The prices should include the comprehensive onsite warranty maintenance,

services, and visits to the concerned offices as specified in the RFP. 5.2.4 Training costs for the product/service/equipment if and as defined in RFP. 5.2.5 ATS charges for the period as specified in the RFP

5.3. TCO, however, shall not include variables of GST. These shall be paid as per actual

and on production of receipts. However, no penalties respecting GST shall be paid by the Bank and the bidder shall bear such expenses.


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6. DATE/TIME FOR TRAINING 6.1. The Venue, Date, Time etc. for training in Reverse Auction shall be advised at the

appropriate time. 6.2. The Bank shall Endeavour to fix such Date/Time at mutual convenience to the

bidder/s, service provider and the Bank. 6.3. No request for postponement/fixing of Training Date/Time shall be entertained

which in the sole view and discretion of the Bank might result in any avoidable delay to either the Reverse Auction or the whole process of selection of bidder.

7. DATE/TIME OF REVERSE AUCTION 7.1. The Date and Time of commencement of Reverse Auction as also Duration of

„Reverse Auction Time‟ shall be communicated at least 3 working Days prior to such auction Date.

7.2. Any force majeure or other condition leading to postponement of auction shall

entitle the Bank to postponement of auction even after communication, but, the Bank shall be obliged to communicate to all participating bidders the „postponement‟ prior to commencement of such „Reverse Auction‟.

8. CONDUCT OF REVERSE AUCTION 8.1. The Reverse Auction shall be conducted on a specific web portal meant for this

purpose. 8.2. The Reverse Auction may be conducted by the Bank itself or through a service

provider specifically identified/appointed/empanelled by the Bank. 9. SERVICE PROVIDER‟S ROLE & RESPONSIBILITIES 9.1. In all Reverse Auctions conducted by the Bank through a Service Provider, the Bank

shall enter into a separate agreement clearly detailing the role and responsibilities of the service provider hosting the web portal for the Reverse Auction.

9.2. For creating necessary obligations and rights, the service provider will also enter

into an agreement with each bidder as per a format designed by him for this purpose. The Bank shall resolve any points/issues concerning such agreement of bidder and service provider.

9.3. While a Service Level Agreement (SLA) by the bank with the service provider is an

arrangement for smooth and fair conduct of the Reverse Auction, the Bank shall be directly responsible to bidders for fair and transparent conduct of Reverse Auction.


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9.4. The service provider at the end of each Reverse Auction shall provide the bank with

all details of the bids and reports of reverse auction. 9.5. The service provider shall also archive the data pertaining to the Reverse Auction for

a minimum period of 3 years. 10. TRAINING AND AUCTION 10.1. Service provider / auctioneer are responsible for conduct of adequate training to all

technically qualified bidders representing the reverse auction and bidding process. 10.2. Each bidder / bidder shall participate in the training at his / their own cost. 10.3. Wherever it is considered necessary and asked by the bidders or as decided by the

auctioneer or by Bank a mock auction may also be conducted for the benefit of all concerned.

10.4. Authorized representatives of the bidders named in the authorization letter given by

the bidder (Exhibit-B) shall be given unique user name, password by the service provider / auctioneer.

10.5. Each bidder shall change the password and edit the information in the registration

page after receipt of initial password. 10.6. All the bids made from the login ID given to bidder shall ipso-facto be considered bid

made by the bidder / bidder to whom login ID and password were assigned by the service provider / auctioneer.

10.7. Any bid once made through registered login ID / password by the bidder / bidder

cannot be cancelled. The bidder, in other words, is bound to sell the “Offering” as per the RFP at the bid price of TCO.

10.8. Every successive bid by the bidder / bidder being decremented bidding shall replace

the earlier bid automatically and the final bid as per the time and log-in ID shall prevail over the earlier bids.

10.9. The Bank shall conduct the reverse auction as per the Standard English reverse

auction, that is, no two bids can have identical price from two different bidders. In other words, there shall never be a “Tie” in bids.

11. PROXY BID 11.1. A proxy bid is one where bidder can submit the lowest bid amount by him in strict

confidence to the system directly. This obviates the need for him participating in


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the bidding process until the proxy bid amount is decrementally reached by other bidders.

