COMPANY NAME

Document No.: / /SOP/BB/01 Page No.: 01 Total Pages: 3

Date of Issue: 00-00-0000 Rev. No.: - Rev. Date: -

PROCEEDURE FOR OBTAINING AND CONTROLLING BID BOND

PURPOSE:
The objective of this Standard Operating Procedure is to place on record the
procedures of obtaining and controlling Bid Bonds from issue to return to the Bank.
This shall remain in force for compliance by all concerned.

SCOPE:
The scope of this procedure covers all the Bid Bonds issued from any Local bank either
in Pak Rupees or any other currency and or received from Foreign Suppliers.

RESPONSIBILITIES:

The following Key personnel are responsible for managing and implementing the Bid
Bond activities:-
(i). Chief Executive.
(ii). Director Finance
(iii). All Directors.
(iv). Data Entry Operator.
PROCEDURES:

1. Any dealing desk requiring Bid Bond makes “Bid Bond Request”
Document No. FD-001 (Annex I) and sends to Director Finance.
2. 2nd Part 0f “Bid Bond Request” is filled-in by The Director Finance and
the same is sent back to dealing desk.
3. Dealing Desk prepares the letter addressed to bank with complete
particulars and hands over to the Director Finance along with “BBR” (Bid
Bond Request).
4. Director Finance arranges Bid Bond on priority.
5. After collection of Bid Bond from bank Director Finance makes entry of
Bid Bond No. etc in “BBR” and hands over to Date Entry Operator both
Bid Bond and “BBR”.
6. Data Entry Operator makes sets of photo copies of Bid Bonds as
mentioned in “BBR” plus one set for own record and delivers Original
and sets of required photo copies to concerned dealing desk. One set of
photo copy is filed by Data Entry Operator in Bid Bond Master Control
File.
7. Data Entry Operator makes entry in Computer and affixes stamp
“Entered” on “BBR” and files in Master Bid Bond Control File.
8. In case, where revision is required in bid bond expiry date, dealing desk
raises “Revision Request”, Document No. FD-002 (Annex II)
9. and hand overs to Director Finance.
10.Director Finance arranges revision from Bank and hands over Revised
Bid Bond and Revision Request to Data Entry Operator. The Data Entry
Operator updates revised expiry date in computer and affixes stamp
“Entered” on Revision Request and makes two sets of photo copies and
forward original plus one set to dealing desk for onward submission to
client and filing one set in concerned file. Data entry operator replaces
revised bid bond with previous copy in master file and revision request is
filed in bid bond request file.
11.Within 7 days of expiry date of bid bond, the data entry operator raises
“Follow Up Request” Document No. FD-003 (Annex III) and forwards to
the concerned dealing desk to get back bid bond. The concerned dealing
desk writes letter to client and follows to get back bid bond. In case of
no reply from client, follow-up letter is automatically written by dealing
desk after every 15 days until the original bid bond is received back from
 client.
12.In case Bid Bond is not received back by data entry operator within 3
months from the follow up request, again follow up request is made by
data entry operator and forwarded to dealing desk. This process will
continue until the Bid Bond is received back from client.
13.After receipt of bid bond from client, dealing desk prepares letter
addressed to concerned bank and hand overs to The Director Finance
original bid bond and one copy of letter for onward submission to bank.
14.Director Finance hands over letter and Original Bid Bond to bank and
gets acknowledgement in duplicate copy.
15.Duplicate copy is handed over to data entry operator who makes entry
in “Bid Bond Request” and in computer.
16.Data entry operator hands over the duplicate copy to dealing desk to file
in concerned file and gets signature on bid bond request.
17.The Director Finance is responsible to get Bid Bonds Statements from all
banks after every 3 months to monitor expired and valid bid bonds.

RECORDS:
All records related to Bid Bonds are kept with Data Entry Operator and dealing
desks.

ORIGINATED BY APPROVED BY

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DITRIBUTIONS:

1. Chief Executive. 4. Director I.

2. Director Finance. 5. Director II.
3. Director Sales. 6. Data Entry Operator.