How To Write An Nps Rfda

Transcription

1 Pension Fund Regulatory and Development Authority Selection of Project Management Consultants Response to Queries- Pre-bid meeting by 11:00 hrs on 14 th September, 2015 Sr. No. RFP Document Reference (Number/Page) Content of RFP requiring clarification Points of Clarification required Response by PFRDA I) PricewaterhouseCoopers Private Limited (PwCPL) 1 Section 2.2 (B), point 1 to 6, page It is proposed that the NPS architecture would have multiple CRA(s). Hence, PMC would be required to propose solutions for: Other unforeseen challenges Though the RFP mentions PMC organization to deploy minimum of two resources, we understand amount of work required for monitoring one CRA as per current scenario would increase to almost double, in case there are two or more CRA s in system, because there would be different reports, different deliverables etc. We foresee that the additional manpower may be required to manage the work, hence additional manpower may be deployed based on staff augmentation model on basis of per person month rates applicable. Kindly incorporate the clause for staff For the time being there is only one CRA, however there can be more than one entity performing the function of CRA in due course. The number of personnel required would be reviewed at that point. For the time being the person required would be as indicated in RFP. Page 1 of 7

2 2 Section 2.7, Reporting arrangements (2), page 16 3 Section 8.1 Conditions of contract, page 27 PFRDA will have a right to deduct charge/ fee payable to PMC on pro rata basis on the value of the contracts for the period of absence of the resources The grounds for termination of PMC, will be: a. PMC's inability to perform the duties and requirements as would be specified in the contract. b. Any future direct involvement of PMC with CRA in development of IT infrastructure for NPS operations. augmentation at additional charges as an option in case of assessment additional requirement on mutual consent. There is no clause on permissible leaves for the resources. So would that mean pro rata deduction for every leave that the resource takes? As per our policy each employee is eligible for specified casual leaves and accumulated Earned leaves. Thus we request PFRDA to appropriately clarify/ modify this clause. The grounds of termination are not clear. A termination right for material breach may be had by both the parties, with a reasonable cure period of say 30 days. Moreover, an objective and consultative process should proceed before the PFRDA chooses to exercise its termination rights under this clause. To ensure that the clause is not interpreted in a subjective manner, a mechanism should be put in place to objectively capture service related defaults and allocate the accountability to an appropriate party in a transparent manner. Most importantly, upon termination, PMC team must be paid for the services performed by team till the date of termination. 1. The clause stands. The matter will be examined in a fair and transparent manner and procedure & rule of natural justice will be followed. 2. PMC will be paid for the services rendered till the date of termination. 3. The intent of the clause is that the PMC should not deal with CRA directly without the approval of PFRDA. Page 2 of 7

3 4 Section 7: Payment Terms Page PMC is responsible for a set of a deliverables on a timely basis. The quality and timeliness of these deliverables shall directly affect the payment terms Direct involvement clause should be limited to the contractual period between PFRDA and Firm, and also to the specific resource, however not at the organization level. Request PFRDA to provide detailed acceptance procedure for deliverables Parameters for deliverables are well defined, however subject to modification in future. II) 1 Clause 4.3, Sl 1, Page 21 2 Clause 4.3, Sl 6, Page 21 The bidder should be a company registered under the Companies Act, 1956 since last 3 years The Firm/Agency should have at least one of the certifications CMMi3 to CMMi5/ISO Page 29,31 CERTIFICATE AS TO AUTHORIZED SIGNATORIES 4 Clause 2.1.5, Page 15 Assist PFRDA on all matters relating to and incidental to the monitoring of CRA(s) system KPMG The criteria should also allow Indian registered partnership firms also. Request you to kindly update the eligibility criteria accordingly. These types of certificates are usually found with IT Service Companies. Consulting firms usually do not have such certificates. We are a firm which help companies get CMMi3 to CMMi5 / ISO 9000 certifications. Request you to kindly remove this criterion as it prevents most of the competitive bidders from participating for this tender. Please allow the certificate signed by Deputy CEO / CEO / Chief Operating Officer. Request you to please elaborate the scope for this point Eligibility condition for the prospective entity is well defined and no change is envisaged at this stage. Authorized signatories can be any person authorized by Board to sign the certificates. Broad parameters of functions assigned to PMC are already defined. Functions of CRA would be as per the Page 3 of 7

