The Urban Redevelopment Authority (“The Authority”) is inviting tenders for the development of the Land Parcel described above for and on behalf of the Government of the Republic of Singapore.
SUBMISSION OF TENDER
The tenderers shall deposit the duly completed Form of Tender:
- under sealed cover in the envelope provided in the Developer’s Packet;
- in the Tender Box at Room 10-1, 10th Storey, Tower, The URA Centre, 45 Maxwell Road, Singapore 069118; and
- on 28 June 2016 (“the tender submission date”) at or before 12 noon of that day. Room 10-1 will be opened by 9 am on that day.
Any tenders submitted after 12 noon on the tender submission date will not be considered.
Every tenderer shall pay a tender deposit of 5% or more of the tendered sale price.
The tender deposit mentioned in paragraph 1 above (hereinafter referred to as “the Tender Deposit”) may be paid by any one or more of the following methods:
- Cashier’s Order
- Bank Transfer
- Bank Guarantee
- Insurance Guarantee
(Please refer to the Conditions of Tender for detailed requirements). Payment in CASH or by CHEQUE or any other means WILL NOT BE ACCEPTED.
The Tender Deposit will be returned to all unsuccessful tenderers.
The Tender Deposit shall be forfeited if the tenderer withdraws his tender after the date and time for submission of tenders.
Tenders submitted without the Tender Deposit shall be disqualified.
ACCEPTANCE OF TENDER
Tenders shall remain valid for acceptance for four (4) weeks from the said date for submission of tenders. However, the Authority may by notice in writing to each tenderer extend the validity period of his tender by such further period not exceeding 2 weeks.
Selection of the winning tender will be based on tendered sale price. However, the Authority reserves the right to reject the highest or any tender.
PAYMENT OF THE SALE PRICE
The successful tenderer shall pay the tendered sale price by Cashier’s Order as follows:
- 25% (less the Tender Deposit) within twenty-eight (28) days of the Authority’s acceptance of his tender;
- 75% within ninety (90) days of acceptance of his tender.
This tender brief is meant to highlight only some of the principal points of the tender and does not form part of the tender documents. All tenderers shall comply with the terms and requirements as stipulated in the “Conditions of Tender” and “Technical Conditions of Tender” contained in the “Developer’s Packet”.