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S. No. Clause No Page No Clause Query Bank Response
1Bid Details 5
Last date and time for submission of Bidding
Document We would be needing extension for submission for minimum 10 working
days.
Please be guided by terms of RFP
2 1. Introduction 8 As the solution would be deployed in India product
should be already operational in India. The
OEM/bidder should have integration experience
with Finacle Core Banking and SWIFT and must have
capability for integrating with Finacle Treasury
system and RET_AD (Reuters Electronic Trading
Automatic Dealing)
Request bank to consider," As the solution would be deployed in India
product should be already operational in India. The OEM/bidder should
have integration experience with industry standard Core Banking and
SWIFT and must have capability for integrating with Industry standard
Treasury system and
RET_AD (Reuters Electronic Trading Automatic Dealing)".
The para to be read as "As the solution would be deployed in India product should be already operational
in India. The OEM/bidder should have integration experience with industry standard Core Banking and
SWIFT and must have capability for integrating with Industry standard Treasury system and RET_AD
(Reuters Electronic Trading Automatic Dealing)"
3 4 9 Page 9 Invitation of Tender Bids,
Page 36 , 16.2.3 Other Terms and Conditions of RFP
Given the complex nature of the services involved we will request the Bank
to allow deviations to the RFP which will enable us to submit a
commercially competitive and responsive bid.
Please be guided by terms of RFP
4 5. Eligibility
Criteria
10 5.8 The Bidder or OEM/OSD should be having
experience of Trade Finance solution
implementation of minimum 2 commercial banks
one of which must be in India. (Bidder should
submit Performance Certificate issued by
Customers for experience in execution of Trade
Finance Solutions having start date and end date of
project)
Request bank to consider,"The Bidder or OEM/OSD should be having
experience of Trade Finance solution implementation of minimum 2
commercial banks/BFSI/PSU subsidaries/Financial instituions one of which
must be in India. (Bidder should submit Performance Certificate issued by
Customers for experience in execution of Trade Finance Solutions having
start date and end
date of project)
Page 10 para 5.8 to be read as :-"The Bidder or OEM/OSD should be having experience of implementation
of Trade Finance solution or its required components mentioned in this RFP i.e. Digitisation of Trade
Finance, Trade Finance Processing, Supply Chain Finance and Reporting/MIS of Trade Finance system in
Commercial Bank/ Financial Institution/BFSI/PSU Subsidiaries" (Bidder should submit Performance
Certificate issued by Customers for experience in execution of Trade Finance Solutions or its required
components having start date and end date of project)
Annexure D Page 71 Point No 9 to be read as:- "The Bidder or OEM/OSD should be having experience of
implementation of Trade Finance solution or its required components mentioned in this RFP i.e.
Digitisation of Trade Finance, Trade Finance Processing, Supply Chain Finance and Reporting/MIS of
Trade Finance system in Commercial Bank/ Financial Institution/BFSI/PSU Subsidiaries"
(Bidder should submit Performance Certificate issued by Customers for experience in execution of Trade
Finance Solutions or its required components having start date and end date of project)
5 6. Broad Scope 11 6.2.1. Subscription base license for all the modules
offered without any constraint on the number of
branches / customers or users for the Bank‘s
operations in India. Subscription base license
includes ATS and all upgrades (both minor and
major) of softwares during the period of
subscription. Present contract of subscription will
be for 5 years. This contract may be renewed by
parties with mutual consent before the expiry of
contract period for further period of 5 year
contract or more with mutually acceptable rate
which are in line with existing rate.
Request bank to consider," 6.2.1. Subscription base license for all the
modules offered without any constraint on the number of branches /
customers or users for the
Bank‘s operations in India. Subscription base license includes ATS and all
upgrades (both minor and major) of softwares during the period of
subscription. Present contract of subscription will be for 5 years. This
contract may be renewed by parties with mutual consent before the expiry
of contract period for further period of 5 year contract or more
with mutually acceptable rate as per industry standards.