11.2. When proxy bid amount is reached, the bidder has an option to revise the proxy bid

amount or he can prefer to start participating in bidding process. 11.3. Since it is an English auction with no ties, two bidders submitting identical proxy bid

amount and succeeding in auction simultaneously does not arise. 11.4. During training, the issue of proxy bidding will be clarified in detail by the service

provider. 12. TRANSPARENCY IN BIDS 12.1. All bidders will be able to view during the auction time the current lowest price in

portal. Bidder shall be able to view not only the lowest bid but also the last bid made by him at any point of time during the auction time.

13. MASKING OF NAMES 13.1. Names of bidders/ bidders shall be anonymously masked in the Reverse Auction

process and bidders will be given suitable dummy names. 13.2. After completion of Reverse Auction, the service provider / auctioneer shall submit

a report to the Bank with all details of bid and the original names of the bidders as also the L1 bidder with his / their original names.

14. START PRICE 14.1. Bank shall determine the start price either on its own or through asking for

information of price band on TCO from each bidder at appropriate time during or at the conclusion of technical evaluation. Based on the price band so informed by bidders, Bank would determine the start price for reverse auction.

15. DECREMENTAL BID VALUE 15.1. The bidders shall be able to bid only at a specified decrement value and not at any

other fractions. The Bid decrement value shall be Rs.7500/- or 0.25% of the Start price of the Reverse Auction, whichever is higher.

15.2. The bid decrement value shall be rounded off to the nearest thousands of rupees. 15.3. For the sake of convenience of bidders, the web portal shall display the next

possible decremented value of bid. It is not, however, obligatory on the part of bidders to bid at the next immediate lower level only. (That is, bids can be even at


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2 or 3 lower levels than the immediate lower level. and should not exceed 2% of the bid value)

16. COPY OF BUSINESS RULES 16.1. The Bank shall supply copy of the Business rules to any bidders / bidders, wishing to

participate in the reverse auction. Such request shall be made in writing to the Bank by an authorized representative of the bidder.

16.2. The Bank shall also handover a copy of the Business Rules with a covering letter duly

signed by an authorized signatory of the Bank. 16.3. For any dispute concerning the Business Rules, the hard copy of Business Rules

supplied by the Bank for the reference of reverse auction process will alone be considered final and bidding.

17. SPLITTING OF ORDERS 17.1. If any RFP specifically authorizes splitting of orders for the sake of reducing

dependency on single source of supply or provision of service, Bank is entitled to split the order in the order and as provided in RFP.

17.2. While splitting the order, Bank shall specify the maximum quantum for L1, L2 etc. in

RFP. 17.3. In case L2 bidder is not willing to supply at L1 price, Bank shall call L3, L4 etc. in

order to arrive at the split quantum to be awarded. 17.4. The Bank shall also be entitled to award the contract to L2, L3 or L4 etc. bidders in

the event of L1 bidder backing out to honor the commitment, or for that matter not in a position to supply the offering as per RFP.

18. REVERSE AUCTION PROCESS 18.1. In order to reduce the time involved in the procurement process, Bank shall be

entitled to complete the entire procurement process through a single Reverse Auction. For this purpose, Bank shall do all it can to award the contract to L1 bidder or in the circumstances where awarding of contract may have to be done to the L2, L3 bidder as provided for in the RFP.

18.2. The Bank shall however, be entitled to cancel the procurement of Reverse Auction ,

if in its view procurement or reverse auction process cannot be conducted in a fair manner and / or in the interest of the Bank.

18.3. The successful bidder shall be obliged to provide a Bill of Material at the last bid


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price at the close of auction. 19. EXPENDITURE ON REVERSE AUCTION 19.1. All expenses of reverse auction shall be borne by the Bank. 19.2. Bidders, however, shall attend the training or mock auction at their own cost. 20. CHANGES IN BUSINESS RULES 20.1. Any change in Business Rules as may become emergent and based on the experience

gained shall be made only by a Committee of senior / top executives of the Bank. 20.2. Any / all changes made in Business Rules shall be uploaded in the Website

immediately. 20.3. If any reverse auction process has commenced and a change is made in Business

Rules, it shall be informed immediately to each bidder/ bidder and his concurrence to / acceptance of the change shall be obtained in writing by the Bank.

