Commercial Contracts in Palakkad Division to switch over to e-auction
Mangaluru, May 12, 2022: The railway is going for e-auctions in place of e-Tendering for a few commercial contracts like leasing of parcel space on trains, parking lots, and Commercial publicity.
In this connection, Palakkad Division organized an interactive session with Vendors today. Officials from the State Bank of India (SBI) banking partner of Railways in the implementation of E-Auctions in commercial contracts also took part in the meeting.
Inaugurating the meeting, Divisional Railway Manager, Trilok Kothari said that the introduction of the E-Auction platform for commercial contracts will ease the entire process and help to reduce the time consuming for arriving at the contracts.
As the commercial contract bidding in Indian Railways takes place on the same platform it will open up more opportunities for the vendors. They can participate in the bidding activities of other Divisions of Indian Railways too using it.
Ministry of Railways introduced E- Auctions for commercial contracts as a trial measure in the last month over 11 Railway Divisions. It is being extended to other Divisions now.
E-Auctions will be carried out through the IREPS site and auction catalogues will be published by the Divisions, a minimum of 12 days in advance of the day of the auction.
Quick finalization and the possibility of quick re-awarding of contract in case of failures make it a more user-friendly format. There is no geographical restriction on bidders/applicants for registration and participation in any E-Auction through Indian Railways. In addition, the relaxed eligibility criteria attract more vendors to the contact system.
The vendors can contact the commercial branch, Palakkad Division for guidance on the migration to the E-Auction platform Additional Divisional Railway Manager-I R.Raghuraman, Senior Divisional Commercial Manager, Dhananjayan P.A, and other branch Officers of Palakkad Division participated in the meeting.