KARANDAAZ PAKISTAN  

Request for Quotation – 004 

for 

Supply, Installation, and Configuration of SWIFT Connectivity Link services  27thApril 2026

REQUEST FOR QUOTATION 

Country: Pakistan 

Title of RFQ: Supply, Installation, and Configuration of SWIFT Connectivity Link  services  

RFQ Number: 004  

Issuance date of RFQ: 27thApril 2026  

Last date for Queries: 4th May 2026 

Response to Queries: 6th May 2026 

Closing date of RFQ: 14th May 2026 

Address RFQ response to: Procurement Department  

E-mail Address: [email protected] 

SECTION 1. LETTER OF INVITATION 

RFQ – 004  

27thApril 2026, Islamabad, Pakistan

1. The purpose of this Request for Quotation (the “RFQ”) is to solicit quotation from interested bidders for “Supply, Installation, and Configuration of SWIFT Connectivity Link services” to be  provided to the State Bank of Pakistan (“SBP”). The RFQ is designed to assess whether bidders  are able to provide the equipment and services required (hereinafter jointly and severally  referred to as the “Services”), and through a competitive and fair assessment, select a winning  bidder for the Services for a long-term contract. 

2. Karandaaz Pakistan invites sealed quotations from interested and eligible bidders. Further  details on the Services required are provided in the Terms of Reference (Section 4 of the RFQ).3. The bidder will be selected under open competitive procedures, in accordance with the  Procurement Policies and Procedures of Karandaaz Pakistan (the “KRN Policy and  Procedures”). In the event of any conflict or inconsistency in terms and conditions of the RFQ 

and the KRN Policy and Procedures, the KRN Policy and Procedures shall prevail. 4. Karandaaz Pakistan anticipates issuing a fixed price contract in USD. 

5. An award will be made based on Lowest Price Technically Acceptable quotation.  6. This RFQ is only an invitation to the prospective bidders to submit their quotation. It  primarily contains indicative terms for the bidders to submit their quotations and does not  confer any rights to the bidders. Any information contained in the RFQ or provided to the  bidders is on the terms and conditions set out in this RFQ. Karandaaz Pakistan is providing  this RFQ without any warranty or representation, express or implied, as to its content, its  accuracy or completeness and may at its absolute discretion, but without being under any  obligation to do so, update, amend or supplement the information of this RFQ. Each bidder  shall be responsible for conducting its own investigation and analysis and should check the  accuracy, reliability and completeness of this RFQ and where necessary obtain independent  advice. In case of conflict between the provisions of this RFQ and Addendum(s) to the RFQ,  the provisions of this RFQ shall prevail unless stated otherwise. In case of any conflict  between the provisions of this RFQ, the decision of Karandaaz Pakistan shall be final  regarding the overriding effect of the respective provision. 

7. Karandaaz Pakistan reserves the right to assign the agreement on the basis of this RFQ or  any part thereof to SBP, or any authorized entity, at any time at its sole discretion. 8. Karandaaz Pakistan reserves the right to disqualify any bid at its sole discretion. 

1 

The entire sets of documents, as mentioned in Clause 11 Section 2 must be submitted in hard copies  and in electronic format through email with subject: “Supply, Installation, and Configuration of SWIFT  Connectivity Link services” on or before 14th May 2026. Bidders are required to submit the following signed and stamped hard copies, each in separate sealed envelopes: 

• One (1) hard copy of the Pre-Qualification Requirements document 

• One (1) hard copy of the Technical Proposal 

• One (1) hard copy of the Financial Proposal 

All hard copies must be addressed to The Procurement Department and delivered to: 1-E, Ali Plaza, D Chowk, Mezzanine Floor, Nazimuddin Road, Blue Area, Islamabad, Pakistan. 

In addition, bidders must submit electronic copies of the Pre-qualification, Technical and Financial  Proposals via email at [email protected] , organized into one (1) set of separate folders. Electronic copies of the Financial Proposal must be password-protected. The password will be  requested by Karandaaz Pakistan’s Procurement Department at the time of financial opening, if  required. 

Yours sincerely,  

The Procurement Department 

Karandaaz Pakistan

2 

SECTION 2. INSTRUCTIONS TO BIDDERS 

A. General 

1 Scope of Proposal 

Karandaaz Pakistan issues this RFQ for the following Services: 

“Supply, Installation, and Configuration of SWIFT Connectivity Link services” Throughout this RFQ: 

a. The term “in writing” means communicated in written form (e.g., by mail, e-mail) b. “Day” means calendar day 

c. “SWIFT” means the Society for Worldwide Interbank Financial Telecommunication, a  global member-owned cooperative and the world’s leading provider of secure financial  messaging services. 

2 Fraud and Corruption 

Bidders shall comply with Karandaaz Pakistan’s policy regarding fraud and corruption set out  in Section 3 of the RFQ. 

3 Eligibility 

Karandaaz Pakistan may specify certain minimum qualification criteria in the Eligibility /  Qualifications tables in Section 2 of the RFQ, e.g., minimum years of relevant experience, etc. 

Bidders shall be under an obligation to disclose to Karandaaz Pakistan any situation of actual  or potential conflict that impacts their capacity to perform/act in accordance with Karandaaz  Pakistan’s best interests or pose a conflict of interest. Failure to disclose such situations may  lead to the disqualification of a bidder or the termination of its contract. Karandaaz Pakistan’s  policy with regard to conflict of interest is specified in Clause 33 of Section 3 of the RFQ. 

Bidders shall, upon request, provide evidence of their continued eligibility to the satisfaction  of Karandaaz Pakistan, as may be requested from them from time to time. 

Bidders shall be under an obligation to disclose to Karandaaz Pakistan whether they are a  Related Party of Karandaaz Pakistan. Failure to disclose may lead to the disqualification of a  bidder or the termination of its contract. Karandaaz Pakistan’s policy with regard to related  parties is summarized in Clause 35 of Section 3 of the RFQ. 

4 Ineligibility  

Any entity, company, consultant, agent, or individual that has directly or indirectly proposed,  or assisted in the preparation of, the bill of quantities (BOQ), specifications, scope of work, or  any other part of this RFQ shall be barred from participating in this RFQ, whether directly or  indirectly, either on its own or through an affiliate, partner, or any other form of association. 

5 One Proposal Per Bidder  

An entity can participate only in one bid; as a single bidder. Partnership firms or similar entities  which work under a common brand name or a part of an affiliated network will be regarded  as a single entity and may not participate in more than one bid. Similarly, associates and  subsidiaries of an entity will be regarded as a part of a group and may not participate in  multiple bids. Bidders may ask for clarification, and any decision in this regard by Karandaaz  shall be deemed to be final. 

3 

6 Cost of Preparation of Proposal 

The bidder shall bear all costs associated with the preparation and submission of its quotation.  Karandaaz Pakistan shall not be responsible or liable for any such costs, regardless of the  conduct or outcome of the bidding process. 

B. Request for Quotation 

7 Contents of the RFQ 

The RFQ comprises of the documents listed below plus any Addendum issued pursuant to  Clause 9, of Section 2 ‘Amendment of RFQ’.  