21. DON‟TS APPLICABLE TO THE BIDDER/BIDDER 21.1. No bidder shall involve himself / itself or any of his / its representatives in any price

manipulation directly or indirectly with other bidders. If any such practice comes to the notice, Bank shall disqualify the bidder / bidders concerned from the reverse auction process.

21.2. Bidder shall not disclose details of his bids or any other details concerning Reverse

Auction process of the Bank to any other third party without specific permission in writing from the Bank.

21.3. Neither Bank nor service provider / auctioneer can be held responsible for

consequential damages such as no power supply, system problem, inability to use the system, loss of electronic information, power interruptions, UPS failure, etc. (Bank shall, however, entertain any such issues of interruptions, problems with open mind and fair degree of transparency in the process before deciding to stop or extend the auction.)

22. GRIEVANCES REDRESSAL 22.1. Any aggrieved bidder / bidder through Reverse Auction process can make complaint

in writing within 48 hours of the Reverse Auction to the Chief Compliance Officer of the Bank.

22.2. The Chief Compliance Officer along with the Chief Law Officer of the bank and Chief


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of Audit Dept. shall give personal hearing to the aggrieved bidder / bidder and decide upon the complaint / grievance.

22.3. Decision of the Grievance Redressal Committee shall be binding on the Bank as well

as on all bidders participating in the Reverse Auction. 22.4 Any bidder can also make complain in writing to our IEM‟s within 48 hours of the

reverse auction 23. ERRORS AND OMISSIONS 23.1. On any issue or area of material concern respecting Reverse Auction not specifically

dealt with in these Business Rules, the decision of the bank shall be final and binding on all concerned.



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63. Annexure O (A) - Compliance Statement – Reverse Auction (To be submitted by all the bidders participating in Reverse Auction) Exhibit -A To, Union Bank of India Department of Information Technology Powai, Mumbai DECLARATION

1 We ______________________ (name of the company) hereby confirm having submitted our bid for participating in Bank‟s RFP dated _________ for procurement of ____________.

2 We also confirm having read the terms of RFP as well as the Business Rules relating to the Reverse Auction for this RFP process.

3 We hereby undertake and agree to abide by all the terms and conditions stipulated by Union Bank of India in the RFP document including all annexure and the Business Rules for Reverse Auction.

4 We shall participate in the on-line auction conducted by _______________ Ltd. (Auction Company) and submit our commercial bid. We shall also abide by the procedures prescribed for online auction by the auction company.

5 We, hereby confirm that we will honor the Bids placed by us during the auction process, failing which we shall forfeit the EMD. We also understand that the bank may debar us from participating in future tenders.

6 We confirm having nominated Mr. ________________, designated as ______________ of our company to participate in the Reverse Auction on behalf of the company. We undertake that the company shall be bound by the bids made by him I Reverse Auction.

7 We undertake to submit the confirmation of last bid price by us to the auction company/Bank within 24 working hours of the completion of event. We also undertake to submit the Bill of Materials for the TCO (Total Cost of Ownership) in terms of RFP.

Signature with company seal Name: Company / Organization: Designation within Company / Organization: Address of Company / Organization: Date: Name of Authorized Representative: _______________________ Signature of Authorized Representative: ____________________ Verified above signature Competent Authority Signature: ___________________________ Date: ________________


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64. Annexure O (B) - Letter of Authority for Participation in Reverse Auction Exhibit –B To, Union Bank of India Department of Information Technology Powai, Mumbai

1 We ______________________ (name of the company) have submitted our bid for participating in Bank‟s RFP dated _________ for procurement of ____________.

2 We also confirm having read and understood the terms of RFP as well as the

Business Rules relating to the Reverse Auction for this RFP process.

3 As per the terms of RFP and Business rules, we nominate Mr. ______________, designated as ______________ of our company to participate in the Reverse Auction.

4 We accordingly authorize Bank and / or the Auction Company to issue user ID and

password to the above named official of the company.

5 Both Bank and the auction company shall contact the above named official for any and all matters relating to the Reverse Auction.