Please be guided by terms of RFP
Corrigendum 1 for RFP for Supply, Configure, Customize, Implement, Integrate and Maintain the Trade Finance Solution
Page 1 of 27
S. No. Clause No Page No Clause Query Bank Response
6 6.4 11 The vendor is expected to provide the solution
including middleware, facility management,
training, third party utilities and installation,
testing, migration, providing requisite interfaces
and provide technical support for a period of 5
years
Is Middleware, Facility Management, 3d party utilities to be part of the
vendor scope. As a vendor we will be providing the core application of
trade and supply chain and not the Middleware, Facility Management, 3d
party utilities. Hope the same is okay with the bank?
Please be guided by terms of RFP
7 6. Broad Scope 12 6.5. Proposed solution expected to be completed
within 9 months from the start date of
implementation, in a phased manner
Request bank to consider at least giving 12 months implementation period
considering the scope of work involved in the project.
There is flexibility in RFP. Please be guided by terms of RFP
8 6. Broad Scope 12 6.6. The vendor to design & size the hardware
required at DC (Including
Test/Development/Training), & DR. The vendor is
to provide the complete hardware requirement for
the end-to-end functioning of the solution. The
Vendor should provide complete details of the
hardware, software and network architecture of
the solution offered by means of diagrammatic/
pictorial representations, including the project plan
for going live. Vendor should also provide security
set-up proposed in the solution and various layers
of risk identification and mitigation measures.
Request bank to provide more clarity on the points related to security set-
up proposed in the solution and various layers of risk identification and
mitigation measures.
Will be shared with successful bider
9 6.6 12 The vendor to design & size the hardware required
at DC (Including Test/Development/Training), &
DR.
Are there any other environments to consider apart from Dev, Test,
Training, UAT, Prod & DR?
Please be guided by terms of RFP
10 6.18 15 The Trade finance solution should able to integrate
with AML and other watch lists on real time basis at
the time of transaction. (including OFAC, US/EU
Sanctions)
Request to provide the integration/connectivity details Integration would be through APIs or WebServices or through other interfacing technology. Successful
bidder has to co-ordinate with Bank officials and respective application vendors for the integration.
11 6.42 17 The vendor shall do proactive monitoring and
capacity planning
Bank to bring monitoring tools and provide for necessary configuration for
application monitoring in the tool
Bank will not provide monitoring tool.Please be guided by terms of RFP
12 6.39 17 The trade finance solution’s portal must support
Hindi language including online help / tutorials for
guiding customers on functions / searches. Bank
will provide the content.
Trade Finance Solution's portal will support Hindi Language, however, OCR
capability will only be applicable to documents in English. Please Confirm
Correct, OCR capability will be in English Only
13 6.41 17 The Vendor should host the solution at Bank's
premise / advised premise in High Availability
mode, along with DR and a minimum uptime time
of 99.9 %.
Please confirm if DR will be cold/passive? DC/DR will be active active mode
14 6.42 17 Broad Scope We request that any changes to the scope of the Project be handled with
mutual agreement via project change request mechnism.
Please be guided by terms of RFP
15 6. Broad Scope 17 6.37. The Vendor should provide a separate Test/
Development/ UAT
environment.
Request bank to provide percentange of the respective environment
required by the bank as of in DC.
Test, Development and training enviornment may be planned with 50% capacity of DC
Page 2 of 27
S. No. Clause No Page No Clause Query Bank Response
16 6. Broad Scope 17 6.44. The Vendor is also required to quote for
supporting software and the same will be
considered for commercial evaluation. However,
the Bank reserves the right to procure it from their
empanelled vendors and not take from the Vendor.
Request bank to provide additional line items in the commercial format for
supporting softwares as optional table in order to clearly indicate the
component , quantity and pricing for the same.
There is Annexure Q to specify Bills of Material to specify compnent and quantity
17 6. Broad Scope 17 6.51. The Vendor should provide API’s to the Bank
that are compatible with its applications and have
capability to integrate Bank’s different applications
with the trade finance solution
Request bank to provide the list of existing banks application needs to be
integarted with the proposed solution.
Please be guided by terms of RFP
18 6.38 17 The Vendor has to migrate required data for the
relevant product/module of the Trade Finance
System from CBS (Finacle Core).