Section 1 - Letter of Invitation 

Section 2 - Instructions to bidders  

Section 3 – Procurement Policy – bidder conduct 

Section 4 - Terms of Reference 

Section 5 – Financial Proposal Forms 

Section 6 – Guiding principles on contract terms and conditions 

Annexure A – Quotation Submission Form 

Annexure B – Undertaking (Blacklisting) 

Annexure C – Reference Format 

Annexure D – Conflict of Interest Form  

Annexure E – Related Party Disclosure  

8 Clarification of RFQ 

All questions and/or clarifications regarding this RFQ must be submitted via email to  [email protected] no later than 4th May 2026. All correspondence and/or  inquiries regarding this solicitation must reference the RFQ Number. No phone calls or in person inquiries will be entertained; all questions and inquiries must be in writing. No queries  / clarifications regarding this RFQ would be entertained after this deadline. 

Only written answers will be considered official and carry weight in the RFQ process and  subsequent evaluation. Any verbal information received from a Karandaaz Pakistan employee  or other entity should not be considered as an official response to any questions regarding  this RFQ. 

Questions and requests for clarification and the responses thereto will be uploaded at  Karandaaz Pakistan’s website under the procurement section on 6th May 2026. 

9 Amendment of RFQ 

At any time prior to the deadline for submission of bids, Karandaaz Pakistan may amend the  RFQ by issuing an Addendum. Any Addendum so issued shall be part of the RFQ and will be  uploaded to Karandaaz Pakistan’s website under the procurement section. To give  prospective bidders reasonable time in which to take an Addendum into account in preparing  their bids, Karandaaz Pakistan may, at its discretion, extend the deadline for the submission  of bids, pursuant to Clause 15, of Section 2 ‘Deadline for Submission of Quotations’. 

C. Preparation and Submission of Quotations 

10 Language of quotation 

All documents relating to the quotation shall be written in the English language.

4 

11 Documents Comprising the Quotation  

The bidder needs to submit three separate sets of documents in sealed envelopes, for the  physical submission; and three separate folders, for the soft copies that are to be emailed.  Following is the set of documents that need to be submitted: 

The bidder is required to submit one (1) set of documents in separate sealed envelopes for  physical submission, and one (1) set of documents in separate folders for electronic  submission via email. 

Following is the set of documents that need to be submitted: 

a. Pre-qualification requirements document which includes: 

i. The Eligibility / Qualifications table in Section 2: Pre-Qualification Criteria (Mandatory) 

b. Technical proposal document which includes: 

i. Description of approach, methodology, and work plan in responding to the terms of  reference 

ii. The Technical requirements table in Section 4: Scope of Work 

iii. Work schedule and planning for deliverables including the Project timelines table in  Section 4: Project Timelines, Deliverables, and Payment Schedule 

iv. A non-priced Bill of Quantities including items, specifications and quantities, without  any pricing information.  

v. Team composition, assignment, and key experts to be utilized and Curriculum Vitae  (CV of team members and key experts) 

vi. Resource allocation plan for the overall tenure of the project 

d. Financial proposal document which includes: 

i. All the tables that are listed in Section 5: Financial Proposal Forms 

Bidders must note that all pricing must be fully comprehensive, complete, and list any  available discounts. Pricing information supplied with the quotation must be valid for  at least 30 (thirty) days after the due date for quotation submission. All one-time and  recurring costs must be fully described. Prices should be quoted, both inclusive and  exclusive of all but showing separately, costs of equipment, inspection, services,  transportation, Provincial/Federal taxes, import duties, if any, and other levies. Karandaaz will not be responsible for any erroneous calculation of tax rates or any  subsequent changes in rates or structure of applicable taxes. All differences arising  out as above shall be fully borne by the successful bidder. In case the bidder doesn’t  identify inclusion of applicable taxes in the proposal, it shall be assumed that the  quoted price is inclusive of all applicable taxes.

5 

Technical Pre-qualification Criteria (Mandatory) 

Note: Failure to meet any of the mandatory requirements outlined below may result in the Bidder’s disqualification. The proposal must include a duly completed,  signed, and stamped version of the table provided below, submitted in both PDF and Excel formats. Any omission, incomplete submission, or deviation from the  prescribed format may render the proposal non-responsive at the sole discretion of Karandaaz Pakistan.

through a valid partnership, reseller, or  

contractual arrangement.

7 

8

12 Quotation Submission Form (Annexure A) Attachment of filled out form provided in  

Annexure A

9 

12 Currencies of Bid, Contract and Payment 

The financial proposal must be submitted in USD only.  

For bidders who do not have an office in Pakistan, the contract shall be offered in USD. In  case of bidder having office in Pakistan, all payments shall be made in PKR as per the  contracted schedule of payments, using selling USD/PKR exchange rate quoted on SBP’s  website on the payment date. 

All payments are subject to tax deduction as per applicable laws. Bidders must ensure  compliance with all relevant tax regulations and provide valid tax registration documents  at the time of submission. 

Karandaaz Pakistan will pay the successful bidder’s invoice upon receipt of the invoice as  well as Karandaaz Pakistan’s approval of the Deliverables. Payment will be made, as  agreed, to the account specified in the successful bidder’s invoice within 30 days after the  acceptance of deliverables and submission of the invoice subject to central bank’s approval  for repatriation of funds. 

13 Quotation Validity 

Quotation shall remain valid for a minimum of thirty (30) days after the quotation  submission deadline date established by Karandaaz Pakistan. A quotation valid for a  shorter period shall be rejected as non-responsive. 

In exceptional circumstances, prior to the expiration of the quotation validity period,  Karandaaz Pakistan may request all bidders who have submitted their quotation to extend  the period of validity of their quotation for a specified additional period. The request and  the responses shall be made in writing. Agreement by a bidder to extend the validity of its  quotation, shall be without any change in the original quotation and with confirmation of  availability of the key experts. A bidder has the right to refuse extension in the validity  period of its quotation, in which case, the quotation will not be further evaluated. 

If any of the key experts/resource become unavailable for the extended validity period,  the relevant bidder shall provide an adequate justification in writing and evidence to the  satisfaction of Karandaaz Pakistan together with the substitution request. In any such case,  the replacement key expert shall have equal or better qualifications and experience than  those of the originally proposed key expert.  

If the said bidder fails to provide a replacement key expert with equal or better  qualifications, or if the reasons provided for the replacement or justification are not to the  reasonable satisfaction of Karandaaz Pakistan, the quotation will be rejected at Karandaaz  Pakistan’s sole discretion. 

14 Format, Signing, and Submission of Quotations 

The bidder shall prepare and email a scanned copy of the documents comprising the  quotation as specified in Clause 11, of Section 2 on its official letterhead. Each document  shall be signed by a person duly authorized to sign on behalf of the bidder and all pages of  the quotation shall be initialled by the person or persons signing the quotation. 

The quotation shall contain no alterations or additions, other than those which are  necessary for complying with instructions issued by Karandaaz Pakistan, or as are  necessary for correcting errors made by the bidder, in which case such corrections shall be  initialled by the person or persons signing the quotation.

15 Deadline for Submission of Quotations 

Quotations must be received by Karandaaz Pakistan no later than 14th May 2026. 

Karandaaz Pakistan may extend the deadline for submission of quotations by issuing an  amendment in accordance with Clause 9 of Section 2 ‘Amendment of RFQ’, in which case  the original deadline shall be extended to the new deadline. 

16 Late Quotation 

Any quotation received after the deadline for the submission of quotations prescribed in  Clause 15 of Section 2 by Karandaaz Pakistan will not be accepted. Offers received after  the designated date will be rejected, and returned unopened to the supplier, or shredded,  and the supplier of such quotation shall be informed accordingly. 

17 Withdrawal, Substitution, and Modification of Quotation 

Bidders may withdraw, substitute or modify their quotation by giving notice in writing  before the deadline for submission of quotation prescribed in Clause 15 of Section 2  ‘Deadline for Submission of Quotations’. 