6 We, hereby confirm that we will honor the Bids placed by Mr. __________ on

behalf Of the company in the auction process, failing which we will forfeit the EMD. We agree and understand that the bank may debar us from participating in future tenders for any such failure on our part.

Signature with company seal Name – Company/ Organization Designation within Company / Organization Address of Company / Organization Date: Name of Authorized Representative: _______________________ Signature of Authorized Representative: ____________________ Verified above signature Signature of Competent Authority: ______________ Date: _________________


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65. Annexure O (C) - Undertaking of Process Compliance Statement for RA

(This letter should be on the letterhead of the bidder duly signed by an authorized signatory)

Exhibit – C Place: Date:

To, The General Manager, Union Bank of India, Technology Centre, 1/1A, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Andheri (East), Mumbai‐400072.

Sir,

Subject: Our bid for RFP for Procurement of Software for Implementation of Indian Accounting

Standards

This letter is to confirm that:

1. The undersigned is authorized representative of the company.

2. We have studied the Commercial Terms and the Business Rules governing the

Reverse Auction as mentioned in the RFP and confirm our agreement to them.

3. We confirm that Union Bank of India and Auction Service Provider shall not be liable

& responsible in any manner whatsoever for my/our failure to access & bid on the e-

auction platform due to loss of internet connectivity, electricity failure, virus

attack, problems with the PC, any other unforeseen circumstances etc before or

during the auction event.

4. We also confirm that we have a valid digital signature certificate issued by a valid

Certifying Authority.

5. We also confirm that we will mail the price confirmation & break up of our quoted

price as per Annexure F (A) within 24 hour of the completion of the reverse auction.

6. We, hereby confirm that we will honour the bids placed by us during the auction

process.

Signature with company seal Name –


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Company/ Organisation Designation within Company / Organisation Address of Company / Organisation Date: Name of Authorized Representative: _______________________ Signature of Authorized Representative: ___________________ Verified above signature Signature of Competent Authority: ______________ Date: _________________


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66. Annexure P – Confidentiality / Non Disclosure Agreement

This CONFIDENTIALITY AGREEMENT (the “Agreement”) entered into on this _ day of

2019, and shall be deemed to have become in full force and effect from (the

“Effective Date”).

BY and between M/s.__________________ a company incorporated under the provisions of

the Companies Act, _________ in force in India, having its registered office at

______________________________________________ (hereinafter referred to as “--------”

or “Vendor” which expression shall, unless it be repugnant or contrary to the context or

meaning thereof, mean and include its, successors and permitted assigns) of the ONE PART

AND

Union Bank of India, a corresponding new bank constituted under section 3 of Banking

Companies (Acquisition & Transfer of Undertakings) Act 1970 having its Head office at

Union Bank Bhavan, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021 (hereinafter

referred to as “Union Bank” or “Bank” which expression shall, unless it be repugnant to the

context or meaning thereof, mean and include its successors and permitted assigns), of the

OTHER PART:

---------- and the Bank shall hereinafter jointly be referred to as “Parties” and individually

as a “Party”.

In this Agreement, “Affiliate” means any entity which from time to time Controls, is

Controlled by or is under common Control with the relevant party or entity, where

“Control” means having the ability (including, without limitation, by means of a majority

of voting rights or the right to appoint or remove a majority of the board of directors) to

control the management and policies of an entity.

W H E R E A S:-

i. Vendor inter-alia is engaged in the business of providing IT related solutions &

services to various business entities in India & abroad.

ii. Union Bank has agreed to disclose, transmit, receive, and/or exchange certain

“confidential information” to cover the business transaction between parties for the

provision of services related to ” (“the Purpose”) as

more particularly described in Purchase Order no , issued by

Union Bank in favor of M/s. ----------------------.

NOW THIS AGREEMENT WITNESS:


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1. Interpretation

In this Agreement “Confidential Information” means all information belonging to a

Party that is or has been disclosed to one Party (the “Receiving Party”) by the other

Party (the “Disclosing Party”) in connection with the business transacted/ to be

transacted between the Parties. Confidential information shall also include any copy,

abstract, extract, sample, note or module thereof. The Receiving Party may use the

Confidential Information solely for and in connection with the business transacted/ to

be transacted between the Parties.