What is the size of data and for how many years? What is the source
database(s)?
Will be shared with successful bider
19 6.67 19 Broad Scope We will request a copy of the cyber security policy for the purpose of
evaluating compliance with this clause.
Will be shared with successful bider
20 6.69 20 All the patches/fixes/updates, version upgrades of
all the software components released by the
Principal OEM during the contract period should be
provided
As per standard industry practice, patches / fixes / updates which are
provided free of cost by OEMs will be provided free of cost to bank. Any
version upgrades should be treated as Change Request.
For Enterprises Perpetual Licences software minor version upgrade will be without any additional cost
during the contract period, while major upgrade will be treated as change rquest. While for Subscription
License software all major as well as minor version upgrade will be without any additional cost during
the contract period.
21 6.69 20 Broad Scope We request that any changes to the scope of the Project be handled with
mutual agreement via project change request mechnism.
Please be guided by terms of RFP
22 6. Broad Scope 20 6.69. All the patches/fixes/updates, version
upgrades of all the software components released
by the Principal OEM during the contract period
should be provided. The Vendor should ensure
implementation of all the patches/ fixes/ updates
and version upgrades in the production environment
to the latest version during the contract period
without any additional cost to Bank.
Request bank to consider, " All the patches/fixes/updates, version
upgrades of all the software components released by the Principal OEM
during the contract period should be provided. The Vendor should ensure
implementation of all the patches/ fixes/ updates without any additional
cost to Bank and version upgrades in the production environment to the
latest version during the contract period at the mutusally agreed
commercials and terms.
Please be guided by terms of RFP
23 6. Broad Scope 20 6.74. If the bank desires to upgrade to higher
version of database or hardware, the vendor shall
be required to comply with banks requirement. The
Trade Finance solution should support the database
and hardware version proposed by the bidder and
provided by Bank. Bank will take care of hardware
and database upgrade activity. The Vendor has to
ensure that the application should be compatible
with hardware and database etc.
Request bank to consider for efforts involved from the bidder side to
ensure the application compatiblity with hardware and data base at the
mutually agreed commercial based on effort if any.
Please be guided by terms of RFP
Page 3 of 27
S. No. Clause No Page No Clause Query Bank Response
24 6.69 20 All the patches/fixes/updates, version upgrades of
all the software components released by the
Principal OEM during the contract period should be
provided. The Vendor should ensure
implementation of all the patches/ fixes/updates
and version upgrades in the production environment
to the latest version during the contract period
without any additional cost to Bank.
It is assumed that UBI will be responsible for
provisioning/hardening/patches/fixes/updates, version upgrades for
Hardware, Infra, network, OS. Please clarify.
Bank is responsible for hardware and Operating systems patches. However, bidder has to ensure the
patches/fixes/updates, version upgrades of all the software components released by the Principal OEM.
25 6. Broad Scope 21 6.81. The Trade Finance Solution should provide
Online Help to guide corporate during input. The
solution should provide option to save “incomplete”
transaction to be retrieved for further input. It
should also allow for a quick save without all the
controls to be performed
Request bank to more clarity on the mentioned point Please be guided by terms of RFP
26 6.83 21 The Application architecture should have the ability
to increase the number of concurrent instances to
keep the application server parameters below 70%
utilization (CPU, Memory, Hard disk, etc.)
Does the current infra environment supports auto scaling? If yes, then do
you intend to leverage it and prefer vendor to propose solution factoring
the auto scaling capability
Application should support leveraging of scaling seemlessly.
27 6.92 22 Broad Scope We request a copy of the "Customer’s Cryptographic Key Management
Guidelines" to ensure compliance.
Will be shared with successful bider
28 9.1 24 There should be at least 2 technical experts for the
period of 2 years from Go Live of whole project
"Golive of whole project" does it equate to Phase III Go-live as mentioned
under section 10.3
It will be from Go Live Closure Sign Off Date
29 9.1 24 There should be at least 2 technical experts for the
period of 2 years from Go Live of whole project
If "Golive of whole project" stand for Phase III as mentioned under section
10.3 then Who will provide support after the Golive of Phase I till The
Golive of Phase III ? OR In another words who will provide support between
the period of First Golive till the Whole Project Golive ?