4 5 Clause 2.2.A.5, page 13 6 Clause 2.3.4, Page 14 implementation and operations. PFRDA (Central Recordkeeping Agency) Regulations, Monitoring of CRA planned Are we responsible to review the Yes downtime activities. downtime activity reports? Will the planned downtime activities be Generation of quarterly report on planned downtime activity. 7 III) Liability cap We noticed that there is no limitation on our liability under the RFP. Request you to limit our liability to one time the fees we will receive from PFRDA under this mandate. 1 Section 4.3 Minimum Eligibility Criteria S.No. 1 Page Number 21 2 Pg. 20 Section 4.2 EARNEST MONEY DEPOSIT (EMD) "The bidder should be a company registered under the Companies Act, 1956 since last 3 years" The EMD of Rs /- (Rupees One Lakh) only in the form of Bank Draft/Bankers Cheque or by electronic transfer conducted within a specific timeline? Is there any specific application that generates automated reports or this is done manually? Ernst & Young LLP Request you to modify as most of the reputed consultancy firms are Limited Liability Firms. It is requested that clause be amended as "The Bidder should be a company registered under Indian Companies Act, 1956/ as LLP or partnership firm as per LLP Act, 2008 since last 3 years " to allow for partnership firms for bidding. We request PFRDA to provide more details on EMD whether it is refundable or not and in case it is refundable request PFRDA to provide This report is system generated (in coordination with CRA). Will be discussed separately with the successful bidder. Also, any penalty/ liability shall be in terms of PFRDA Act, The EMD is refundable and it would be returned within 90 days from the date of opening of commercial bid in usual circumstances. Page 4 of 7

5 3 Pg. 27 Section 8. PMC CONTRACT CONDITIONS 8.1. CONDITIONS OF CONTRACT 4 Pg. 21, Section 4.3 Minimum Eligibility Criteria S.No. 5 5 Page 14, 2.2. DETAILED SCOPE OF WORK OF PMC, B, Point 3 6 Pg. 15, 2.4. MONITORING DATA STORAGE, Point 2 7 Page 15, 2.2. DETAILED SCOPE OF WORK OF PMC, (NEFT/RTGS) must be submitted in the favour of Pension Fund Regulatory and Development Authority payable at New Delhi. 1. The contract shall be valid for a period of 12 months from the date of contract signing. PFRDA shall have the option to extend the duration of the contract for a further period of 12 months. The responding company should have made net profit for the last three(3) financial Years (FY 14-15, FY 13-14, FY 12-13,) as revealed by audited balance sheet Audit of operations and IT systems. Retrieving and sending the information, as and when needed by PFRDA and in required formats Arbitrations / Dispute resolution mechanism timelines for validity of EMD. Request to modify as: The contract shall be valid for a period of 12 months from the date of contract signing. PFRDA shall have the option to extend the duration of the contract for a further period of 12 months on mutually acceptable terms and conditions. Request to modify as: The responding company should have made net profit of at least 50 Cr. in last three(3) financial Years (FY 14-15, FY 13-14, FY 12-13,) as revealed by audited balance sheet Request to provide details of audit like frequency of audit, what all IT systems will be part of audit, will it be business process audit or security audit. Request to provide more details on this, will it be responsibility of Project Management Consultant to retrieving data from systems? Kindly clarify will it require legal aspects also? PMC would not conduct the audit. They are supposed to examine the audit report submitted by CRA and provide their comments/observations. PMC may be required to retrieve details like MIS, performance reports, verification of Bills etc. from CRA system as and when required. Query is not clear. Page 5 of 7

6 B, Point 5 8 Limitation of Liability Clause Kindly add the following clause to the terms and conditions: Client (and any others for whom Services are provided) shall not recover from EY, in contract or tort, under statute or otherwise, any amount with respect to loss of profit, data or goodwill, or any other consequential, incidental, indirect, punitive or special damages in connection with claims arising out of this Agreement or otherwise relating to the Services, whether or not the likelihood of such loss or damage was contemplated. Client (and any others for whom Services are provided) shall not recover from EY, in contract or tort, including indemnification obligations under this contract, under statute or otherwise, aggregate damages in excess of the fees actually paid for the Services that directly caused the loss in connection with claims arising out of this Agreement or otherwise relating to the Services. 9 Report clause Kindly add the following clause to the terms and conditions: Will be discussed separately with the successful bidder. Not acceptable. Any information, advice, recommendations or other content of Page 6 of 7

7 any reports, presentations or other communications we provide under this Agreement ( Reports ), other than Client Information, are for Client's internal use only (consistent with the purpose of the particular Services) including Client's board of directors, its audit committee, or its statutory auditors and not for disclosure externally outside your organization. Client may not rely on any draft Report and EY shall not be required to update its Final Report. 10 Termination clause Kindly add the following clause to the terms and conditions: Not acceptable. Either Party may terminate this Agreement by serving 15 days prior written notice to the other party. Upon termination EY shall be entitled to receive payments of the Services performed, work in progress and expenses incurred by it, till the date of such termination. Page 7 of 7