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Request for Proposal and Quote
For
Integrated Corporate Financial Management Solution(ICFMS)
In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act
1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable.
(Also referred to as Project in this RFP)
(Experience Next Generation Banking)
Corporate Financial Management Department
Head Office, SIB House, IIndFloor, Mission Quarters,
Thrissur, Kerala-680001
Ph:-0487-2429628/2420020(Ext:-389)
Name of the Company / Bank : The South Indian Bank Limited
Date of issue of RFP document :
08/08/2016
RFP reference number : CFM/01/2016
Last Date and Time for receipt of Bid :
24/08/2016 05:00 PM IST
Corporate Financial Management Department, The South Indian Bank Limited. Page 2
Disclaimer
The information contained in this Request for Proposal (RFP) document or information provided subsequently
to bidder(s) or applicants whether verbally or in documentary form by or on behalf of The South Indian Bank
Limited, is provided to the bidder(s) on the terms and conditions set out in this RFP document and all other
terms and conditions subject to which such information is provided.
This RFP document is not an agreement and is not an offer or invitation to bid by The South Indian Bank
Limited to any parties other than the applicants who are qualified to submit the bids (“bidders”). The purpose
of this RFP is to provide the bidder(s) with information to assist them in formulation of their proposals. This
RFP does not claim to contain all the information each bidder may require. Each bidder should conduct its
own investigations and analysis and should check the accuracy, reliability and completeness of the
information in this RFP and where necessary obtain independent advice. The South Indian Bank Limited
makes no representation or warranty and shall incur no liability under any law, statute rules or regulations as
to the accuracy, reliability or completeness of this RFP. The South Indian Bank Limited may in its absolute
discretion, but without being under any obligation to do so, update, amend or supplement the information in
this RFP.
Corporate Financial Management Department, The South Indian Bank Limited. Page 3
TABLE OF CONTENT
I. INVITATION FOR BIDS: ................................................................................................................ 4
II. ABOUT THE SOUTH INDIAN BANK LIMITED ................................................................................ 8
III. BACK GROUND............................................................................................................................ 9
IV. SCOPE OF WORK ....................................................................................................................... 11
V. FUNCTIONALREQUIREMENTS–FIXED ASSET PROCUREMENT SYSTEM (FAPS) ......................... 18
VI. FUNCTIONAL REQUIREMENTS FOR FIXED ASSET MANAGEMENT SYSTEM(FAMS): ................. 21
VII. FUNCTIONAL REQUIREMENTS: CORPORATE FINANCIAL MANAGEMENT SOLUTION (CFMS): 24
VIII. OTHER TECHNICAL REQUIREMENTS ......................................................................................... 26
IX. AMENDMENT OF RFP ............................................................................................................... 31
X. INSTRUCTIONS FOR BID SUBMISSION ...................................................................................... 31
XI. SUBMISSION OF BIDS ............................................................................................................... 32
XII. ADDITIONAL INSTRUCTIONS FOR BIDDERS .............................................................................. 33
XIII. TERMINATION .......................................................................................................................... 37
XIV. ELIGIBILTY CRITERIA .................................................................................................................. 41
XV. SELECTION STRATEGY ............................................................................................................... 43
XVI. AWARD OF CONTRACT ............................................................................................................. 45
Annexure-1Check List for Submission of Bid Documents ........................................................................ 50
Annexure-2Authorization Letter Format ................................................................................................. 51
Annexure-3Non-Disclosure Agreement Form ......................................................................................... 52
Annexure-4Check list for submission of eligibility criteria ...................................................................... 56
Annexure-5Profile of bidder/Partner ....................................................................................................... 56
Annexure-6Implementation methodology for all the three modules ..................................................... 57
Annexure-7Reference site details ............................................................................................................ 58
Annexure-8Past Experience ..................................................................................................................... 59
Annexure-9Team profile .......................................................................................................................... 60
Annexure-10Training ............................................................................................................................... 61
Annexure-11Cover Letter for Commercial Bid......................................................................................... 62
Annexure-12Format for furnishing the price of Software/Hardware (Bill of Material) .......................... 63
Annexure-13Table for Arriving at the Total Ownership Cost .................................................................. 65
Annexure-14Bid Submission Covering Letter .......................................................................................... 66
Annexure-15Notification of Acceptance.................................................................................................. 68
Annexure-16Specimen Contract Form………………………………………………………………………………………….. ……69
Annexure-17Performance Bank Guarantee Format ................................................................................ 75
Corporate Financial Management Department, The South Indian Bank Limited. Page 4
I. INVITATION FOR BIDS:
The South Indian Bank Ltd, hereinafter called “The Bank” intends to invite Techno-Commercial bids from
eligible Bidders to provide end to end software solution for Integrated Corporate Financial Management
Solution (ICFMS) which includes;
1) Fixed Assets Procurement System (FAPS)
2) Fixed Asset Management System (FAMS)
3) Corporate Financial Management Solution (CFMS) - Consolidation of Financial Statement & Analysis
as per IFRS converged Indian accounting Standards (IND-AS)
In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-
AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable.
A complete set of Request for Proposal (RFP) can be obtained during office hours on all working days either in
person or by Post/E-mail on submission of a written application. Alternatively, complete set of RFP for the
above purpose can be downloaded from Bank’s official website www.southindianbank.com- Tender/Auction-
RFP for Integrated Corporate Financial Management Solution (ICFMS). The bidder who has purchased/
downloaded the RFP is required to submit a non-refundable fee of Rs.10,000/- in the form of DD/NEFT, in
favour of “The South Indian Bank Ltd” payable at Thrissur within the last date and time of submission of bid,
failing which the bid of the concerned bidder will not be entertained. The hard copy of this document (RFP)
procured from the Bank or downloaded from the official website, will alone be treated as authenticated copy
for all purposes.
Bid Collection and submission details are given below.
Bid Reference number : RFP CFM/001/2016
Date of issue of RFP : 08.08.2016
Last date and time for seeking
Clarification : 16.08.2016, 5.00 PM
Clarification Response from Bank : 18.08.2016, 5.00 PM
Last date& time for submission
of Bids : 24.08.2016, 5.00 PM
Last date for final negotiation
with the qualified bidders : On or before 30.09.2016
Bid submission fee (Non
Refundable) :
Rs. 10,000/- in the form of Demand Draft in favor of “The
South Indian Bank Ltd” payable at Thrissur. The DD should be
submitted along with the Bid. Alternatively the bid submission
fee may be remitted through NEFT to Account
Number:0299073000000750(IFSC Code: SIBL0000299).
Account Name: The South Indian Bank Head Office CFM
Department. The bidders who opts payment by way of NEFT
should quote the UTR number of the transaction.
Corporate Financial Management Department, The South Indian Bank Limited. Page 5
Address for submission of bids :
Mr. C.P Gireesh,
Chief Financial Officer, The South Indian Bank Ltd
Corporate Financial Management Department, Head Office,
SIB House, 2nd Floor, Mission Quarters, Thrissur,
Kerala, India – 680001
Contact Person : Mr.Shameer T K, Chief Manager,
Corporate Financial Management Department
Telephone :
Tele: 0487-2429628/2420020(Ext:-389)
Mobile: 09447015055
E– mail : [email protected] copy to [email protected]
Note:-
Before bidding, the bidders are requested to carefully examine the RFP Document and the terms and
conditions specified therein. If bidder requires any clarification on this RFP, may notify the Bank in writing
or by email at the Bank’s mailing address indicated in the RFP on or before 16.08.2016, 5:00 PM.
The purpose of this RFP is to enable the bidder to communicate their qualifications and product
specifications to facilitate the selection of an appropriate software solution.
Bidders should notify the Bank if any error, omission, or discrepancy found in this RFP document on or
before16.08.2016 4:00 PM.
The check list for submission of annexures to be attached along with the bid are given in Annexure-1
All costs and expenses (whether in terms of time or money) incurred by the bidders in anyway associated
with the development, preparation and submission of responses, including but not limited to attend the
meetings, discussions, demonstrations and for providing any additional information required by Bank,
will be borne entirely and exclusively by the bidders.
The bidders must conduct its own investigation and analysis regarding any information contained in the
RFP document and the meaning and impact of that information.
All bids (Technical & Commercial) must be submitted at a time by giving full particulars in separate
sealed envelopes to the Bank’s address within the time period specified above.
The Bank reserves the right to accept or reject in part or full any or all the offers without intimating any
reasons whatsoever.
No further discussion/interface will be entertained with bidders whose bids have been technically
disqualified.
Those technically qualified bidders may depute their representative/s (<3) to attend the negotiation
meeting as per the time schedule intimated by the bank. The representative/s has/have to submit an
authority letter duly signed by the bidder, authorizing him to represent and attend the negotiation
process on behalf of the bidder. The format of the authorization letter is given in Annexure-2.
The scope of the services specified under this RFP is governed in accordance with the Best Practices and
Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant
Acts, rules, regulations, directions as applicable. Any change made by RBI or any other statutory
authorities on these matters by way of amending the existing guidelines or issue of fresh guidelines on
these matters shall automatically enlarge the scope of the work specified under this RFP and the duties
Corporate Financial Management Department, The South Indian Bank Limited. Page 6
of selected bidder shall deemed to be discharged only when the Bidder complies with the revised
guidelines issued on this matter.
The Bank expressly stipulates that the selection of bidder under this RFP is on the understanding that
this RFP contains only the principal provisions for the entire assignment and the services rendered in
accordance with the scope of work defined under this RFP and are only a part of the assignment. The
bidder shall perform all such tasks, render requisite services as may be required for successful
completion of the project to the satisfaction of the Bank at no additional cost to the Bank, to attain the
underlying objectives for which this RFP is floated.
The Bank reserves the right to change the dates mentioned above or in the RFP, which will be
communicated through the Bank’s web‐site or through E-Mail.
Any bid submitted without payment of Rs. 10,000 being the Bid Submission Fee, shall be immediately
rejected without any notice.
The term ‘Project period/duration of project/tenure of project’ used in this RFP includes
Implementation period (FAPS & FAMS Modules - 2months, CFMS- 1Year), Warranty period (2 years),
AMC period (5 years).
The term ‘GO LIVE date’ used in this RFP refers the point of time in which the Banks is capable for
preparing financial statements in accordance with the Best Practices and Guidelines of RBI/Companies
Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations,
directions as applicable using bank’s own data to the satisfaction of top management. Further it is
envisaged that as on GO-LIVE date the information residing in Finacle 10, Polaris, HRMS, Risk
management software (EWIRM), LOS or from any other source system should flow seamlessly into the
proposed solution to meet functional requirements specified in this RFP.
Selected bidder based on this RFP terms and conditions should supply, install and commission
integrated(ICFMS) software solution in the bank to the satisfaction of the top Management.
The necessary details regarding hardware and supporting software specifications (including the licenses
required or free wares if any) to be submitted at the time of bid submission. The hardware/related
software to be suggested in accordance with the bank’s data size, growth plans and the same should be
capable to use without any issues at least for the next 7 years. Suitable hardware will be procured by
the bank separately. While sizing the hardware it is to be ensured that the system gives optimal through
put, however the systems should not be oversized also.
A. Who can submit the Bid?
a. The bid shall be submitted by either an OEM(Original Equipment Manufacturer/ Product Vendor)or aSI
(System Integrator). The term bidder used in this RFP refers to the entity who has submitted the bid.
b. One bidder cannot submit more than one bid.
c. The bidder is responsible to carry out the entire end to end implementation of the software solution as
per the scope of work specified in this RFP.
d. If the bidder intends to partner with another entity to complete the entire assignment, they should
clearly specify in the bid the name of that entity (i.e. OEM/SI) with whom they proposes to partner.
Further the bid should clearly spell out the tasks proposed to be undertaken by the partner. If any of the
functional/technical requirements is achieved with the help of partner, details of such requirements
Corporate Financial Management Department, The South Indian Bank Limited. Page 7
shall be mentioned in the bid and during the product demonstration the partner shall display his
capability in achieving the aforementioned requirements. The partner is also required to fulfil the
eligibility criteria specified in this RFP and the bidder is responsible for furnishing the required details to
check the eligibility of partner.
e. The Bank shall enter into the contract only with system integrator (SI) and the contract shall clearly
outline the obligations to the Bank during the course of implementation and thereafter.
f. One OEM vendor cannot act as a partner for more than two SI’s who had submitted the bid.
g. The Bank intends to procure Perpetual/Permanent Enterprise Licenses with fixed warranty/AMC. The
Bank should have the ownership and right to use these licenses without any restriction in any nature
and at all geographic locations. The bidder should also ensure that the official & authentic license
definition of software solution is provided with the Bank.
h. All the new software release/version / upgrades or otherwise for any reason should be made available
to the Bank at free of cost till AMC periods and the Bank is not liable to pay / oblige SI or any OEM any
additional charges / fees pertaining to third party royalty charges etc. in this regard, also this should not
be the reason to restrict the Bank from upgrading to the new release / new version of the software. All
statutory changes are to be incorporated as per the guidelines and timeline specified without any
additional cost to the bank including Warranty and AMC Periods.
i. All statutory changes regarding GST to be incorporated as per the guidelines without any additional
cost.
j. The Bank has already taken steps for appointing an external consultant for providing assistance for
migrating to IND-AS. Any change suggested by the external consultant shall automatically enlarge the
scope of the work specified under this RFP and the duties of selected bidder shall deemed to be
discharged only when the Bidder complies with updating the suggestions issued on this matter.
Gireesh C P
Chief Financial Officer
Corporate Financial Management Department
The South Indian Bank Ltd, Thrissur.
Corporate Financial Management Department, The South Indian Bank Limited. Page 8
•Number of years in banking business88 Years
•Number of branches838
•Number of ATM’s1291
•Business as on 30.06.2016Rs.99,913 Crore
•Business Growth (Y – to – Y)9.62%
•Net Profit for the year ended 31.03.2016333.27 Crore
•Net Profit for the year ended 30.06.201695.06 Crore
•Net Interest Margin ( June 2016)2.74 %
•Capital Adequacy Ratio (Basel III - June 2016)11.68%
•Net Non-Performing Assets ( June 2016)2.89%
II. ABOUT THE SOUTH INDIAN BANK LIMITED
The South Indian Bank Limited (website- www.southindianbank.com) is one of the leading Scheduled
commercial Bank having more than 838 branches spread across 29 States/ Union Territories in India. The
Head (Registered) Office of the Bank is situated at Thrissur, Kerala State. There are Twenty Regional Offices
(ROs), geographically spread across the country, coming under the administrative control of the Head Office.
The South Indian Bank Limited offers various customer services such as Anywhere-Any Time Banking
supported with online ATMs, Internet Banking, International ATM-Cum-Debit Cards, Mobile Banking, online
payment, on line trading etc. The Bank has already adopted significant technological advancements and uses
them to leverage business operations such as NDS-PDO, RTGS, NEFT, Domestic ATM sharing, NPS, SWIFT,
Treasury, Forex, POS, etc.
The Bank is using ‘Finacle’ (from M/s. Infosys Technologies Ltd) as the Core Banking Solution (CBS). The Bank
presently uses Core Banking Software - Finacle 10. The Bank has setup a robust scalable state-of-the art Wide
Area Network connecting its various branches and offices with its Data Centre and Disaster Recovery Center.
These branches are connected to datacenter through dual redundant MPLS WAN connectivity.
The South Indian Bank Limited… At A Glance (As on 30.06.2016)
Corporate Financial Management Department, The South Indian Bank Limited. Page 9
III. BACK GROUND
A. Objective of RFP
The Bank has decided to float this RFP to achieve the following objective:
To appoint a competent party through an open/hybrid (or combination of both) tendering process for
laying down an appropriate software solution for the bank for undertaking the scope of work as
outlined in Point No:- IV In accordance with the Best Practices and Guidelines of RBI/Companies Act
2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations,
directions as applicable.
B. Responsibilities of Bidder:-
Successful bidder selected based on the evaluation criteria specified in this RFP should;
1) Set up, installation and testing of the required software within the Bank at its Data Center at Cochin.
The solution should be capable to extend to Disaster Recovery Site at Bangalore on a later date without
any technical issues.
2) On awarding the contract, the bidder should gain understanding of the functioning of the existing
system from core users of the Bank. The bidder shall prepare a Business requirement Document based
on the gap analysis and other requirements of the RFP. The bidder shall undertake to obtain Bank’s
approval of the Business requirement documentation (over and above Functional Requirements
Specifications and System requirement Specifications) and associated project plans before software
customization work commences. The document should provide the plan in detail based on the criticality
of the requirements. The bidder shall allow adequate time for review of the above documents by the
Bank.
3) Ensure that software solution being supplied should be capable to get integrated with Data Ware
housing solution (the Bank may go for later point of time). It needs to have standard interfacing
capabilities.
4) Identify Project Manager, Project Leaders and members of the development teams with relevant skills.
The bidder will intimate the Bank if there is any change in the project team. The bidder will ensure
proper back up of project leaders and manager and the plan should be intimated to the Bank. The
minimum experience of the project team personnel like Project Manager, Project Leader and
Programmers put on work preferably should be minimum 2 years. Systems study and all development
activities if any, will have to be undertaken at the Bank’s locations acceptable to the Bank.
5) Ensure that the solution offered should have clear licenses. In case free wares are to be used the same
has to be procured and provided to the bank. Also the vendor has to ensure that the freeware can be
used by the Bank for running the required solution.
6) Impart training on proposed solution to designated personnel of the Bank for handling the system.
7) Provide full-fledged solution at the end of the mutually agreed period post UAT signoff.
8) Ensure that the proposed solution is in compliance with RBI requirements and other relevant regulatory
guidelines. Any instances of non-compliances observed will need to be rectified well within timelines
stipulated by the Bank. Incorporate changes in the system arising on impact of amendment to
regulations/Bank’s policy at no additional cost and well within timelines stipulated by the regulator.
9) Assist the Bank in conducting User Acceptance tests by providing test plans, scenarios and resolving
gaps
Corporate Financial Management Department, The South Indian Bank Limited. Page 10
10) Provide all statutory, regulatory Management Information System (MIS), Adhoc MIS (including
development if needed) and Executive Information System (EIS) reports as required by the Bank in the
desired format as per regulatory and Bank’s requirements.
11) In case the product/ solution/ vendor/ OEM/SI are amalgamated/ dissolved the impact of such an event
should not have any adverse implication on the service level/ time line/cost that is proposed for
implementation of the solution. Such event would not dilute the responsibility of the successful bidder
for completing the implementation within mutually agreed time lines.
12) The bidder shall provide the details of hardware& supporting softwares including licenses (Both Live &
Test) including its indicative cost and its configuration in the format given in Annexure-12.
13) The bidder shall interface the proposed solution with other external systems in the Bank including Core
Banking, Polaris, HRMS, iRAC, iRecovery, iCDMS, BALM (if required), BPM, CRM etc. The term external
system also includes proposed systems such as LOS, EWIRM, ODS or other data capture systems,
workflow tools etc. which the Bank uses from time to time.
14) Bidder should implement & maintain the application software (Both Live & Test) in our Data Center and
to be able to extend to Disaster Recovery (DR) site on a later date without any issues. No separate
license cost, fees, AMC shall be applicable for the application software implemented at Test &UAT
systems. Similarly no separate license cost, fees, AMC shall be applicable for the application software
implemented at DR site.
15) Bidder should provide Modular wise user manual as well as Administrator’s manual including logic used,
analysis done, methodology etc. Post-implementation on-site support for 3 months from GO LIVE date
shall be provided without additional cost and further support till the end of agreed Warrantee/AMC
period shall be provided.
16) The successful bidder shall provide technical support for the software application systems supplied
under this contract, and will have overall responsibility of the performance, functionality and operation
of the systems under this contract. Any supporting software provided/installed/configured by the bidder
for smooth functioning of the parent software shall be maintained /fine-tuned/parameterized by the
bidder from time to time, so that the solution delivers optimal performance.
17) Security features should meet the standards and procedures as per Bank’s IT Security Policy and
procedures should be followed, in line with prevailing Industrial Standards.
18) The bidder to provide the Bank with the proper backup and recovery procedure, with necessary
documents so as to meet any exigencies.
19) The bidder should ensure that all verification processes in the software solutions should be governed by
maker checker controls. The Maker and Check shall be two different users in the system.
20) The bidder’s overall responsibility includes offering suitable framework, supporting software solution,
recommending the appropriate hardware, impart necessary training and supply the required
documentations/manuals.