Till the date of Go Live Closure Sign Off, the project will be treated as under implementation period. As
such the implementation team of Vendor suppose to provide the support during implementation period.
30 8 24 Volumetric and Infra related Queries Trade Finance
1. Number of accounts/Customers for Trade finance
2. Number of Trade finance users
3. Number of Trade finance Concurrent users
4. Number of Trade finance transactions on a daily basis ( Average/ Peak )
Trade Finance (Approx)
1. Number of accounts/Customers for Trade finance- 10000
2. Number of Trade finance users - 60000
3. Number of Trade finance Concurrent users-20000
4. Number of Trade finance transactions on a daily basis ( Average/ Peak )-15000/30000 average/peak(
This include all transaction including digitisation/supply chain/reporting/payment etc)
31 8 24 Volumetric and Infra related Queries CLMS
1. Total Number of Accounts
2. Total Number of Customers
3. Number of branches
4. Number of users per branch for CLMS
5. Number of Concurrent users per branch for CLMS
6. Total Number of peak Transactions per day for CLMS
Collateral Management System Trade Finance (Approx)
1. Total Number of Accounts-100000 + (LC/BG/Bills/PC/Foreign/Inland/Forward)
2. Total Number of Customers- 10000 +
3. Number of branches- 9000 +
4. Number of users per branch for CLMS- 4
5. Number of Concurrent users per branch for CLMS- 2
6. Total Number of peak Transactions per day for CLMS- 15000 average
Page 4 of 27
S. No. Clause No Page No Clause Query Bank Response
32 8 24 Volumetric and Infra related Queries Payments
1. Online Payment transactions per day.
2. Peak Online Payment transactions per day.
3. Batch transactions per day (via File Upload)
4. Peak batch transactions per day (via File Upload)
5. Average File Size (in KB)
6. Average number of transactions per file
7. What is the typical time window in which the transactions need to be
processed ( e.g. 4 Hrs., 8 Hrs., 24 Hrs.). This is to determine the TPS
(Transaction Per second) requirements of the solution.
Volume already Included in the total Trade Finance Transactions. Within which Payment transactions per
Day-( Swift messages Payment Outward)- average 2000 per day. Rest of the information will be shared
with successful bidder during implementation phase.
33 8 24 Volumetric and Infra related Queries Supply Chain Finance
1. Number of accounts/Customers for Supply Chain finance
2. Number of Supply chain finance users
3. Number of Supply chain finance Concurrent users
4. Number of Supply chain finance transactions on a daily basis ( Average/
Peak )
Supply Chain Finance (Approx)
1. Number of accounts/Customers for Supply Chain finance- 250
2. Number of Supply chain finance users - 1000
3. Number of Supply chain finance Concurrent users- 250
4. Number of Supply chain finance transactions on a daily basis ( Average/ Peak )- 1000/3000
34 8 24 Volumetric and Infra related Queries General Infra queries
1. Preferred Application Server ( WebSphere / WebLogic)
2. Please confirm if bank is looking for Active-Active or Active-Passive
Cluster for DC
3. Please confirm if bank is looking for Active-Active or Active-Passive
Cluster for DR
4. Platform preference ( RISC / Intel )
5. Do we need to consider any migration data to the new system , if yes
please provide the sizing of the data to be migrated ,
6. What is the RTO and RPO expectation for the application
7. Year on Year Growth Rate
8. Please confirm if Bank also provide the Oracle WebLogic License
9. Please confirm if Bank also provide the Oracle RAC license
1. Please be guided by terms of RFP
2. Active-Active cluster for DC
3. Active-Active Cluster for DR
4. Will be shared with Successful bidder
5. Will be shared with Successful bidder
6. Please be guided by terms of RFP(Point 8.7)
7. 15%
8. NO
9. YES
35 8.3.2 24 Data Centre (DC) - Test, Development and Training Request to share any capacity levels of these environments compared to
production environment
DR should be planned as same replica of DC. However, Test, Development and training instances may be
planned with 50% capacity.
