July 24, 2017
Bid Summary
< No. KARI‐2017‐0544>
Korea Aerospace Research Institute (KARI) invites a public tender from eligible Bidders for procurement of
Cryogenic Globe Valves.
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 Cryogenic Globe Valves
‐ Contract Period: 12 Weeks after Receipt of Order
‐ Estimated Budget: EUR 24,926.00
‐ Method of Contract: A Competitive Bid
‐ Delivery Rule: EXW Contractor’s site (INCOTERMS 2010)
‐ Warranty Period: 1 Year after the Delivery of Items
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 one (1) set of Proposal (Quotation, Technical Specification 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.
The Quotation shall be sealed separately. A deputy shall submit the power of attorney and a copy of his
identification.
‐ Bid Currency : EURO (However, other currency can be allowed.)
‐ Bid closing Date and Time: August 1, 2017 14:00 Korean Local Time
4. Bid Bond
‐ Bidder shall establish a Bid Bond in favor of KARI before the Bid Closing Date and Time.
‐ The total amount of the Bid Bond shall be at least five percent (5%) of total bid value and shall be valid until
the end of August, 2017.
‐ The Bid Bond shall be in the form of a surety bond issued by the Seoul Guarantee Insurance Company, in
the form of an irrevocable standby letter of credit or bank guarantee by first class international bank, cash
or other means of gurantee acceptable to KARI. In case of surety bond, it shall be advised through “the
Seoul Guarantee Insurance Company”. In case of cash, bank guarantee, or the irrevocable standby letter of
credit, it shall be advised through “Woori Bank” (Daejeon Branch at 29 Munye‐ro, Seo‐gu, Daejeon, 35241
Korea, Tel:+82‐42‐488‐9704, Ext.312, Fax:+82‐505‐003‐0759). 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, 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 EURO but other currency could be accepted.
5. Nullification of Bids
‐ This bidding may be nullified in accordance with Article 39(4) of ENFORCEMENT DECREE OF THE ACT ON
CONTRACTS TO WHICH THE STATE IS A PARTY and Article 44 of ENFORCEMENT RULE OF THE ACT ON
CONTRACTS TO WHICH THE STATE IS A PARTY.
6. Selection of Successful Bidder
‐ If Bidder expresses other currency other than EURO, then for the conversion of exchange rate, the 1
st basic
exchange rate of KEB Hana Bank on the Bid closing date shall be applied for and Successful Bidder will be
selected by the lowest bid price within the estimated budget mentioned above among the bidders to meet
the Technical Requirements as attached.
‐ In case of equal price, a Successful Bidder shall be determined by means of drawing lots.
7. Remarks
‐ The Bidder shall have a full understanding of all matters necessary for this Bidding prior to making a bid
and shall be responsible for any and all disadvantages arising from insufficient understanding of matters
necessary for this Bidding.
‐ Bidder shall prepare the Proposal in truth. In case that any content of the Proposal is founded to be false
later, KARI may terminate or cancel the Contract even after the Contract is concluded.
‐ All documents submitted in response to this Bid Notice including the Proposal for this Bidding shall not be
returned.
‐ All expenses incurred by Bidder in connection with its Proposal for this Bidding are for its own account.
‐ If any Bidder is bankrupted or insolvent as of the date of this Bid Notice, such Bidder shall not be allowed
to participate in this Bidding.
‐ Bidders are required to keep confidential any data and information acquired in the Contract award. If any
Bidder violates it, such Bidder may assume civil and criminal liability, sanction for inappropriate business
entity, and other disadvantages (such as penalty for security violation, subtraction of evaluation scores in
future biddings, etc.).
‐ This Bidding and Contract shall be construed in accordance with and governed by the laws of the Republic
of Korea.
8. Main terms and conditions
‐ Payment : In accordance with payment milestone (i.e, EDC, delivery of Items, etc.)
‐ Delivery Rule: EXW Contractor’s site (INCOTERMS 2010)
‐ Warranty Period: 1 Year after the Delivery of Items
‐ Performance Bond : ten percent (10%) of Contract Price
‐ Deliverables : Cryogenic Globe Valves and documents (i.e, Certificate of Conformity, LN2 Test Results, Leak
Test Results, Manual)
‐ Liquidated Damages : Liquidated damages to be applied for late delivery is zero point one five percent
(0.15%) of Contract Price per day, up to ten percent (10%) of Contract Price.
9. Specifications
‐ Please refer to the Technical Requirements as attached.
10. Point of Contact
Contractual matters
Technical matters
Procurement Team
Korea Aerospace Research Institute
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)
Space Test Division
Korea Aerospace Research Institute (KARI)
169‐84 Gwahak‐ro, Yuseong‐gu
Daejeon, 34133 Korea
Tel : 82‐42‐870‐3728
Fax : N/A
e‐mail : markzero@kari.re.kr (Mr. Kyung‐Keun Kim)