Notwithstanding the foregoing, “Confidential Information” shall not include any

information which the Receiving Party can show: (a) is now or subsequently becomes or

is in possession of the Receiving Party, legally and publicly available without breach of

this Agreement by the Receiving Party, (b) was rightfully in the possession of the

Receiving Party without any obligation of confidentiality prior to receiving it from the

Disclosing Party, (c) was rightfully obtained by the Receiving Party from a source other

than the Disclosing Party without any obligation of confidentiality, (d) was developed

by or for the Receiving Party independently and without reference to any Confidential

Information and such independent development can be shown by documentary

evidence, or (e) is disclosed pursuant to an order of a court or governmental agency as

so required by such order, provided that the Receiving Party shall, unless prohibited by

law or regulation, promptly notify the Disclosing Party of such order and afford the

Disclosing Party the opportunity to seek appropriate protective order relating to such

disclosure.

2. Confidentiality:

2.1 Except to the extent as agreed herein, the Receiving Party agrees to regard, preserve

and keep as secret and confidential all Confidential Information of the Disclosing Party or

its clients or any member of their group disclosed under this Agreement. In maintaining

confidentiality hereunder the Receiving Party agrees and accepts that it shall not, either

on its own account or jointly with or for any other person, firm, company or any other

entity, without obtaining the written consent of the disclosing party.

I. disclose, transmit, reproduce or make available any such Confidential Information to

any person firm, company or any other entity other than its directors, partners,

advisers, agents or employees, who need to know the same for the purpose of

evaluating, preparing, considering, negotiating, advising in relation to or in

furtherance of the purpose aforesaid; or


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II. use the Confidential Information for any purpose other than evaluating, preparing,

considering, negotiating, advising in relation to or in furtherance of the purpose for

which it is disclosed; or

III. disclose, announce or otherwise publicize the existence of its association with the

Disclosing Party or the existence of the project with the Disclosing Party or any

other arrangement (existing or possible) between the disclosing party, its clients or

itself in connection with any project/assignment; or

IV. use any such Confidential Information for its own benefit or the benefit of others or

do anything prejudicial to the interests of the Disclosing Party or its clients or any

member of their group or their projects.

2.2 The Receiving Party also agrees and accepts that it may endeavor:

I. use at least the same degree of care in safeguarding such Confidential Information

as it uses for its own Confidential information of like importance and such degree of

care shall be at least that which is reasonably calculated to prevent such

inadvertent disclosure;

II. keep the Confidential Information and any copies thereof secure and in such a way

so as to prevent unauthorized access by any third party;

III. limit access to such Confidential Information to those of its (including its Affiliates‟)

directors, partners, advisers, agents or employees who are directly involved in the

consideration/evaluation of the Confidential Information and bind each of its

directors, partners, advisers, agents or employees so involved to protect the

Confidential Information in the manner prescribed in this Agreement; and

IV. upon discovery of any disclosure or suspected disclosure of Confidential Information,

to take reasonable effort to as per the circumstances, to inform the Disclosing Party

of such disclosure in writing and immediately return to the Disclosing Party all such

Information, in whatsoever form, including any and all copies thereof.

3. Return or destruction:

The Receiving Party may, upon completion of the purpose mentioned aforesaid or at

any time on receipt of a written demand from the disclosing party: i) immediately

return all written Confidential Information and all copies thereof provided to, or

produced by, it or its advisers, as the case may be, which is in such party‟s possession

or under its custody and control; ii) to the extent practicable, but without prejudice to

the obligations of confidentiality herein, immediately destroy all analyses,

compilations, notes, studies, memoranda or other documents prepared by it or its


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advisers to the extent that the same contain, reflect or derive from Confidential

Information relating to the other party; iii) so far as it is practicable to do so (but, in

any event, without prejudice to the obligations of confidentiality contained in this

Agreement), immediately expunge any Confidential Information relating to the

Disclosing Party or its clients or any member of their group or their projects from any

computer, word processor or other device in its possession or under its custody and

control.

