Tier-1 Vendors Can discharge Offset obligations on behalf of Prime Vendor |
Written by Anand | |
Wednesday, 07 December 2011 | |
New Delhi: Tier-1 sub vendors are now officially allowed to discharge offset obligations on behalf of the prime vendor. The Ministry of Defence added this clause in the third amendment to the Defence Procurement Policy - DPP 2011. "Tier-1 sub vendors will be allowed to discharge offset obligations to the extent of their work share (by value), on behalf of the main/prime vendor. However, overall responsibility and liability for discharge of offset obligations shall continue to remain with the main/prime vendor," states the new para 1.7. The addition was made in Appendix D to Chapter 1 of DPP-2011. The change will come into force with immediate effect. |
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