The bid amount should also include cost of insurance, making and packing charges, transport and others.
The earnest money deposit will be Rs.1.20 crore.
A bidder should have posted an average annual turnover of Rs.100 crore for the last two successive years.
Besides that, a bidder should be in the gold business for at least three years on the date of bidding.
The bidder should supply at least 25,000 gold coins with BIS Hallmark. The tenderer should offer not less than 25,000 coins by Dec 31.
The rate offered in the tender should be valid for 90 days from the date of opening the technical bid.
According to Challani, the government should reduce the 25,000 coins bid limit to 10,000 coins and the turnover stipulation of Rs.100 crore to Rs.60 crore so that supplies could be effected without much problem.