4. Permitted disclosure:

The provisions of paragraph 2 shall not restrict any disclosure required by law or by any

court of competent jurisdiction, the rules and regulations of any recognized stock

exchange or any enquiry or investigation by any governmental, official or regulatory

body which is lawfully entitled to require any such disclosure provided that, so far as it

is lawful and practical to do so prior to such disclosure, the Receiving Party shall

promptly notify the other party of such requirement with a view to providing the

opportunity for the Provider to contest such disclosure or otherwise to agree the timing

and content of such disclosure.

5. Ownership of Information:

Except to the extent as agreed herein, the Confidential Information and copies thereof,

in whatsoever form shall at all times remain the property of the Disclosing Party or its

clients and its disclosure shall not confer on the Receiving Party any rights (including

any intellectual property rights) over the Confidential Information whatsoever beyond

those contained in this Agreement.

6. No Representation:

Neither the disclosure, transmission receipt or exchange of Confidential Information nor

anything else in this Agreement will constitute an offer by or on behalf of the Disclosing

Party or be construed as soliciting any business or organization changes or any

assurance of any business commitment or an inducement to incur / undertake any

obligations not specified herein and neither party will be under any obligation to accept

any offer or proposal which may be made by the other or on behalf of such other party.

7. Remedies and Relief:

The parties hereto acknowledge that remedies at law may be inadequate to protect the

Disclosing Party or its clients against any actual breach of this Agreement by the

Receiving Party, and, without prejudice to any other right and remedies otherwise

available to the Disclosing Party or its clients, the Receiving Party agrees that Disclosing


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Party has a right to seek injunctive relief in its favor upon proof of actual damage and

upon establishment of the fact that such actual damage has taken place due to reasons

directly attributable upon the Receiving Party. Such injunctive relief shall be in

addition to any other remedies available hereunder, whether at law or equity.

Disclosing Party shall be entitled to recover its cost and fees, including Advocate‟s fees,

incurred in obtaining any such relief. Further, in the event of litigation relating to this

Agreement, the prevailing party shall be entitled to recover its cost and expenses

including Advocate‟s fees.

8. No Assignment

This Agreement shall not be assigned by either party, by operation of law or otherwise,

without the prior written consent of the other party. This Agreement shall inure to the

benefit of and will be binding upon the parties‟ respective successors and permitted

assigns.

9. Severability

In the event that any of the provisions contained in this Agreement is found to be

invalid, illegal or unenforceable in any respect by a Court of competent jurisdiction,

the validity, legality, or enforceability of the remaining provisions contained in this

agreement will not be in any way affected or impaired by such a finding.

10. Delay or Waiver

No delay or failure of either Party in exercising any right hereunder and no partial or

single exercise thereof shall be deemed of itself to constitute a waiver or an

expectation of non-enforcement of such right or any other rights hereunder. No waiver

of any provision of this Agreement shall be valid unless the same is in writing and signed

by the party against whom such waiver is sought to be enforced. A waiver or consent

given by either party on any one occasion is effective only in that instance and will not

be construed as a bar to or waiver of any right on any other occasion.

11. Notices

Notices as required by this Agreement shall be sent to the Parties at the addresses

mentioned first herein above or such other addresses as the Parties may designate from

time to time, and shall be sent by certified or registered mail with acknowledgement

due on receipt.


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12. Term

This Agreement shall commence from the Effective Date of this Agreement and shall be

valid for a period of ---------------- years there from. Confidentiality obligations under

this Agreement shall continue to be binding and applicable without limit in point in

time except and until such information enters the public domain, without breach of the

agreement. Either Party may terminate this Agreement for breach, if the defaulting

Party fails to rectify the breach within the one month notice period issued by the non-

defaulting Party. Upon expiration or termination as contemplated herein the Receiving

Party shall immediately cease any and all disclosures or uses of Confidential

Information; and at the request of Disclosing Party, the Receiving Party shall promptly

return or destroy all written, graphic or other tangible forms of the Confidential

Information and all copies, abstracts, extracts, samples, notes or modules thereof.

13. Governing Law

The provisions of this Agreement shall be governed by the laws of India and shall be

subject to the exclusive jurisdiction of courts in Mumbai.

