What is e PBG in GeM?

What is e PBG?

Typically, an export performance bank guarantee (EPBG) only covers the exporter’s obligation to deliver, exposing lenders in case there is a dispute between the buyer and exporter that prevents money from the buyer from reaching the collection account. …

What is EPBG?

Objective: Design , Development and Deployment of E-PBG Module for obtaining Performance Bank Guarantee for transacting business without human interface on GeM Portal and achieving overall cost efficiency of procurement through automation of processes.

What is Sfms in GeM?

Structured Financial Messaging System (SFMS) is a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. … SFMS can be used for secure communication within the bank and between banks. The SFMS was launched on December 14, 2001 at IDRBT.

What amount bidding is mandatory in GeM?

Except for direct buying up to Rs. 25,000/- subject to establishing the reasonableness of price, the bidding will be mandatory for procurements above Rs. 25,000/-.

What is EMD in tender?

EMD stands for Earnest Money Deposit. It is taken by the organization to ensure that only serious bidders participate in the tender. This is a refundable deposit which is sought in the form of fixed deposit Receipt/crossed Bank Draft/Irrevocable Bank Guarantee.

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Yes, SBLC is legal and fully operational in India when issued by banks certified by the Reserve Bank of India.

What is PAC buying on GeM?

If any buyer wants to purchase a Particular Brand / Model of any product, then the buyer has to obtain a ‘Proprietary Article Certificate’ from the competent authority of his organization and make procurement through ‘PAC Buying’ option available on GeM Portal.

What is OEM GeM portal?

NEW DELHI: India’s national public procurement portal has tied up with original equipment manufacturers (OEM) of information technology hardware and software, furniture and auto components to certify their sellers in a move to weed out counterfeits.

Is Sfms mandatory?

It was mentioned that Department of Financial Services had issued guidelines making it mandatory with effect from 151 August, 2012 for all Public Sector Banks for sending and receiving Letter of Credit or Bank Guarantee through SFMS system only.

What is full form Neft?

NEFT – Transfer Money Using National Electronic Funds Transfer (NEFT Transaction) – ICICI Bank.

What is experience criteria in GeM?

Experience Criteria: In respect of the filter applied for experience criteria, the Bidder or its OEM {themselves or through reseller(s)} should have regularly, manufactured and supplied same or similar Category Products to any Central / State Govt Organization / PSU / Public Listed Company for number of Financial years …

What is GeM and how it works?

Government e-Marketplace (GeM) is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs. GeM aims to enhance transparency, efficiency and speed in public procurement.

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Who can be buyer on GeM?

Buying from Single OEM: According to the provisions of GFR rule 141 A, GeM may be utilized by Governmentbuyersfor direct on-line purchases above Rs. 50,000/‐ also but such purchase has to be through the supplier having lowest price amongst the available suppliers on the GeM.

How do I reject a GeM order?

Changing or Cancelling Your Order

You may cancel your order within 1 hour of submitting on the Gem Eye web portal. Orders cannot be canceled or changed once your order has been confirmed and payment has been received by us.

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