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RFC/GAD/PG/1058

RAJASTHAN FINANCIAL CORPORATION
(GAD SECTION)

UDYOG BHAWAN
TILAK MARG
JAPUR-302 005

Ref.No RFC/GAD/13(19)171/124������������������ ���������������������Dated : 29th May,004

CIRCULAR

Reg : Purchase of stores and delegation of powers for financial expenditure.

The matter regarding captioned subject was placed before the Board of Directors in its Meeting held on 17.5.2004.

As per approval of the Board of Directors, in supercession of the PG Circular No. 658/96 Dated 9.5.1996 a new chapter is added in the Procedure & Guidelines in the GAD section outlining the �Procedure for Purchases of Stores and Delegation of Powers for Financial expenditure�. This chapter will replace the existing Chapter No. GAD-5 of PG.

NECESSITY/NEED OF PURCHASING THE EQUIPMENTS.

The Section/Field Office initiating the requirement of a particular equipment/store article would send their requisitions duly approved by the Competent Authority to the GAD section at Head Office.� The requisition for purchase of the equipment should have specifically laid down requirement and technical specification of the Equipment.

GAD Section will initiate the purchase procedure only after receiving the requisitions duly approved by the competent authority.

The purchases exceeding Rs. 2.00 lacs would necessarily require floating of the tenders.� Purchases less than Rs. 2.00 lacs can be made by way of calling short tenders/quotations from the Company, Authorised Dealers, Reputed Suppliers.

DELEGATION OF FINANCIAL POWERS

The delegation of powers for expenses to be incurred by individual Officers in GAD section shall be as under :-

S.NO.� �Officer �Expenses at a time� Expenses per month

1.� DGM(GAD)� Rs. 2000/-�� Rs. 20000/-
2.� MGR/DM(GAD) Rs.�� 500/- Rs.� 2000/-

URGENT REQUIREMENT OF STATIONERY AND OTHER ITEMS

The urgently required stationery and other items shall be purchased by calling quotations from the reputed suppliers/dealers at a time as per the powers delegated below :-

Chairman & Managing Director� Upto Rs. 30000/-
Executive Director� Upto Rs. 20000/-
General Manager (GAD)� Upto Rs. 10000/-

Manager/DM(GAD) shall be authorized to make purchases upto Rs. 5000/- per month for caretaking/cleaning material which are required for regular cleaning of office building.

�REPAIRS OF VEHICLES :-

The powers regarding repairs of the vehicles, purchases of batteries, tyres, accessories, petrol, servicing etc. shall vest in General Manager (GAD).� However, in case the expenses for repairs of vehicles exceed Rs. 20000/- the same shall be considered by Committee consisting of GM(GAD), Manager (Tech.), Manager/DM(GAD).� The Executive Director will approve the same on the recommendations of the Committee.

All payments regarding Rent, Electricity Bill, Water Bill, Land & Building Tax, Municipal Tax, Contribution to UBCF, Telephone Bills etc. shall be made at the level of DGM(GAD).� However, any variation shall be got approved from the Competent Ahority.

COMMITTEE(S) TO PROCESS THE EXPENSES

I.��������� The following committee shall process the expenses upto Rs. 30000/-.� The Executive Director will approve the expenses on recommendations of this committee.

1. GM(A/cs.) Chairman
2. DGM(GAD) Member
3. DGM(P&A) Member
4. DM(GAD)� Convenor

II.������� The following committee is considered to process the expenses more than Rs. 30000/- but upto Rs. 7.00 lacs and the CMD will approve the same on the recommendations of the Committee.

1. General Manager (F) Chairman
2. DGM(GAD) Member
3. DGM(P&A) Member
4. DM(GAD)� Convenor

III.������ The Competent authority for approving the expenses of the order more than Rs. 7.00 lacs but upto Rs. 20.00 lacs would be the Executive Committee of the Corporation.

IV.������ The Board of the Corporation would be the competent authority for approving the expenses of the order beyond Rs. 20.00 lacs.

The specific terms and conditions may vary on case to case basis but the following aspects need to be covered for every

order by the committee(s), formed as above, before making any recommendation before the Competent Authority for approval.

*��������� Technical specifications
*��������� Warranty Period
*��������� Delivery Period
*��������� Maintenance
*��������� Payment Schedules
*��������� After Sales Services
*��������� Penalty clause for late delivery
*��������� Fall clause etc. etc.

It would be within the powers of the Competent Authority to place orders directly on Central/State Govt., Corporations/Undertakings/Institutions on the basis of negotiations/MOU/Cost Analysis for purchase of items and equipments.

The Corporation can also hire institutions/persons as Consultants for specific purpose, for specific period and on specific remuneration.� At the time of engaging a consultant broad parameters should be decided and, accordingly, proper budgetory allocation should also be made for the purpose.

These consultants will discharge their duties as assigned to them and their remuneration will be paid as decided by the Corporation.� If the Competent Authority desires, before making payment, the quality of work can be checked by a Committee.

Consultants should normally be appointed after sending invitation and having a presentation.� The list of parties to be invited should be based on certain criteria to be finalized by a Committee consisting of the following :-

1. General Manager (F) Chairman
2. DGM(GAD) Member
3. DGM(P&A) Member
4. Manager/DM(GAD) Convenor

In case of order value more than Rs. 2.00 lacs, if the management feels that a Limited Tender Procedure will be more beneficial in the caseof a specific product/order in question, it may opt for limited tender procedure after seeking necessary approval from the
(5)

CMD.� Clearcut speaking reasons must be recorded for seeking such a relaxation.

All the procedures and checks relating to payment of bills as detailed in these guidelines will continue to apply.� The Corporation shall always endeavour and negotiate for a payment schedule where bulk of the payment is made on delivery and installation.� In any case, 20% of the total amount shall be payable only after delivery and installation.

GUIDELINES FOR CHECKING & PASSING THE BILLS �����������

  1. The claims should have been submitted in the prescribed forms
  2. The claims should be in line with terms and conditions mentioned in the purchase order or contract Note.
  3. The claimant has to sign all the bills submitted for payments.
  4. There should be budget provision for expenditure while passing the bills.� Else it should be ensured that the expenditure has been approved by the Competent Authority and bills to be verified by the Competent Authority.
  5. Before passing the bill arithmetic calculations are to be checked.
  6. In case of store articles, the stock entry in the Stock Register is to be made.
  7. In case any statutory deductions are to be made, same shall be deducted.
  8. After checking the bills, the entry is to be made in the concerned bill register.
  9. It is also to be checked whether the bills are submitted in the prescribed time limit or not.

The delegation of powers as mentioned above are subject to the budget� provisions.
All concerned are advised to strictly adhere to the above.

(SANJAY DIXIT)

CHAIRMANMANAGING DIRECTOR

 

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