14. Indemnity

The Receiving Party agree to indemnify and hold harmless the Disclosures against all

costs, liability, losses and claims incurred by the Disclosing Party as a result of a breach

of this Agreement.

15. Modification

Modification to any of the provisions of this Agreement shall be void unless it is writing

and duly executed by Parties.

16. Headings

The headings given herein above are for ease of reference only and shall not attach or

have any effect/ meaning whatsoever contrary to what is stated in the agreement.

17. Counterparts

This Agreement has been signed in duplicate, each of which shall be deemed to be an

original. The exchange of a fully executed Agreement (in counterparts or otherwise) by

fax shall be sufficient to bind the parties to the terms and conditions of this

Agreement.


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IN WITNESS WHEREOF THE PARTIES HERETO HAVE CAUSED THIS AGREEMENT TO BE

EXECUTED BY THEIR AUTHORIZED REPRESENTATIVES ON THIS ______ DAY OF ____

_____ 2019_

Signed and delivered by Signed and delivered by

M/s ________________________ Union Bank of India

Signed by: Signed by:

Name ……………….…….………. Name …………….……….……………

Title ……………………….………. Title ……………………….………….

in the presence of in the presence of

………………….…………………..…. ………………….……………………


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67. Annexure Q – Bid Query Format Bidders have to provide their queries on eligibility criteria, scope of work, terms & conditions etc. in excel format as mentioned below. Bidders are requested to categorize their queries under appropriate headings. Bidders are requested to provide a reference of the page number, state the clarification point and the queries/suggestion/deviation that they propose as shown below (all the pre bid queries will be entertained in this Microsoft Excel format by e-mail):

Bidder Name

Clause no Page no. Clause Query Bank Response

Place: Date: Name & Designation: Business Address: Email Address: Mobile Number:


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68. Annexure R - Undertaking By Bidder

Place: Date: To:

The General Manager, Union Bank of India, 5th floor, Technology Centre, 1/1A, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Andheri (East), Mumbai‐400072.

Undertaking (To be submitted by all Bidders’ on their letter head)

We ________________________(bidder name), hereby undertake that-

As on date of submission of tender, we are not blacklisted by the Central

Government / any of the State Governments / PSUs in India or any Financial

Institution in India.

We also undertake that, we are not involved in any legal case that may affect the

solvency / existence of our firm or in any other way that may affect capability to

provide / continue the services to bank.

We also undertake that, we are neither the member nor the immediate family

member of board of the directors of the Bank.

Yours faithfully,

Authorized Signatories

(Name, Designation and Seal of the Company)

Date:


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69. Annexure S - Undertaking of Information Security

(This letter should be on the letterhead of the bidder as well as the OEM/OSD duly signed by an authorized signatory on Information security as per regulatory requirement)

Place: Date:

To:

The General Manager, Union Bank of India, 5th floor, Technology Centre, 1/1A, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Andheri (East), Mumbai‐400072.

Sir,

Subject: Request for Proposal (RFP) For Procurement of Software for Implementation of

Indian Accounting Standards

We hereby undertake that the proposed solution / software to be supplied will be free of malware, free of any obvious bugs and free of any covert channels in the code (of the version of the application being delivered as well as any subsequent versions/modifications done)

Yours faithfully, Authorized Signatory Name: Designation: Vendor‟s Corporate Name: Address: Email and Phone #:


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70. Annexure T - Letter for Refund of EMD

LETTER FOR REFUND OF EMD (To be submitted by the unsuccessful bidders)

Date:

The General Manager, Union Bank of India, Technology Centre, 1/1A, Adi Shankaracharya Marg, Opp. Powai Lake, Powai, Andheri (East), Mumbai‐400072. We ____________(Company Name) had participated in the RFP for Procurement of Software for Implementation of Indian Accounting Standards and we are an unsuccessful bidder. Kindly refund the EMD submitted for participation. Details of EMD submitted are as follows

Sr. No Bidder Name Cheque / DD Number

Drawn on (Bank Name

Amount(Rs)

Bank details to which the money needs to be credited via NEFT are as follows 1. Name of the Bank with Branch 2. Account Type 3. Account Title 4. Account Number 5. IFSC Code Sign Name of the signatory: Designation: Company Seal