Each bidder’s withdrawal, substitution or modification notice shall be prepared, sealed,  marked, and delivered in accordance with Clause 14 of Section 2 ‘Format, Signing, and  Submission of Quotations’, with the subject line: Responding to RFQ for “Supply,  Installation, and Configuration of SWIFT Connectivity Link services” [“WITHDRAWAL,”  SUBSTITUTION” or “MODIFICATION”] as appropriate. No quotation may be substituted or  modified after the deadline for submission of quotation as afore stated. 

D. Quotation Opening and Evaluation 

18 Quotation Opening 

Karandaaz Pakistan shall open the quotations, including modifications made pursuant to  Clause 17 of Section 2, on any day after the deadline stipulated in Clause 15 of Section 2  or the extended deadline in accordance with Clause 15 of Section 2, as the case may be. 

19 Confidentiality 

Information relating to the examination, evaluation, comparison, and post-qualification of  bid, and recommendation of contract award, shall not be disclosed to bidders or any other  third persons whatsoever, prior to intimation of the contract award. Any effort by a bidder  to influence Karandaaz Pakistan in the examination, evaluation, comparison, and post 

qualification of the quotation or contract award decision may result in the rejection of its  bid. Notwithstanding the foregoing, from the time of quotation opening to the time of  bidding process conclusion, if any bidder wishes to contact Karandaaz Pakistan on any  matter related to the bidding process, it should do so in writing at the address indicated in  Clause 8 of Section 2 ‘Clarification of RFQ’. 

20 Clarification of Bids 

To assist in the examination, evaluation, and comparison of bids, Karandaaz Pakistan may,  at its discretion, seek clarifications in writing and/or through a presentation in respect of  the bid from any bidder. The request for clarification and the response shall be in writing,  but no change in the price or substance of the bid shall be sought, offered, or permitted  except correction of arithmetical errors discovered by Karandaaz Pakistan in the  evaluation of the quotations in accordance with Clause 25 of Section 2 ‘Correction of  Errors’.

11 

21 Preliminary Examination of Bids 

Prior to the detailed evaluation of bids, Karandaaz Pakistan shall first review each  quotation and check the power of attorney or any other form of delegation of authority  demonstrating that the representative(s) has been duly authorized to sign the quotation,  initialization of all pages, etc. 

22 Determination of Bidder’s Eligibility and Qualifications 

Karandaaz Pakistan’s determination of a bid’s responsiveness shall be based on the  contents of the bid itself. A substantially responsive bid is one, which conforms to all the  terms, conditions, and specifications of the RFQ, without material deviation or reservation.  A material deviation or reservation is one (a) which affects in any substantial way the  scope, quality, or performance of the Services; (b) which limits in any substantial way or is  inconsistent with the RFQ, Karandaaz Pakistan’s potential rights or bidder’s obligations  under the proposed contract; or (c) the rectification of which would unfairly affect the  competitive position of other bidders presenting substantially responsive proposal. 

Karandaaz Pakistan intends to solicit quotationsfrom an eligible firm/company. The bidder  must be able to travel and work across Pakistan (if required). Karandaaz Pakistan will not  provide any logistical or visa support.  

23 Evaluation of Technical Proposal 

Each proposal that meets all mandatory requirements shall be qualified for financial  evaluation. 

Bidders are required to submit a non-priced Bill of Quantities (BOQ) as part of the technical  proposal. The BOQ must clearly outline all items, specifications, and quantities without  indicating any pricing information. 

24 Evaluation of Quotation Price and ranking:  

Financial quotation of the technically qualified bidder(s) shall be opened. 

The financial quotations submitted shall be evaluated on total quoted price for all-required  items. And shall be ranked in accordance with the “Least Cost” selection method. Total  price shall include all applicable taxes, duties, levies, inland insurance etc. and all other out  of pocket expenses. All services including but not limited to loading, unloading,  installation, configuration, and commissioning at the delivery sites in Karachi and  Hyderabad etc. shall be the responsibility of the bidder. 

Evaluation of the financial quotation will consider, but will not be limited to, the following: • Least cost selection 

• Consistency with the technical proposal 

The prices for the scope of all-required items (including support and maintenance under  warranty) will be fixed for a period of five (5) years from the effective date of the contract,  unless otherwise agreed in writing. Karandaaz Pakistan may, at its sole discretion and  without any obligation, split the overall order, place split orders, or purchase selected  individual goods or services within the five (5) year period (“Split order”). The pricing for  any such Split order shall remain consistent with the terms of the original proposal, except  where otherwise negotiated and agreed in writing. Karandaaz Pakistan shall only be  responsible for payment of the Supply, Installation, and Year - 1 Warranty & SLA under this  RFQ. Any future orders relating to Year 2 – 5 Warranty & support shall be placed by SBP or  its nominated entity at its sole discretion, as per the prices defined in the financial  proposal, except where otherwise negotiated and agreed in writing.

12 

The total cost of ownership (summation of upfront costs and recurring costs) for five  years would be used for financial evaluation. 

Karandaaz Pakistan may also negotiate the price and terms with the top ranked bidder  whose bid will be determined as least cost / technically acceptable and which is most  advantageous to Karandaaz Pakistan. If the outcome of the negotiation is unsuccessful or  an agreement is not reached with the top ranked bidder, Karandaaz Pakistan may then  negotiate with the next in-line bidder and so on down the list as per rank until a satisfactory  outcome is achieved 

25 Correction of Errors 

Quotations determined to be substantially responsive shall be checked by Karandaaz  Pakistan for any arithmetical errors. Errors shall be corrected by Karandaaz Pakistan as  follows:  

Where there is a discrepancy between the amounts in figures and in words, the amount in  words shall govern. 

The amount stated in the quotation shall be adjusted by Karandaaz Pakistan in accordance  with the above procedure for the correction of errors and, with the concurrence of the  bidder, shall be considered as binding upon the bidder. If the bidder does not accept the  corrected amount, the quotation shall be rejected. 

26 Currency for Price Evaluation 

The financial quotation shall be submitted in USD only.  

E. Award of Contract 

27 Award Criteria 

Karandaaz Pakistan shall award the contract to the bidder whose quotation technically  qualifies, has the least cost and is most advantageous to Karandaaz Pakistan.  

28 Karandaaz Pakistan’s right to accept any Quotation and to reject any or all Quotations Bidders whose bid is evaluated successful will be notified of award and unsuccessful  bidders will also be intimated via regret emails. Karandaaz Pakistan shall observe a 7 calendar days standstill period after intimation of results. Standstill period is defined as  the period to give bidders time to assess whether it is appropriate to submit an  inquiry/concern/complaint. In case a bidder inquires about the results of the evaluation,  only the results of the inquiring party shall be shared. 

Any inquiry received after the standstill period shall not be considered for any action. 

Karandaaz Pakistan reserves the right to cancel the bidding process and to reject all bids  or to accept or reject any bid, at any time prior to the award of contract without thereby  incurring any liability to the affected bidder or bidders or any obligation to inform the  affected bidder or bidders of the grounds for Karandaaz Pakistan’s action. 

29 Complaints pertaining to Bidding Process  

Without prejudice to Clause 28 of Section 2, any complaint at any stage of the bidding  process or on conclusion of the bidding process from a bidder regarding a deviation from  the prescribed procurement procedure may be addressed and delivered in writing to:  

Karandaaz Pakistan

13 

Attention: Chief Executive Officer 

1 E, Ali Plaza, Nazimuddin Road, D-Chowk, Islamabad, Pakistan 

Any requests via email seeking this explanation should be sent to 

[email protected] 

The decision of the competent authority on the complaint shall be final in all respects. 