36 8.3 24 8.3. The Vendor has to provide necessary
requirement of infrastructure (Servers / OS /
Database / Middleware etc. which are required for
the system) as under:
8.3.1. Data Centre (DC) – Production
8.3.2. Data Centre (DC) - Test, Development and
Training
8.3.3. Disaster Recovery Site (DR)
What is the % configuration with respect to production(DC) to be
considered for non production environment? For example, DR needs to be
considered Same as DC, while UAT can be considered to be 50% of DC
DR should be planned as same replica of DC. However, Test, Development and training instances may be
planned with 50% capacity.
Page 5 of 27
S. No. Clause No Page No Clause Query Bank Response
37 8.5 24 8.5. Expected Application Response Time:
8.5.1. Static Page loading like login page - < 2
Seconds
8.5.2. Executing search and rendering search result
on application user interface - <5 Seconds
8.5.3. Viewing of report of size <1 MB – 5 Seconds.
8.5.4. Making transaction on the system report
generation - <5 Seconds
For the performance parameters mentioned, the same should be tested in
the performance test / Pre-production server before going live.
Recommend a pre-prod / performance test environmnet for the same. Or
the UAT should be scaled up so that the performance testing can be
conducted
UAT will be scaled up for conducting performance testing.
38 8.4 24 Hardware Sizing and Performance Required Please mention the concurrent users for Digitization Solution (Capture ,
Workflow, Rule Engine Solutions ). Please specific the number of users for
Digitization Solution (Capture, Workflow, Rule Engine)
The digitization solution will also be extended to front end user (Bank customer). Further Bank
Branches/Offices which are 9000+ in numbers. The users at these Bank Branch/Office will be accessing
digitisation solution. The number of registered users may be 30000+ and during business peak time the
concurrent users may be taken arround 60% of it.
39 8. Hardware Sizing
and Performance
Required
24 8.1. The proposed solution shall be hosted on
Bank’s on-premise hyper-converged cloud in Red
Hat Linux OS version 7. However, solution should
have capability to migrate to any other platform as
per the Bank’s requirement. Bank shall provide
Hardware, Operating System and Oracle Database.
However, the selected bidder has to complete
Installation, Configuration, Customization, Up-
gradation, Maintenance and Support of Trade
Finance Solution.
Request bank to clarify if the bidder needs to provide facility management
services for the hardware, os, db , storage. If yes, request bank to clarify
the no. Of resources required in each shift and the no. Of shifts for the
same.
Please be guided by terms of RFP
40 9. Onsite Support 25 9.1. There should be at least 2 technical experts for
the period of 2 years from Go Live of whole project
for on-site support who are conversant with the
Trade Finance Solution’s Operation (technical as
well as functional) at
Mumbai 24x7 without any additional cost such as
travelling, lodging, resources etc. for minimum of
24 months. However, in case of business
requirements, vendor may be asked to depute the
additional resources. The on-site support should
extend to services like helpdesk, system backup,
data backup, user management, database
management / maintenance, updation of data,
maintaining integrity of data, loading application
upgrades, technical support for ad-hoc queries,
archival of data etc. Query/ issue raising and
escalation process system should be in place.
Request bank to clarify as per the commercial format bank has requested
commercial for 4 technical onsite resources. We request bank to clarify the
number of resouces required.
Be guided by commercials format for onsite 4 resources costing is required. However Bank may choose to
increase or decrease the number of resources as per requirement.
41 12 26 Disaster Recovery We understand that shifting of solution from the DR site will be handled via
the PCR process.
Bidder will be responsible for all activities to be performed for DC, DR, UAT, Training, Development.
Bidder to ensure support for the same at any point of time during the contract period without any
additional cost.
Page 6 of 27
S. No. Clause No Page No Clause Query Bank Response
42 11 26 11.1. The Vendor has to complete the rollout of
each phase of project before the
period/due dates as agreed by the Bank as per
projection given in proposal
by Vendor. Bank expects to implement the whole
project within 9 months
from the date of start of implementation. If the
Vendor is not able to
complete the implementation & rollout of the
phases in time lines agreed
then the bank shall levy penalty charges on the
Vendor as per Liquidated
Damages clause (Refer Clause 20.0 of this RFP).
