November 3, 2015 

 

Bid Summary 

< RFP No. KARI-2015-0510> 

 

Korea Aerospace Research Institute (KARI) invites a public tender from eligible Bidders for 
procurement of Invar 3.0 and 5.0. 

The following is an outline of the requirements, so potential Bidders are requested to carefully review 
the following instructions and to submit their Proposals in accordance with the guidelines and 
requirements as contained in the Bid Summary.   

 

1. Main Scope 

. Item: Procurement of Invar Plate 

. Contract Period: 40 days from the Effective Date of Contract 

. Estimated Budget: USD 75,375.00 

. Method of Contract: a competitive bid 

 

2. Qualification of Bidders 

. Bidder shall be qualified for Article 12. Requirements to Participate in Competitive Tender by law, 

hereinafter referred to as “ENFORCEMENT DECREE OF THE ACT ON CONTRACTS TO WHICH 
THE STATE IS A PARTY”. 

 

3. Submission of Proposal 

. The proposal and Bid bond shall be hand-carried or sent via appropriate express courier to KARI 

personnel or his designee within the Bid Closing Date and Time. A deputy shall submit the power of 
attorney and a copy of his identification. 

. The main Bid currency is USD but other currency could be accepted. 

. The proposal shall be made in English or Korean 

. Bid closing Date and Time: November 17, 2015 14:00 Korean Local Time 

 

 

4. Bid Bond 

. Bidder shall establish a bid bond in favor of KARI before the Bid Closing Date. 

. The total amount of the bid bond shall be at least five (5) percent of total bid value and shall be valid 

for at least one (1) month. 

. The Bid Bond shall be issued by the Seoul Guarantee Insurance Company in the form of a surety 

bond or by first class international bank in the form of an irrevocable letter of credit and advised 
through “Woori Bank” (Daejeon Branch at 29 Munye-ro, Seo-gu, Daejeon, 35241 Korea, Tel:+82-42-
488-9704, Ext.312). The bond shall be available by KARI’s request on the Seoul Guarantee 
Insurance Company or by KARI’s draft at sight drawn on the bank, accompanied by the statement of 
KARI stating that Bidder has refused to enter into a Contract with the terms and conditions in the 
proposal as amended, if any, that Bidder has hindered the fair bidding by fraud or mispresentation, 
or that Bidder has withdrawn its Proposal after the Bid Closing Date. 

. All of the Bid Bonds will be released promptly at the time of Contract award by KARI without interest. 

. The currency of bid bond is USD but other currency could be accepted. 

 

5. Acceptance/Rejection of Bids 

. KARI reserves the right to accept or reject any Bidding, and to amend the Bidding process and reject 

all Bidding at any time prior to the award of the Contract without thereby incurring any liability to the 
affected Bidder(s), nor is KARI under any obligation to inform the affected Bidder(s) of the ground for 
its action. 

 

6. Selection of Successful Bidder 

. Currency shall be applied to the first Exchange Rate of Korea Exchange Bank on the closing date, 

and a Successful Bidder will be selected by lowest bid price. 

. In case of equal price, a Successful Bidder shall be determined by means of drawing lots. 

 

7. Notice 

. All elements of the proposal shall be kept confidential, and shall not be intentionally disclosed by 

Bidder to any Third Party. 

. All documents submitted shall become the property of KARI and will be retained by KARI. 

. Expenses incurred by Bidder in connection with the preparation, submission, and any subsequent 

clarification are for its own account and will not be reimbursed by KARI. 

 

8. Main terms and conditions 

. Payment: T/T net 30 days after delivery 

. Delivery: EXW Contractor’s facility (INCOTERMS 2010) 

. Final Acceptance: after incoming inspection 

. Warranty : one (1) year after delivery of Item 

. Performance bond: ten (10) percent of total Contract Price 

. Liquidated damages: On the late delivery, it shall be applied at the rate of zero point one five percent 

(0.15%) of total Contract Price per day, up to ten (10) percent of total Contract Price. 

 

9. Specifications 

. Please refer to the attached Commodity Description 

 

10. Point of Contact 

 

 

Contractual matters 

Technical matters 

Procurement Team 
Korea Aerospace Research Institute (KARI) 
169-84 Gwahak-ro, Yuseong-Gu,   
Daejeon 34133, Korea 
Tel : +82-42-860-2406, Fax : +82-42-860-2666 
E-mail : wsl@kari.re.kr (Mr. Won-Suk LEE) 

Payload Optics Team   
Korea Aerospace Research Institute (KARI) 
169-84 Gwahak-ro, Yuseong-Gu 
Daejeon, 34133, Korea 
Tel : 82-42-860-2675 
E-mail : wblee@kari.re.kr (Mr. Won-Beom LEE)