30 Notification of Award and Signing of Agreement 

The bidder whose quotation has been accepted shall be notified of the award by  Karandaaz Pakistan prior to expiration of the quotation validity period through a  communication in writing (the “Letter of Acceptance”). The said Letter of Acceptance shall  state the full value of the contract payable by Karandaaz Pakistan in consideration of the  Services to be provided in accordance with the RFQ. 

The contract pursuant to the award shall incorporate all agreements between Karandaaz  Pakistan and the successful bidder and shall be signed by Karandaaz Pakistan and sent to  the successful bidder, anytime following the date of the Letter of Acceptance. The  successful bidder will duly sign the contract and return it to Karandaaz Pakistan with seven  (7) days of the receipt of the Letter of Acceptance.

14 

SECTION 3. PROCUREMENT POLICY – BIDDER CONDUCT 

31 Performance Security 

Within twenty-eight (28) days of the receipt of the Letter of Acceptance from Karandaaz  Pakistan, the successful bidder shall furnish the performance security amounting to 10%  of the contract value (Supply, Installation, and Year - 1 Warranty), in the form of  unconditional, irrevocable and payable on first demand Bank Guarantee issued by an AA  rated bank in the name of “Karandaaz Pakistan”. A foreign institution providing a Bank  Guarantee shall have a correspondent financial institution located in Pakistan. All costs  associated with the performance security shall be borne by the bidder. The performance  security shall be submitted in USD.  

The performance security shall be valid during the contract’s lifetime including the support  and maintenance period and until satisfaction of all claims of Karandaaz Pakistan. 

32 Corrupt or fraudulent practices 

Bidders, suppliers, contractors and their agents (whether declared or not), suppliers, and  any personnel thereof, shall observe the highest standard of ethics during the  procurement and execution of contracts. 

Any effort by the bidder to influence Karandaaz Pakistan in the examination, evaluation,  comparison, post-qualification of the quotations, or contract award decisions will result in  the rejection of its quotation. 

Karandaaz Pakistan shall not award the contract if it is determined that the bidder, or any  of its personnel, or its agents, suppliers and/or their employees, has, directly or indirectly,  engaged in corrupt, fraudulent, collusive, coercive, or obstructive practices in competing  for the contract in question. As part of bidding/ solicitation documents, Karandaaz Pakistan  will seek declaration of ‘Non collusive non-corrupt practices’ from each bidder. Format for  such declaration is prescribed in Section 3 of the standard bidding document. In pursuance  of this policy, following terms are defined as follows: 

a. “Corrupt practice” is the offering, giving, receiving, or soliciting, directly or indirectly,  of anything of value to influence improperly the actions of another party; 

b. “Fraudulent practice” is any act or omission, including a misrepresentation, that  knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial  or other benefit or to avoid an obligation; 

c. “Collusive practice” is an arrangement between two or more parties designed to  achieve an improper purpose, including to influence improperly the actions of another  party; 

d. “Coercive practice” is impairing or harming, or threatening to impair or harm, directly  or indirectly, any party or the property of the party to influence improperly the actions  of a party; 

e. “Obstructive practice” is deliberately destroying, falsifying, altering, or concealing of  evidence material to the investigation or making false statements to investigators in  order to materially impede investigation into allegations of a corrupt, fraudulent,  coercive or collusive practice; and/or threatening, harassing or intimidating any party  to prevent it from disclosing its knowledge of matters relevant to the investigation or  from pursuing the investigation.

15 

Karandaaz Pakistan shall not award the contract if it’s determined that the bidder or any  of its personnel, agents or, suppliers and/or their employees are directly or indirectly  engaged in or support individuals, groups or entities associated with terrorism, including  but not limited to the following: 

a. HM Treasury’s Office of Financial Sanction Implementation-Financial sanctions  consolidated list of targets; 

b. UK Home Office- Proscribed terrorist groups or organisations; 

c. United Nations- United Nations Security Council Sanctions List; 

d. World Bank- World Bank Listing of Ineligible Firms and Individuals. 

e. European Union- Consolidated List of Sanctions; 

f. Parties on US Treasury’s Office of Foreign Assets Control (OFAC) List of  Specially Designated Nationals and Blocked Persons 

g. National Counter Terrorism Authority (NACTA)- Proscribed Organizations List; h. National Counter Terrorism Authority (NACTA)-Proscribed Persons List i. French DG Trésor Freeze Register Sanctions List 

The successful bidder will not use funds provided under the contract directly or indirectly  in support of activities (a) prohibited by US laws related to combatting terrorism (b) with or  related to parties on the List of Specially Designated Nationals (www.treasury.gov/sdn); or  (c) with or related to the countries against which the U.S. maintains a comprehensive  embargo (currently, Cuba, Iran, (North) Sudan, Syria, and North Korea). Unless such  activities are fully authorized by the U.S. government under applicable laws and specifically  approved by Karandaaz Pakistan at its sole discretion.  

33 Avoidance of conflict of interest 

Any bidder participating in the procurement process should disclose any actual or  perceived conflict of interest situation/condition. Any bidder to have a conflict of interest  shall be ineligible for award of a contract.  

A bidder shall be considered to have a conflict of interest in a procurement process if: 

a. Such bidder is providing goods, works, or non-consulting services resulting from or directly  related to consulting services for the preparation or implementation of a project that it  provided or were provided by any affiliate that directly or indirectly controls, is controlled  by, or is under common control with that bidder; or 

b. An entity can participate only in one bid as a single bidder. Partnership firms or similar  entities which work under common brand name or a part of affiliated network will be  regarded as single entity and may not participate in more than one bid. Similarly associates  and subsidiaries of an entity will be regarded as a part of a group and may not participate  in multiple bids. Bidders may ask for clarification and any decision in this regard by  Karandaaz shall be deemed to be final.  

c. Such bidder(including its personnel) has a close business or family relationship with one or  more professional staff of Karandaaz Pakistan who: (i) is/are directly or indirectly involved  in the preparation of the bidding documents or specifications of the contract, and/or the  bid evaluation process of the contract; or (ii) would be involved in the implementation or  supervision of the contract unless the conflict stemming from such relationship has been  resolved in a manner acceptable to Karandaaz Pakistan throughout the procurement  process and execution of the contract; or

16 

d. Such bidder falls under any other conflict of interest situation as specified in the  standard bidding documents relevant to the specific procurement process. 

34 Duty of Care 

The successful bidder in performance of services for Karandaaz Pakistan shall exercise a  duty of care. Duty of care holds the successful bidder responsible for the safety and well being of its personnel and any third party affected by its activities. 

35 Related Parties 

Any bidder participating in the procurement process should disclose whether they are a  Related Party of Karandaaz Pakistan. 

Related Parties of Karandaaz Pakistan include: 

(i) a director or his / her relative,  

(ii) a key managerial personnel or his relative;  

(iii) a firm, in which a director, manager or his relative is a partner;  (iv) a private company in which a director or manager is a member or director;  (v) a public company in which a director or manager is a director or holds along with  his relatives, any shares of its paid-up share capital;  

(vi) any body corporate whose chief executive or manager is accustomed to act in  accordance with the advice, directions or instructions of a director or manager; (vii) any person on whose advice, directions or instructions a director or manager is  accustomed to act:  

Provided that nothing in sub-clauses (vi) and (vii) shall apply to the advice,  directions or instructions given in a professional capacity;  

(viii) any company which is a holding, subsidiary or an associated company of  Karandaaz Pakistan; or a subsidiary of a holding company to which Karandaaz  Pakistan is also a subsidiary;  

(ix) such other person as may be specified.  