21) Bank should be able to bring minimum customizations/new functionalities, validations in to the existing
programs for which suitable hooks may be provided in the solution.
22) The bidder shall be also responsible for the following:
Managing the activities of its personnel or sub-contracted personnel and will hold itself responsible for any misdemeanours.
Keep the Bank informed on the progress of the project as per the agreed reporting schedules.
Corporate Financial Management Department, The South Indian Bank Limited. Page 11
The bidder and the Bank together will prepare acceptance test plan, for which bidder will station its officers in the Bank at no additional cost.
Incorporate the review comments received from the Bank. Prepare contingency plans. Customize software as per the Bank’s requirements. Tight integration within the different modules of the software. All reports module to be optimized and fine-tuned. Inform the Bank about IT infrastructure required for implementation. Conduct weekly calls with the relevant teams from either side to evaluate and track the
implementation process and bring to necessary corrective measures so that timely GO LIVE is ensured.
Conduct high-level meeting with the steering committee once in a month to evaluate and track the implementation process and bring to necessary corrective measures so that timely GO LIVE is ensured.
23) Treat all data and information about the Bank obtained during in the execution period and thereafter, in strict confidence and shall not reveal such information to any other party without the prior written approval of the Bank. A non-disclosure agreement should be signed between Bank and bidder. The format of non-disclosure agreement form is given in Annexure-3.
IV. SCOPE OF WORK
A. Broad scope:
The broad scope of the project envisages:
1. Installation, customization, configuration and maintenance of the software required for an Integrated
Corporate Financial Management Solution (ICFMS) In accordance with the Best Practices and Guidelines
of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules,
regulations, directions as applicable. ICFMS which includes the following sub systems.
o Fixed Assets Procurement System (FAPS)
o Fixed Asset Management System (FAMS)
o Corporate Financial Management Solution (CFMS) – Consolidation of Financial Statement &
Analysis as per IFRS converged Indian accounting Standards (IND-AS)
2. Parameterization, historical data management, verifying data quality, migrating data, user acceptance
testing, documentation, knowledge transfer and support.
3. Interfacing with other external systems including Core Banking Software solution (Finacle 10), other
systems and interfaces if any.
4. Assistance in supply, installation and maintenance of related hardware & supporting softwares at
Primary and Disaster recovery data centers of the Bank if required.
5. Providing training to Bank’s designated personnel and also provide Modular wise user manual as well as
administrator’s manual, post-implementation on-site support for 3 months from GO LIVE date and
further offsite support as long as the solution is under warrantee/AMC.
6. The solution/s offered should be web based and support data transfer and consolidation from the
networked systems either online or batch/scheduled jobs.
7. All necessary license / ownership to be provided along with the right to use.
8. All statutory requirements including GST changes must be covered under warranty / AMC.
9. Yearly Onsite Facility Management to be provided (After 3 Months of Go Live Support).
Corporate Financial Management Department, The South Indian Bank Limited. Page 12
B. The detailed scope of assistance has been given below:
Gap identification & Resolution
i. The selected bidder will be responsible for conducting the gap analysis for identifying gaps in Bank’s
framework, policies, procedures, governance, and existing systems which needs to be bridged prior
to deployment of ICFMS architecture.
ii. Provide the Bank with the gap identification report along with the recommendations and estimated
time frames to implement the same.
iii. Provide various tools /utilities to bridge the gaps identified during GAP analysis phase without any
extra cost.
iv. Determine the customization requirements, in case a particular functionality requirement is not
supported by the existing systems of the bank;
v. Resolve gaps by customizing the proposed solution by way of modifications/ enhancements, as
necessary without any extra cost.
Design of solution
i. The selected bidder is required to design the Integrated Corporate Financial Management Solution
with the functionalities identified in the Functional Requirements and Technical Solution
Requirements for financial statement preparation, Fixed Assets Management, Other Modules and
Reporting as detailed in this RFP.
ii. Automated Interfaces required for the solution with other internal systems and external systems has
to be provided by the selected bidder to ensure satisfaction of the functional and technical
requirements. Bidder will be responsible for the procurement of any tool required to develop the
interface. Bidder will document the entire interface logic and process with change management
procedures in compliance with Bank’s policies and best international practices.
Implementation Location:
i. The hardware and the software products shall be installed, implemented and maintained at the Banks Data Center, Cochin.
ii. The operational team is located on Head Office, Thrissur. iii. The disaster recovery site will be at Bangalore.
Parameterization, Configuration and Customization of software
i. To assist in bridging the identified data gaps for compliance with RBI and other relevant guidelines.
ii. The Bidder shall be responsible for accuracy of the parameters set in the system according to
business needs of the Bank.
iii. The cost of all customizations, if required, are required to be included in the Commercial Bid and the
Bank will not make any additional costs for this throughout the term of the contract. Thus, this is a
fixed bid and all necessary customizations based on the functional requirements specified in the RFP
will need to be conducted by the Bidder.
iv. Bidder needs to give detailed plan for customization. All customization has to be completed within
the project timelines.
v. The Bidder should ensure that the quality assurance and development standards outlined in the
Corporate Financial Management Department, The South Indian Bank Limited. Page 13
development methodology of the Integrated Corporate Financial Management solution are adhered
to and required functionalities/reports related to same are generated and shared with the Bank
team on a regular basis.
vi. Enhancements provided by the Bidder would include changes in the software due to statutory and
Regulatory changes and those required due to changes in industry practices in India and/or abroad
or any other requirements of the Bank related to the above, which will need to be provided at no
extra cost to the Bank for the entire period of the contract. It will include, but not limited to, all the
functionalities mentioned in the Functional Requirements and at no additional costs.
vii. Vendor to ensure that they will provide the required support of the software during the entire
period of contract. In case of new versions released by the vendor the bank should have the freedom
to either move to the upgraded version or continue with the existing software with
necessary/required support within the period of contract. As long as the solution is under
warranty/AMC the new versions/releases of the software should be provided to the bank without
additional cost.
viii. Before completing this phase, the bidder shall ensure that Integrated Corporate Financial
Management solution/ architecture proposed to be implemented/laid down is capable of meeting all
functional and technical requirements specified in this RFP.
IS Security Perspective
i. System should have standard input, communication, processing and output validations and controls.
ii. Access controls at DB, OS, and Application levels should be ensured in compliance to the Information
Security Policy of the Bank.
iii. The system should be in compliance with the recommendation of Gopalakrishna Committee.
iv. Proposed solution should be able to enforce bank’s password policy.
v. Able to enforce bank’s given user id’s for both administrators and general users. Ideally the users
need to be identified by their employee number.
vi. System should be able to sync the employees roles and working office as per the information
maintained in the HR software of the bank. This synchronization should be done on a daily basis.
vii. Able to generate audit log for both administrator and user activities.
viii. The information /data flow from the system to outside should not be in plain text, it needs to be
either database to database connectivity or encrypted.
ix. Able to terminate active sessions after defined duration of inactivity.
x. Capability to authenticate users through centralized directory (LDAP)or Active Directory. Should
support single sign-on using the centralized directory (LDAP) or Active Directory.
xi. It should allow only secure protocols for communication like SSH and SFTP instead of telnet and FTP.
xii. It should have the facility to revoke or disable users as per bank’s requirement.
xiii. It should have full capability to support database to database replication and storage to storage
replication between DC and DR with Recovery Point Objective (RPO) of 30 minutes & RTO (Recovery
Time Objective) of 4 hours. The replication between DC and DR should be possible in both directions.
xiv. The client side should support bank’s existing antivirus solution (Kaspersky Endpoint Security).
xv. If required, bank may establish a database firewall which should not affect the performance of the
proposed solution.
Corporate Financial Management Department, The South Indian Bank Limited. Page 14
xvi. The application specific baseline documentation should be available.
xvii. Appropriate back up/archival of data/application as per back up policy/document retention policy of
the bank should be ensured – both for offsite and onsite backups.
xviii. The client should be able to coexist with the bank’s end point security solution.
xix. The scalability of application/operating system/database in terms of volume and user should be
ensured for the projections as proposed in the RFP.
xx. The obsolete/support withdrawn versions of operating system/database/application should be
replaced then and there as per the recommendations of bank based on internal/external IS audit.
xxi. Report on security breach incidents in the solution proposed and logs on critical errors should be
made available to the bank at the earliest.
xxii. All but the required ports, default services, installation pages for the proposed solution should be
disabled.
xxiii. The generic user id’s should not be supported or exist in the proposed solution.
xxiv. Wherever necessary required support to be provided to apply operating system/ database/
surrounding application patches, even if it leads to version upgrades.
xxv. The proposed solution should be in line with bank’s application baseline requirement.
xxvi. The maker checker concept should be followed across the proposed solution/STP.
xxvii. Activity logs should be available on the whole data irrespective of criticality.
xxviii. It should allow disabling the administrator accounts, if any.
xxix. The proposed solution should be able to support/ Integrate and provide the required application
level logs to Security Operation Center (SOC).
xxx. The Bidder and its personnel shall not carry any written material, layout, diagrams, USB, hard disk,
storage tapes or any other media out of The South Indian Bank Limited’ s premises without written
permission from The South Indian Bank Limited.
xxxi. The Bidder shall acknowledge that The South Indian Bank Limited’s business data and other
proprietary information or materials, whether developed by The South Indian Bank Limited or being
used by The South Indian Bank Limited pursuant to a license agreement with a third party (the
foregoing collectively referred to herein as “proprietary information”) are confidential and
proprietary to The South Indian Bank Limited; and the Bidder shall agrees to use reasonable care to
safeguard the proprietary information and to prevent the unauthorized use or disclosure thereof.
The caution exercised by the bidder shall not be less than that used by it to protect its own
proprietary information. The Bidder recognizes that the goodwill of The South Indian Bank Limited
depends, among other things, upon Bidder keeping such proprietary information confidential and
that unauthorized disclosure of the same by Bidder could damage The South Indian Bank Limited.
Bidder shall use such information only for the purpose of rendering the Service(s) to The South
Indian Bank Limited.
xxxii. The Bidder’s personnel shall follow The South Indian Bank Limited’s Information System security
policy and instructions in this behalf.
xxxiii. The Bidder shall, upon termination of the Contract/Agreement for any reason, or upon demand by
The South Indian Bank Limited, whichever is earliest, return any and all information provided to
Bidder by The South Indian Bank Limited, including any copies or reproductions, both hardcopy and
electronic.
Corporate Financial Management Department, The South Indian Bank Limited. Page 15
Testing
i. The Bidder will be responsible for conducting system integration testing to verify that all system
elements have been properly integrated and that the system performs all its functions.
ii. The Bank will conduct a “User Acceptance Test” (“UAT”) under guidance, review and Supervision of
the bidder to ensure that all the functionality required by the Bank as mentioned in this RFP is
available and is functioning accurately as per the expectations of the Bank. Consequent to UAT, if
some of the functionalities, specified in this RFP are not present in tune with the Bank’s
expectations, the bidder shall make appropriate changes for functioning the ICFMS.
iii. Bidder will be responsible for setting and maintaining the test environment during the entire period
of project implementation. The bidder will ensure that test environment’s configuration and
parameterization for conducting the UAT is in line with bank’s financial management framework and
as per the requirements in this RFP. The bidder should ensure that the test environment has the
same configuration and functionalities as that of the live environment.
iv. The Bidder will provide the scenarios for UAT and assist in preparing test cases including the test
data to support all the Business scenarios. The Bidder should dedicate resources to work with the
Bank’s project team for this purpose.
v. The Bidder will assist the Bank in analysing / comparing the results of testing.
vi. Bidder shall provide adequate resources for trouble-shooting during the entire UAT process of the
Bank.
vii. The Bidder will be responsible for maintaining appropriate program change control and version
control of the system as well as documentation of UAT and change of configuration and
parameterization after making changes in the system.
viii. Bidder shall be responsible for creating the required interfaces with the Core Banking and other
systems in the bank as per the requirements of the solution. The interfaces shall be with web
services, database connectivity, URLs, XML, etc for both online/real-time and batch mode
integrations. Suitable error logs and reconciliation systems need to be put in place wherever
integrations are being built so that errors or omissions can be avoided. Suitable checks for the same
may also be incorporated.
ix. All errors, bugs enhancements/ modifications required during and after testing will be resolved
within the overall timelines for implementation
x. The Bidder will be responsible for using appropriate tools for logging, managing, resolving and
tracking issues and its progress, arising out of testing and ensuring that all issues are addressed in a
timely manner to the satisfaction of the Bank and as per the requirements mentioned in this RFP.
Training
i. Training must be provided in all functional areas and should be of sufficient duration – to the User’s
satisfaction.
ii. The Bidder shall be responsible for training the identified employees of the Bank in the areas of
system administration, implementation, use / operations, management, database management,
error handling /troubleshooting, etc. of the solution.
iii. Bidder will also be responsible to develop training and reference materials for all the functionality of
the software. Training / reference materials should be designed separately for operational staff /
Corporate Financial Management Department, The South Indian Bank Limited. Page 16
user, IT department and senior management. Training materials should comprehensively cover all
the functionality of the proposed Solution and be written in a user friendly manner with use of
graphs, processes flows, screen-shots of the actual system functionality etc.
iv. The training should at least cover the following areas:
• Functionality available in the solution including logic and methodology of the same;
• Customization / Parameterization;
• Techniques for Slicing and dicing of data, information, and output
• Auditing techniques including generation of audit trail reports;
• Advanced trouble shooting techniques if any;
• Techniques for generation, view and reporting of intermittent results;
• Deployment of various processes, reporting and identification procedures, Application controls,
analysis procedures provided as part of the solution;
• Techniques of Customization, development and configuration of required reports including ad-
hoc reports from the solution provided;
• Development and deployment of new functionalities using the proposed solution;
• System & Application Administration such as creation/modification and deletion of user, user
groups, assigning rights, System Information Security Settings etc.
• Understanding of the data structures so that bank can generate customized reports and pull out
required data as per banks requirements.
Documentation
i. Utilities and general software reference manuals.
ii. Documentation on Design Logic and Program Development.
iii. Operator Reference manuals for each operator task.
iv. Error messages manuals.
v. Documentation on troubleshooting.
vi. File / table structures, Indexes and Relations
vii. On line tutorials and help documentation.
Implementation
i. At present, the Bank has various solutions running on both Windows, Linuxand RISC platforms with
Oracle and SQL Server databases. However, bank prefers JAVA, JSP solutions running on Linux
platform with Oracle database.
ii. Generation of required reports (to be specified under functional requirements of RFP)
iii. Setting up of User Acceptance Test Environment and Live Environment
iv. By means of diagrammatic / pictorial representations, the Bidder should provide complete details of
the hardware, software and network architecture of the proposed solution (module and sub‐module
wise), including flow / source / method of data capture and transfer, validation and updation. In this
regard the bidder should also provide logical architecture and high level diagram of
hardware/software/network architecture.
v. The Bidder should recommend the operating system, hardware, database, data replication
requirements along with data replication solution. The details should be provided for production,
Test and UAT servers.
vi. Firewall & Network Security infrastructure will be provided by the Bank. The Bidder has to ensure
Corporate Financial Management Department, The South Indian Bank Limited. Page 17
that vulnerabilities at application level in case of any breach shall be handled by the offered
application software.
vii. The details of storage/disk space/Memory/Processor required, to be intimated to the bank by the
bidder in accordance with the incremental growth of the Bank on a minimum, over the next 7 years.
The Bidder may propose an appropriate storage to meet the requirements as found suitable.
viii. The Bidder should specify the hardware requirement for the TEST/UAT, Production and DR systems
taking into consideration the efficiency level, response time, data processing requirement, number
of users, and all other parameters to ensure that the efficiency of software system is not affected
because of hardware. The infrastructure requirement should not be oversized or undersized as it has
a direct connect with the total cost of the solution, and the TCO shall be a price point in the selection
process.
ix. The Bidder will certify that the hardware specified is adequate for meeting performance standards
set by the Bank.
x. The Bidder must ensure no software, for which ‘End of Life’ or ‘End of Support’ has been declared, is
offered as part of this bid.
xi. The Bidder should also recommend the hardware specs for the virtualized environment.
xii. The bidder will be required to implement the solution at Disaster Recovery (DR) site of the Bank as
required by the Bank. No separate License fee would be payable for the DR implementation except
installation cost on a later date.
xiii. Sizing of equipment, hardware etc. as required, depending on the functionalities required by the
Bank as mentioned in the RFP, should be provided by the Bidder for processing of existing portfolio
of the Bank with increase in volumes at approximately 25% p.a. and addition of new
products/instruments and data maintenance for a minimum period of 7 years as per RBI guidelines.
xiv. As part of implementation all data migration (as and when required) from the existing systems to the
system proposed will be done by the Bidder. The Bidder shall demonstrate to the satisfaction of the
Bank regarding accuracy and comprehensiveness of the data migrated to the proposed system.
Facilities Management Services (FMS) and Helpdesk
i. The Bidder is required to provide Helpdesk services entire duration of the project including warranty
and AMC periods.
Helpdesk: Helpdesk refers to availability of resources to record and respond to events and Incidents
related to the application and related software’s implemented as per the scope of this RFP. Helpdesk
services should be provided throughout the project duration as defined in this RFP (Till AMC Period).
At any point of time during the day a minimum of two resources shall be available.
ii. Facilities Management: Facilities Management would include support for all application software,
provided by the Bidder. In the case of FM’s bank will decide only after reviewing the proposal in
detail.
Corporate Financial Management Department, The South Indian Bank Limited. Page 18
V. FUNCTIONALREQUIREMENTS–FIXED ASSET PROCUREMENT SYSTEM (FAPS)
No Requirement
A-Available C-Customizable before Go Live NA-Not Available
1. Masters: The following Master’s to be available in the proposes Fixed Asset Procurement Solution
1.1
Vendor Master: Vendor Code, Vendor Name, Vendor Address, Phone No., E-Mail ID, TIN, CST, STC, PAN, CGST, SGST, A/c No., A/c Name, IFSC, Bank Name, Branch Name, Attached Branch/Office, If Multiple Address: System should capture all of them. Vendor Code to be generated automatically (Alpha Numeric)
1.2 Fixed Asset Type Master: Fixed Asset Type, Fixed Asset Type Description
1.3 Fixed Asset Sub Type Master: Fixed Asset Type, Fixed Asset Sub-Type Name, Sub-Type Description, Other Specifications. Item Code to be Generated Existing Sub Type Masters to be provided.
1.4 Budget Master: Budgetary Item/Non-Budgetary Item, Budget Fin. Year, Budget Group, Budget Code, Description, Unit Cost, No. of Units, Budgeted Amount. All Budget to be financial year specific. IT, Capital etc.
1.5 Branch and User Master: Existing Masters in FAMS may be used. Users may be linked with Active Directory and their access privilege needs to linked using the credentials in HR Database
1.6 Quotation Master: Option to Add Empanelled Vendor Quotations for different Fixed Asset Sub Types with Period/Validity
1.7 All Master Screens : Entry and Forward by Branch/Office
1.8 All Master Screens : Verification by Central Cell [ If any issue Central Cell user can revert to Entry ]
1.9 Central Cell shall be empowered to blacklist/whitelist any masters
1.10
Entry: Add/Inquire/Suspend/Modify [Drop Down List] Add - Save, Inquire – Cancel, Suspend- Save Forward: Modify – Forward , Rejected for Modification, Reject Verification: Modify – Submit, Rejected for Modification, Reject
2 PURCHASES:
Requirement Entry (Branch), (RO/Office) : The following fields to be available in the system for requirement addition: Date, Fixed Asset Type (List should populate the type of fixed assets in fixed asset type master), Item Type, No. of units, Requirement proof: if any (image upload if any documentary proof available), Description (Requirement Description & Justification), Buyback item details (Entry/Pick from the List), Fixed Asset Type (List should populate the type of fixed assets in fixed asset type master), Item Code (List should populate item code from item master as per selected fixed asset type), Item Name( Automatic population of item description as per selected item code from Item Master), Specifications (List should be populated as per selected item code from Item Master), FAMS ID (Buyback Fixed Asset Details are to be populated automatically.), No. of units for Buyback, Purchase Value, Purchase Date (Both calendar box for selection), WDV, WDV Date. Requirement Sl. No. will be generated.
2.2 Requirement Forward by Branch/Office: Request Serial Number to be available for the forwarding Branch/Office. FORWARD/REJECT/REVERT to Entry Optionis to be Available.
