How to Submit Financial Bid In Two Packet System

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The Two Packet System in IREPS (Indian Railways E-Procurement System) is a bidding method used in procurement processes. In this system, bidders are required to submit their bids in two separate packets or envelopes: Technical Bid  and Financial Bid.

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What is Financial bid in IREPS

In the context of IREPS (Indian Railways E-Procurement System), a financial bid refers to the portion of a bidding process that includes the contains the financial aspects of the bid, including pricing, cost details, and payment terms. The financial bid is typically sealed and not opened until the technical evaluation is complete.

Steps for financial bid submission in Two packet system

Once you are authorise to place a bid on a tender, you will notice a "Bid Process" icon in your search results and in your "My Tenders (Live)" inbox after logging in. To access the bidding page, it's essential to make payments for TDC (Tender Document Cost) and EMD (Earnest Money Deposit). 
 
Once these payments have been successfully made, you can click on the "Bid Process" icon to open the bid preparation and submission interface. 

Before you submit your financial offer, it's crucial to provide the techno-commercial portion of the tender. This includes the submission of General Conditions, Eligibility Conditions, Compliance Conditions, and any required attachments. This step must be completed before proceeding with the submission of the financial offer.

Financial offer

When you click on the "Fin. Offer" tab, it will lead you to the Financial Offer Page. Here, the bidder can enter their rates for the schedule items listed in the tender, as demonstrated below:

IREPS Works Tender Financial Bid Submission 01

The bidder is required to input their quoted rate for each item in the "Bid rate / Unit rate" column. If the bidding unit deviates from the standard, whether it's Above, Below, or at Par, the bidder can make the selection by choosing the "%Above," "%Below," or "%At Par" option from the dropdown list within the same column.
 
IREPS Works Tender Financial Bid Submission 02

If the bidding rate is in Rupees (Rs.) or Rupees per unit (Rs./unit), the bidder should quote their rate accordingly for the item group or individual item. The total value of the bid is calculated once all items are listed. Additionally, the bidder can choose to provide a rebate percentage on the Gross bid value using the designated rebate field on the page. 

The Net Bid value is determined by applying the rebate to the Gross bid value. The ranking of offers is based on the Net Bid value. Once the rates and rebate information have been entered, the bidder needs to click on the "Confirm/Save as Draft" option.

                                         IREPS Works Tender Financial Bid Submission 03

Submit offer

By clicking on the "Submit Offer" link in the Tabs Bar, you will open the final tab designed for the bidder to make their ultimate submission of the offer, as illustrated below:

IREPS Works Tender Financial Bid Submission 04

Upon opening this page, you will find a list of Undertakings/Declarations that the bidder must acknowledge. To confirm their acceptance of these Undertakings/Declarations, the bidder needs to click on the checkbox at the end of each item. 

Additionally, there is a Checklist provided to the bidder, outlining critical parameters that must be reviewed before submitting the offer. 

It's worth noting that the content of the Undertakings/Declarations and the Checklist can vary from one tender to another, depending on the requirements set by the tendering department. In some cases, there might not be any items in the Undertakings/Declarations or Checklist for a specific tender. 

By ticking the checkboxes, the Undertakings/Declarations and Checklist sections will collapse, as depicted below. These sections can be expanded again by clicking on the "+" buttons displayed on the page.
IREPS Works Tender Financial Bid Submission 05

Before proceeding, the bidder must insert their Digital Signing Certificate Token into the computer's USB drive. After doing so, they should enter their file reference and click on the "Encrypt and Submit" button to initiate the bid submission process. This action will launch the Web signer for digitally signing the offer.

IREPS Works Tender Financial Bid Submission 06
IREPS Works Tender Financial Bid Submission 07

The bidder is required to choose their Digital Signing Certificate, and if prompted, enter their DSC token password. Afterward, by clicking the "Select" button, the bidder's bid will be encrypted and then submitted to the IREPS database server. A confirmation of bid submission will be sent to the bidder, along with a list of the data and documents that have been submitted, displayed as demonstrated below.

IREPS Works Tender Financial Bid Submission 08

Upon successful submission of your bid, you will receive a Bid ID. Please make a note of this Bid ID and keep it safe for future reference, should it be needed.
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