Here relative is taken to mean: the spouse, siblings, lineal ascendants and descendants of  a person. 

It is the policy of Karandaaz Pakistan that transactions with related parties shall be on  purely commercial terms. There will not be any undue consideration given to such  transactions. 

In case the bidder is a Related Party, the following minimum information will be required  to be provided alongside the quotation for use by the relevant approval body at Karandaaz  Pakistan. Such bidders acknowledge that Karandaaz Pakistan may also require additional  information not listed below. 

a. Names of the interested or concerned persons or directors  

b. Nature of relationship, interest or concern along with complete information of  financial or other interest or concern of directors, managers or key managerial  personnel in the related party  

c. Any other relevant and material information that is necessary for the body to  make a well-informed decision regarding the approval of related party  transactions 

The bidder acknowledges that Karandaaz Pakistan may have a separate approval process  for its transactions with Related Parties. The bidder further acknowledges that Karandaaz  Pakistan is obligated to maintain a register of its transactions with Related Parties, and 

17 

may disclose this information where required, including, but not limited to, its annual  accounts. 

36 Intellectual Property Rights 

The ownership of all copyright and other intellectual property rights in respect of any data  compilations, research, spreadsheets, graphs, reports, diagrams, designs, work products,  software, or any other documents, developed in connection with the Services to be provided by  the bidder as hereunder will exclusively vest in and remain with Karandaaz Pakistan which shall  have all proprietary rights therein, notwithstanding that the successful bidder or its employees  may be the author of the intellectual property. All documents relating to the intellectual property  or otherwise connected with the Services, or duties must be returned or delivered to Karandaaz Pakistan at the time of the expiration or termination of the contract save that the successful bidder  may retain one copy for the keeping of its proper professional records and shall be entitled to use  for internal business purposes. Subject to the foregoing, the successful bidder agrees not to publish  or make use of any of the intellectual property, or documents relating thereto, without the prior  written approval of Karandaaz Pakistan, and where approval is granted, without proper attribution  to Karandaaz Pakistan. Provided, however, that any intellectual property rights in any ideas,  concepts, trade secrets, data, know-how, software, systems and methodologies (“Contractor  Knowledge”) utilized by the successful bidder in the course of producing the deliverables or  otherwise in providing the Services, shall belong to the successful bidder. Subject to full payment  of the fees, the successful bidder shall to the extent necessary grant to Karandaaz Pakistan a license  to use solely for the purpose of the contract and any Contractor Knowledge contained in the  deliverables, provided that such use is limited to the purpose for which the deliverables are  provided.

18 

SECTION 4. TERMS OF REFERENCE 

Thematic Area: Digital Financial Services 

Project Title: Supply, Installation, and Configuration of SWIFT Connectivity Link services Expected Start Date: May 2026 

About Karandaaz Pakistan 

KARANDAAZ PAKISTAN, a section 42 company incorporated in Pakistan in August 2014, promotes  access to finance for small businesses through a commercially directed investment platform, and  financial inclusion for individuals by employing technology enabled digital solutions. 

Karandaaz Pakistan has financial and institutional support from leading international development  finance institutions; principally the United Kingdom’s Department for International Development  (DFID) and the Bill & Melinda Gates Foundation (BMGF).  

Karandaaz Pakistan has four verticals. 

• Karandaaz Capital provides wholesale structured credit and equity-linked direct growth capital  investments in micro, small and mid-size enterprises (MSMEs) with compelling prospects for  sustainable growth and employment generation in Pakistan. 

• Karandaaz Digital focuses on expanding the poor’s access to digital financial services in  Pakistan by working across the ecosystem with all stakeholders including regulators,  policymakers, government departments, businesses and researchers and academics with  activities arranged in four key work areas–Policy and Regulation, Seeding Innovation,  Experimentation and Solutions Development, and Scale and Outreach. 

• Karandaaz Innovation manages the Innovation Challenge Fund, providing risk capital and  grants to partners with an aim to generate innovative solutions to complex problems in areas  of financial inclusion and entrepreneurship.  

• Knowledge Management and Communications support the company's core financial  inclusion goal by developing and disseminating evidence-based insights and solutions to  influence markets and the financial ecosystem. 

Work under this RFQ will fall under the Digital Financial Services Department. Background and Context Setting  

Karandaaz Pakistan invites quotations from qualified and eligible bidders for the Supply,  Installation, and Configuration of SWIFT Connectivity Link services at the SBP Main Building,  Karachi, and BSC Office, Hyderabad, in accordance with the attached Scope of Work. Bidders are  requested to submit their quotations in compliance with the technical specifications, delivery  schedule, and terms and conditions outlined in this RFQ.

19 

Scope of Work - Mandatory Technical Requirements 

Note: Bidders failing to satisfy any of the mandatory requirements listed below will be considered non-responsive. The quotation must include a duly completed,  signed, and stamped version of the table, submitted in both PDF and Excel formats.

21

22

23

Service Level Agreement (SLA) Matrix

Project Timelines, Deliverables and Payment Schedule  

The expected project timeline is as follows. Bidders are encouraged to submit the minimum  viable timeline and the pre-requisites expected to meet it. 

All phases will not take place back-to-back. The time span between the phases may vary depending  on the progress of the project in other areas connected to this procurement. The decision of  Karandaaz Pakistan in this regard shall be final.  

Tentative Payment schedule 

The following payment schedule is indicative and tentative only, provided for planning purposes.  The final payment schedule, amounts, timing, and conditions precedent (including milestone  definitions and acceptance criteria) shall be agreed in writing with Karandaaz Pakistan at the time  of contract finalization and shall be set out in the executed contract. All payments shall be made  after successful acceptance of project deliverables and milestones, as certified by SBP or its  nominated entity. 

• Supply and Installation 

o Payment after Delivery & Installation: 70% of the aggregate price of items A.1-A.3  defined in Financial Template in Section 5. 

▪ SBP or its nominated entity will provide ‘Certificate of Delivery and  

Installation’ which shall constitute evidence of milestone completion for  

payment purposes. 

o Payment after Successful Implementation and Acceptance: 30% of the aggregate  price of items A.1-A.3 defined in Financial Template in Section 5. 

▪ SBP or its nominated entity will provide ‘Successful Implementation and Acceptance  Certificate’ which shall constitute evidence of milestone completion for payment  purposes. 

Submission Guidelines  

Each set of documents should be submitted separately in sealed envelopes and then included in  a larger sealed package. This larger package must be mailed and emailed (soft copies along with  proof of mailing of hardcopies) to the following postal address no later than 14th May 2026.  Financial quotations must be password-protected. Following sets shall be submitted: 

i) Technical Pre-qualification requirements 

ii) Technical requirements

iii) Financial Quotation (password protected, in Microsoft Excel format, and in PDF  format) 

• Office Address: 1 E, Ali Plaza, Nazimuddin Road, D-Chowk, Islamabad, Pakistan • Email: [email protected] 

• Envelopes should be marked with RFQ no, title and bidder’s name

 

SECTION 5. FINANCIAL PROPOSAL FORMS 

Financial Template 

Table 1 (Mandatory)

28

1 Each Silver connection assumes MPLS connectivity link (leased line). 

Connectivity service includes all network and ancillary components (e.g., CPE router) to establish secure connectivity to SWIFTNet infrastructure and ensure  compatibility with the overall SWIFT connectivity solution. 