Corporate Financial Management Department, The South Indian Bank Limited. Page 19
2.3
Recommendation Forward by RO [In Case of Branches & RO]: FORWARD/REJECT/REVERT to Entry Options to be Available. Provision to reduce the quantity may be provided, for other changes if any to be revert back to entry
2.4
Request Entry – By the Purchase Officer: As per Fixed Asset Type & Item Type automatic population of balance no. of approved items from Budget Master. If sufficient no. is available then only new request addition to be enabled. Otherwise, Dept. has to take special sanction for the additional items separately and upload in Budget Master as Non-budgetary Item. Option for new request with/ without buyback option. Sufficient No. of Quotation details are to be entered and uploaded. After entering Quotation Id to be allotted.
2.5 Request Forward By the Purchase Manager: After considering all factors, One Quotation ID to be forwarded for sanction with Proper Recommendations.
2.6
Request Sanction: All Above Entered and Forwarded Details to be viewed including all quotations. Full details of the recommended quotation to be shown separately. Sanctioning Authority Can Approve / Reject / Revert to Entry Level with Remarks. SANCTION: At the time of Sanctioning, the details of sanction to be displayed as a pop-up and to be acknowledged by the sanctioning authority. Sanction Order to be generated with all the above details.
2.7
Purchase Order Entry: PO should be generated only against the sanction. Option to view the list of requests in sanctioned status, pending for PO generation. PO to be generated by using the standard templates. All details already provided through the quotation / vendor master or entered at the time of sanction to be populated. All the mandatory and statutory details are to be provided in the PO. Option to attach annexures to the PO. The PO Format to be forwarded to the Purchase Manager/Sanctioning authority while saving.
2.8
Purchase Order Generation: Purchase Manager/ Sanctioning Authority can approve the PO. If PO is not up to the mark, the same to be reverted to Entry. PO to be generated as per specific format. Option to digitally sign the PO. Print/E-Mail Option to be available for sending. PO shall have a clause to hand over one copy of invoice along with Delivery Note to the office of delivery and submit the original invoice along with a copy of Delivery Note signed by branch/office to payment cell for releasing payment as per terms within 15 days of delivery.
2.9 Purchase Order Amendment/Cancellation if any: PO Amendment/Cancellation if any to be invoked by the purchase officer and the same to be forwarded by the purchase manager and approved by the sanctioning authority.
3 INVOICE:
3.1
Proforma Invoice/ Invoice Upload/ Goods Receipt/ Acceptance (For Requirement Entered Office/ Purchase Approved Office):Option to update/upload the following. Invoice, GRN, LR, Installation Certificate, Site Visit Report etc. At the time of receipt of goods/installation, branch/office shall have the option to record the fact and recommend for payment through the system itself with invoice number, Delivery Challanetc,. If Invoice is Original, then Acceptance certificate to be uploaded and verified by the Br. Head/ concerned officer of Dept. If pro forma invoice selected, Acceptance Certificate is not required at that time for advance amount release but to
Corporate Financial Management Department, The South Indian Bank Limited. Page 20
be verified by the PO issued office. If Actual Invoice is selected, Acceptance Certificate must be uploaded for Payment. Ie, Invoice Forward will be enabled if and only if the selection will be pro forma invoice or actual invoice with Acceptance Certificate.
3.2 Invoice Forward (For Requirement Entered Office/ Purchase Approved Office): Option to Forward/Reject/Revert to Entry
3.3 Invoice/ Proforma Invoice Verify: (PO Generated Office): Option to Forward/Reject/Revert to Entry
4 PAYMENTS:
4.1
Payment Release Request Entry: Uploaded images of invoice and Acceptance Certificate will be populated Sanction to release payment to be uploaded (If any). Recommendation to release payment to be entered. Advance Payment Amount: Amount already paid to be populated automatically Details of Payment release to be entered Amount to be released: Numeric Text Box If phased payment the milestone to be tagged.
4.2
Payment Release Request Forward by Branch/Dept. Uploaded images of invoice, acceptance certificate and payment release sanction (If any) to be displayed, Release Amount Requested: Automatic population from Payment Release Request screen. Option to FORWARD/ REVERT.
4.3
Payment Release Request Sanction Entry by Payment Cell Uploaded images of invoice, acceptance certificate and payment release sanction (If any) to be displayed. Amount to be released with Taxes if any to be checked. Any statutory deduction if any to be checked. CENVAT to be handled. Penalty Amount if any to be captured. Option for SANCTION FORWARD/ REVERT.
4.4
Payment Release Sanction Verify by Payment Cell Uploaded images of invoice, acceptance certificate and payment release sanction (If any) to be displayed. Option to release for payment by Payment Cell Sanction Verification Office after creating FAMS Entry of the corresponding asset. FAMS Entry if any to be done automatically with vendor tagging.
4.5
RELEASE OF PAYMENT: If everything in order, the amount to be released along with the cenvat debit if any to the vendor after deducting TDS/WCT/other deductions if any. Option for making payment directly/ transfer the amount through NEFT. Option to update the UTR for future reference. E-Mail to be sent to vendor mentioning relevant details as an intimation to release of payment.
5 System should be able to add all outstanding sanctions, but not completed/ in various phases of procurement are to be added to the system just before go live with proper declarations.
6
REPORTS: 1. Budget Allocation/ Status Report 2. Budget vs Actual 3. Consolidated Sanction Report. 4. Purchase Order Status Report. 5. Fixed Asset Acceptance Certification Report. 6. Vendor wise consolidation and Status Report. 7. Request/Approval status Report Consolidated-Department Wise 8. Payment Pending Status Report. 9. Current Status Report.
Corporate Financial Management Department, The South Indian Bank Limited. Page 21
VI. FUNCTIONAL REQUIREMENTS FOR FIXED ASSET MANAGEMENT SYSTEM(FAMS):
1. The following features are to be available in the Fixed Asset Management System. All the
data available in the existing system to be migrated into the new system.
No Requirement
A-Available C-Customizable before Go Live NA-Not Available
1 The system should capable to Add/Modify/View the Fixed Assets with specific controls
2 The system should supports Transfer Out/In of the ownership of assets to various branches/offices and track to be maintained.
3 The system supports the calculation of Depreciation of Assets as per the statutory and regulatory requirements
4 The system should supports Removal and Disposals of Fixed Assets as per the approvals
5 System should be able to connect to CBS online for generating accounting entries.
6 System should supports Insurance Module
7 System should capture Warranty & AMC
8 Admin Module to be comprehensive
9 System supports Dual User Concept for additions/modifications etc
10 System should provide various reports
11 System should provide the separate module for Software
12 Amortization of software should be provided based on licence period procured and in case of perpetual license, maximum useful life provided by the user should be incorporated.
13 Yearend system generated amortization/depreciation entries to be verified by the super user on a consolidated basis of asset category.
14 Details of nominal value items to be shown separately in the report.
15 System should provide separate module for Plant & Machinery
16 System should provide separate module for Land &Building
17 In the case of Land and Building, revaluation model to be available in the system and should be user defined.
18 System should allow super user to modify the details of Land and Building without touching the key fields.
19 Additional construction to the existing buildings to be accounted separately under the existing assets and the computation of depreciation to the additional construction to be as defined by the user and it should be grouped under the existing asset group.
20 In case of major repairs/renovations which extends the remaining useful life of the existing assets, provision for extending the useful life to be provided.
21 In case of revaluation, provision for adding more than one valuation details to be provided for complying the statutory guidelines.
22 System should provide the Asset-ID’s as per banks requirements
23 System should maintain the history of the asset and keep detailed transaction history for at least 10 years or more.
24 System should be able to split the existing asset without modifying the previous values as per the requirement (Number & Percentage)
25 System should be able to calculate depreciation on an annually/quarterly/monthly basis
Corporate Financial Management Department, The South Indian Bank Limited. Page 22
as per the requirement.
26 Leased Asset Recording should be available in the system.
27 System should provide asset details as per Location Wise (Branch/RO), Employee Wise, Cost Centre Wise
28 System should provide all depreciation methods including IT Depreciation, WDV and SLM Method
29 System should provide an option to verify the Disposal/Write-Off by the corresponding Regional Office/P& M Dept.
30 System should mark the Warranty/AMC fields as mandatory and an option to waive to the same to super users
31 System should provide the E-Mail intimation to corresponding teams, in the case of expiry of warranty/AMC
32 System should provide the audit logs in case of Entry, Verification and Modification.
33 System should provide the Audit log for Security Operating Centre (SOC).
34 System should compute the Depreciation Calculation of MOC Items as per the requirement
35 System should provide a Facility to Finalize the Fixed Assets during Year End without closing FAMS.
36 System should provide a physical verification module for auditors.
37 System should provide Fixed Asset Schedule for balance sheet purpose.
38 System should able to capture the Fixed Asset Closing Balance from CBS on a daily basis and generate difference report if any.
39 Reports:- System should be capable to provide reports to branch, RO,HO as per the parameters defined by user. Also provide reports based on type, sub type, cost center etc with age and salvage value.
40 System should provide the detailed tally summary with the newly added/deleted items during the quarter in comparison with the opening details of fixed assets.
41 OTHER POINTS TO BE NOTED:
I
System should be able to Transfer-Out/ Transfer-In the fixed Assets from one office to
another.
System should create corresponding Financial Transactions in CBS. Proper checking for
double credit and proper system to handle failed/ unsuccessful transactions if any to be
enabled.
System should have Maker Checker option in the case of Transfer-Out/ Transfer-In.
ii
System should be able to add incremental value to existing asset and depreciation to be
calculated according to the remaining useful life. If the incremental addition does not
extend the existing useful life and if the addition extends the useful life, depreciation to
be calculated as per the revised useful life.
iii
The depreciation calculation should be any day/monthly/quarterly/annually as per the
requirement. System should be able to handle different depreciation calculation
methods. IT Depreciation and WDV/SLM Method should be mandatory.The WDV for
Corporate Financial Management Department, The South Indian Bank Limited. Page 23
the previous Fys to be available in the system. The depreciation calculation for MOC
Items to be calculated as per the requirement.
System shall be capable of calculating and maintaining database/ report of calculation
of depreciation under SLM/WDV concurrently for all type of FA with various rate of
depreciation used primarily under accounting and income tax purposes.
iv
The system should be able to Dispose / Written – Off individual assets.
The system should be able to block Dispose/Written off of assets within an year from
the branches /offices and to be available to P & M Dept. Only. System should be able
to enter Pre- Dated Entry up-to the First Day of the FY and the option to disable the
feature to P&M Dept.
System should be capable of creating Finacle (Online) transactions at the time of
Dispose/Written-Off an item.
System should provide Disposal/Written-Off report for the given period.
System should capture the mandatory Disposal Approval Sanction Reference Number.
System shall be capable of accounting for asset reduction and calculation of
depreciation for original value and revalue assets concurrently as required.
In case of any wrong dispose/written off – an option to restore the same to be provided
to the super user.
System should be capable to include the Buyback option with FAID at the time of new
procurement entry.
Depreciation calculation to be run automatically at the time of disposal/ Written-Off/
Buy Back on a day basis.
In the case of transfer-In/Out, depreciation to be allocated to branches /offices based
on the usage days. Transit days to be accommodated at originating branch/office.
System should be able to provide the depreciation calculation by way of report for a
future date on a trial run basis.
42 The bidder will be required to implement the solution at Disaster Recovery (DR) site of the Bank as required by the Bank. No separate License fee would be payable for the DR implementation except installation cost on a later date.
43 All statutory and regulatory changes will be incorporated in the software by the vendor during warranty/AMC period without any additional cost.
Corporate Financial Management Department, The South Indian Bank Limited. Page 24
VII. FUNCTIONAL REQUIREMENTS: CORPORATE FINANCIAL MANAGEMENT SOLUTION (CFMS):
The proposed solution should be capable to provide all the statutory reporting requirements in accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable.
No CFMS Requirement
A-Available C-Customizable before Go Live NA-Not Available
1
Profit and Loss Account and Balance Sheet, Cash Flow, Segment Reporting along with Schedules, Balance Sheet Ratios & Analysis module In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable
2 System should be able to extend the solution to meet IFRS Converged IND-AS Requirements as per the guidelines.
3 System should be able to generate the financials in the required formats as per the guidelines/requirements.
4 System should be able to extract P&L, Balance Sheet from the date directly flown from core banking.
5
A consolidated note on accounts (Schedule 18 of Balance Sheet) has to be published on a yearly basis with detailed informations about the results and business. In order to consolidate the same system should provide an interface to collect data for notes on accounts as per RBI master circulars on disclosures and other disclosures given by the bank.
6 System should provide various checks for reserve reconciliation to ensure that various types of reserves flowing into the consolidated Balance Sheet are accurate.
7
ESOS Data Computation and Disclosures are to be provided by the system. Bank is providing ESOS to it’s employees in different tranches. The expenses incurred in connection with the ESOS issue are amortized as per the accounting policy adopted by the bank. At the time of exercise, lapse and during the tenure of amortization of ESOS expenditure entries has to be seamlessly passed in the financials. During the year end, disclosures relating to ESOS also to be provided.
8 EPS including diluted EPS computation to be provided by the system.
9 System should supports Related party disclosure statements.
10 System should be capable for providing product wise income / expenditure based on the data from CBS or any other systems used by the bank.
11 System should be capable for computing the borrowing cost based on the data from CBS or any other systems used by the bank.
12 System should be capable for computing the net worth of the bank as per norms and based on the data from CBS or any other systems used by the bank.
13 Adjustment of proposed dividend to be handled by the system.
14 Adjustment of difference in accounting policies like depreciation, investment etc. to be handled by the system.
15 System should have detailed audit trails of all end user activities.
16 System should provide DICGC premium Computation Module. In terms of regulation 19(3) of the deposit insurance and credit guarantee corporation, general regulation1961, the half year deposit insurance premium has to be remitted in advance before the end of the
Corporate Financial Management Department, The South Indian Bank Limited. Page 25
second month immediately after the commencement of the relative half year and deposit insurance return (DI – return) to be submitted to DICGC as per the regulation. The premium has to be computed as per the norms prescribed by DICGC.
17 Investor presentation has to be published on every quarter with detailed informations about the results and business. System should provide an interface to collect data pertaining to investors from various departments with different formats and consolidate the same.
18 Budgeting Module to be available in the system. Detailed budgeting module for projecting the P&L and Balance sheet of the bank for a minimum period of 5 years. The main areas are deposit, advances, investments, borrowings, fixed assets, capital, interest income and expenditure, employee and other operating expenditure, other income, provisions etc.
19 RBI Return Module to be available in the system. As per the statutory guideline issued by RBI bank has to submit various returns to RBI in different intervals. The module should cover the following major returns. 1. ALE – Asset Liability Exposure 2.Report on Operating results 3.FSI – Financial Statement Information 4.Balance Sheet Analysis 5.Form-X 6.Form-A 7.SLR Statement 8.CRR Statement 9.Form-VIII 10. BSR-I, II, IV, VI, VII on Quarterly/Yearly.
20 System should have in-built maker checker facility.
21 The system should be capable to interface with CBS for updating the depreciation and Fixed Asset movements.
22 The System should have the ability to take data from various other systems available with the bank like Polaris, HRMS, Information Bank etc.
23 System should be able to integrate with Mail Server.
24 If there are any entries which are to be posted on every quarter without any adjustments, the solution should have the functionality to automatically create the entries without any manual intervention. Also where the consolidation under different reporting dimensions (Like for RBI reporting) need similar entries the same should be replicated in different dimensions.
25 System should maintain and provide segregate report between uploaded data from CBS and adjustment done for finalization.
26 The system should be able to generate reports as per the Automated Data Flow (ADF)/ RBI requirements.
27 System should provide Branch Auditors Module. The Master Data of auditors to be maintained from the applications received online. The auditor module includes appointment, invoice uploading, fee computation and payment. Option to capture the auditor’s details from other systems.
28 System should provide statutory auditor Module
29 System should be capable of handling the major functionalities as required for the Consolidation of Financial Statements. Bidder may however indicate all functionalities /capabilities available in the solution proposed.
30 The system should be scalable to support additional users and products.
31 The system should provide built-in features for providing role based access to users of the Bank as per the roles.
32 The proposed solution should have the capability for migrating the existing historical Data relating to the financial statements (Balance sheets & Profit & Loss Accounts) which are already available with the Bank.
Corporate Financial Management Department, The South Indian Bank Limited. Page 26
VIII. OTHER TECHNICAL REQUIREMENTS
Sl No Technical Requirements
1 User Interface
1.1 The system should provide a consistent and easy to use graphical user interface so the users can work and navigate the screens efficiently
1.2 Report Creation utility should be provided for the user to generate custom reports
1.3 Custom Reports created by the users, should be attachable to the main application after approved by administrators
1.4 The system should provide user-friendly design, short-cuts, smart tags and other productivity features
1.5 The system should support configurable graphical display of historical, current and forecast figures and analysis
1.6 The system should validate the data inputs that are captured from the existing applications of the bank
1.7 The system should validate the data inputs that are subject to re-entry or manual intervention
1.8 System should provide users with the option to print/re-print, i.e. print to files of various formats, print to printer etc.
System should have facility to print reports in text format using dot matrix printers
1.9 The functionalities should be menu driven and administrators should be able to configure the menus as per access roles. The menu structure of the system should be standard
1.10 The system should provide online help facility which is context sensitive at field, screen etc.
1.11
The system should have a flat file import/upload and export/download functionality to import and export transaction data and/or static data in any of the following formats but not limited to:-
· Microsoft Excel Format (.XLS)
· ASCII Text file (.TXT)
· Microsoft Word (.DOC)
· Web Page(.HTML)
· Comma separated values (.CSV)
· Adobe Reader (.PDF)
· Extended Mark-up Language(.XML)
1.12 The system should provide the facility to upload/download data to/from peripheral systems. All uploads/downloads to the system need to be with Maker Checker facility and configurable be the bank
1.13
The system should perform queries against database irrespective of the technology/solution to be implemented. It should store and retrieve data from existing systems and databases and should provide an application programming interface to access outside programs
1.14
System should have the provision to Edit Check • perform logical edit checks on all input fields • provide intelligible edit error messaging based on pre-defined parameters to assist correction and re-entry of data • reject entries that cause edit errors • provide ability to over-ride edited errors
Corporate Financial Management Department, The South Indian Bank Limited. Page 27
1.15 The system should allow multiple users to access the system simultaneously
1.16 The users should have single point of access, to access all functionality available to their user account through a single entry point.
1.17 The system should interface with accounting modules/systems in place at the bank
1.18 The system should incorporate customizable templates and Built-in data entry form for the cases which are not captured through any other business application
1.19 System should provide facility to reconcile the data imported/exported from/to other systems. In case of failures the same needs to be notified to the admins and corrective actions needs to be taken. Proper checks for the same should be provided
1.20 System should be capable to integrate with the core banking and other system of the bank in real time using web services, XML, Database Connectivity, URLs, etc. all these integrations shall be straight through without manual interventions
2 System Architecture
2.1 The solution should be in web based technology in a three tier architecture
2.2 The system should provide for capture and utilization of static/dynamic data associated with counterparties, products, accounts, etc from the existing applications in the Bank such as Core Banking Software, Polaris, HRMS, etc.
2.3 System should be able to extract data from the data base and provide to other systems in the prescribed format. Similarly system should be able to load data from other source systems.
2.4 The system architecture should be modular; separate modules of the system should run independently
2.5 Bidder to provide all updates/modifications on account of regulatory requirements of IFRS without any additional costs during the implementation and AMC period.
2.6 The solution should be flexible and expandable to accommodate future up gradation/ modifications.
2.7 System outage time due to events such as application down etc. should not exceed the minimum tolerable downtime defined by the bank for the application. The system should design in such a way that the downtime is minimum.
2.8 Overnight reports generated by end-of-day processing should be automatically generated and ready at a time agreed in the system.
2.9 System should have functionalities to send the reports or alerts generated to the users via email and SMS
3 Data Archiving Back up & Disaster Recovery
3.1 System should support archiving of data, to prevent long term speed concerns.
3.2 The system should allow have a day end back up process
3.3 Back up should be possible in external media (CD, tapes, DVD) for off‐site storage as per the policy of the bank
3.4 Data Replication facility to be available without any downtime.
3.5 System should support data retrieval – from the specified archives. The archival and retrieval programs should facilitate easier analysis of old data.
