PPA -2007, Chapter 4, clause 34

34. Opening of Financial Proposal:

The financial proposals of only those proponents who have been qualified from the evaluation of technical proposals shall be opened as prescribed.

PPR -2007, Chapter 6 clause 79

79. Opening of Financial Proposal:

(1) The evaluation committee shall have to open envelop of financial proposals in the presence of the proponent or their representatives.Provided that there shall be no constraint for opening financial proposal for the reason of absence of the proponents or their representatives.

(2) After opening the envelop of the financial proposal pursuant to Sub-rule (1), the evaluation committee shall have to read out the names of the proponents, the marks obtained in the technical proposals and the service charges proposed by them in the financial proposals and prepare a Muchulka (minutes) having the following contents:-

• Name and address of the proponents,
• Proposed service charges,
• Particulars of any discount offered in the proposed service charges, if any
• Description of the discrepancies, if any, between figures and words,
• Whether the proponent or his/her agent has signed the financial proposal or not,
• If any matter or content of the financial proposal is effaced whether such efface is signed by the proponent or his/her representative or not and the description of the amount and the content effaced,
• Other necessary matters considered appropriate by the Public Entity.

PWD Part II, Procedural Directives, Volume A 15.3, Step 8

Step 8. Evaluation of Financial Proposals

The process of evaluation of the Financial Proposal includes checking whether all items of the technical proposals are priced, and correcting computational errors and currency conversions in order to bring all the Financial Proposals to an equal financial footing only then are the Financial Proposals evaluated. The following guidelines shall be followed while evaluating financial proposals for consulting services:

• The Financial Proposal shall be opened publicly in the presence of the consultant representatives who choose to attend.
• The names of the consultant, the Technical Proposal scores, and the bid prices shall be announced and recorded at the public opening of the Financial Proposals. The client shall prepare the minutes of the public opening.
• The financial evaluation committee (consisting of technical, accounting and legal experts) shall review the Financial Proposals and correct any arithmetical errors, convert prices to a single currency (local or fully convertible foreign currency as stated in the request for proposals).
• The conversion of currency shall be done as specified in the TOR.
• For the purpose of financial evaluation, the cost shall exclude contingencies, provisional sums and local taxes, but shall include other reimbursable expenses.
• Prices shall be brought to equal financial footing of all qualified and responsive proposals. If part of the work has been omitted or not priced, on appropriate amount shall be inserted, e.g. budgeted amount or the highest amount in the other financial proposals.
• The authenticity and adequacy of the prices shall be verified with evidence received from authorities, professional societies or other similar projects.