Tender study is an analysis or rating study that was prepared by a measure surveyor about the stamps which submitted by the tenderers. This study was prepared to give suggestions to the populace sector client, i.e. the authorities or the private sector employer about the best contractor for the undertaking through measuring the submitted stamp paperss in assorted facets and to set up a monetary value for the resulting contract. After taking the recommendations from stamp study and advice from the advisers into consideration, the client or employer will choose his or her preferred pick of contractor. The throughout procedure and consequences of the stamp rating are keep confidential.
Upon the entry of stamps from the tenderers, a Tender Board or a Tender Assessment Panel will be formed. Tender Board or Tender Assessment Panel is a group of independent officers which included the measure surveyor, to transport out a stamp reception procedure for competitory stamps, revision and confirm best and concluding offers. The stamp board meets on a set day of the month at a specified clip to open and treat stamp paperss submitted which they so forwarded to acquisition squads for commercial, proficient and fiscal rating. The Tender Board will guarantee that stamps are opened and processed in an unfastened and crystalline manner.
In add-on, the stamps will be evaluated and recommendations will be made to the the client and the Tender Board. The blessing and credence of a stamp is made within the cogency period of stamp, which is usually 60 yearss as set in the stamp papers. To avoid the extension of one stamp, stamp should be evaluated and recommendation made within 30days from the day of the month set in the handing over of stamp. In instance stamp has to be extended due to ineluctable fortunes, understanding from the recommended tendering party should be obtained at least two hebdomads before the termination of cogency day of the month.
By and large, the stamp rating procedure can be divided into two phases, i.e. preliminary phase rating and concluding phase rating. The preliminary phase of stamp rating or besides known as Preliminary Analysis, comprises of analysis on completeness of stamp, analysis on compulsory paperss and analysis on minimal capital required for the undertaking, whereas the concluding phase of stamp rating comprises of analyses on proficient and fiscal capablenesss of the tenderers. Besides that, arithmetical cheque will besides be carried out on the stamps along the stamp rating procedure.
Before the stamps to be taken into consideration, the stipulation of stamp rating is the stamp must be submitted before the stamp shutting day of the month and clip set out in the Letter of Invitation to Tender, i.e. normally before 12.00pm midday of the stamp shutting day of the month. If the stamp was submitted subsequently than that, it is fall under the class of ‘late stamp ‘ . Late stamp will non be accepted or of submitted, non opened for farther consideration due to grounds of equity and answerability. This is usually applied to public sector undertakings where the criterions refering to transparence and answerability are particularly high. However, the determination whether to open and see such a stamp is strictly at the discretion of Tender Board and the private sector employer. Furthermore, stamp amended by the tenderer on his or her ain inaugural whether in authorship or other signifiers, without consent from the undertaking client or employer will besides be rejected for consideration.
After that, the Quantity Surveyor will carry on the preliminary or first phase of stamp rating procedure, i.e. Preliminary Analysis. It is an appraisal system based on a few stipulation set to find whether the tenderers are qualified to be considered for the following phase rating. Purposes of this appraisal system are to guarantee that the tenderers to be considered are sensible in term of stamp monetary value, complete of needed paperss and have sufficient capital to get down plants.
First, the Quantity Surveyor will analyze the stamps whether the tenderers have offered the sensible stamp monetary value. For authorities undertakings, if the figure of tenderers is less than 10 individuals, the section estimation or adviser ‘s estimation will be used for the comparing of stamp monetary values. Normally, a fluctuation monetary value of 15 % of section estimation or adviser ‘s estimation for stamp monetary values offered by tenderers is assumed sensible. If the figure of tenderers is 10 individuals or more than that, the Public Works Department will follow the cut-off method to shortlist the tenderers for farther rating. A cut-off monetary value is established as the minimal stamp monetary value which is assumed executable and sensible to be accepted in conformity to market monetary value through a statistical method. This is to avoid undertaking execution failure due to the contractor ‘s inability to set about or finish the plants caused by presenting contract to a tenderer ‘s with excessively low or unrealistic stamp monetary value. Therefore, normally merely tenderers with stamp monetary value above or equal to the cut-off monetary value will be considered and evaluated. In add-on, completion period proposed must non transcend the scope of estimated completion period.