9 Months looks very limited to implement. Hope there is a window for the
extension while at the contracting stage both for the phases and timelines
Please be guided by terms of RFP
43 13.2 26 13.2.1, 13.2.2, 13.2.3 Hope the PBG amount is capped to the 3% of the contract value as per the
government of the ministry of finance circulated which is applicable till
Dec'2021. Hope the same is applicable
Please be guided by terms of RFP
44 11 26 Penalty for not meeting timelines,
Page 57 , 37 Penalty
We request that the aggregate of all SLA, LD’s penalties etc. should be
capped to 10% of the TCV and should be applied as a sole remedy for
reasons solely attributable to the Bidder.
Please be guided by terms of RFP
45 13.2 27 PBG We will request that PBG be invoked only upon termination of the
Agreement due to material breach by the Bidder.
Please be guided by terms of RFP
46 13.4 28 Period of Validity of Bids We will request that the Bid validity be for a period of 60 days. Please be guided by terms of RFP
47 14.2.1 30 Within 9 Months -100% i.e. 10 Marks In this statement "9 Months" is representing to which phase as defined
under 10.3
It is implimentation period. From date of start of implementation period till the Date of Final Go Live
Closure sign Off Date.
48 16.2.3 36 16.2.3. The terms and conditions as specified in the
RFP and addendums (if any) thereafter are final
and binding on the bidders. In the event the bidder
is not willing to accept the terms and conditions of
the Bank, the bidder may be disqualified. Any
additional or different terms and
conditions proposed by the bidder would be
rejected unless expressly assented to in writing by
the Bank and accepted by the Bank in writing.
In the event bidder wishes to propose its standard terms please help us to
understand how these can be proposed?
Please be guided by terms of RFP
49 16.2.4 37 16.2.4. The successful bidder ……………………... The
liability in such an event could be limited to the
differential excess amount spent by the Bank for
procuring similar deliverables and services.
The vendor would like to propose their own standard terms Please be guided by terms of RFP
Page 7 of 27
S. No. Clause No Page No Clause Query Bank Response
50 16.2.5 37 16.2.5. The bidder shall…………………………… If
any services, functions or responsibilities not
specifically described in this RFP are an inherent,
necessary or customary part of the deliverables or
services and are required for proper performance
or provision of the deliverables or services in
accordance with this RFP,
they shall be deemed to be included within the
scope of the
deliverables or services, as if such services,
functions or responsibilities were specifically
required and described in this RFP and shall be
provided by the bidder at no additional cost to the
Bank............................... final contract
We would suggest to exclude the clause from the RFP as until and unless
the scope is not defined, it would be difficult for the vendor to finalize the
pricing
Please be guided by terms of RFP
51 16.2.6 38 Other Terms and Conditions of RFP We understand that the term "laws or Regulations under any governmental
or judicial authority" here means all laws which are generally applicable to
the Bidder as provider of information technology services. Please confirm.
We understand the Highest Industry Standards means the identification
and application of proven techniques and tools from the Bidders
experience of providing similar services to other Banks in the country.
Please confirm.
Correct
52 16.3.17 42 Other Terms and Conditions of RFP We request that any changes to the scope of the Project be handled with
mutual agreement via project change request mechnism.
Please be guided by terms of RFP
53 16.3.17 42 16.3.17. The implementation price payable to the
Bidder shall be inclusive of carrying out any
modifications changes / upgrades to the application
and other software that is required to be made in
order to comply with any statutory or regulatory
requirements or any industry-wide changes
arising till finalisation and sign off of requirements
by bank during the implementation phase of the
contract/ agreement
Hope this is confined to whatever is defined in the scope. Please be guided by terms of RFP
54 19 45 RFP Response We request deletion of this clause. The bids are the IP of the Bidder and
are being provided to the Bank solely for it's internal evaluation purposes.
The same should not be shared with other bidders without prior consent of
the Bidder.