3.6 The system should generate error logs if the calculation fails during time of data processing
3.7 The error logs should be descriptive enough to allow traceability of the data/ function error to the most granular level
3.8 The solution should have suitable Business Continuity Plan and structure to achieve “solution availability”
3.9 The solution should support disaster recovery procedures to 'cutover' from a primary
Corporate Financial Management Department, The South Indian Bank Limited. Page 28
site to a secondary site
3.10 The solution should supports resumption of services from primary disaster recovery site within the time limits stipulated by the bank from time to time
4 Security management & Audit Requirements
4.1 Access to the system should be based on the roles/access privileges assigned to the users.
The system should provide for user roles/profiles to be controlled by administrators with maker checker concept.
4.2 System access should be permitted only through Active Directory (LDAP) authentication
4.3 Addition of new software features should be allowed only through a properly revised upgrade and data migration method. Proper Change Management System should be followed.
4.4
The system should have the ability to provide or restrict access privileges based upon hierarchy and multiple criteria eg. User access on weekends and holidays, hours through which the system would be accessible etc. During holidays, system can access only with additional authentication by another officer.
4.5 The system should allow for setting of each user profile from front end screens. User privileges to be defined on need to know basis.
4.6 Automatic user disabling after a certain number of successive erroneous tries prescribed by bank. Automatic user time-out on inactivity for a predefined time duration.
4.7 System should provide for creation, deletion and modification of users, upgrades of users and data access rights
4.8 User id and login should determine level of access to data e.g. read/view data, print data, write/modify data, delete data etc.
4.9 System should allow data access to users only through specific modules according to their job requirements.
4.10 The system should maintain the audit trail with details like user id, Date-time etc. There should also be audit trail that includes details of databases accessed and modified by the users.
4.11 The audit trail should be at the granular level, and track the user across each activity. All database changes needs to be tagged with the user id and this needs to be recoded for audit trails
4.12 The system should have the ability to store and track all system events, including corrections and cancellations by multiple criteria such as user details, timestamp etc. Changes made should be able to be rolled back to a previous state.
5 Reporting & Others
5.1
The system should provide all necessary regulatory reports pertaining to Banks as required by the Reserve Bank of India and/or as requested by the Bank and/or any statutory regulator.
5.2 System should provide various other reports in the formats to be provided by the Bank. Important MIS reports should have the facility for drill-down.
5.3 The reporting functionality should cover all the areas of financial management and different types of reports should be structured.
5.4 Reports shall with indian numbering format, tens, hundreds, thousands, 10 thousands, lakhs, 10 lakhs, crores etc
Corporate Financial Management Department, The South Indian Bank Limited. Page 29
5.5 The date fields in the reports and at all data points shall be in Indian format i.e. 15-08-1947 for 15th August Nineteen Forty seven
5.6
The calculation formulae, data flows and processes associated with the Financial management solution system should be transparent and easily accessible. In particular, it is necessary that auditors and supervisory authorities are in a position to have easy access, whenever they judge if necessary and under appropriate procedures to the system’s specifications and parameters
5.7 The system should allow users to present outputs from reports in the form of graphs, charts and other graphic representation in a user friendly set up
5.8 The system should have capability to report against multiple dimensions simultaneously. The system should provide Dash boarding capabilities with specific access rules defined for each user.
5.9
The reporting interface should be capable of interactive reporting with end user having the option to create report across multiple dimensions in real time. The system should be capable of generating alerts and trigger workflows based on business events and notify stakeholders via their preferred medium and channel.
5.10 Exception reports should be sent to pre-defined users either through auto-mailers via the email client or via pop ups within the system.
5.11
The system should be flexible in allowing users to specify the exact layout of the required report including selection of data fields, location of data fields, header, footer, page numbering, title etc. No additional technical effort should be required to develop reports by the end user.
5.12 The system should allow users to print reports directly from the system
5.13 The system should allow users to save reports to a disc in a non-editable as well as an editable format
5.14
The system should generate and export reports in various types of files like:
· Excel Mode · HTML Table
· CSV format · Text Mode
· PDF format · Word File
· XML/XBRL format
5.15 The system should allow for generation of pre-defined end-of-day, End-of week and end-of month reports and ad-hoc reports when required.
5.16
Reports generated in periodical wise or as defined by the Bank:
· Daily/Weekly/ Fortnightly · Monthly/ Quarterly/ Half-yearly/ Annual
5.17 The system should allow for archiving of external reports in the following formats
· Adobe PDF/ Microsoft Excel/ Microsoft Word/ Comma separated values (.CSV)
5.18 Archiving of reports should be possible in a pre‐defined format to facilitate ease of retrieval
6 General
6.1 The system should process, track and account for the necessary range of traded and non-traded currencies which includes USD, INR, EUR, AUD, CHF, JPY, GBP, CAD, SGD, AED, HKD, CNY,DKK, SEK etc.
6.2 The system should handle multiple entities that includes branches, subsidiaries etc
6.3 The system should be capable to integrate with multiple types of transaction systems and other existing applications of the bank
6.4 System should be capable to integrate with standard domain controllers using multiple integration mechanisms
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6.5
System to get tightly integrated with the banks HR system, so as to control the managements of the users as per the details maintained in HR system. i.e. the users working location, designation/cadre needs to be pulled out from HR software on a daily basis and the system to be updated with the latest details as scheduled job.
6.6 System should be able to communicate with the client work stations using the Bank’s WAN with web based protocols (HTTP and HTTPS)
6.7 All communication between the server and clients over the web shall be with or without SSL validations. This needs to be configurable by the bank.
6.8
The network utilization for per user should be minimal. Please provide the minimum, maximum and average network consumption per user in kilobits per second (kbps) for accessing the application via WAN
Minimum Bandwidth required (Specify in kbps)
Average Bandwidth (Specify in kbps)
Maximum Bandwidth (Specify in kbps)
6.9 System to be supported in clients with Internet Explorer and Mozilla Firefox browsers using the existing WAN setup.
6.10
Flexibility of system : • Allow for changes to be made to existing methodologies (e.g. reconfigure models, change process steps in models etc.) and allow for the addition of new methodologies via the necessary support intervention. • Allow users to add, remove or amend data feeds, without requiring a change to the system itself.
6.11 Bank should be able to bring minimum customizations/new functionalities, validations in to the existing programs for which suitable hooks may be provided in the solution
7 Integration
7.1
Integration with other systems should be facilitated by the following modes but not limited to:
· Batch processing
· Online processing
· Real time processing
8 Documentation
8.1
Please list the availability of various documentations provided with your product(s) such as
a) User manuals to be provided to the bank as per the standard documents available
b) System Administration manual- Standard Technical manual will be provided to the users.
c) System manuals – Application Architecture, Entity-Relationship diagrams, Data base Scheme, Data dictionary, Source code.
d) Documents narrating the mathematics, the assumption in all the Models/Pricing engines used in the software
e) Error Messages and their meanings.
f) Training Manuals
8.2 Comprehensive documentation with indices or glossaries targeted at specific audience of users, systems manager/administrator.
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IX. AMENDMENT OF RFP:
At any time prior to the deadline for submission of bids, The South Indian Bank Limited, for any reason,
whether at its own initiative or in response to a clarification requested by a prospective bidder, may
modify the RFP by amendment.
In order to afford prospective Bidders reasonable time in which to take the amendment into account in
preparing their bid, the Bank, at its discretion, may extend the deadline for the submission of bid.
All bidders who have procured this RFP document from the Bank shall be notified of the amendment in
writing by e-mail or fax or post, and all such amendment(s) shall be binding on them.
X. INSTRUCTIONS FOR BID SUBMISSION
A. Request for Additional Information
Bidders are required to direct all communications for any clarification related to this RFP, to the
Designated Bank officials and must communicate the same in writing (address for communication is
given in table titled ‘Bid collection and submission details’ ). All queries relating to the RFP, technical or
otherwise, must be in writing only i.e. either via physical or electronic mail. The Bank will try to reply,
without any obligation in respect thereof, every reasonable query raised by the Bidder in the manner
specified.
B. Modification and Withdrawal of Bids
The bidder may modify or withdraw its bid after the bid’s submission, provided that The South Indian
Bank Limited receives written notice addressed to Chief Financial Officer- Corporate Financial
Management Department, SIB House, 2nd Floor, Mission Quarters, Thrissur, Kerala-680001 and of the
modification or withdrawal, before the expiration of deadline prescribed for submission of bids. In case
of modifications, the bidder is expected to resubmit entire bid. Only addendums/amendments will not be
accepted.
C. Rejection / Acceptance of Bid
The South Indian Bank Limited reserves the right to accept or reject any or all the bids without assigning
any reason whatsoever. Any decision of The South Indian Bank Limited in this regard shall be final,
conclusive and binding on the bidder.
D. Cancellation of Bid
The South Indian Bank Limited reserves all right to cancel/re-issue/re-commence the entire bid process
and or any part in case of any anomaly, irregularity or discrepancy in regard thereof without assigning
any reason whatsoever, at the sole discretion of The South Indian Bank Limited. Any decision in this
regard shall be final, conclusive and binding on the bidder.
E. Period of Validity of Bids
Validity Period: -Bids shall remain valid for 90 days from the last date specified for submission of bids in
this RFP. The South Indian Bank Limited holds the rights to reject a bid valid for a period shorter than 90
days.
Extension of Period of Validity: - In exceptional circumstances, The South Indian Bank Limited may solicit
the Bidder’s consent to an extension of the validity period. The request and the response thereto shall be
made in writing. Extension of validity period by the Bidder should be unconditional and irrevocable.
Corporate Financial Management Department, The South Indian Bank Limited. Page 32
XI. SUBMISSION OF BIDS
A. Mode of submission
The bidder shall submit bid in a sealed and marked outer envelope. This outer envelope shall be marked
as "Bid for Integrated Corporate Financial Management Solution". In case the bidders opt to remit the
non-refundable bid submission fee by way of DD, the DD shall be safely kept in the outer envelope. If the
bid submission fee is by way of NEFT, the UTR number shall be furnished. In addition to the DD/UTR
number, this outer envelope shall contain following envelopes:
1. Envelope labelled as ‘Eligibility criteria’:- This envelope shall contain the documentary proof and
annexure required if any in respect of each of the criterion listed out in Section-XIV. The check list for
submission of eligibility criteria is given in Annexure-4. This envelope shall without fail contain the profile
of bidder and his partner if any as specified in Annexure-5
2. Envelope Labelled as ‘Technical Bid’: - The contents of this envelope shall assist us in evaluation of
technical and functional requirements of the software solution. This envelope shall contain four inner
envelopes, one for FAPS, FAMS, CFMS and one for technical requirements. The inner envelopes shall
contain the responses against each of the functional/technical requirements under respective areas.In
addition to the hard copy of the responses the envelope shall contain a CD containing the soft copy of
responses.
It is mandatory to furnish the Technical & Functional Specification in the format attached in the spread
sheet uploaded along with this document. The hyperlink for downloading the specifications is given
below
Click here for downloading the format
The correct information of the functional capabilities of product being offered should be reflected in the
responses. Any additional information available, though not included in the form, may also be
submitted.
In addition to the four envelopes mentioned above this envelope shall also contain a fifth inner
envelope. This fifth envelope shall contain all other contents of technical bid specified in this section.
Content of Technical Bid
Implementation methodology as given in Annexure-6
Responses against functional and technical requirement specified in this RFP(as indicated in above
paragraphs).
Reference site details in the format specified in Annexure-7
Details of past experience as specified in the Annexure-8
The proposed project team profile as given in Annexure-9
The details of training programs conducted by the bidder in format specified in Annexure-10.The
documentary proof in support of these programmes in the customer- Bank’s letter head shall also be
included in this envelope.
Any other relevant information
3. Envelope titled ‘Commercial Bid’: - The commercial bid should be given by the vendors in the format as
shown in Annexure -12.The Bidder is expected to quote unit price in Indian Rupees (without decimal
Corporate Financial Management Department, The South Indian Bank Limited. Page 33
places) for all components and services. All taxes and other statutory deductions if any to be mentioned
separately.
The price should be quoted for each item, each unit with total cost, module wise, if modular. Prices for all
items including optional items, if any, should also be mentioned. AMC for each item year wise should be
provided. The envelope labeled as commercial bid should include the following:
The bid covering letter cum declaration format is given in Annexure-11
Details of cost of deliverables for each financial management solution as perAnnexure-12
Annexure-13 containing the total cost of ownership computation
4. Envelope titled ‘Annexures’: - This envelope shall contain all the Annexures specified in this RFP, except
for the annexures stipulated to be included in other envelopes. It shall also include documentary proof
required for substantiating the information given in Annexure, if any. In addition to the annexures
specifically listed out in this RFP this envelope shall also include:
Technology, architecture of proposed solution, exact tools to be used
List of all software / tools to be used together with licensing details
Tentative project time schedule and plan
Project management, control and tracking mechanism
Quality control setup and procedures to be followed
Implementation & Training plan
Technical brochures and user manual
XII. ADDITIONAL INSTRUCTIONS FOR BIDDERS
A. Source Code
i. The application software should mitigate Application Security Risks, at a minimum; those discussed in
OWASP top 10 (Open Web Application Security Project).
ii. The Bank reserves the right to audit the Application / Source Code by suitable Security Auditor.
iii. The Bidder shall provide complete legal documentation of all subsystems, licensed operating systems,
licensed system software, and licensed utility software and other licensed software. The Bidder shall
also provide licensed software for all software products whether developed by it or acquired from
others as part of the project. The Bidder shall also indemnify the Bank against any levies / penalties on
account of any default in this regard.
iv. In case the Bidder is coming with software which is not its proprietary software, then the bidder must
submit evidence in the form of agreement with the software vendor which includes support from the
software vendor for the proposed software for the full period required by the Bank.
v. The bidder needs to produce certificates of quality control and security audit done on the software in
the recent past.
B. Software Delivery & Installation
i. The bidder will provide the complete compiled code. The bidder will supply the automated Installation
procedures. The bidder will install the application software on Test and Live environments.
ii. The installation of the product will be considered complete only after demonstration of all functional
features of the software as given in RFP and as per the implementation report submitted.
Corporate Financial Management Department, The South Indian Bank Limited. Page 34
iii. The solution must comply with all applicable requirements defined by any regulatory, statutory or legal
body which shall includebut not be limited to RBI or other Regulatory Authority, judicial courts in
India.
C. Acceptance of software
i. The BANK will accept the developed/ customized software only after implementation of the software
with successful conduct of acceptance testing by users. Software will be considered to be accepted only
after the BANK issues an acceptance letter to the vendor. New Software may be audited for risk analysis
application functionality and security features by Bank’s IS Audit team or a third party vendor appointed
by the BANK, if so desired by the BANK.
D. Inspection and Tests
i. Bank or its representative shall have the right to inspect and/or to test the software to confirm their
conformity to the requirements/specifications mentioned in this RFP.
ii. The inspections and test may be conducted on the premises of the vendor, at point of delivery and/or at
the final destination. If conducted on the premises of the vendor all reasonable facilities and assistance,
including access to drawings and production data, shall be furnished to the inspectors at no charge to
the Bank.
iii. Should any inspected or tested software fail to conform to the specifications, the Bank may reject it, and
the vendor shall either replace the rejected software or make alterations necessary to meet
specification requirements free of cost to the Bank.
E. Information Ownership
i. All information processed, stored, or transmitted by successful Bidder’s software belongs to the Bank.
By having the responsibility to maintain the software, the Bidder does not acquire implicit access rights
to the information or rights to redistribute the information. The Bidder understands that civil, criminal,
or administrative penalties may apply for failure to protect information appropriately.
ii. Any information considered sensitive by the Bank must be protected by the successful Bidder from
unauthorized disclosure, modification or access. The Bank’s decision will be final.
iii. Types of sensitive information that will be found on Bank system’s which the Bidder plans to support or
have access to include, but are not limited to: Information subject to special statutory protection, legal
actions, disciplinary actions, complaints, IT security, pending cases, civil and criminal investigations, etc.
The successful bidder shall exercise adequate judgment to decide if particular information is sensitive
and consult with the Bank in case of doubts.
F. Adherence to Standards
i. The bidder should adhere to laws of land and rules, regulations and guidelines prescribed by various
regulatory, statutory and Government authorities in India. The Bank reserves the right to conduct an
audit/ongoing audit of the services provided by the bidder. The Bank reserves the right to ascertain
information from the Banks and other institutions to which the bidders have rendered their services for
execution of similar projects.
G. Security Configuration, Monitoring and Audit
Corporate Financial Management Department, The South Indian Bank Limited. Page 35
i. The bidder should support proactively the implementation of baseline security configurations of
Operating System, Database and Web servers in accordance with the industry best practices and Banks
Board approved baseline documents.
ii. Compliance with security best practices may be monitored by periodic computer security audits
performed by or on behalf of the Bank. The periodicity of these audits will be decided at the discretion
of the Bank. Periodicity for Regulatory Audits would be required as per the rules and guidelines laid
down by the regulator or as required by the regulator. These audits plan to include, but are not limited
to, a review of: access and authorization procedures, physical security controls, input/output controls,
DB controls, backup and recovery procedures, network security controls and program change controls.
H. Considerations for Proposed Hardware
i. The Bidder should provide the detailed specifications for hardware required.
ii. The bidder shall specify the suitable hardware and supporting software which shall deliver the best
throughput and performance considering the present volumes and the sizing proposed.
iii. The bidder should consider the probable increase in volumes for next 7 years.
I. Service Level Agreement (SLA)
The bidder shall be bound by the Service Levels described in this document. Service Levels will include
Availability measurements and Performance parameters. Bank requires the Bidder to provide reports
for all availability and performance parameters a log of all issues that have been raised and Closed/
Pending Closure by the Bidder. The frequency of these reports would be Weekly, Monthly, Quarterly
and Yearly as mutually agreed. Apart from reports on each availability and performance measurement
parameter mentioned below, the reporting should also include the following:
Utilization of CPU, RAM, Hard Disk, I/O (Peak and Average)
Percentage of CPU utilized by the system and user activity.
CPU utilization broken down by user CPU and system CPU.
Percentage of physical memory utilized by system and user processes.
Problem Trends
Call Resolution Time
Audits will normally be done on monthly/quarterly basis or as required by Bank and will be performed
by Bank or Bank appointed third party agencies.
The bidder is bound to provide on-site support to meet the requirements specified in SLA. In other
words, if the services rendered by the system falls short of standards stipulated in SLA, the bidder shall
provide on-site assistance.
J. Project Documentation and Manuals
All works related to the assignment handled are to be well documented and will form the part of
deliverables. They should be delivered both in hard copy and soft copy at the end of the each stage.
K. REPORTING PROGRESS
The Bidder shall report progress of all the activities covered within the scope of work given in this RFP.
The monthly progress report shall be given free of cost about various aspect of the works/Service(s) to
Corporate Financial Management Department, The South Indian Bank Limited. Page 36
The South Indian Bank Limited. The South Indian Bank Limited on mutual agreement between both
Parties may change the periodicity of such reports.
L. Warranty & Annual Maintenance
i. The warranty period and AMC for the Software shall be for2 years and 5 years respectively from the GO
LIVE date of the system. The AMC period start after completion of warranty period.
ii. AMC payment shall be released yearly in advance.
iii. During Warranty Period/ AMC, Bidder guarantees a minimum uptime of 99.5 % on monthly basis for the
entire turnkey solution provided. This will be subject to a ceiling of not more than 120 minutes
cumulative downtime. Successful Bidder is expected to submit a report within a week after expiry of
every calendar month in this regard.
iv. During maintenance period also, the Bidder guarantees on monthly basis an uptime of 99.5% of the
entire solution provided. Accordingly it is expected that necessary redundancy is built into the solution
for all components whether software or hardware.
v. During the period of AMC, if the service provided by the bidder is not satisfactory, bank reserves the right
to terminate the AMC contract.
vi. The maximum response/resolution time for a maintenance complaint from the site of installation (i.e.
time required after a request call /email is made or letter is written) as per the following;
A. Critical Issues : Which does not permit bank to carry out further day to day business or report to
the regulator.