This will include Support & maintenance as per SLA

29 

Notes: 

1. Bidder must ensure that all mandatory requirements are delivered in line with the RFQ scope. 

2. Bidder must ensure completeness of costs shared.  

3. Split order may be placed as per Clause 24 – “Evaluation of Quotation Price and ranking”.

30 

SECTION 6 – GUIDING PRINCIPLES ON CONTRACT TERMS AND CONDITIONS 

1. Introduction  

The following section contains highly preferred guiding principles of the contractual terms and  conditions, which the successful bidder should adhere to. Please note that the detailed  conditions will be finalized during the contracting phase.  

2. The Bidder must adhere to the clauses below 

2.1 The successful bidder must comply with all relevant laws, rules and regulations  prevailing under Pakistani Laws. 

2.2 The responses submitted by the bidder to the RFQ represent a firm offer to contract  on the terms and conditions described herein. 

2.3 The quotation must be signed by the authorized person, according to the laws of the  jurisdiction of its incorporation/registration and according to the laws of Pakistan, to  commit the bidder to the terms and conditions of the RFQ, who shall have full authority to  sign the proposal documents on behalf of the bidder. 

2.4 The bidder must disclose at the earliest of any actual or potential conflict of interest  with Karandaaz Pakistan as referenced above. 

2.5 The bidder shall be deemed to have carefully examined the RFQ document to its  satisfaction. Any lack of information shall not in any way relieve the bidder of its  responsibility to fulfill its obligations under the RFQ. 

2.6 The bidder shall ensure that the confidential information shared by Karandaaz Pakistan hereunder this RFQ is kept confidential for perpetuity.  

2.7 The successful bidder will neither assign nor subcontract any work without the prior  approval in writing of Karandaaz Pakistan. Karandaaz Pakistan reserves the right to call  regular meetings of the successful bidder during the tenure of the contract.  

3. Performance Security 

3.1 Within twenty-eight (28) days of the receipt of the Letter of Acceptance from  Karandaaz Pakistan, the successful bidder shall furnish the performance security  amounting to 10% of the contract value (Supply, Installation, and Year - 1 Warranty), in  the form of unconditional, irrevocable and payable on first demand Bank Guarantee issued  by an AA rated bank. A foreign institution providing a Bank Guarantee shall have a  correspondent financial institution located in Pakistan unless Karandaaz Pakistan has  agreed in writing that a correspondent financial institution is not required. All costs  associated with the performance security shall be borne by the bidder. 

3.2 The performance security shall be submitted in USD. The performance security shall  be valid during the contract’s lifetime including the support and maintenance period and  until satisfaction of all claims of Karandaaz Pakistan. In case of assignment or execution of  contract or any part thereof to SBP or its nominated entity, the bidder shall provide  performance security of 10% of the contract value (Supply, Installation, and Year - 1  Warranty) to SBP or its nominated entity and the performance security submitted to  Karandaaz Pakistan shall be returned.

4. Fraud, Corruption and Terrorism 

4.1 Karandaaz Pakistan will have zero tolerance approach towards fraud and fraudulent  behavior during the procurement process and the implementation of the project itself and  will reject a proposal for award if it determines that the bidder or any of the agents,  suppliers or any personnel recommended for an award have engaged in Corrupt,  Fraudulent, Collusive, Coercive and Obstructive Practices as referenced in Section 3, Clause  32. 

4.2 The bidders must immediately and without undue delay inform Karandaaz Pakistan of  any event that interferes or threatens to materially interfere with the successful  implementation of this RFQ or the contract, including credible suspicion of the actual  fraud, bribery, corruption, or any other irregularity or impropriety, 

4.3 The bidder must immediately and without undue delay inform Karandaaz Pakistan if it  or any of its employees, agents, suppliers, or policies are inconsistent with the United  Nations Security Council resolutions or if the same has been blacklisted by any  organization, institution, Government or regulatory body anywhere in the world. 

4.4 Karandaaz Pakistan may at any time during the procurement process or after  successful procurement and during the lifetime of the contract and thereafter up to a  period of five year arrange for additional audits, on the spot checks and or/inspections to be carried out if they suspect Corrupt, Fraudulent, Collusive, Coercive and Obstructive  Practices. 

4.5 Karandaaz Pakistan will have zero tolerance approach towards terrorism and shall not  award the contract and cancel the procurement if it is determined that the bidder or any  of its personnel, agents or suppliers and or/their employees are, directly or indirectly  engaged in or support individuals, groups or entities associated with terrorism, including  but not limited to the following: 

• HM Treasury’s Office of Financial Sanctions Implementation-Financial sanctions  consolidated list of targets; 

• UK Home Office- Proscribed terrorist groups or organizations; 

• European Union- Consolidated list of sanctions; 

• United Nations- United Nations Security Council Sanctions List; 

• World Bank- World Bank Listing of Ineligible Firms and Individuals; 

• French DG Trésor Freeze Register Sanctions List. 

4.6 The bidder will not use funds provided under the contract directly or indirectly in  support of activities (a) prohibited by US laws related to combatting terrorism (b) with or  related to parties on the List of Specially Designated Nationals (www.treasury.gov/sdn); or  (c) with or related to the countries against which the U.S. maintains a comprehensive  embargo (currently, Cuba, Iran, (North) Sudan, Syria, and North Korea). Unless such  activities are fully authorized by the U.S. government under applicable laws and specifically  approved by Karandaaz at its sole discretion. 

 5. Subcontractor 

The successful bidder shall not utilize the services of any subcontractor as part of the  contract.

32 

6. Order Cancellation 

6.1 Karandaaz Pakistan reserves the right to cancel the contract and forfeit the  performance security, referenced in Clause 3 above, in the event of one or more of the  following situations: 

a. Delay in provision of the Services beyond the specified period as set out in the  contract; 

b. Serious discrepancy in the quality of Services; 

c. If the successful bidder or any of their agents, employees or any other personnel  makes any statement, submits any information or encloses any form which turns  out to be false, incorrect and/or misleading and or conceals or suppresses material  information in relation to the project; 

d. If the successful bidder or any of their agents, employees or any other personnel  do not comply with the necessary laws, regulations, licenses or certifications. 

7. Compliance with applicable laws 

7.1 The successful bidder shall undertake to observe, adhere to, abide by, comply with and  notify Karandaaz Pakistan about all laws, already in force as are made applicable in the  future, pertaining to or applicable to them, their business, their employees or their  obligations towards them and all purposes of this project. The successful bidder shall keep  indemnified, hold harmless, defend and protect Karandaaz Pakistan, its officers, staff,  agents and representatives from any omission on its part to do so and against all claims or  demands of liability and all consequences that may occur or arise for any default or failure  on its part to conform or comply with laws and all other statutory obligations arising there  from. 

7.2 The successful bidder shall promptly and timely obtain all such consents, permission,  approvals or licenses as may be necessary or required for any of the purpose of the project  or for the conduct of their own business under any applicable laws; regulations, rules,  guidelines and shall keep the same valid and in force during the term of the project and in  the event of any failure or omission to do so, shall indemnify, keep indemnified, hold  harmless, defend, project and fully compensate Karandaaz Pakistan and its employees,  officers, staff, personnel, representatives, agents from and against all claims or demands  of liability and all consequences that may occur or arise for any default of liability and all  consequences that may occur or arise for any default or failure on its part to conform or  comply with the above and all other statutory obligations arising there from and Karandaaz  Pakistan will give notice of any such claim or demand of liability within reasonable time to  the bidder. 