Please be guided by terms of RFP
Page 8 of 27
S. No. Clause No Page No Clause Query Bank Response
55 20.3 46 LD for delay in completion of the Service(s)
(Implementation) for each week of delay beyond
the scheduled completion date or part thereof will
be a sum equivalent to 0.5% of the cost of the
particular phase of implementation cost inclusive of
all taxes, duties, liveries etc.
Bidder request that the penalty shall be on the cost exclduing taxes, duties
etc
Please be guided by terms of RFP
56 21.2 46 Warranty will start from the date of full go- live
and will be valid for a period of one year.
What is the definition of "Full Go-live" ?
Is it equal to "Golive of Phase III" as mentioned under section 10.3
Full Go Live means Go Live Closure Sign Off Date. Till the date of Go live Closure Sign off it is
implementation period. Warranty period will start after the end of implementation period.
57 21.2 46 Warranty for software will start from the date of
final signoff (go-live) of the by the Bank.
What is the definition of "final signoff (go-live)" Does it a golive signoff of
Phase III as defined under section 10.3
Final Sign Off(Go Live) means GO Live Closure Sign Off
58 20.Liquidated
Damage (LD)
46 20.4. Part of week will be considered as full week. Request bank to remove the mentioned clause as it is very stingent on the
bidders part
Please be guided by terms of RFP
59 20.Liquidated
Damage (LD)
46 20.3. LD for delay in completion of the Service(s)
(Implementation) for each week of delay beyond
the scheduled completion date or part thereof will
be a sum
equivalent to 0.5% of the cost of the particular
phase of implementation cost inclusive of all taxes,
duties, liveries etc. Particular phase
implementation cost is linked against each phase
payment schedule based on implementation
plan proposed by Vendor and agreed by Bank. In
case of undue delay beyond a period of 15 days
after attaining the maximum penalty of 10% of total
project cost, during implementation, Bank may
consider termination of the
contract or purchase order.
Request bank to consider, "LD for delay in completion of the Service(s)
(Implementation) for each week of delay beyond the scheduled completion
date or part thereof will be a sum
equivalent to 0.1% of the cost of the particular phase of implementation
cost
inclusive of all taxes, duties, liveries etc. Particular phase implementation
cost is linked against each phase payment schedule based on
implementation plan proposed by Vendor and agreed by Bank. In case of
undue delay beyond a period of 30 days after attaining the maximum
penalty of 5% of total project cost, during implementation, Bank may
consider termination of the contract or purchase order".
Please be guided by terms of RFP
60 20 46 20.1 to 20.9 We understand that this will be applicable only in cases of failure solely
attributable to bidder.
Further this clause has few clauses related to liability and indemnity clause
which are the separate clauses and therefore can be covered therein.
Therefore we would suggest to agree this clause at the contracting stage
Please be guided by terms of RFP
Page 9 of 27
S. No. Clause No Page No Clause Query Bank Response
61 21 47 Warranty We understand that the term Applicable Law here means all laws which are
generally applicable to the Bidder as provider of information technology
services. Please confirm. We understand the Industry Best practice means
the identification and application of proven techniques and tools from the
Bidders experience of providing similar services to other Banks in the
country. Please confirm. We understand that there are no other expressed
or implied warranties.
Please be guided by terms of RFP
62 23 48 1. Annual Technical SupportThe ATS charges shall
be released to the vendor quarterly in advance
subject to timely submission of applicable
documents like invoice, performance availability
reports etc.
23.2.The Bank reserves the right to terminate the
ATS (if contracted) by giving Successful Bidder, a
prior and written notice of one month indicating its
intention to terminate the Contract, if the services
rendered by the vendor(s) are not satisfactory.
As the bidder has to make payment to OEMs for ATS in advance annually,
hence the bidder request ATS payment to be yearly in advance.
Please be guided by terms of RFP
63 23.3 48 23.3. Not following all that is mentioned above, the
Bank reserves the right to outsource the software
maintenance work to a third party or the bank may
decide to perform the same through its internal
resources. Whatever the
case may be (either third- party maintenance or
maintenance through internal resources), the
vendor(s) shall provide requisite maintenance
training, technical know-how, and expert assistance
to the persons and/or
agencies, duly authorized by the Bank for this
purpose with no extra cost to bank.