Then, the Quantity Surveyor will look into the facet of Completeness of Offer or Tender submitted by the tenderers. Some elements of Completeness of Tender which taken into consideration are the Form of Tender must be signed, the signature must be the authorised individual, stamp monetary value must be stated in the Form of Tender, enrollment with Contractor Services Center ( PKK ) or Construction Industry Development Board ( CIDB ) must be valid and have stated the proposed completion period. Lone stamps that complete and free from any lack or errors which may impact the current contract patterns in legal facets, are qualified to be considered. Tenderers which failed to make so, their stamps will be mentioned as “ INCOMPLETE ” to the client and stated the grounds.
The undermentioned procedure is to look into the facet of Sufficiency of Compulsory Documents. All tenderers are obliged to subject all compulsory paperss needed which stated in the Instruction manuals to Tenderers for the stamp rating intent. The compulsory paperss are the company hearer ‘s study, bank history ‘s monthly statement, bank ‘s study on company fiscal position and study on current undertaking by resident designer or occupant applied scientist or undertaking director. These paperss are needed to turn out whether the tenderers have sufficient fiscal capableness, i.e. possess minimal sufficient capital to get down the plants. Without submitted the compulsory paperss, particularly for company fiscal paperss, stamp rating can non be carried out and that stamp is non measure up to be considered and can be rejected.
Besides, an analysis on minimal capital required for the undertaking will be conducted. The analysis will be done on the company ‘s current assets, current liability, bank history statement, fixed sedimentation, bonds, recognition installations from bankers or providers, overdraft and bank loan. Hence, the company fiscal paperss submitted by the tenderers will organize a footing or cogent evidence for this rating facet. For authorities undertakings, the minimal capital analysis is made through computation of 3 % of the Builder Works value based on section estimation.
Along the stamp rating procedure, the Quantity Surveyor will transport out the arithmetical cheques on the stamp paperss. It comprises of rectifying arithmetical mistakes in extensions, casting, etc and insulating tangible mistakes on pricing, but the stamp sum remains unchanged. This step is to rectify errors for the intent of future fluctuation. A elaborate scrutiny of Bills of Quantities including comparing of monetary values will besides be carried out on all stamps submitted.
If the tenderers have fulfilled all the demands in the preliminary phase ‘s rating, so the tenderers are considered or qualified for the concluding phase ‘s rating. The concluding phase ‘s rating is carried out based on a marker or marking system which the marker are made objectively and quantitatively for each standard assessed. First, it will analyze the tenderer ‘s first facet of proficient capableness, i.e. experience. Appraisal is made based on the entire value of same and similar nature of tendered plants completed in the past five old ages. This is to acquire cognize that whether the tenderer is capable or have similar nature of plants experiences for the tendered undertaking.
Next, it will analyze the tenderer ‘s 2nd facet of proficient capableness, i.e. fiscal. It is based on the entire annum value of undertaking predicted to be provided from the tenderer ‘s assorted beginnings of finance. It is of import to turn out that the tenderer has the fiscal capableness to put to death the undertaking. Marks are given harmonizing to their fiscal capableness.
After this, it followed by the 3rd facet of tenderer ‘s proficient capableness appraisal, i.e. the proficient workers and ownership of basic works and machinery. Appraisal is made based on their proficient workers, such as designers, applied scientists, measure surveyors, technician, and polytechnic and proficient plant helpers. The tenderers need to subject the KWSP statement and photocopies of Certificates of Workers Qualification to turn out that they have qualified and adequate figure of proficient workers to put to death the tendered plants. The lists of works and machinery with back uping paperss are besides required to subject for the rating.
Last, it will analyze the tenderer ‘s current works public presentation. This analysis is aimed to guarantee that the tenderers do non hold “ projek sakit ” , i.e. undertakings lagged behind 30 % or more from the agenda of plants or works programme. In add-on, it is of import to guarantee that the tenderers do non hold jobs of employment ‘s finding by other client or employers. After the both preliminary and concluding phases of stamp rating have completed, the consequences, justification, recommendation, and tenderers ‘ necessary item information and facts will set up and roll up together in a systematically manner to organize a stamp study and submit to the client or employer.
In decision, stamp study is produced to help the client or employer in determination devising procedure in order to choose most suited and capable contractor to finish the undertaking within specified clip and quality.