Step – 01 : Notify the Principal with tender circular.
Step – 02 : On obtaining confirmation from Principal, purchase the original tender documents and forward a scanned copy to the Principal by email.
Step – 03 : Collect the bid security from the local bank
Step – 04 : Submit the tender together with Proforma Invoice from the Principal along with Authorization Letter.
Step – 05 : Notify the Principal about the tender result on same day. If we are the lowest bidder, bid security remains with buying authority, otherwise it is released back.
Step – 06 : If bid is accepted, buying authority issues official Letter of Intent (LOI) which is duly collected and emailed to Principal for their onward preparation to issue the Performance Guarantee.
Step – 07 : Principal issues the Performance Guarantee from their bank in the form of counter guarantee to its local corresponding bank in Dhaka, Bangladesh. Upon receipt, we collect the guarantee and submit to concerned buying authority.
Step – 08 : After receiving Performance Security, buying Authority notifies date for contract signing and Principal is informed accordingly. In case the Principal seller is unable to come for contract signing, then Globo-Piu signs the contract on their behalf and sends to principal by DHL.
Step – 09 : Buying Authority opens the L/C and a copy is forwarded to the Principal by Globo-Piu.
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