Response Time : One Hour Resolution Time: Two Hours
[However in case a permanent solution could not be arrived, work around solution should be
provided with in the resolution time(as mentioned above) and subsequently the issue has to be
resolved permanently]
B. Non- Critical Issues: Any modifications or additions which can’t be postponed beyond one day
Response Time : Two Hours Resolution Time: One Day
C. Nice to have Issues: Any requirements/issues which is not covered under A or B above.
Response Time : Two Hours Resolution Time: One Week
vii. In the event of failure of maintaining the uptime SLA liquidated damages of 10,000/- per hour with a
grace period of 120 minutes(considered as a part of downtime). The liquidated damages mentioned
under this clause shall be independent of liquidated damages/penalty mentioned in clause XVI.G of this
RFP
M. Terms and Conditions during Warranty and AMC Period
During the period of contract up to completion of Warranty and also during annual maintenance, the
selected bidder shall do the following:
a. Any software support like update/enhancement/software upgrade etc. released till the completion of
warranty and during annual maintenance shall be supplied, installed and commissioned free of cost by
the bidder. However, any such software support like update/ enhancement/upgrade shall be
communicated to the bank by the bidder within a period of one month from the date of release. The
Bank reserves the right to procure the update/enhancement/ system software upgrade.
b. If any software upgrades and updates are provided by the OEM as free of cost, it should be provided and
installed & configured by the selected bidder free of cost under warranty/ AMC.
Corporate Financial Management Department, The South Indian Bank Limited. Page 37
c. Any corruption in the Software or media shall be rectified during the full period of the contract including
Warranty and AMC, at no extra cost to the Bank.
d. The system services, as and when required, and complete maintenance of the software system during
warranty and AMC period shall be supported.
e. Service Support is defined specifically as helpdesk, update/enhancement, upgrade, technical guidance,
technical consultancy, enablement of features and functionality, problem solving and troubleshooting,
providing technical solution, rectification of bugs, enabling features of the software already provided,
providing additional user controlled reports, Changes in configuration & settings, device configuration,
enabling parameterized features, future product information, migration, manpower resource allotment
for pre-planned activity, co-ordination for changes in structure, etc.
f. The support shall be given in person or through telephone, letter and E-mail within a reasonable time as
the case may be.
g. In future, if any configuration changes are required, it should be done by the bidder during warranty and
AMC period. However Bank will intimate the bidder well in advance for doing such configuration
changes. Configuration changes may be done either centrally or remotely as decided by the bank when
need arises. However if bidder’s personnel is stationed at the remote place the bidder should arrange the
personnel to make such configuration change at the respective location at bidders’ own cost. However in
case the bidder has any concerns, it should be informed to the Bank in writing with reason for taking
appropriate/ amicable/ mutually agreed decision in the matter.
h. The bank reserves the right to modify/update the parameter files/configuration with required awareness
of its consequences and any such modification/ updation will be recorded for information of the selected
bidder without any impact on the media as per OEM descriptions.
i. Only licensed copies of software shall be supplied and ported. Further, all software supplied shall be of
latest tested proven version which is bug free. The Solution offered should have all components which
are bug free, no known vulnerabilities reported and of latest stable version, which are having a 3 years
clean track record.
j. The Bidder shall be bound to provide technical consultancy and guidance for successful operation of the
Solutions and its expansion in future by the Bank during the warranty and AMC period.
k. Preventive maintenance shall be compulsory during Warranty and AMC period. Preventive maintenance
activity should be completed every quarter and report should be submitted to the Bank. Preventive
maintenance activity should take care of parameter configuration verification, device health check-up,
fine-tuning the configuration, verification of bugs/patches etc.
XIII. TERMINATION
A. Termination For Default
The Bank, without prejudice to any other remedy for breach of contract, by written notice of default
sent to the successful bidder, may terminate this contract in whole or in part:
a. If the successful bidder fails to deliver any or all of the deliverables within the period(s) specified in
the Contract, or within any extension thereof granted by the Bank; or;
b. If the Successful Bidder fails to perform any other obligation(s) under the contract.
c. If the Successful Bidder, in the judgment of the Bank has engaged in corrupt or fraudulent practices
in competing for or in executing the Contract. Corrupt practice means the offering, giving, receiving
Corporate Financial Management Department, The South Indian Bank Limited. Page 38
or soliciting of anything of value or influence the action of a public official in the procurement
process or in contract execution; and “fraudulent practice” means a misrepresentation of facts in
order to influence a procurement process or the execution of a contract to the detriment of the
Bank, and includes collusive practice among Bidders (prior to or after bid submission) designed to
establish bid prices at artificial non-competitive levels and to deprive the Bank of the benefits of free
and open competition.
In the event, the Bank terminates the Contract in whole or in part, the Bank may procure, upon such
terms and in such manner as it deems appropriate, Goods or Services similar to those undelivered, and
the Successful Bidder shall be liable to the Bank for any excess costs for such similar Goods or Services.
However, the Successful Bidder shall continue performance of the Contract to the extent not terminated.
B. Termination for Insolvency
If the Bidder becomes Bankrupt or insolvent, has a receiving order issued against it, compounds with its
creditors, or, if the Bidder is a corporation, a resolution is passed or order is made for its winding up
(other than a voluntary liquidation for the purposes of amalgamation or reconstruction), a receiver is
appointed over any part of its undertaking or assets, or if the Bidder takes or suffers any other analogous
action in consequence of debt; then the Bank may, at any time, terminate the contract by giving written
notice to the Bidder. If the contract is terminated by the Bank in terms of this Clause, termination will be
without compensation to the Bidder, provided that such termination will not prejudice or affect any right
of action or remedy which has accrued or will accrue thereafter to the Bank. In case, the termination
occurs before implementation in all the locations in terms of this clause, the Bank is entitled to make its
claim to the extent of the amount already paid by the Bank to the Bidder.
C. Termination for convenience
The Bank, by written notice sent to the Bidder, may terminate the Contract, in whole or in part, at any
time at its convenience. The notice of termination shall specify that termination is for the Bank’s
convenience, the extent to which performance of work under the Contract is terminated and the date
upon which such termination becomes effective
D. Termination – Key Terms & Conditions
The Bank shall be entitled to terminate the agreement with the Bidder at any time by giving sixty (60)
days prior written notice to the Bidder. The Bank shall be entitled to terminate the agreement at any
time by giving notice if the bidder:
a. has a winding up order made against it; or
b. has a receiver appointed over all or substantial assets; or
c. is or becomes unable to pay its debts as they become due; or
d. enters into any arrangement or composition with or for the benefit of its creditors; or
e. Passes a resolution for its voluntary winding up or dissolution or if it is dissolved.
The Bidder shall have right to terminate only in the event of winding up of the Bank.
Corporate Financial Management Department, The South Indian Bank Limited. Page 39
E. Consequences of Termination
In the event of termination of the Contract due to any cause whatsoever, [whether consequent to the
stipulated term of the Contract or otherwise], The Bank shall be entitled to impose any such obligations
and conditions and issue any clarifications as may be necessary to ensure an efficient transition and
effective business continuity of the Service(s) which the Bidder shall be obliged to comply with and take
all available steps to minimize loss resulting from that termination/breach, and further allow the next
successor Bidder to take over the obligations of the erstwhile Bidder in relation to the
execution/continued execution of the scope of the Contract.
In the event that the termination of the Contract is due to the expiry of the term of the Contract, a
decision not to grant any (further) extension by the Bank, the Bidder herein shall be obliged to provide all
such assistance to the next successor Bidder or any other person as may be required and as the Bank
may specify including training, where the successor(s) is a representative/personnel of the Bank to
enable the successor to adequately provide the Service(s) hereunder, even where such assistance is
required to be rendered for a reasonable period that may extend beyond the term/earlier termination
hereof.
Nothing herein shall restrict the right of the Bank to invoke the Performance Bank Guarantee and other
guarantees, securities furnished and pursue such other rights and/or remedies that may be available to
the Bank under law or otherwise.
The termination hereof shall not affect any accrued right or liability of either Party nor affect the
operation of the provisions of the Contract that are expressly or by implication intended to come into or
continue in force on or after such termination.
F. Exit Option
The Bank reserves the right to cancel the contract in the event of happening one or more of the following
Conditions:
i. Failure of the successful Bidder to furnish the Performance Guarantee within 30 days from the date
of signing of the Contract by the Bank and the Bidder.
ii. Failure of the bidder to agree on the terms of the contract within 21 days from the date of
communication of award by the Bank and sharing of terms of contract by the Bank. If the bidder
does not meet these criteria, then the Bank may at its discretion declare the next best bidder as the
successful bidder.
iii. Failure of the successful Bidder to sign the contract within 10 days from the agreement on the terms
of the issue of Contract by the Bank
iv. Delay in completing installation / implementation and acceptance tests/ checks beyond the
specified periods;
v. Serious discrepancy in functionality to be provided or the performance levels agreed upon, which
have an impact on the functioning of the Bank.
In addition to the cancellation of contract, Bank reserves the right to appropriate the damages through
encashment of Performance Guarantee given by the Bidder.
Corporate Financial Management Department, The South Indian Bank Limited. Page 40
The Bank and the Bidder shall together prepare the Reverse Transition Plan as part of Bidder exit plan.
However, the Bank shall have the sole discretion to ascertain whether such Plan has been complied with.
Notwithstanding the existence of a dispute, and/or the commencement of arbitration Proceedings, the
Bidder will be expected to continue the facilities management services. The Bank shall have the sole and
absolute discretion to decide whether proper reverse transition mechanism over a period of 6 to 12
months, has been complied with.
Reverse Transition mechanism would typically include service and tasks that are required to be
performed / rendered by the Bidder to the Bank or its designee to ensure smooth handover, transitioning
of application knowledge, Bank’s deliverables, and maintenance and facility management.
G. Termination of contract
Apart from the general grounds of default mentioned above, the Bank reserves its right to cancel the
order in the event of, but not limited to, one or more of the following specific situations:
a) Unnecessary or unwarranted delay in execution of the work allotted.
b) Delay in providing the requisite manpower at the Bank’s site.
c) Delay in submission of reports beyond the stipulated periods.
d) Change in the composition of staff as furnished in the bid
e) Breach of trust is noticed during any stage of the consultancy assignment.
f) The selected bidder commits a breach of any of the terms and conditions of the bid.
g) The selected bidder goes in to liquidation voluntarily or otherwise.
h) If it is found at any stage that the bidder has concealed any important information or has
submitted any false information or declaration particularly regarding any pending legal action or
blacklisting status.
i) The Bank reserves the right to recover any dues payable by the selected bidder from any amount
outstanding to the credit of the selected bidder, including the pending bills and security deposit, if
any, under this contract or any other contract/order.
j) The decision of the Bank as to whether or not any one or more of the above situation has(have)
arisen shall be final and binding on the vendor
In addition to the cancellation of order, The Bank reserves the right to appropriate the damages from
foreclosure of the Bank guarantee given by the bidder.
H. Termination of partner of Bidder
In case service of the partner of successful bidder are terminated due to any reasons whatsoever
including but not limited to the reasons mentioned above, the bidder shall be responsible for
identifying an alternative partner to execute the tasks unfinished by the terminated partner.
The party identified by the successful bidder shall also comply with the eligibility criteria listed out in
this RFP.
I. Force Majeure
i. Notwithstanding the provisions of TCC (Terms & Conditions of the Contract), the Bidder shall not be liable
for forfeiture of its performance security, liquidated damages, or termination for default if and to the
extent that its delay in performance or other failure to perform its obligations under the Contract is the
Corporate Financial Management Department, The South Indian Bank Limited. Page 41
result of an event of Force Majeure.
ii. For purposes of this clause, “Force Majeure” means an event beyond the control of the Bidder and not
involving the Bidder’s fault or negligence and not foreseeable. Such events may include, but are not
restricted to, Acts of God, wars or revolutions, fires, floods, epidemics, quarantine restrictions, and
freight embargoes.
iii. If a Force Majeure situation arises, the Bidder shall promptly notify the Bank in writing of such condition
and the cause thereof. Unless otherwise directed by the Bank in writing, the Bidder shall continue to
perform its obligations under the Contract as far as is reasonably practical, and shall seek all reasonable
alternative means for performance not prevented by the Force Majeure event.
J. Resolution of disputes:
The Bank and the bidder shall make every effort to resolve amicably, by direct informal negotiation, any
disagreement or dispute arising between them under or in connection with the contract. If after thirty
days from the commencement of such informal negotiations, The South Indian Bank Limited and the
bidder are unable to resolve amicably a contract dispute; either party may require that the dispute be
referred for resolution by formal arbitration.
All questions, disputes or differences arising under and out of, or in connection with the contract, shall
be referred to two Arbitrators: one Arbitrator to be nominated by the Bank and the other to be
nominated by the Bidder. In the case of the said Arbitrators not agreeing, then the matter will be
referred to an umpire to be appointed by the Arbitrators in writing before proceeding with the
reference. The award of the Arbitrators, and in the event of their not agreeing, the award of the Umpire
appointed by them shall be final and binding on the parties. The Arbitration and Conciliation Act 1996
shall apply to the arbitration proceedings and the venue & jurisdiction of the arbitration shall be
Thrissur.
The cost of arbitration (except the cost & fees of Advocates) shall be borne by each party in equal
proportion. The cost of the advocates shall be borne by respective party appointing the Advocates.
XIV. ELIGIBILTY CRITERIA
The Bank is looking to identify an Integrated Corporate Financial Management Solution Provider who
has demonstrable technical competency for implementing the same In accordance with the Best
Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and
other relevant Acts, rules, regulations, directions as applicable. Only those Bidders who fulfil the
following criteria are eligible to respond to the RFP. Any effort by Bidder to influence the Bank in the
Bank’s bid evaluation, bid comparison or contract award decision may result in the rejection of the
Bidders’ bid. Bank’s decision will be final and without prejudice and will be binding on all Bidders.
The bidders are required to meet the following eligibility criteria and provide adequate documentary
evidence for each of the criteria stipulated below. Only those bids satisfying all the eligibility criteria
would be further processed.
Co-operative Banks (State Co-operative Banks, District Central cooperative Banks, Urban Co-operative
Banks, etc.) shall not be considered for evaluation.
Corporate Financial Management Department, The South Indian Bank Limited. Page 42
No Eligibility Criteria Details of Proof
1
Should be a Government Organization/ PSU /PSE / registered partnership firm/LLP/ a limited company under Indian Laws / an autonomous Institution promoted by RBI/GOI
Reference of Act/Notification, Registration Certificate or any document evidencing the formation of entity
2
Should have existence in India for One year as on 31.03.2016. (In case of mergers / acquisitions / restructuring or name change, the date of establishment of earlier / original Partnership Firm / Limited Company / Institution can be taken into account).
Letter of Commencement of Business in case of Public Company, Registration in case of others.
3 The Bidder should have average revenues in excess of INR 1 Crore for the last financial year.
Annual report, Balance Sheet / P&L statement (Audited).
4 The Bidder should have demonstrated Positive Net Worth, for the last financial year.
Copy of audited balance sheets and profit and loss statements for last two financial years
5 The bidder and partner should have never been blacklisted / barred / disqualified by any regulator / statutory body.
Self-Declaration subject to satisfaction of South Indian Bank
6
The Bidder should own the intellectual property rights of the product / solution or should have rights from the owner. If not, the Bidder should have in place proper tie-ups, commercial agreements, authorized implementation partnership etc. for deployment/ resale/ customization of software with the product Bidder or any other third party, whose software products are offered
In case where bidder is a SI
A. Self-Declaration from the Bidder stating that proper tie up/ agreement for deployment/ resale/ customization of software has been entered with OEM
B. An authorization letter from manufacturer (OEM) to this effect should be furnished and it shall give mandate to participate in this RFP.
C. Self-declaration specifying that the bidder would be solely responsible for designing, procuring, delivering, customising and implementing the entire solution to the satisfaction of Bank.
In case where bidder is an OEM
A. Self-declaration specifying that the bidder would be solely responsible for designing, procuring, delivering, customising and implementing the entire solution to the satisfaction of Bank.
B. The letter from the bidder specifying that if any of its partners is not able to meet its obligations as per contract during contract period, the bidder will meet the same to the satisfaction of Bank.
7
The bidder and partner should have complete understanding in accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable for implementing the ICFMS solution in the Bank.
Self-Declaration subject to satisfaction of South Indian Bank
8
The Bidder must have installed and implemented/or is in the process of implementation of the Integrate Corporate Financial management solution or its module in at least one Scheduled Commercial Bank/ Financial Institution in India or abroad.
Copies of the credential letter from the Bank(s) to establish that the successful bidder has implemented/in the process of implementation of the proposed solution.
9 Disclosure of Conflict of Interest by bidder/ partner Self-Declaration
Corporate Financial Management Department, The South Indian Bank Limited. Page 43
XV. SELECTION STRATEGY
The objective of the evaluation process is to evaluate the bids to select an effective and best fit solution
at a competitive price. The evaluation will be undertaken by an Internal Selection Committee formed by
the Bank. The Bank may consider recommendations made by External Experts/Consultants on the
evaluation. The committee or authorised official shall recommend the successful bidder to be engaged
for this assignment before Board and the decision of our Board shall be final, conclusive and binding on
the bidders.
The Bank will scrutinize the offers to determine whether they are complete, whether any errors have
been made in the offer, whether required technical documentation has been furnished, whether the
documents have been properly signed, and whether items are quoted as per the schedule. The Bank
may, at its discretion, waive any minor non- conformity or any minor deficiency in an offer. This shall be
binding on all Bidders and the Bank reserves the right for such waivers and the Bank’s decision in the
matter will be final.
Bank may call for any clarifications/additional particulars required, if any, on the technical/ commercial
bids submitted. The bidder has to submit the clarifications/ additional particulars in writing within the
specified date and time. The bidder’s offer may be disqualified, if the clarifications/ additional
particulars sought are not submitted within the specified date and time. Bank reserves the right to call
for presentation/s, product walkthroughs, on the features of the solution offered etc., from the bidders
based on the technical bids submitted by them. Bank also reserves the right to conduct Reference Site
Visits at the bidder’s client sites. Based upon the final technical scoring, short listing would be made of
the eligible bidders for final commercial bidding.
A. Evaluation of Bid:-
The proposal submitted by the Bidders shall be evaluated on the following group of parameters.
Functional Requirements (FR)
Technical Requirements (TR)
Product Demonstration and Bid Presentation (PB)
Approach and Methodology (AM)
Past Experience (PE)
The marks are assigned for each individual parameter under these groups and marks scored by each
bidder under each parameter are aggregated to find out the total technical score of the bidder.
The score for evaluation of ICFMS shall be decided by the Internal Selection Committee.
The selection parameters are explained in following paragraphs.
i. Scoring Methodology for Functional Requirements (FR) and Technical Requirements (TR)
The functional/technical capabilities are evaluated as per the readiness (Type of response/Scale)
towards the expected functionalities for Integrated Corporate Financial Management Solution (ICFMS).
NOTE: The Bank's decision in respect of eligibility criteria, evaluation methodology and short
listing of bidders will be final and no claims, whatsoever in this respect, shall be entertained.
Corporate Financial Management Department, The South Indian Bank Limited. Page 44
All the functional and technical requirements for achieving regulatory compliance are mandatory.
Bidder shall indicate against each requirement/capability as per the following table.
The type of response/scale Expansion/meaning
A Available – Standard Feature
C Customizable before “Go Live”
NA Not Available
While scoring, the scales namely A, C and NA shall be assigned 100%, 50% and 0% weight respectively.
These percentages shall be applied on the maximum marks allocated against each parameter to arrive
at the score earned by the bidders under each parameter.
The Software solution offered, however, should have at least 70% of the requirements as standardized.
The remaining shall be customized before the completion of pilot run at no extra cost to the Bank. The
bidder shall score at least 70% of the maximum score under technical parameters.
The proposal submitted by the Bidders shall be evaluated by the bank and only the short listed vendors
will be called for further negotiations.
ii. Scoring Methodology for Product Demonstration & Bid Presentation (PB)
Eligible Bidders will be required to make presentations to supplement their bids and show a detailed
product demonstration. The number of eligible bidders called for product demonstration is purely a
matter of discretion of the Bank. The Bank will schedule presentations and the time and location will be
communicated to the Bidders. Failure of a Bidder to complete a scheduled presentation to the Bank
may result in rejection of the proposal.
The marks assigned under this parameter shall be based on the effectiveness of the demonstrations and
presentations made by the bidder. The same criteria (as Evaluation for functional specifications) will be
applied to Product Demonstration also.
iii. Scoring Methodology for ‘Approach and Methodology (AM)’
The bidder is expected to provide, as a part of the technical bid, a detailed document that explains the
approach and methodology proposed by the bidder for the implementation of the proposed solution.
The “Approach and Methodology” adopted for the Implementation would be evaluated by SIB and
would at the minimum cover Reference site visit/Tele Conference, Team Strength, Project Management
and Training.
