Management Development Programme on ‘Tenders, Contracts & Arbitration’ at NIFM, Faridabad from 5.5.2003 to 9.5.2003

Mukta Shekhar,

DyFA&CAO(C)ADI/WR

Management Development Programme for one week on ‘Tenders, Contracts & Arbitration’ was held at NIFM, Faridabad from 5.5.2003 to 9.5.2003.Participants included executives and finance officers from various government departments including officers of IRAS, IDAS and some PSUs like HPCL, NTPC, IRCON etc.

The one week course has been very well structured covering a wide range of areas and issues involved in contract management and arbitration. The sessions on contract management were extremely useful wherein different aspects right from preparation of bid documents, framing of tender conditions, stipulations relating to Security Deposit, Earnest Money, Bank Guarantees, Price Variation clauses, finalization of tenders, judging the reasonableness of rates, quantity variations; drafting of contract agreements etc. were elaborated and valuable tips given.

Sessions were taken by CTEs from Central Vigilance Commission on transparency in contracts and evaluation of tenders. The participants were exposed to various case studies which helped to understand the common errors made during evaluation of contracts. In addition there was one session which introduced the various techniques of public buying and the Basics of World Bank Buying including an exposure to the international INCOTERMS.

Many of us have been or will be appointed as arbitrators at one time or the other. The Arbitration module of the programme is tailor- made for such a purpose. The provisions of the new Arbitration Act of 1996 were explained in great detail with a insight being given on International Arbitration Cases as well. The role and responsibilities of an arbitrator were outlined giving guidance on how arbitration should be conducted.

The course coordinator Dr.Anand Sharma, IRAS conducted an extremely useful session on the various legal aspects of contracts, knowledge of which is essential for efficient contract management. The programme concluded with a lively interactive Panel Discussion with the guest faculty who were able to provide a veritable basket of ideas and tips to the participants with regard to their queries relating to practical problems faced in their organizations.

The icing on the cake was the experience sharing session by the participants from various government departments & PSUs. It was interesting to know how the other departments functioned and of the good practices being followed by them to ensure effective Contract Management. The valedictory address was delivered by Smt. Aruna Makhan, Director, NIFM.

All in all, then, the MDP was a valuable course far removed from the mundane & repetitive courses that are usually held on these topics. In addition, the participants were looked after well by NIFM, with all relevant material being provided by them. The course is a ’must-do’ for the finance officers who on a day-to-day basis are dealing with tenders and arbitration. Inputs given during the course will aid the participants to contribute in a more meaningful manner towards their organizations.

For details on the course and subsequent modules being organized, you can contact Dr.Anand Sharma at anand_nifm@yahoo.com