8. Representations and Warranties 

8.1 The successful bidder shall represent and warrant to Karandaaz Pakistan as follows: 

a. The quotation is signed by the authorized person, according to the laws of the  jurisdiction of its incorporation/registration and according to the laws of Pakistan,  to commit the bidder to the terms and conditions of the RFQ who has full  authority to sign the proposal documents and execute the contracts on behalf of the bidder;

33 

b. It will not contravene any provision of its documents of incorporation by  submitting its quotation under this RFQ; 

c. It and its agents, suppliers or employees will not violate or contravene any law,  rule, regulation, licensing requirement, order, writ, injunction or decree of any  court, governmental instrumentality or other regulatory, governmental or public  body, agency or authority by which it is bound or by which any of its properties or  assets are bound; 

d. It and its, agents, suppliers or employees possess the skills, experience, expertise  and ability to undertake and fulfill their obligation under all provisions of this RFQ; 

e. It shall not directly or indirectly engage in consultants, experts, or any personnel  from India and/or Israel and acquire any goods or services therefrom. 

f. Any services, functions or responsibilities not specifically described in this RFQ which form an inherent or necessary part of the deliverables or are required for  the provision of the deliverables or Services shall be deemed to be included as  part of the deliverables and will be provided by the successful bidder at no  additional cost to Karandaaz Pakistan; 

g. The entry into and performance according to this RFQ by the successful bidder  will not breach any contractual or other obligation owed by the successful bidder  to any other third party or any rights of any third party or any other legal  provision; 

h. It and its agents, suppliers or employees will obtain and maintain all appropriate  registrations, approvals, licenses and permissions that are statutorily required to  be obtained by the successful bidder during the course of the project; 

i. It and its agents or employees shall not infringe any of the Intellectual Property  Rights of any third parties during the provision of services for the project; 

j. It will assist Karandaaz Pakistan in procuring any registrations, permissions or  approvals, which may at any time during the course of the project be statutorily  required to be obtained by Karandaaz Pakistan for availing services from the  successful bidder; 

k. It and its agents, suppliers or employees neither have nor will engage in money  laundering, terrorist financing, weapon smuggling, anti-state activities and  neither have nor will maintain links with proscribed organizations including but  not limited to the organizations, individuals, firms in the List of HM Treasury’s  Office of Financial Sanctions Implementations, UK Home Office’s Proscribed  Terrorist Group and Organizations, European Union’s Consolidated list of  Sanction, United Nations Security Council Sanctions List and the World Bank’s list  of Ineligible Firms and Individual; 

l. It will not use any equipment not approved by Pakistan Telecommunication  Authority; 

m. It shall timely and diligently participate in all meetings required by Karandaaz  Pakistan;

34 

n. It and its agents, suppliers and employees shall observe the highest standard of  ethics during the term of the contract; 

o. It and its staff, consultants, employees or any personnel thereof will not directly  or indirectly engage in any Corrupt, Fraudulent, Collusive, Coercive or Obstructive  Practices; 

p. It shall exercise duty or care for the safety and wellbeing of its members,  employees, and consultants, any personnel assigned to perform the services for  the project. 

8.2 Each of the representation and warranty set out in Clause 8.1 above shall be  construed as a separate representation and warranty and shall not be limited or  restricted by reference to, or interference from, the terms of any other  representation or warranty in the RFQ or contract. 

8.3 If at any time Karandaaz Pakistan becomes aware that a representation or warranty  given by it under Clause 8.1 has been breached, has become untrue or has  become misleading, it shall without undue delay notify Karandaaz Pakistan of the  relevant occurrence in sufficient detail to enable Karandaaz Pakistan to make an  accurate assessment of the situation. 

 9. Indemnity 

9.1 The successful bidder shall indemnify, protect and hold Karandaaz Pakistan harmless  from and against all claims, losses, costs, damages, expenses (including reasonable  attorney fees) relating to or resulting directly from: 

a. An act or omission of the successful bidder, its employees, its agents, suppliers in  the execution of the project under this RFQ; 

b. Misappropriation of any third-party trade secrets or infringement of any of the  Intellectual Property Rights or such other statutory infringements in respect of all  components provided to fulfill the scope of the project; 

c. Claims made by successful bidder’s employees who are employed by the  successful bidder under the contract; 

d. Breach of confidentiality obligations of the successful bidder’s, agents, suppliers  and employees; 

e. Gross negligence or gross misconduct solely attributable to the successful bidder  or by any agency, supplier, contractor, or any of their employees by the successful  bidder for the purpose of any or all of the obligations under the contract; 

f. Any loss of data, loss of life etc. due to the successful bidder’s employees, supplier  and agents and not just arising out of gross negligence of misconduct; 

g. An act of omission or commission in performance of the services under the  contracts.

35 

 10. Records and Inspection 

a. The successful bidder shall complete, accurate and up-to-date records of all  activities carried out by it in relation to and for the purposes of providing its  services required for compliance by Karandaaz Pakistan with all applicable laws or  the requirements of the regulatory authorities under the laws of Pakistan. 

b. The successful bidder shall at the request of Karandaaz Pakistan and upon  reasonable notice allow duly authorized representatives of Karandaaz Pakistan,  any regulatory authority or Karandaaz Pakistan’s external auditor to inspect, copy  and/or audit the Records and or the manner of provision of the services and to  enter upon the successful bidders premises for these purposes during normal  working hours, under the supervision of the successful bidder for the purpose of  confirming compliance with the RFQ. 

c. The successful bidder shall provide Karandaaz Pakistan, the regulatory authority  or its external auditors with such further assistance as they may reasonably  require, provided that it does not materially affect the successful bidder’s ability  to provide the services in the normal course. 

 11. Confidential Information 

Any information whether or not marked as such which is disclosed by Karandaaz Pakistan  to the successful bidder or the successful bidder to Karandaaz Pakistan either orally or in  writing or by any other means, under or in connection with this RFQ (“Confidential  Information”), shall at all times from the date of disclosure till perpetuity: 

a. Not be disclosed to any third party without the express approval of Karandaaz  Pakistan; 

b. Not be used for any purpose other than as contemplated by terms of this RFQ and  the contracts; 

c. Not be made copies of or recorded in any way or part with its possession of any  document containing or recording any Confidential Information; 

d. Ensure that the successful bidder’s employees, suppliers or agents does any act  which if done by that party would be a breach of the provisions of this Clause 12. 

The successful bidder may disclose any Confidential Information of Karandaaz Pakistan to: a. Its client, employee or agent provided an undertaking is first obtained; 

b. A regulatory authority to which it is required to disclose the Confidential  Information in questions; or 

c. Any employee or officer of the Karandaaz Pakistan or any of the persons  mentioned in (a) and (b) above. 

To the extent only that the disclosure is necessary for the purposes of performing its  obligations or exercising or enforcing its rights under the RFQ and contracts, and in each  case subject to that party first informing the person in question that the Confidential  Information is confidential and (except where the disclosure is to a regulatory authority or  any employee or officer of any such body) obtaining and submitting to the other party a 

36 

written under-taking from the person in question, as nearly as practicable in the terms of  this clause, to keep the Confidential Information confidential and to use it only for the  purposes for which disclosure is made. 

 12. Penalties for Delay  

Karandaaz Pakistan can levy a penalty for up to 0.5% of the total contract value (Supply,  Installation, and Year - 1 Warranty) per week up to a limit of 10% of the total contract value (Supply, Installation, and Year - 1 Warranty) in case of late delivery against mutually agreed  timelines. Karandaaz Pakistan has the right to cancel the order in case the penalty exceeds  5% of the contract value (Supply, Installation, and Year - 1 Warranty). Only delays directly  attributable to the successful bidder would invoke such penalties. 