Reference site visit / Tele Conference: A committee of officials from the Bank would carry out Reference
Site Visits and/or Telephonic interviews/discussion with the existing customers of the Bidder for inputs
(like satisfaction of the organization of the product, timeliness of implementation, promptness of
support services etc.). If the committee receives negative feedback, may lead to reject the proposal.
Strength: Bidder responses to each point under Team Strength in Proposed Team Profile, including the
team profile provided by the Bidder, would be evaluated. The Bidder should ensure that the people
above the role of the Team Lead who are proposed for this project should have worked on projects in
Indian Banks earlier. The members of the proposed project team and team lead should have a minimum
experience of 2 years and 5 years respectively in implementation of similar kind of projects in India
/Abroad.
Corporate Financial Management Department, The South Indian Bank Limited. Page 45
In addition to the profile of his team members, the bidder is bound to furnish the profile of team
members of his partner if any. The format for furnishing the team profile is given in Annexure-9.
Project Management: Bidders are required to respond to each point under Project Management in
Annexure-6.Each question will be evaluated for suitability of response. The Bidder should provide
explanation on the Project Management process that is proposed for the Bank including details of how
the same was applied in a similar project.
Training: The Bidder will be responsible for training the Bank’s identified employees in the areas of
implementation, operations, management, error handling, system administration, etc. with respect to
the implementation of Integrated Financial Management Solution.
The quality of training programs already conducted by the Bidder shall form an integral part of the final
evaluation and selection of the Bidder. The detailed format for furnishing the details of training is given
in Annexure- 10.
iv. Scoring Methodology for Past Experience (PE)
The Bidder should provide details of past experience in implementing the proposed solution.
The Bidder’s past experience shall be evaluated and the score obtained by the Bidder shall be
considered for evaluation as given in the Annexure-8 ‘Past Experience’.
B. Evaluation of Commercial Bid:-
For commercial bid evaluation, the Bank may consider only the top three bidders who score highest in
technical and functional evaluations. The evaluation criteria mentioned in this RFP is tentative and the
score earned by the bidders in accordance with the evaluation parameters listed out above does not
confer them right to be called for negotiation. Further, the Bank has sole discretion in selection of the
successful bidder and decision of the Bank in this regard shall be final.
XVI. AWARD OF CONTRACT
A. Notification of Acceptance of Bid
Before the expiry of the period of validity of the proposal, The South Indian Bank Limited shall notify the
successful bidder in writing by hand-delivery or by email, that its bid has been selected. The bidder shall
acknowledge in writing receipt of the notification of selection and has to convey his absolute,
unconditional and unqualified acceptance and thereafter enter into agreement / Contract within 15
days from the date on which selection is notified to bidder. The proposed format of notification of
acceptance is given in Annexure-15.
B. Project Management:
The bidder will nominate a Project Manager immediately on acceptance of the order, who will be the
single point of contact for the project. The responsibilities and experience of project manager is detailed
under “Responsibilities of bidder” in Section III.B of this RFP.
The selected bidder cannot change the Project Manager or any other members of the team/s during the
entire period of execution of the implementation project unless consented in writing by the Bank. In the
eventuality of any such change the personnel brought in should have equivalent or more exposure and
qualifications compared to the personnel replaced and it should be with the Bank’s concurrence.
Corporate Financial Management Department, The South Indian Bank Limited. Page 46
The selected bidder shall ensure that personnel deployed are competent, do not violate any of the
contractual obligations under this contract and while on the premises of the Bank conduct them in a
dignified manner & shall not behave in any objectionable manner.
C. Signing of contract
Acceptance of selection shall be followed by signing of the Contract. However selection committee may
negotiate certain terms & conditions with successful bidder and obtain necessary approvals from higher
authorities, before signing of the Contract. The Bidders should sign the Contract Form. A specimen of
contract proposed to be executed with the successful bidder is given in Annexure -16. Besides, the
successful bidder should also sign a non-disclosure agreement in the format specified in Annexure-3.
The signing of Contract will amount to award of contract and Bidder will initiate the execution of the
work as specified in the Contract. The signing of contract shall be completed within 30 days of receipt of
notification of the acceptance of bid. Annexure 3 and Annexure 16 may be modified if deemed fit by
the Bank.
The contract is signed for the entire duration of the project. Successful bidder shall indemnify, protect
and save the Bank against all claims, losses, costs, damages, expenses, action, suits and other
proceedings, resulting from infringement of any patent, trademarks, copyrights etc or such other
statutory infringements under the Copy Rights Act, 1957 or IT Act 2008 or any Act in force at that time
in respect of all the hardware, software and network equipment’s or other systems supplied by bidder
to the Bank from whatsoever source.
D. Conditions precedent to contract
The Contract is subject to the fulfillment of the following conditions :-
Obtaining of all statutory, regulatory and other permissions, approvals, consents and no-objections
required under applicable laws or RBI for the performance of the service(s) under and in accordance
with the Contract.
Furnishing of such other documents as The South Indian Bank Limited may specify
E. Performance Bank Guarantee
The successful bidder shall submit a Performance Guarantee issued by a Public/Private Sector
Commercial Bank in favour of The South Indian Bank Limited as per the format given in Annexure -17for
10 % value of the contract in Indian Rupees along with the letter of acceptance of the assignment.
The Bidder shall furnish to the Bank, the Performance Guarantee within 30 days from the date of signing
of contract. The Performance Guarantee should be valid for the entire project period or entire period of
8 years, whichever is longer.Project period includes Implementation period (2 Months –FAPS& FAMS/ 1
Year-CFMS), Warranty period (2 years), AMCperiod (5 Years).
The proceeds of the performance Guarantee shall be payable to the Bank as compensation for any loss
resulting from the Bidder’s failure to complete its obligations under the Contract. The Performance
Guarantee shall be denominated in Indian Rupees and shall be by way of Bank Guarantee issued by a
Private Sector/ Public Sector Banks in India (other than The South Indian Bank), acceptable to the Bank.
The Bank guarantee will be returned to the selected bidder after the selected bidder’s performance
obligations under the agreement are completed and accepted by the Bank.
Corporate Financial Management Department, The South Indian Bank Limited. Page 47
The selected bidder shall be responsible for extending the validity date of the Bank guarantees as and
when it is due, on account of incompletion of the project.
The Bank shall invoke the Bank guarantee before the expiry of validity, if work is not completed / the
guarantee is not extended before the due date as the case may be, or if the selected bidder fails to
complete his obligations under the contract or if there is undue delay in implementation of the project
and achieving the respective milestones, or the bidder becomes insolvent or goes into liquidation
voluntarily or otherwise.
The Bank shall notify the selected bidder in writing before invoking the Bank guarantee. The proceeds of
the guarantee shall be payable to the Bank for any loss arising from the selected Bidder’s failure to
complete his obligations under the contract.
In the event of any contract amendment, the Bidder shall, within 30 days after receipt of such
amendment, furnish the amendment to the performance guarantee, rendering the same valid for the
duration of the contract as amended.
F. Time period for completion of assignment
The assignment will be for a period comprising of Implementation period (2 Months – FAPS&FAMS / 1
Year - CFMS), Warranty period (2 years) &AMC Period (5 Years).
The Bank, at its option may extend the timeframe, depending on its requirements.
The successful bidder shall complete the project / perform and render the Services within the agreed
time frame starting from the date of award of Contract/Agreement.
G. Delay in adhering to the project timelines/Liquidated damages
The Successful Bidder must strictly adhere to the time schedule, as specified in the Contract, executed
between the Bank and the bidder, pursuant hereto, for performance of the obligations arising out of the
contract and any delay will enable the Bank to resort to any or all of the following at sole discretion of the
Bank.
(a) Penalty; (b) Termination of the agreement fully or partly
If there is any delay in the implementation of the project due to bidder /partner’s fault in complying with
time schedule furnished by the bidder and accepted by the Bank, it will charge 1% on the total project
implementation cost to the bidder for each week of delay as penalty. Project Implementation cost in this
context refers to total expenditure expected to be incurred by the bank for procurement, design and
implementation of software solutions required to lay down Integrated Corporate Financial Management
Architecture In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income
Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable.
This penalty will be subject to an upper limit of 10% on the total project implementation cost. Thereafter
the order/contract may be cancelled and amount paid if any, may be recovered with 1.25% interest per
month. Any deviations from the norms would be treated as breach of the contract by the bidder and will
be dealt with accordingly. The delay will be measured with reference to time schedule to be specified in
the contract to be entered with the successful bidder.
The Bank also reserves its right to claim damages for improper or incomplete execution of the
assignment.
Corporate Financial Management Department, The South Indian Bank Limited. Page 48
H. Use of Contract Documents & Information
The successful bidder shall treat all documents, information, data and communication of and with The
South Indian Bank Limited as privileged and confidential and shall be bound by the terms and conditions
of the Non-Disclosure Agreement. The Bidder/implementation partner shall execute the Non-Disclosure
Agreement simultaneously at the time of execution of the Contract.
The successful bidder shall not, without The South Indian Bank Limited’s prior written consent, disclose
the Contract, or any provision thereof, or any specification, plan, sample or information or data or
drawings / designs furnished by or on behalf of The South Indian Bank Limited in connection therewith,
to any person other than a person employed by the Bidder in the performance of the Contract.
Any document in any form it has been obtained, other than the Contract itself, enumerated in this Bid
Documents shall remain the property of The South Indian Bank Limited and shall not be returned.
I. ‘NO CLAIM’ Certificate
The bidder shall not be entitled to make any claim, whatsoever, against The South Indian Bank Limited,
under or by virtue of or arising out of, the Contract/Agreement, nor shall The South Indian Bank Limited
entertain or consider any such claim, if made by the Bidder after he has signed a ‘No Claim’ Certificate in
favour of The South Indian Bank Limited in such forms as shall be required by The South Indian Bank
Limited after the implementation of Integrated Corporate Financial management software solution is
completed to the satisfaction of the Bank.
J. PUBLICITY
Any publicity by the bidder in which the name of the Bank is to be used should be done only with the
explicit written permission of the Bank.
K. Payment Terms:
The payment shall be released in accordance with table given below;
Project Milestones %
After Completion of UAT 50
After “Go Live” 25
Successful completion of “Go Live” and after Go Live support of 3 Months
15
Performance Guarantee – Payable in lieu of BG 10
Total 100
L. TAXES AND DUTIES:
The Successful Bidder will be entirely responsible to pay all taxes whatsoever in connection with delivery
of the services at the sites including incidental services and commissioning.
Wherever the laws and regulations require deduction of such taxes at the source of payment, Bank shall
effect such deductions from the payment due to the Bidder. The remittance of amount so deducted and
issue of certificate for such deductions shall be made by Bank as per the laws and regulations in force.
Nothing in the contract shall relieve the Bidder from his responsibility to pay any tax that may be levied in
India/abroad on income and profits made by the Bidder in respect of this contract.
Corporate Financial Management Department, The South Indian Bank Limited. Page 49
M. GENERAL TERMS AND CONDITIONS
Bidder should compulsorily respond to any clarification (technical, functional, commercial) letter/E-mail
sent by the Bank.
The South Indian Bank Limited reserves the right to open the quotations soon after their receipt from all
the Bidders without waiting till the last date specified.
Continuity of project team members to be ensured during the period of project.
Presence of any incomplete or ambiguous terms/ conditions/ quotes will disqualify the offer.
The South Indian Bank Limited is not responsible for non-receipt of quotations within the specified date
and time due to any reason including postal holidays, or other types of delays.
The South Indian Bank Limited is not bound to place the order from the lowest price bidder or the most
competent bidder.
The bidder shall share its technology strategies and research & development efforts, conducted in the
course of this assignment with The South Indian Bank Limited.
All inquiries, communications and requests for clarification shall be submitted in Hard copies/e-mail to
The South Indian Bank Limited and response for the same shall be obtained in writing. Only such
documents shall be considered as authoritative.
The bidders should ensure that all points in the RFP document are taken into account before submitting
the Bid Documents.
The bidder should have implemented similar assignment and necessary verifiable references in this effect
should be submitted with the proposal.
Bidders are bound to make full disclosure of information required to judge them on the basis of selection
criteria specified in Section XIV.
N. LITIGATION
If it comes to the notice of the Bank that the bidder has suppressed any information either intentionally
or otherwise, or furnished misleading or inaccurate information, the Bank reserves the right to disqualify
the bidder. If such information comes to the knowledge of the Bank after the award of work, The South
Indian Bank limited reserves the right to terminate the Contract unilaterally at the total cost and risk of
the bidder. The Bank also reserves the right to recover any dues payable by the selected bidder from any
amount outstanding to his credit, including the pending bills etc., if any. The Bank will also reserve the
right to recover any Advance paid.
Governing Law: - The Contract/Agreement shall be governed in accordance with the laws of Republic of
India. These provisions shall survive the Contract/Agreement.
Jurisdiction of Courts:-The courts of India at Thrissur have exclusive jurisdiction to determine any
proceeding in relation to the Contract/Agreement. These provisions shall survive the
Contract/Agreement.
Work under the Contract shall be continued by the selected bidder during the arbitration proceedings
unless otherwise directed in writing by the Bank unless the matter is such that the works cannot possibly
be continued until the decision of the arbitrator or of the umpire, as the case may be, is obtained. Except
as those which are otherwise explicitly provided in the Contract/this document, no payment due or
payable by the Bank, to the Bidder shall be withheld on account of the ongoing arbitration proceedings, if
any, unless it is the subject matter or one of the subject matter thereof. The venue of the arbitration shall
be at Thrissur, Kerala State, India.
Corporate Financial Management Department, The South Indian Bank Limited. Page 50
Annexure-1
Check List for Submission of Bid Documents
Check List
Sl No: Description Annexure No.
1. Authorization Letter Format 2
2. Non-Disclosure Agreement Form 3
3. Check list for Submission of Eligibility Criteria 4
4. Profile of Bidder/Partner 5
5. Implementation Methodology 6
6. Reference Site Details 7
7. Past Experience 8
8. Team Profile 9
9. Training 10
10. Cover Letter for Commercial Bid 11
11. The format for furnishing the price of Software &Hardware 12
12. Table for Arriving at the Total Ownership Cost 13
13. Bid Submission Covering Letter 14
14. Notification of Acceptance 15
15. Specimen Contract Form 16
16. Performance Bank Guarantee Format 17
Corporate Financial Management Department, The South Indian Bank Limited. Page 51
Annexure-2
Authorization Letter Format
(On Organization’s letter head)
Place:
Date:
To
Chief Financial Officer
The South Indian Bank Ltd
Corporate Financial Management Department,
SIB House, Head Office,
2nd Floor, Mission Quarters
Thrissur, Kerala,
Dear Sir,
SUB: Authorization Letter for attending the Pre-bid negotiations.
REF: YOUR RFP NO: - CFM/ RFP /001/2016 Dated08.08.2016
This has reference to our above RFP for implementation of Integrated Corporate Financial Management
Solution (ICFMS) - In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income
Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable.
Mr. / Ms. __________________________________________________ is hereby authorized to attend the
Pre-bid negotiations & to discuss with you on the subject RFP– “Integrated Corporate Financial
Management Solution (ICFMS)” on _____________ on behalf of our organization.
The specimen signature is attested below:___________________________
Specimen Signature of Mr. /Ms.___________________________________
____________________________ Signature of Authorizing Authority
__________________________________ Name and designation of Attesting Authority
Corporate Financial Management Department, The South Indian Bank Limited. Page 52
Annexure-3
Non-Disclosure Agreement Form
This Non-Disclosure Agreement made and entered into at ……….…………. this…….….day of ……………..…….2016
BY AND BETWEEN…………………Company Limited, a company incorporated under the Companies Act, 1956 having its registered office at ….……. (here after referred to as the Implementation partner, which expression unless repugnant to the context or meaning thereof be deemed to include its permitted successors) of the ONE PART;
AND
The South Indian Bank Limited, a company registered under the Companies Act, 1956 and a Banking company within the meaning of the Banking Regulation Act, 1949 having its registered office at SIB House, Mission Quarters, Thrissur, Kerala -680001 (hereinafter referred to as “The South Indian Bank Limited” which expression shall unless repugnant to the context or meaning thereof be deemed to include its successors and assigns) of the OTHER PART.
The Implementation partner and the South Indian Bank Limited are hereinafter collectively referred to as “the Parties “and individually as “the Party”
WHEREAS:
1. The South Indian Bank Limited is engaged in Banking business and intends to appoint an implementation partner for implementation of Integrated Corporate Financial Management Solution (ICFMS) - In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable and as per the scope of which is specified in CFM/ RFP /001/2016 Dt 08.08.2016. In the course of such assignment, it is anticipated that The South Indian Bank Limited or any of its officers, employees, officials, representatives or agents may disclose, or deliver, to the Implementation partner some Confidential Information (as hereinafter defined), to enable the Implementation partner to carry out the aforesaid exercise (hereinafter referred to as " the Purpose").
2. The Implementation partner is aware and confirms that the information, data and other documents made available in the Agreement /Contract and thereafter regarding the services delivered in this RFP or otherwise shall remain confidential.
3. The Implementation partner is aware that all the confidential information under the Bid documents or those shared under the terms if this Agreement or Contract is privileged and strictly confidential and/ or proprietary to The South Indian Bank Limited.
NOW, THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the above premises and The South Indian Bank Limited granting the Implementation partner and or his agents, representatives to have specific access to The South Indian Bank Limited property / information and other data it is hereby agreed by and between the parties hereto as follows:
1. Confidential Information:
(i)“Confidential Information” means all information disclosed/furnished by The South Indian Bank Limited or any such information which comes into the knowledge of the Implementation partner during the course of engagement, whether orally, in writing or in electronic, magnetic or other form for the limited purpose of enabling the Implementation partner to carry out the assignment, and shall mean and include data, documents and information or any copy, abstract, extract, sample, note or module thereof, explicitly designated as "Confidential"; Provided the oral information is set forth in writing and marked “Confidential" within fifteen (15) days of such oral disclosure.
Corporate Financial Management Department, The South Indian Bank Limited. Page 53
(ii) Information such as (i) intellectual property information; (ii) technical or business information or material not covered in (i); (iii) proprietary or internal information relating to the current, future and proposed products or services of The South Indian Bank Limited including, financial information, process/flow charts, business models, designs, drawings, data information related to products and services, procurement requirements, purchasing, customers, investors, employees, business and contractual relationships, business forecasts, business plans and strategies, information the Parties provide regarding third parties; (iv) information disclosed pursuant to this agreement including but not limited to Information Security policy and procedures, internal policies and plans and Organization charts etc; and (v) all such other information which by its nature or the circumstances of its disclosure is confidential
(iii) “Intellectual Property Rights” means any patent, copyright, trademark, trade name, design, trade secret, permit, service marks, brands, propriety information, knowledge, technology, licenses, databases, computer programs, software, know-how or other form of intellectual property right, title, benefits or interest whether arising before or after the execution of this Contract and the right to ownership and registration of these rights.
iv) The Implementation partner may use the Confidential Information solely for and in connection with the Purpose and shall not use the Confidential Information or any part thereof for any reason other than the Purpose stated above.
Confidential Information in oral form must be identified as confidential at the time of disclosure and confirmed as such in writing within fifteen days of such disclosure.
Confidential Information does not include information which:
(a) Is or subsequently becomes legally and publicly available without breach of this Agreement. (b) was rightfully in the possession of the Implementation partner without any obligation of confidentiality prior to receiving it from The South Indian Bank Limited, or prior to entering into this agreement, the recipient shall have the burden of proving the source of information herein above mentioned and are applicable to the information in the possession of the recipient. (c) was rightfully obtained by the Implementation partner from a source other than The South Indian Bank Limited without any obligation of confidentiality, (d)was developed by for the Implementation partner independently and without reference to any Confidential Information and such independent development can be shown by documentary evidence. (e) the recipient knew or had in its possession, prior to disclosure, without limitation on its confidentiality; (f) is released from confidentiality with the prior written consent of the other party.
The recipient shall have the burden of proving hereinabove are applicable to the information in the possession of the recipient.
Confidential Information shall at all times remain the sole and exclusive property of The South Indian Bank Limited. Upon termination of this Agreement, Confidential information shall be returned to The South Indian Bank Limited or destroyed at its directions. The destruction of information if any,shall be witnessed and so recorded, in writing, by an authorized representative of each of the Parties. Nothing contained herein shall in any manner impair or affect rights of The South Indian Bank Limited in respect of the Confidential Information.
