What is GFR rule?
General Financial Rules (GFRs) are a compilation of rules and orders of Government of India to be followed by all while dealing with matters involving public finances. The GeM portal shall be utilized by the Government buyers for direct on- line purchases as under:- i. Up to Rs.
What GFR 166?
Rule 166 of the GFR 2017– Single Tender Enquiry. (ii) In a case of emergency, the required goods are necessarily to be purchased from a particular source and the reason for such decision is to be recorded and approval of competent authority obtained.
Which rule is available in GFR for GeM?
GFR rule 149
GFR rule 149 allows direct on-line purchases on GeM up to Rs. 25,000/- through any of the available suppliers on the GeM, meeting the requisite quality, specification and delivery period. However this is subject to procuring authorities certifying the reasonability of rates.
What is the full form of RA in GeM?
xiii. e-Bidding and Reverse Auction (RA) on GeM.
What is GFR accounting?
GFR, or goods for resale, refers to any purchase or direct labor going into the production of a product that will be sold to the customer. For those in the retail industry, any purchased item not intended for consumers is labeled as GNFR.
What is limited tender Enquiry?
It refers to issuing Tender enquiry to only one firm i.e. to single firm. It happens usually when : The item concerned is manufactured by only one firm. It is then called a Proprietary (Original Equipment Manufacturers – OEM) Enquiry.
What is GeM and how it works?
Government e-Marketplace (GeM) is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs. GeM aims to enhance transparency, efficiency and speed in public procurement. The platform can be accessed at
What is difference between bid and RA in GeM?
Bidding is used to determine the cost or value of something. (c) Reverse Auction: A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.
What is RA bid?
A reverse auction is a type of auction in which sellers bid for the prices at which they are willing to sell their goods and services. In a regular auction, a seller puts up an item and buyers place bids until the close of the auction, at which time the item goes to the highest bidder.
What is RA document?
Return Address (register) RA.
