TOR(Final) - for inviting Quotes for IFC Implementation at AEPC
Apparel Export Promotion Council (AEPC)
Notice inviting Quotes/Proposals for IFC implementation
The Apparel Export Promotion Council, sponsored Ministry of Textiles, Govt. of India was incorporated on 22nd February, 1978, as a Company Limited by Guarantee and licenced under Sec. 8 of the Companies Act 2013 (earlier under Sec. 25 of the companies Act 1956) with the objective to promote, increase, and develop export of all types of Readymade Garments.
As AEPC marches for expanding global markets, the gap between the exporters and overseas buyers seems to bridge. AEPC works closely with Government of India on policy issues in apparel sector. The council provides specialized services and for leveraging brand India to the global business opportunities for the industry.
The main activities comprise of exploring markets and identifies items offering export potential, conducting market surveys on identified items and provide market intelligence, establishing contacts with the prospective buyers to generate their interest in India products and providing library facility to members to know latest fashion trends in world market, sponsoring trade delegations, study teams and sales teams to overseas market for exports promotion, etc.
The brief financials of the AEPC as per Annual Report 2014-15 is as under:
|Balance Sheet Size:||Rs. 234.80 Crore,|
|Reserve & Surplus:||Rs. 126.50 Crore|
|Total Assets:||Rs. 64.72 Crore,|
|Total Income:||Rs. 65.22 Crore,|
|Total Expenditure incl. Dep.:||Rs. 48.82 Crore|
|Total Employees Strength:||163 Nos.|
Notice inviting Quotes/Proposal:
1. The AEPC intend to update its existing internal controls in line with the requirement of the Companies Act 2013, Companies (Accounts) Rules, 2014. For this purpose AEPC invites quotes/proposals from the reputed professional firms for Test the compliances & effectiveness of its existing IFC and implementation of Internal Financial Control over Financial Reporting (IFCR) in the Council to comply with the relevant provisions of Companies Act 2013, Companies (Accounts) Rules, 2014, Guidance Note issued by the Institute of Chartered Accountants of India and other applicable Rules.
2. The agency would test the compliances & effectiveness of existing IFC and would suggest for improvement and implementation thereof. The Agency would assist to prepare flow charts, identify weakness in existing internal financial control and will MAP internal financial controls over financials reporting (IFCR) and test the controls and prepare the risk control matrix.
The Agency would provide a suggestion matrix i.e. the manner & way-out for curing weakness/shortcomings reported in internal financial control of the council.
The Agency should be Delhi/NCR based or must maintaining an office in Delhi/NCR.
The proposed process coverage would be â€“
- a) Order to cash (including revenue from services)
- b) Procurement to pay and inventory
- c) Finance and accounts
- d) Fixed assets management
- e) Information technology and application controls
- f) Entity level controls
- g) HR & payroll
- h) Treasury and investments
- i) Monitoring,
- j) Any Other matter related thereto.
6. The agency will assist AEPC during IFC Audit by Statutory Auditors for IFC reporting.
Terms and Conditions:
a) Date & time for submission of Quotes/Proposals:
|1||Issue of Notice & Document||06/02/2017|
|2||Last date & time for submission of quotes/proposals||21/02/2017 up to 2:00 P.M.|
b) (i) The last date of receipt of quotes in a sealed envelope on or before 06.02.2017 up to 2.00 pm addressed to The General Manager (Finance), Apparel Export Promotion Council, Apparel House, Sector-44 Institutional Area, Gurgaon, Haryana-122003. Alternatively, the sealed envelope may be sent through Registered post/ Courier/by hand and should reach to us on or before the last date & time. The agency will ensure that it is received in Apparel House, Gurgaon before the due date & time. The quotes/offers received after the due date and time will not be entertained. The quotes/offers received through e-mail would not be considered.
(ii) The quotes should be in two separate sealed envelopes clearly mentioned as "Technical Quotes" and "Financial Quotes" and both the sealed envelopes to be put into another envelope and it should be super scribed as "Proposal/Quotes for Implementation of Internal Financial Rule ".
|1||Total number of Experience of Firm||5 Year|
|2||Experience in IFC audit/implementation||2 Companies with minimum turnover of Rs. 50 crore|
|3||Experience of Audit/Internal Audit of Export|
|2 Companies with minimum turnover of Rs. 50 crore|
|4||Average Annual Turnover of the Firm for last three financial year||Rs. 50 Lac|
|5||Number of Qualified CA (Partner/paid with minimum 2 years' experience)||Five|
|6||In case the Agency is based out of Delhi/NCR and maintaining an office in Delhi/NCR.||The NCR office must have a team of professionals with IFC experience.|
PROCEDURE FOR SUBMISSION OF QUOTESS
The agency qualifying the eligibility criteria shall submit the tender in two separate covers, as follows:-
Cover (A) Super scribed as Technical Quotes, which should consist of the following documents:-
1. Documentary evidence in support of Eligibility Criteria , namely:
i. Copy of the Balance sheet and profit and loss account showing annual financial turnover of at least Rs. 50 lakhs during the previous financial years, ending 31st March, 2015.
ii. Copies of the work orders/PO/Agreements evidencing that the agency has experience of IFC implementation.
iii. List with qualifications of in-house implementation team.
2. Demand Draft for Rs. 25,000/- towards EMD in favour of "Apparel Export Promotion Council" payable at Gurgaon, Haryana.
3. Photocopies License /Registration Certificate of the firm.
4. Signature of the authorized signatory on each page.
5. Copy of PAN Card of the firm/proprietor
6. Copy of Service Tax Registration (ST â€“ 2 forms)
Cover (B) Super scribed as Financial Quotes consisting of the quotes amount separately indicating statutory taxes, charges and levies etc.
a) Other Terms and conditions:
1. The selected agency should not sublet the work in part or full to another agency without specific permission of AEPC.
2. There will be no escalation in the price during entire contract period.
3. The contract shall be terminated in respect of the followings:-
(i) If the service of the agency is not found satisfactory,
(ii) In case the agency fails to execute the job as per the terms and conditions of awarded work, the balance / total work will be got executed through other agencies at the agency's risk and cost.
(iii) The decision of the AEPC will be final and binding on the agency and no request will be entertained in any manner.
4. In case of any dispute or difference arising in relation to meaning or interpretation of the award, Chairman F&B, AEPC would be the final arbitrator. The decision of the arbitrator shall be final and binding on both the parties.