In the event Implementation partner is legally compelled to disclose any Confidential Information, Implementation partner shall give sufficient notice to The South Indian Bank Limited to prevent or minimize to the extent possible, such disclosure. Implementation partner shall disclose to third party i.e. any Confidential Information or the contents of this Agreement without the prior written consent of The South Indian Bank Limited. The obligations of this Clause shall be satisfied by handling Confidential Information with the same degree of care, which the Implementation partner will apply to its own similar confidential
Corporate Financial Management Department, The South Indian Bank Limited. Page 54
information but in no event less than reasonable care. The obligations of this clause shall survive the expiration, cancellation or termination of this Agreement.
2. Non-Disclosure:
The Implementation partner shall not commercially use or disclose any Confidential Information or any materials derived there from to any other person or entity other than persons in the direct employment of the Implementation partner who have a need to have access to and knowledge of the Confidential Information solely for the Purpose authorized above. The Implementation partner shall take appropriate measures by instruction and written agreement prior to disclosure to such employees to prevent unauthorized use or disclosure. The Implementation partner agrees to notify The South Indian Bank Limited immediately if it learns of any use or disclosure of the Confidential Information in violation of terms of this Agreement.
Notwithstanding the marking and identification requirements above, the following categories of information shall be treated as Confidential Information under this Agreement irrespective of whether it is marked or identified as confidential:
a) Information regarding ‘The South Indian Bank Limited’ and any of its Affiliates, customers and their accounts (“Customer Information”). For purposes of this Agreement, Affiliate means a business entity now or hereafter controlled by, controlling or under common control. Control exists when an entity owns or controls more than 50% of the outstanding shares or securities representing the right to vote for the election of directors or other managing authority of another entity; or
b) any aspect of The South Indian Bank Limited's business that is protected by patent, copyright, trademark, trade secret or other similar intellectual property right; or
c) Business processes and procedures; or
d) Current and future business plans; or
e) Personnel information; or
f) Financial information.
g) Capital adequacy computation workings
3. Publications: The Implementation partner shall not make news releases, public announcements, give interviews, issue or publish advertisements or publicize in any other manner whatsoever in connection with this Agreement, the contents / provisions thereof, other information relating to this Agreement, including references whether through media, social network or otherwise, the Purpose, the Confidential Information or other matter of this Agreement, without the prior written approval of The South Indian Bank Limited.
4. Term: This Agreement shall be effective from the date hereof and shall continue till expiration of the Purpose or termination of this Agreement by The South Indian Bank Limited, whichever is earlier. The Implementation partner hereby agrees and undertakes to The South Indian Bank Limited that immediately on termination of this Agreement it would forthwith cease using the Confidential Information and further as directed The South Indian Bank Limited promptly return or destroy, under information to The South Indian Bank Limited, all information received by it from The South Indian Bank Limited for the Purpose, whether marked Confidential or otherwise, and whether in written, graphic or other tangible form and all copies, abstracts, extracts, samples, notes or modules thereof. The Implementation partner further agrees and undertake to The South Indian Bank Limited to certify in writing to The South Indian Bank Limited that the obligations set forth in this Agreement have been fully complied with.
Corporate Financial Management Department, The South Indian Bank Limited. Page 55
Obligation of confidentiality contemplated under this Agreement shall continue to be binding and applicable without limit in point in time. The Implementation partner agrees and undertake to treat Confidential Information as confidential for a period of [five (5)] years from the date of receipt and in the event of earlier termination of the Contract/Agreement, the Parties hereby agree to maintain the confidentiality of the Confidential Information for a further period of [two (2)] years from the date of such early termination.
5. Title and Proprietary Rights: Notwithstanding the disclosure of any Confidential Information by The South Indian Bank Limited to the Implementation partner, the title and all intellectual property and proprietary rights in the Confidential Information shall remain with The South Indian Bank Limited.
6. Remedies: The Implementation partner acknowledges the confidential nature of Confidential Information and breach of any provision of this Agreement by the Implementation Partner will result in irreparable damage to The South Indian Bank Limited for which monetary compensation may not be adequate and agrees that, if it or any of its directors, officers or employees should engage or cause or permit any other person to engage in any act in violation of any provision hereof. The South Indian Bank Limited shall be entitled, in addition to other remedies for damages & relief as may be available to it, to an injunction or similar relief prohibiting the Implementation partner, its directors, officers etc. from engaging in any such act which constitutes or results in breach of any of the covenants of this Agreement. Any claim for relief to The South Indian Bank Limited shall include The South Indian Bank Limited’s costs and expenses of enforcement (including the attorney's fees).
7. Governing Law: The provisions of this Agreement shall be governed by the laws of India and the competent court at Thrissur shall have exclusive jurisdiction in relation thereto even though other Courts in India may also have similar jurisdictions.
8. Indemnity: The Implementation partner shall defend, indemnify and hold harmless The South Indian Bank Limited, its affiliates, subsidiaries, successors, assignees, and their respective officers, directors and employees, at all times, from and against any and all claims, demands, damages, assertions of liability whether civil, criminal, tortuous or of any nature whatsoever, arising out of or pertaining to or resulting from any breach of representations and warranties made by the Implementation partner. and/or breach of any provisions of this Agreement, including but not limited to any claim from third party pursuant to any act or omission of the Implementation partner, in the course of discharge of its obligations under this Agreement.
9. General: The South Indian Bank Limited discloses the Confidential Information without any representation or warranty, whether express, implied or otherwise, on truthfulness, accuracy, completeness, lawfulness, and merchantability, fitness for a particular purpose, title, non-infringement, or anything else.
In witness whereof, the Parties hereto have executed these presents the day, month and year first herein above written.
For and on behalf of ___________________ Ltd. For and on behalf of The South Indian Bank Limited
(Name &Designation) (Name &Designation)
(Office Seal) (Office Seal)
Corporate Financial Management Department, The South Indian Bank Limited. Page 56
Annexure-4
Check list for submission of eligibility criteria
Annexure-5
Profile of bidder/Partner
Sl.No Particulars Response
1 Company Name
2 Date of Incorporation
3 Name of Indian representative/office (indicate: own, dealer, distributor, JV)
4
Company Head Office address * Contact person(s) * Designation * Phone Number * Mobile Number * E-mail Address
5
Address of Indian representative/office * Contact person(s) * Phone Number * E-mail Address
6
Number of Employees supporting the project : * Marketing/Sales * Technical Support * Research and Development * Implementation
7
Ownership structure (e.g. Inc., partnership) * Who are the primary shareholders? * State the major shareholders with percentage holding in case of limited companies.
8 Location: Support Location – In India
9
Provide the range of services offered covering service description and different schemes available for: Customization, Implementation Support Ongoing support (AMC, Help Desk), Training Any Others (specify)
10 State pending or past litigation if any within the last year with details and explain reasons. Please also mention any claims/complaints received in the last year.
11 Enclose abstracts of the Balance sheet and P/L Account for the last year
12 Independent analyst research report (if any)
13 Major changes in Management for the last year
Sl. No. Eligibility Criteria Compliance
(Yes/ No) Proofs to be enclosed
1.
2.
Corporate Financial Management Department, The South Indian Bank Limited. Page 57
Annexure-6
Implementation methodology for all the three modules (Separately)
Sl. No. Details of methodology / approach Response
1 The methodology section should adequately address the following stages of the project:
i. Frequency and approach for periodic reporting on the progress of the project and actual status vis à vis scheduled status
ii. Detailed Study of Current State, with detailed work steps and deliverables
iii. Gap analysis including identification and resolution of gaps
iv. Customization, development and necessary work around
v. Building up of interfaces with various applications currently used by the Bank
vi. Setting up of the data center and the disaster recovery site
vii. User acceptance testing
viii. Planning for rollout and identification of key issues that may arise along with proposed solutions
2 Timelines
3 Project management activities
4 Roles and responsibilities of proposed personnel both from the vendor and bank end.
5 Following details with respect to the methodology followed by the vendor in Project Management for a Public/Private Sector Bank
i. Project Name
ii. Project Location
iii. Client Name
iv. Client address
v. Client contact/reference person(s)
vi. Project started (month/year)
vii. Project elapsed time – months
viii. Man months effort
ix. Project Size (No of branches, modules covered and any other relevant details)
x. Name of senior project staff
xi. Nature of the Project
xii. Project Management Methodology used
xiii. Role of the Bidder, whether complete end to end involvement or for a particular module
xiv. Project detail (Broad detail – information about all activities handled, modules forming part of the Project of the Client Bank, associated activities, time lines activity wise and module wise may be detailed.)
The bidders are expected to provide crisp descriptive response against each point above.
Corporate Financial Management Department, The South Indian Bank Limited. Page 58
Annexure-7
Reference Site Details
The reference sites submitted must be necessarily of those Banks where the proposed Bidder/Proposed
software solution has been awarded the contract in the last five years prior to the last date for submission of
bids at The South Indian Bank Ltd. For those references where the offered solution is accepted but
implementation is not started, the acceptance should be valid as on the last date for submission of bids at
The South Indian Bank Ltd. Please provide reference details in the format defined below:
Particulars Response
Name of the Bank/ Financial Institution
Country of Operation
Address of the Organization
Annual Turnover of the Organization for the Financial Year 2015-16
Date of commencement of Project
Date of completion of Project
Scope of Work for Solution
Partner for the project Project Start date and End date List all the modules/components of the system being used.
Type of Architecture in which the system has been implemented. Implementation details e.g. Number of Sites, time taken for Operationalization, volumes of
processing etc. State the duration of the implementation Number of users and the geographical spread of the implementation
Average Team size on site for project implementation (SI & OEM Team)
Contact Details from the Bank/Financial Institution for reference
Name of the Contact Person
Designation
Phone Number/e-mail
Corporate Financial Management Department, The South Indian Bank Limited. Page 59
Annexure-8
Past Experience
List of major customers where the proposed Integrated Corporate Financial management solution or it’s
modules have been implemented/under implementation in India/outside and their reference details
No.
Name & complete
Postal Address of the
Customer
Name &Brief scope of work done by OEM
Name & Brief scope of work
done by SI Attach
reference Letter
Contact Details (Name,
Designation, Phone, Email)
Project Status (Completed/Under Implementation, Start Date, End
Date) (Specify the size of the Bank, the
approaches supported etc.)
*In cases where SI acts as bidder, while counting the number of Banks for the purpose of assigning marks
under this parameter only the number of Banks where SI has customized the software of the OEM shall be
taken.
(Enclose necessary documentary proof such as reference letter etc.)
Corporate Financial Management Department, The South Indian Bank Limited. Page 60
Annexure-9
Team profile
A. General information
The general information on staff strength of the bidder/partner should be furnished in the following format for all the three modules separately.
Requirement Response
Current strength of employees in the bidder’s organization with experience on the proposed product(s)
Current strength of employees in the bidder’s organization with experience in similar projects
Certifications possessed by the Bidder in connection with the quality of internal processes and services delivered/ methodology used in delivery
Organization’s Competence for the Assignment:
No. of Financial Management Professionals
Proven track record and in-house technology skills for supporting software by way of Availability of Quality Certificates (ISO / SEI/ CMM etc.)
B. Specific information to be furnished in respect of each team member
Requirement Response
Name of Member on the Project Implementation Team.
Designation and Role
Area of Expertise (Subject Matter Expert)
Financial statement Preparation & Analyzing
Fixed Assets management
Role of Team Member – onsite or offsite. If onsite then no. of man days expected to spend onsite during the implementation period
Organization Name (Bidder has to specify if the member is a part of the Bidder’s organization or partner’s organization)
Professional Qualifications
Financial Management Experience with the bidding firm/OEM in terms of areas and no of years of expertise
Financial Management Experience with other companies firm in terms of areas and no of years of expertise (Mention if he/she has worked with Banks earlier)
IT Implementation and Project Management Expertise with the bidding firm/ OEM in terms of years and areas of expertise
IT Implementation and Project Management Expertise with other companies in terms of years and areas of expertise
Certifications and Accreditations including Membership of any professional body
Details of similar projects handled with details of client, representing which organization, role of the member team or team leader etc. in India and Internationally
Experience of the resource in the implementation of the Proposed solution offered.
Corporate Financial Management Department, The South Indian Bank Limited. Page 61
Annexure-10
Training
A. General Information
Particulars Response
No: of Implementation trainings have been undertaken by the Bidder/partner
A brief description on the Training approach taken by the Bidder/partner
Names and experience of all trainers with the Bidder who would be involved with the
Project
B. Specific information to be furnished in respect of each training session*
Particulars Response
Name of the Bank where product was implemented and the training conducted
Date and place where training conducted
Training Audience
Duration of Training
Location
*This information should be backed by the documentary proof in the customer-Bank’s letter head.
Corporate Financial Management Department, The South Indian Bank Limited. Page 62
Annexure-11
Cover Letter for Commercial Bid
Note: This Cover Letter for Commercial Bid from the Bidder should be on the letterhead of the Bidder and
should be signed by an authorized person.
Date:
To,
Chief Financial Officer
The South Indian Bank Ltd
Corporate Financial Management Department,
Head Office, SIB House, 2nd Floor, Mission Quarters
Thrissur, Kerala, India – 680001
Dear Sir/ Madam,
Subject: Response to RFP Ref No: CFM/001/2016
Having examined the Bidding Documents, the receipt of which is hereby duly acknowledged, we, the undersigned, offer to supply & deliver the Integrated Corporate Financial Management Solution (ICFMS), inconformity with the said Bidding documents for the sum of ...................………….. (Total amount in words and figures) or such other sums as may be ascertained in accordance with the commercial bid for software and total cost of ownership(termed as Annexure-12 and Annexure-13 in your RFP) attached herewith and made part of this Proposal.
We undertake, if our Proposal is accepted, to deliver, install and commission the system, in accordance with Requirements specified within the RFP In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable.
We agree to abide by the Proposal and the rates quoted therein for the orders awarded by the Bank.
Until a formal contract is prepared and executed, this bid, together with your written acceptance thereof and your notification of award shall constitute a binding Contract between us.
We undertake that, in competing for (and, if the award is made to us, in executing) the above contract, we will strictly observe the laws in force in India.
We understand that you are not bound to accept the lowest or any Proposal you may receive.
Dated this ....... day of ............................ 2016
(Signature)
(Name) (In the capacity of)
(Duly authorized to sign Proposal for and on behalf of)
Corporate Financial Management Department, The South Indian Bank Limited. Page 63
Annexure-12
Format for furnishing the price of Software/Hardware (Bill of Material)
A. The format for furnishing the price of software
The Bank intends to procure Perpetual/Permanent Licenses with fixed warranty/AMC. The Bank should have
the ownership and right to use these licenses without any restriction in any nature and at all geographic
locations. The bidder should also ensure that the official & authentic license definition of software solution is
provided with the Bank. If the solution provider has different licensing terms say Enterprise Wide, Named
user, Concurrent users the same has to be clearly mentioned.
Sl.No Item Description
Unit Price in
INR
Total Price in INR
Comments by
Vendor
1
License cost – (Module wise, Enterprise wide, Named Users Wise, Concurrent User Wise, Subscription Model if any-While submitting the price, vendor should ensure that the license model proposed is optimal, best suited for the banks requirements and the cost must be minimal)
2 Customization Cost – (If the software is sold in modular format, details of the cost of each module must be elaborated)
3 Implementation Cost including 3 Months Onsite Go Live Support
4 Cost of Application Programming Interface i.e., Interface Development (If Any)
5 Cost of Training (If Any)
7 Yearly Onsite Facility Management Cost(After 3 Months of Go Live Support)
8 Annual Maintenance/ support Contract charges after warranty period.
I year II year III year IV year V year
9 Charges for Data Migration to New System (If Any)
10 Any other charges such as Facility Management Service etc. not covered above. Please specify
11 Operating System software for Primary Site
12 Operating System software for DR Site
13 Database software as specified in the response bid by the vendors cum required licences, ATS if any for Primary Site(If Any)
14 Database software as specified in the response bid by the vendors cum required licenses, ATS if any for DR Site(If Any)
15 Environmental & backup software as specified in the response by the vendors cum required licenses,
Corporate Financial Management Department, The South Indian Bank Limited. Page 64
Sl.No Item Description
Unit Price in
INR
Total Price in INR
Comments by
Vendor
ATS if any for Primary Site (If Any)
16 Environmental & backup software as specified in the response by the vendors cum required licenses, ATS if any for DR Site (If Any)
17 Middleware (If Any) Give
details
18 Supporting software licenses if any required Give
details
19 Any other cost not included here. ** Give
details
TOTAL Cost of all the above
Note: Applicable taxes and Duties: Details of all applicable taxes to be paid by the Bank must be specified like sale tax, service tax etc. Applicable Duties to include customs, Excise etc. All taxes and duties to be given in Rupee value only.
B. The format for furnishing the hardware specifications*
Sl. No Item Description Details& Cost
1 Hardware Specifications (Including for both DC & DR Site – DR to be shown separately)
Servers
Operating system
Storage (SAN)
Rack with KVM switch, power supply, Network & security requirements, switches, routers, etc.
2 If supports virtual servers – Provide Details.
3 AMC & ATS Cost etc. (Till Completion of AMC Period)
Total
* In case the bidder is a SI, the hardware specification given in this part should be endorsed by OEM
whose software is proposed to be deployed by SI.
** Any other system up graduation requirements such as LAN, bandwidth etc to be part of the total cost.
The hardware proposed should have a warranty period of 3 years and should not under EOL/S earmarked.
Dated……
(Signature)
(In the capacity of)
Duly authorized to sign bid for & on behalf of
(Name & Address of the Bidder)
Corporate Financial Management Department, The South Indian Bank Limited. Page 65
Annexure-13
Table for Arriving at the Total Ownership Cost
TABLE-A: Cost of Software, Hardware, Customization, Network, Training, etc
Sl.No Item Description Unit Price Total Price Taxes / VAT if any Total payable
GRAND TOTAL (For Hardware Cost to be provided)
TABLE-B: Cost of AMC after the warranty for Software, Customization, Network, etc
S.No Item Description AMC Amount for full period after warranty (Year Wise)
Service Taxes if any Total payable
GRAND TOTAL
(Amount in INR only)
TOTAL PAYABLE IN INDIAN RUPEES AS PER TABLE A
TOTAL PAYABLE IN INDIAN RUPEES AS PER TABLE B
TOTAL BID PRICE.
Amount in words:
Dated……
(Signature)
(In the capacity of)
Duly authorized to sign bid for & on behalf of
(Name & Address of the Bidder)
Corporate Financial Management Department, The South Indian Bank Limited. Page 66
Annexure-14
Bid Submission Covering Letter
Note: This Bid Offer Covering letter should be on the letterhead of the Bidder and should be signed by an
authorized person.
Date:
To,
Chief Financial Officer
The South Indian Bank Ltd, Corporate Financial Management Department,
SIB House, Head Office, 2nd Floor, Mission Quarters, Thrissur, Kerala, India – 680001
Dear Sir/ Madam,
Subject: Response to RFP Ref No: CFM/001/2016
1. With reference to the RFP, having examined and understood the instructions, terms and conditions
forming part of the RFP.
2. We agree and undertake that, if our Bid is accepted, we shall deliver, install and commission the
Integrated Corporate Financial Management Solution and it’s modules in accordance with the
Requirements specified within the RFP within the timeframe specified, starting from the date of receipt
of notification of award from The South Indian Bank Ltd.
3. We acknowledge having received the following addenda to the bid document:
4. If our Bid is accepted, we will obtain performance guarantee of a bank for a sum equivalent to 10
percent of the Contract Price as per the terms and conditions prescribed by The South Indian Bank
Limited.
5. All the details mentioned by us are true and correct and if Bank observes any misrepresentation of facts
on any matter at any stage, Bank has the absolute right to reject the bid / proposal and disqualify us
from the selection process.
6. We confirm that the offer is in conformity with the terms and conditions as mentioned in RFP and it
shall remain valid for 90 days from the last date of the acceptance of this bid.
7. We undertake that, in competing for (and, if the award is made to us, in executing) the above contract,
we will strictly observe the laws in force in India.
8. We are also aware that The South Indian Bank has also right to re-issue / recommence the bid, to which
we do not have right to object and have no reservation in this regard; the decision of The South Indian
Bank in this regard shall be final, conclusive and binding upon us.
Addendum No. Dated
Corporate Financial Management Department, The South Indian Bank Limited. Page 67
9. We confirm that our company/system integrator/other partners participating in this bidding as part of
the consortium have not been black listed/banned by a regulatory authority and any previous ban is not
in force at present.
