Financial Soundness Sample Clauses

Financial Soundness. Either Party shall have the right to terminate this Agreement immediately upon written notice to the other Party, if such other Party (a) files a petition under any bankruptcy act or has any such petition filed against it that is not discharged within sixty (60) days of the filing thereof, (b) makes an assignment for the benefit of creditors, (c) appoints or suffers appointment of a receiver or trustee over substantially all of its property that is not discharged within ninety (90) days after such filing, or (d) undertakes an analogous act or undergoes an analogous event under the laws of any jurisdiction to which it is subject.

Financial Soundness. Bidders shall provide documentary evidence; preferably in the form of latest available audited financial accounts proving that the total average annual turnover over each of the last two years exceeded the amount of U$ 900,000 (See section 6.1.

Financial Soundness. SFA and FSMC will work together to ensure a financially sound operation.

Financial Soundness. Applicants must furnish proof that they have fulfilled their obligations regarding the payment of social security contributions, VAT and other taxes, in accordance with the legal provisions of their country of origin. They shall provide a sworn declaration that they are not bankrupt. A minimum accumulated turnover of EUR 3 million (fees for architectural services) during the past three years is required. In order to prove that they meet the aforementioned criteria, the applicants shall provide the documents listed in the competition notice. If more than 70 applicants meet the aforementioned criteria, and if the ranking of the applicants cannot be determined, the Pre-Selection Committee may draw lots. If the applicants can be ranked partially, the drawing of lots might be limited to the remaining positions. 7.3 In addition to the 70 applicants, the Pre-Selection Committee shall select 10 not yet established architects that meet the formal requirements laid down in Section 6.2 to 6.5, but not the criteria laid down in Section 7.2. The selection shall be based upon the following criteria:

Financial Soundness. Average Annual financial turnover for any of the three consecutive years during the last five financial years i.e. 2018- 19, 2019-20, 2020-21 ,2021-22 & 2022-23 shall be equal to or more than Rs 18.90 Lakhs. 2 Documents to Prove Financial Soundness of the Firm (in any of the following manner given below) for any three consecutive years out of five years i.e. Self-attested copy of Income Tax Submission Acknowledgment (SARAL), Audited Profit & Loss account and Balance Sheet indicating CA membership number for above mentioned Financial Years. OR Auditor’s certificate (with CA membership no. / UDIN) for consolidated minimum average annual turnover (as given above) should be enclosed Details to be filled and documentary evidence to be uploaded in e- procurement portal uploaded / Not uploaded Sl. No Qualifying Criteria Details Status 3 Income Tax Registration (PAN) (Copy of PAN to be uploaded) Details to be filled and documentary evidence to be uploaded in e- procurement portal uploaded / Not uploaded 4 GST Regn. No. (Declaration to be attached if Vendor is Exempted from paying GST. For such exempted vendor, Vendor cannot claim GST from BHEL, during the execution of the contract (if awarded) even if their status under GST changes to regular tax payer). (Copy of GST to be uploaded). uploaded / Not uploaded 5 Acceptance to Scope of work, Special and General Terms and Conditions of Contract. (▇▇▇▇ signed and sealed copy of tender document to be uploaded) Details to be filled and documentary evidence to be uploaded in e- procurement portal uploaded / Not uploaded uploaded / Not uploaded 6 “No deviation & Declaration certificate” on bidder’s Letter head as per enclosed Annexure-A2 of tender document (▇▇▇▇ signed and sealed copy to be uploaded.) uploaded / Not uploaded 7 Details of Reverse Auction as per Annexures 1. Details to be filled up in the Contractors letter head and to be uploaded in e- procurement portal as per the respective Annexures 1 to 5 uploaded / Not uploaded 8 Details of PF & ESI Registration (if registration of EPF / ESI / Both (EPF & ESI) is/are not available, self-declaration as per the Annexure 2 is to be enclosed at the time of submission of the tender) uploaded / Not uploaded 9 Local supplier self-declaration (Annexures 3) uploaded / Not uploaded 10 Declaration for non-cartelization (Annexures 4) uploaded / Not uploaded 11 E invoice Declaration (Annexures 5) uploaded / Not uploaded

Financial Soundness. Applicants must furnish proof that they have fulfilled their obligations regarding the payment of social security contributions, VAT and other taxes in accordance with the legal provisions of their country of origin. They shall provide a sworn declaration that they are not bankrupt. If more than 10 applicants meet the aforementioned criteria, and if the ranking of the applicants cannot be determined, the Pre-Selection Committee may draw lots. If the applicants can partially be ranked the drawing of lots might be limited to the remaining positions. 7.4 In addition to the 80 applicants admitted to the first phase, the Pre-Selection Committee shall establish a reserve list of 10 applicants meeting the criteria laid down in Section 7.2 and a reserve list of 5 applicants meeting the criteria laid down in Section 7.3. Both reserve lists shall be established in ranked order. The selection and the ranking shall be based upon the selection criteria laid down in Section 7.2 and Section 7.3