 13. Force Majeure 

a. The successful bidder and Karandaaz Pakistan will not be liable for any act, omission or  failure to fulfill its obligation under the contracts. If such act, omission or failure arises from  an event of force majeure, i.e. a natural disaster, act of God, coup, strike, lock out etc. The  party unable to fulfill its obligations will notify the other without undue delay in writing of  the reasons for its failure to fulfill its obligations due to the event of force majeure, any  damage or loss caused (or likely to be caused) and any proposed remedial action. 

b. The successful bidder and Karandaaz Pakistan will agree on the extent of any such  damage and loss and any remedial action and will, if necessary, vary the timeline for the  completion of the project accordingly. 

14. Termination  

Karandaaz Pakistan may at any time terminate the agreement without assigning any  reason by giving a 30-days’ notice of termination. The Parties agree that Karandaaz Pakistan shall compensate the successful bidder for the services rendered up to the  effective date of termination only for such services which shall be completed, in the sole  decision of Karandaaz, by more than 50%.  

15. Arbitration 

15.1 All disputes, differences or questions with respect to any matter arising out of or  relating to the project shall be resolved by both the successful bidder and Karandaaz Pakistan through mutual negotiations in good faith. Either party may inform each other  about any such dispute through a notice in writing specifying the issue in dispute or the  matter of difference, within fifteen (15) days following receipt of such a notice the  successful bidder and Karandaaz Pakistan shall endeavor to settle the issue through  amicable negotiations. In case the issue raised through the notice cannot be settled within  the period of fifteen (15) days from the date of issuance of notice with respect there to,  the issue or matter shall be referred to Arbitration as provided in Clase 15.2. 

15.2 The Arbitration shall be conducted in accordance to the Arbitration Act 1940.  Arbitration proceedings shall be conducted by a sole arbitrator appointed by mutual  agreement. The decision of the arbitrator shall be final and binding on the Parties. The  venue for arbitration shall be Islamabad, Pakistan and the language for arbitration  proceedings shall be English.

37 

Annexure - A 

QUOTATION SUBMISSION FORM 

Dear Sir/Madam, 

Having examined the Solicitation Documents, the receipt of which is hereby duly acknowledged,  “THE FIRM NAME” undersigned, offer to provide consulting for “INSERT REFERENCE NUMBER” to  Karandaaz Pakistan in accordance with the Price Schedule attached herewith and made part of this bid. “THE FIRM NAME” undertake, if our bid is accepted, to commence and complete delivery of  all services specified in the contract within the time frame stipulated. 

“THE FIRM NAME” agree to abide by this proposal for a period of 30 days from date fixed for  opening of bid in the invitation for quotation, and it shall remain binding upon us and may be  accepted at any time before the expiration of that period. 

We understand that you are not bound to accept any or all quotations you may receive. We also  accept all terms of conditions in this RFQ. We undertake that we will initiate the delivery of Services  as per the client’s request, if our bid is accepted.  

The contractor hereby confirms that it has not been involved and has no association in any manner  whatsoever related to any act of terrorism or terrorist organization(s)/person(s) listed in any  country and also in NACTA Schedules I & IV lists for proscribed companies and individuals and UN  terror list. 

We understand that you are not bound to accept any proposal you receive. Dated: this------day of -------2026 

Yours sincerely,  

Signature Name and title of signatory 

Name, Designation and Signature of the “firm / company authorized Representative”

38 

Annexure - B 

[LETTERHEAD OF THE ENTITY] 

UNDERTAKING REGARDING NOT BEING BLACKLISTED 

It is hereby certified that [Name of Organization] has not been blacklisted by any Govt,  Agency/authority as on [Date]. The Organization will immediately inform Karandaaz in case of any  change in the status at any time hereinafter.  

It is further certified that the bidder or any of its personnel, agents or, suppliers and/or their  employees are not directly or indirectly engaged in or support individuals, groups or entities  associated with terrorism, including but not limited to the following: 

a. HM Treasury’s Office of Financial Sanction Implementation-Financial sanctions consolidated list  of targets; 

b. UK Home Office- Proscribed terrorist groups or organisations; 

c. United Nations- United Nations Security Council Sanctions List; 

d. World Bank- World Bank Listing of Ineligible Firms and Individuals; 

e. European Union- Consolidated List of Sanctions; 

f. Parties on US Treasury’s Office of Foreign Assets Control (OFAC) List of Specially Designated  Nationals and Blocked Persons; 

g. National Counter Terrorism Authority (NACTA)- Proscribed Organizations List; h. National Counter Terrorism Authority (NACTA)-Proscribed Persons List; i. French DG Trésor Freeze Register Sanctions List. 

Name of Signatory:  

Signature of Authorized Signatory  

Date: __/___/____  

Company stamp: 

39 

  

Annexure C 

REFERENCE FORMAT 

Name of Bidder: __________________________________

40 

  

Annexure D 

CONFLICT OF INTEREST 

1. Does your organization currently have any actual or potential conflict of interest with Karandaaz Pakistan? 

☐ Yes ☐ No 

2. Does your organization have any conflict of interest as defined in Clause #33 “Avoidance of  Conflict of Interest” of the RFQ? 

☐ Yes ☐ No 

3. Has your organization disclosed any actual or perceived conflict of interest to Karandaaz Pakistan? ☐ Yes ☐ No 

4. Do you understand and accept that if a conflict of interest is identified, your organization may be  disqualified from the procurement process: 

☐ Yes ☐ No 

*Conflict of interest is defined in Clause 33 “Avoidance of Conflict of Interest” of the RFQ. 

Name 

Designation 

Signature & Stamp 

Date

41 

  

Annexure E 

Related Party Disclosure 

1. Is your firm/organization a Related Party of Karandaaz Pakistan: 

☐ Yes ☐ No 

2. Does your firm/organization have a partner who is also a Karandaaz Pakistan director, manager,  or his / her relative2: 

☐ Yes ☐ No 

3. If your firm/organization is a private company, does it have a member or director who is also a  director or manager of Karandaaz Pakistan: 

☐ Yes ☐ No 

4. If your firm / organization is a public company, is a director or manager of Karandaaz Pakistan  also a director of your firm / organization, or does a Karandaaz Pakistan director or manager or  his / her relatives hold any shares of your firm / organizations paid-up capital: 

☐ Yes ☐ No 

5. Is the chief executive or manager of your firm / organization accustomed to act in accordance  with the advice, directions or instructions of a director or manager of Karandaaz Pakistan (other  than advice, directions, or instructions given in a professional capacity): 

☐ Yes ☐ No 

6. Is a director or manager of Karandaaz Pakistan accustomed to act in accordance with the advice,  directions or instructions of your firm / organization or a director or manager thereof (other  than advice, directions, or instructions given in a professional capacity): 

☐ Yes ☐ No 

2 Here relative is taken to mean: the spouse, siblings, lineal ascendants and descendants of a person.

42 

  

7. Is your firm / organization a holding company, subsidiary company, or associated company of  Karandaaz Pakistan, or a subsidiary of a holding company of Karandaaz Pakistan: 

☐ Yes ☐ No 

Name  

Designation  

Signature & Stamp  

Date  

Note: If you have answered yes to any of the questions # 1 – 7, please provide the following minimum  information (Karandaaz Pakistan reserves the right to request additional information at its discretion).