10. We enclose a Demand Draft /Bankers' Cheque bearing No……………. dated ……/ …../2016 drawn by
……….. Bank, branch, in favour of The South Indian Bank, payable at Thrissur for a sum of Rs
10,000/.(Rupees Ten thousand only) towards non-refundable Bid Submission fee.
OR
We confirm that the UTR number for the remittance of non-refundable Bid Submission fee of Rs.
10000/.(Rupees Ten thousand only) is …………………….
Dated this ....... day of ............................ 2016
Yours faithfully,
(Signature)
(In the capacity of)
Duly authorized to sign bid for & on behalf of
(Name & Address of the Bidder)
Corporate Financial Management Department, The South Indian Bank Limited. Page 68
Annexure-15
Notification of Acceptance
(On Organization’s letter head)
Place:
Date:
To
Chief Financial Officer
The South Indian Bank Ltd
Corporate Financial Management Department,
Head Office, SIB House,
2nd Floor, Mission Quarters
Thrissur, Kerala,
India – 680001
Dear Sir,
SUB: RFP No CFM/ RFP /001/2016Dated 08.08.2016
REF: Your Letter No: - _________________ Dated ________________.
This has reference to your letter on the subject, notifying us about the selection of our bid.
We hereby convey our absolute, unconditional and unqualified acceptance for the work and activities as per
the Scope of Work and other terms and conditions mentioned in the subject RFP.
Signature of Authorized Person
(Seal)
Corporate Financial Management Department, The South Indian Bank Limited. Page 69
Annexure-16
Specimen Contract Form
THIS AGREEMENT (the Agreement) made at…………………the………day of ……………………. 2016.
BETWEEN
The South Indian Bank Limited a company registered under the Companies Act, 1956 (1 of1956) and a
Banking company within the meaning of SECTION 5(c) of the Banking Regulation Act, 1949 (10 of 1949) and
having its registered office at The South Indian Bank Limited, SIB House, Mission Quarters, Thrissur – 680 001
(hereinafter called “The South Indian Bank Limited / Purchaser ” which expression shall unless it be repugnant
to the subject, context or meaning thereof shall be deemed to mean and include its successors and assigns) of
the ONE PART
AND
……………. (Name of successful Bidder) of …………………… (Please specify the registered office of the
(Implementation partner) (hereinafter called “the Implementation partner which expression shall unless it be
repugnant to the subject, context or meaning thereof shall be deemed to mean and include its successors) of
the OTHER PART.
The Purchaser and Implementation partner are hereinafter collectively referred to as "Parties".
WHEREAS the Purchaser invited bids for certain Services namely ‘Implementation of Integrated Corporate
Financial Management Solution (ICFMS) In accordance with the Best Practices and Guidelines of
RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules,
regulations, directions as applicable.’
AND WHEREAS the purchaser has accepted a bid by the Implementation partner for rendering of the Services
for the sum of ………………………(Contract Price in Words and Figures) (hereinafter called “the Contract Price”).
NOW THIS AGREEEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO
AS FOLLOWS
In consideration of the payments to be made by the South Indian Bank Limited to the Implementation partner
as hereinabove mentioned, the Implementation partner hereby agrees with the Purchaser to provide or
render the Services, to furnish necessary undertakings, etc. as mentioned in the RFP documents, this
Agreement (hereinafter collectively referred to as “the said documents”) strictly in conformity in all respects
with the provisions of the said documents
(1) In this Agreement words and expressions shall have the same meanings as are respectively assigned to
them in the terms and conditions of RFP / Contract / Agreement referred to.
(2) The RFP Document titled_________________________ shall be deemed to form and be read and
construed as part of this Agreement, which, inter alia, includes
Corporate Financial Management Department, The South Indian Bank Limited. Page 70
a. Scope of Work
b. Objective of RFP document
c. Eligibility Criteria
d. Functional and Technical requirements
e. Payment terms
f. Submission of bids
(All the above are collectively referred to as "the said documents")
(3) The Purchaser hereby agrees and covenants to pay the Implementation partner in consideration of the
rendering of the Services and the remedying of defects, if any therein, etc., the Contract price as may
become payable under the provisions of the said documents at the times and in the manner prescribed
by the said documents
(4) The Implementation partner shall provide the services and documents and records as per the scope of
the service / work as contained in the said documents
(5) All applicable taxes shall be deducted by the South Indian Bank Limited at source according to the tax
rate prevalent at the time of making payment.
(6) The Contract price quoted by the implementation partner in Bid shall be finalized and inclusive of all
duties, service tax ,levies, other taxes, traveling expenses , lodging /boarding, local conveyance or any
other expenses of whatsoever nature for the said service.
(7) In order to induce The South Indian Bank Limited to enter into the Contract/Agreement, the
Implementation partner hereby make following representations
a. It is duly organized and validly existing organization under Indian Laws.
b. It has power and authority to execute and deliver this Agreement/Contract and has taken all necessary steps to authorize execution, delivery and performance of this Agreement/Contract
c. It has power and authority to do all things necessary and appropriate and to perform Services contemplated under this Agreement/Contract
d. Neither the execution and delivery by the Implementation partner of the Contract/Agreement nor the Implementation partner's compliance with or performance of the terms and provisions of the Contract/Agreement (i) will contravene any provision of any applicable law or any order, writ, injunction or decree of any court or governmental authority binding on the Implementation partner (ii) will conflict or be inconsistent with or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under any agreement, contract or instrument to which the Implementation partner is a party or by which it or any of its property or assets is bound or to which it may be subject or (iii) will violate any provision of the Memorandum and Articles of Association/ partnership deed of the Implementation partner
e. Has made or shall make all necessary arrangement for performance of the services. In case of failure on the part of Implementation partner to provide any part of services as mentioned The South Indian Bank Limited has a right not to pay for such particular part of services
f. That the Implementation partner is a company/ partnership firm which has the requisite qualifications, skills, experience and expertise to give service to third parties
g. That Implementation partner possesses the technical know-how, the financial wherewithal, the power and the authority to enter into the Contract /Agreement.
h. That the Implementation partner is not involved in any litigation, potential, threatened and existing,
Corporate Financial Management Department, The South Indian Bank Limited. Page 71
that may have an impact of affecting or compromising the performance of Service under the Contract/Agreement. No inquiries or investigations have been threatened, commenced or pending against the Implementation partner or its team members by any statutory or regulatory or investigative agencies.
i. That the representations made by the Implementation partner in its bid are and shall continue to remain true and fulfill all the requirements as are necessary for executing the duties, obligations and responsibilities as laid down in the Contract/Agreement and the Bid Documents and unless The South Indian Bank Limited specifies to the contrary, the Implementation partner shall be bound by all the terms of the bid
j. That the Implementation partner has the professional skills, personnel and resources/authorizations that are necessary for giving the Service or to perform its obligations under the bid.
k. That the execution of the Service herein is and shall be in accordance and in compliance with all applicable laws
l. That all conditions precedent under the Contract/Agreement / bid document have been complied.
m. That the Implementation partner certifies that all registrations, recordings, filings and notarizations of the Contract/Agreement and all payments of any tax or duty, registration charges or similar amounts which are required to be effected or made by the Implementation partner which is necessary to ensure the legality, validity, enforceability or admissibility in evidence of the Contract/Agreement have been made.
n. That the Implementation Partner confirms that there has not and shall not occur any execution, amendment or modification of any agreement/contract without the prior written consent of The South Indian Bank Limited , which may directly or indirectly have a bearing on the Contract/Agreement
(8) Indemnity
Implementation partner shall indemnify and keep The South Indian Bank Limited harmless and
indemnified from and against all claims, liabilities, losses and incurred costs, fines, penalties, expenses,
taxes, assessment, punitive damages, fees (including advocate’s/ attorney’s fee), liabilities, judgments,
awards, assessments, obligations, damages, etc., which The South Indian Bank Limited may suffer or
incur arising out of, or in connection with:
a) Any act, neglect, default or omission on the part of the Implementation partner, its subsidiaries or any person associated with the Implementation partner, including but not limited to liabilities arising from noncompliance of Standards and Regulations prescribed by regulator, from time to time, unauthorized use or disclosure of Confidential Information and failure to comply with data protection as prescribed from time to time;
b) Any breach by the Implementation partner of the terms and conditions of its engagement or its obligations under the said documents;
c) Any breach by the Implementation partner of its obligations under any Law(s) or contract, etc;
d) Default or omission on the part of the Implementation partner to follow statutory instructions and guidelines issued by the Government of India and any other governmental authority.
In the event of a third party bringing a claim or action against The South Indian Bank, as a consequence
of the implementation or use of the software or solution provided by the Implementation partner, the
Corporate Financial Management Department, The South Indian Bank Limited. Page 72
Implementation partner shall defend and / or assist The South Indian Bank Limited in defending, at the
Implementation partner cost, such claims or actions, either in a legal proceeding or otherwise;
(9) Termination of Agreement /Contract
The South Indian Bank Limited may terminate this Agreement/Contract for any breach of the terms and
conditions of this Agreement/Contract / bid by giving 15 days’ notice to the Implementation partner
requiring it to make good the default(s) within notice period.
Termination of this Agreement/Contract shall not affect or prejudice any provisions of this
Agreement/Contract, which are expressly or by implication provided to continue in effect after such
termination
Without prejudice to the right to effect the penalty conditions mentioned within Service Level
Agreement mentioned within the said documents, The South Indian Bank Limited may impose penalty, if
there is any delay in the implementation of the project due to implementation partner’s fault in
complying with time schedule specified in this contract. The penalty shall be levied at 1% on the total
project implementation cost to the bidder for each week of delay. This penalty will be subject to an
upper limit of 10% on the total project implementation cost. Thereafter the order/contract may be
cancelled and amount paid if any, may be recovered with 1.25% interest per month. If the delay exceeds
six weeks, The South Indian Bank limited reserves the right to terminate the services Agreement
unconditionally.
(10) Notices
All notices in connection with this Agreement/Contract, shall be given in writing hand delivered or sent
by courier or by facsimile transmission, confirmed by courier to the address or fax number specified
below, or to such other address or number which the parties may have last specified. All such notices
shall be effective upon receipt to;
Chief Financial Officer
The South Indian Bank Ltd
Corporate Financial Management Department,
Head Office, SIB House, II Floor, Mission Quarters,
Thrissur, Kerala, India – 680001.
Implementation Partner,
Address.
Either of the parties hereto may by notice change the address to which such notices and communication
are to be delivered or transmitted
(11) Compliance with RBI and other Regulatory Requirements
The Implementation partner shall individually obtain the necessary regulatory approvals from the RBI or
Corporate Financial Management Department, The South Indian Bank Limited. Page 73
other regulatory bodies, if any required, for the Contract .Any demand for information regarding any of
the matters to the extent mutually agreeable under this Agreement called for by the RBI or any other
regulatory body shall be promptly responded to by the concerned Party. The Implementation Partner
undertakes to comply all the statutory and regulatory requirements under the applicable laws in
connection with Service including Labor and Industrial Laws. In the event of any default by the
Implementation partner which results in any actionable claim against The South Indian Bank Limited, the
Implementation partners shall keep The South Indian Bank Limited indemnified against all such claims
and actions.
(12) Governing Law
The provisions of this Agreement shall be governed by the laws of India and the competent court at
Thrissur shall have exclusive jurisdiction in relation thereto even though other Courts in India may also
have similar jurisdictions.
(13) Headings
The heading of various Articles and Sections herein are for convenience of reference and are not deemed
to affect the construction of the relative provisions
(14) Effective date and validity
This Agreement/Contract shall become binding on the parties on and from ____________. It shall be in
force until its termination or _____________________, whichever is earlier
(15) Force Majeure
If the performance as specified in this Contract/Agreement is prevented, restricted, delayed or interfered
by reason of: Fire, explosion, cyclone, floods, war, revolution, acts of public enemies, blockage or
embargo, any law, order, proclamation, ordinance demand or requirements of any Government or
authority or representative of any such Government or regulations , strikes, shutdowns or labor disputes
which are not instigated for the purpose of avoiding obligations herein, then, notwithstanding anything
here before contained, the party affected shall be excused from its performance to the extent such
performance relates to prevention, restriction, delay or interference and provided the party so affected
uses its best efforts to remove such cause of non- performance and when removed the party shall
continue performance with utmost dispatch
If a Force Majeure situation arises, the Implementation partner shall promptly notify The South Indian
Bank Limited in writing of such conditions and the cause thereof. Unless otherwise directed by The
South Indian Bank Limited in writing, the Implementation partner shall continue to perform its
obligations under the Contract/Agreement as far as is reasonably practical and shall seek all reasonable
alternative means for performance not prevented by the Force Majeure event. The South Indian Bank
Limited may terminate the Contract/Agreement, by giving a written notice of minimum 15 days to the
Implementation partner, if as a result of Force Majeure the Implementation partner is unable to perform
a material portion of the work assigned to him for a period of more than 30 days.
Corporate Financial Management Department, The South Indian Bank Limited. Page 74
IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be executed on the day, month and
year first above written.
Signed and Delivered by
The within named
The South Indian Bank Limited/ Purchaser
Signature:
Name
Date: - ….......................
IN THE PRESENCE OF
1. Signature : 2. Signature :
Name : Name :
Address : Address :
Signed and Delivered by ......... .........................
the within named
Implementation Partner
M/s. ..................................
............................................
Date :- .............................
IN THE PRESENCE OF :
1. Signature : 2. Signature :
Name : Name :
Address : Address :
Corporate Financial Management Department, The South Indian Bank Limited. Page 75
Annexure-17
Performance Bank Guarantee Format
Bank Guarantee No. : Bank Guarantee Amount : Expiry Date : Claim Period : Account :
GUARANTEE FOR PERFORMANCE OF CONTRACT/AGREEMENT
THIS GUARANTEE AGREEMENT executed at ________ day of_____________, 2016
BY :
______________________ bank, a body corporate constituted under _______________, having its Registered Office/ Head Office at ______________, and a Branch Office at_____________________________________________________ (hereinafter referred to as “the Guarantor”, which expression shall, unless it be repugnant to the subject, meaning or context thereof, be deemed to mean and include its successors and assigns)
IN FAVOUR OF:
The South Indian Bank Limited, a banking company, established under the Companies Act 1956 and having its Registered Office at SIB House, Mission Quarters, Thrissur, Kerala – 680001 (hereinafter referred to as “Bank” which expression shall unless it be repugnant to the subject, meaning or context thereof, be deemed to mean and include its successors and assigns),
WHEREAS Bank had called for the bids for engagement of implementation partner who can implement Integrated Corporate Financial Management Software solution in the Bank In accordance with the Best Practices and Guidelines of RBI/Companies Act 2013/Income Tax Act 1961/IND-AS/SEBI Guidelines and other relevant Acts, rules, regulations, directions as applicable(the “Project”)
AND WHEREAS
M/s……………………… have been appointed as the Implementation partner (hereinafter referred to as " Implementation partner") for the said Project and accordingly has entered into Contract / Agreement on ……….. (Agreement) with Bank subject to the terms and conditions contained in the said documents (defined herein below) and the Implementation partner has duly confirmed the same.
AND WHEREAS pursuant to the Bid Documents, the Agreement, and the other related documents (hereinafter collectively referred to as “the said documents”), the Bank has agreed to avail from M/s……………………. and M/s……………………………. has agreed to provide to the Bank, the Services more particularly described in the said documents (hereinafter collectively referred to as “the Services”), subject to payment of the contract price as stated in the said documents and also subject to the terms, conditions, covenants, provisions and stipulations contained the said documents.
AND WHEREAS the Implementation partner has duly signed the said documents.
AND WHEREAS in terms of the said documents, inter alia, the Implementation partner is required to procure an unconditional and irrevocable performance Bank guarantee, in favour of the Bank, from a bank acceptable to the Bank for a sum of Rs………………………………… (Rupees…………………………………………………….. Only) being 10% of the total contract value for the faithful observance and performance by the
Corporate Financial Management Department, The South Indian Bank Limited. Page 76
Implementation partner of the terms, conditions, covenants, stipulations, provisions of the Agreement /the said documents.
AND WHEREAS at the request of the Implementation partner, the Guarantor has agreed to issue the guarantee in favour of the Bank for a sum of Rs………………………. (Rupees…………………………………………..Only) being the 10% of the total Contract value
AND WHEREAS at the request of the Implementation partner, the Guarantor has agreed to guarantee the Bank that the Implementation partner shall faithfully observe and perform the terms of the said documents
NOW THEREFORE THIS AGREEMENT WITNESSETH AS FOLLOWS:
In consideration of the above premises, the Guarantor hereby unconditionally, absolutely and irrevocably guarantees to the Bank as follows:
(1) The Guarantor hereby agree and guarantee that the Implementation partner shall faithfully observe and perform all the terms and conditions stipulated in the Contract/Agreement and the said documents.
(2) The Guarantor hereby guarantees and undertakes to pay, on demand and without demur, reservation, contest, recourse or protest or without any reference to the Implementation partner, to the Bank at its office at Thrissur forthwith, and all monies payable by the Implementation partner to the extent of Rs.………………………………… against any loss, costs, damages, etc. suffered by the Bank on account of default of the Implementation partner in the faithful observance and performance of the terms, conditions, covenants, stipulations, provisions of the said documents. Any such demand or claim made by the Bank, to the Guarantor shall be final, conclusive and binding notwithstanding any difference or any dispute between the Bank and the Implementation partner or any dispute between the Bank and the Implementation partner pending before any Court, Tribunal, Arbitrator, or any other authority.
(3) The Guarantor agrees and undertakes not to revoke this Guarantee during the currency of these presents, without the previous written consent of the Bank and further agrees that the Guarantee herein contained shall continue to be enforceable until and unless it is discharged earlier by the Bank, in writing.
(4) The Bank shall be the sole judge to decide whether the Implementation partner has failed to perform the terms of the said documents for providing the Services by the Implementation partner to the Bank, and on account of the said failure what amount has become payable by the Implementation partner to the Bank under this Guarantee. The decision of the Bank in this behalf shall be final, conclusive and binding on the Guarantor and the Guarantor shall not be entitled to demand the Bank to establish its claim under this Guarantee but shall pay the sums demanded without any objection, whatsoever.
(5) To give effect to this guarantee, the Guarantor will be deemed to be the Principal Debtor to the Bank.
(6) The liability of the Guarantor, under this Guarantee shall not be affected by
(a) Any change in the constitution or winding up of the Implementation partner or any absorption, merger or
(b) Amalgamation of the Implementation partner with any other company, corporation or concern; or
(c) Any change in the management of the Implementation partner or takeover of the management of the Implementation partner by the Government or by any other authority; or
(d) Acquisition or rationalization of the Implementation partner and/or of any of its undertaking(s) pursuant to any law; or
(e) Any change in the constitution of Bank / Implementation partner; or
(f) Any change in the setup of the Guarantor which may be by way of change in the constitution,
Corporate Financial Management Department, The South Indian Bank Limited. Page 77
(g) Winding up, voluntary or otherwise, absorption, merger or amalgamation or otherwise; or the absence or deficiency of powers on the part of the Guarantor to give Guarantees and/or Indemnities or any irregularity in the exercise of such powers.
(7) This Bank guarantee shall be valid for 8 years from the date of signing the contract.
(8) Notwithstanding anything contained in this Guarantee, the Guarantor hereby agrees and undertakes to extend the validity period of this guarantee for a further period as may be requested by the Bank, from time to time.
(9) This guarantee shall be binding upon us and successors -in - interest and shall be irrevocable.
(10) For all purposes connected with this Guarantee and in respect of all disputes and differences under or in respect of these presents or arising there from the courts of Thrissur where the Bank has its Registered Office shall alone have jurisdiction to the exclusion of all other courts.
(11) Notwithstanding anything contained herein above
I. Our liability under this Bank Guarantee shall not exceed Rs………………………………. (Rupees ……………………….. only)
III. This Bank Guarantee shall be valid up to………………………….
IV. We are liable to pay the guaranteed amount or any part thereof under this Bank Guarantee only and only if you serve on us a written claim or demand on or before ……………………………..…
IN WITNESS WHEREOF the Guarantor has caused these presents to be executed on the day, month and year first herein above written as hereinafter appearing.
SIGNED AND DELIVERED BY
The within named Guarantor,
________________________________,
by the hand of Shri.____________________, its authorized official.