(1) Broadly, the following procedure would be adopted for the selection of Institutional Consultants :-——
(a) The Board will follow the two stage selection procedure i.e. Expression of Interest (EOI) stage to shortlist the Consultants followed by issuance of Request for Proposal (RFP) to short-listed Consultants.
(b) At the beginning of each year, the Board may identify the areas/sectors in which consultancy services would be required during the year. Then the Board will follow the EOI route to shortlist Consultants in each particular area/sector. Thereafter, during the course of the year, the consultant on specific issue/ subject within a particular area/sector will be selected by issuing RFP to the short-listed Consultants in that area/sector. The consukant, who has submitted the lowest financial bid, shall be selected as the L 1. In case the concerned MembBer/Secretary of Board is of the view that methodology other than this is to be used for selecting a consultant on any issue/subject for specific and valid reasons, approval of the Board will be required.
However, in case of highly technical assignments, the Board may invite a fresh Expression of Interest for short-listing the Consultants.
[Part II—Sec. 3(i)]
(c) At any given point of time no consultancy firm shall be awarded more than two assignments. In case any particular consultancy firm is LI in more than two consultancy assignments in any sector/area, then the decision of the Board shall be final for awarding any two assignments to that particular firm. No representation or communication shall be entertained in that respect by the Board from any of the consultancy firm.
(d) Further, in the exigencies of situation and in order to actually ensure the timely completion of assignments, the Board may have to award consultancy assignments to the L 2 party in case of same party having L | rating in more than two assignments. In such cases, the Board may give the option to L 2 party to match the offer of L1 in that particular assignment, failing which the Board may re-tender the assignment.
(e) The type of contract with the consultant will normally be lump sum contract. In case any other form of contract is required to be entered into, approval of the Board will be required.
(f) Selection of Law firms for specific consultancy assignments shall be governed by the procedure for selection of institutional Consultants.