Quotation Are Invited For Provision Of Financial Services

Tenders are invited for Provision of Financial Services A. SCOPE OF WORK Interested bidders are required to submit a comprehensive technical bid that demonstrates their capability to meet the following scope of work: 1. Cash Payments: Execute cash payments to individuals as directed by Iraq Venture Partners (IVP) and Innovest ME DMCC. 2. Transfer Accuracy: Ensure the transfer of exact amounts as predetermined by IVP and Innovest ME DMCC to specified beneficiaries, adhering to a mutually agreed-upon schedule and distribution area. 3. Fee Structure Proposals: Propose a fee structure for transactions, which may be a flat rate or a percentage per transaction. Fee rates can vary by city or country and must be clearly outlined in the bid. 4. Liability and Notification: Agree to indemnify IVP and Innovest ME DMCC against any claims related to cash losses, including robbery and local authority taxation during transfer or distribution. Provide written notice within 48 hours of any incidents and inform of any delays in delivery 24 hours before the scheduled distribution. 5. Risk and Loss Management: Accept all risks associated with money in transit upon receipt of the Payment Request from IVP and Innovest ME DMCC until disbursement to recipients. This includes: a. Taking responsibility for losses from counterfeit notes and reimbursing recipients for such losses. b. Providing adequate personnel, security, logistics, and communication during transit and disbursement to ensure timely and secure delivery of cash. 6. Inclusive Overheads: Include all overhead costs, such as taxes related to the service agreement, within the proposed transfer commission fee. 7. Verification and Documentation: Provide Means of Verification (MOV) post cash distribution, including disbursement receipts and invoices (both soft and hard copies). Proof of delivery must include a signed receipt with the beneficiarys government-issued ID number A. SCOPE OF WORK Interested bidders are required to submit a comprehensive technical bid that demonstrates their capability to meet the following scope of work: 1. Cash Payments: Execute cash payments to individuals as directed by Iraq Venture Partners (IVP) and Innovest ME DMCC. 2. Transfer Accuracy: Ensure the transfer of exact amounts as predetermined by IVP and Innovest ME DMCC to specified beneficiaries, adhering to a mutually agreed-upon schedule and distribution area. 3. Fee Structure Proposals: Propose a fee structure for transactions, which may be a flat rate or a percentage per transaction. Fee rates can vary by city or country and must be clearly outlined in the bid. 4. Liability and Notification: Agree to indemnify IVP and Innovest ME DMCC against any claims related to cash losses, including robbery and local authority taxation during transfer or distribution. Provide written notice within 48 hours of any incidents and inform of any delays in delivery 24 hours before the scheduled distribution. 5. Risk and Loss Management: Accept all risks associated with money in transit upon receipt of the Payment Request from IVP and Innovest ME DMCC until disbursement to recipients. This includes: a. Taking responsibility for losses from counterfeit notes and reimbursing recipients for such losses. b. Providing adequate personnel, security, logistics, and communication during transit and disbursement to ensure timely and secure delivery of cash. 6. Inclusive Overheads: Include all overhead costs, such as taxes related to the service agreement, within the proposed transfer commission fee. 7. Verification and Documentation: Provide Means of Verification (MOV) post cash distribution, including disbursement receipts and invoices (both soft and hard copies). Proof of delivery must include a signed receipt with the beneficiarys government-issued ID number RFQ Release Date: 25 January 2024 Quotation are invited for roposal Submission Deadline: 4 February 2024 Question/ Inquiry Submission Deadline: 31 January 2024 Tender Link : http://www.iraq-businessnews.com/tenders/