The Kurdistan Reconstruction and Development Society (KURDS), having its Field Office located in Erbil, Northern Iraq, by this Invitation to Bid (ITB), solicits your best price (BID) “Care and Maintenance Works at Basrma, Qushtapa, Kawrgosk & Darashakran Refugee Camps in Erbil”, more particularly specified in the Invitation to Bid (ITB) attached hereto as "Annex A" (Financial Offer)
This ITB comprises of:
(a) This letter (page 1 through page 7) (No return of this documents required)
(b) "Annex A" (financial offer) – The ITB Format (page 9 through page 13).
1. The Payment schedule will be as the following: -
a) 95 % of the contract value will be paid following the completion of 100%
b) 5 % of the contract value will be paid three months after signing of handing over certificate (Maintenance period)
2. The KURDS standard terms of payment are net 30 days (or similar discounted payment terms if offered by the Bidder) upon receipt of invoice(s) subsequent to satisfactory delivery of services, goods, equipment or materials etc.