The software being proprietary product of the bidder it would not be
possible to provide access of know how to third party. Please help us to
understand this requirement further.
Please be guided by terms of RFP
64 25 49 Payment Terms We request the Bank be responsible for paying a late payment fee of 2%
per month for delayed payments. The bidder should be allowed to suspend
the services if the payments are not made within the due date.
Please be guided by terms of RFP
Page 10 of 27
S. No. Clause No Page No Clause Query Bank Response
65 25.Payment Terms 49 25.1. Software Licenses :- The terms of payment for
software license which are payable within
Implementation Period are as follows
25.1.1. 50% of the license cost on delivery of
Software Licenses plus 100% of taxes (GST, etc.) at
actuals. The required documents to be provided
along with original invoice:
25.1.1.1.Original delivery Challans duly stamped
and signed by the Bank Official.
25.1.1.2.Original receipt of tax invoices (GST etc.).
25.1.2. 25% of the license cost on successful
installation of Software, duly confirmed by Bank
Official.
25.1.3. 15% of the license cost after Go-Live sign off
from Bank. Go Live Sign Off should be signed by
both Bank’s identified Project Manager & vendor
representative. The payment mile stone of Go-Live
sign off will be equally divided among no of Phases.
Example if there are three Phase then
25.1.3.1.After Phase-I Go-Live Sign Off- 5%
25.1.3.2.After Phase-II Go-Live Sign Off- 5%
25.1.3.3.After Phase-III Go-Live Sign Off- 5%
25.1.4. 10% of the license cost after Go-Live closure
signoff from Bank. Go Live Closure Sign Off should
be signed by both Banks identified ProjectManager
& vendor representative. Operational Issues will be
part of Managed Services and not part of Go-Live
Sign Off.
We propose the following amendment to payment terms :
01.On signing the contract 35%
02.On Successful installation of Solution:30%
03.On UAT signoff and training:25%
04 After 3 months of Successful Go live: 10%
Please be guided by terms of RFP
Page 11 of 27
S. No. Clause No Page No Clause Query Bank Response
66 25.2.
Implementation
Cost (OTC):-
49 25.2. Implementation Cost (OTC):-
25.2.1. 15% of Implementation cost will be linked to
completion of detail requirement study/gathering
implementation plan, various document/manual
preparation, UAT test cases preparation, Training
etc. this will be mutually agreed with Bank’s
identified Project Manager & vendor
representative.
25.2.2. 75% of Implementation cost will be equally
divided among number of Go Live Phases. The
number of Go Live Phases will be mutually agreed
between Banks’s identified Project Manager &
vendor representative as per implementation plan
agreed by them. Further with in each Go Live Phase
the amount will be equally divided among following
three sub payment mile stones
25.2.2.1.User Acceptance Test Sign Off for all the
module/ products of the relevant Go Live Phase.
25.2.2.2. After 50% Branches Go-Live Sign-Off with
all the module/products of the relevant Go Live
Phase.
25.2.2.3.After 100% Branches Go-Live Sign-Off with
all the module/products of the relevant Go Live
Phase.
25.2.3. 10% after one year of Go-Live closure
signoff from Bank.
We propose the following amendment to payment terms :
01.On signing the contract 35%
02.On Successful installation of Solution:30%
03.On UAT signoff and training:25%
04 After 3 months of Successful Go live: 10%
Please be guided by terms of RFP
67 25.2.3 50 10% after one year of Go-Live closure signoff from
Bank.
In case the bidder implements 'Readily Available' and 'C1' functionalities of
all the modules in 9 months with only the 'C2' functionalities to be
delievered subsequently in next 6 months, please confirm that this
payment of 10% of implementation cost will be payable after one year
from month 9.
It is linked to GO-Live Closure Signoff Date i.e. end of implementation Period. The 'Readily Avialable' and
'C1' functionalities are to be delivered with in the proposed and agreed implementation period which
may be any period between 9 months to 18 months. The 'C2' funcationalities are defined as
functionalities which are not critical for going live the related trade finance module/function and
accepted by Bank. So these 'C2' functionalities acceptable to Bank are to be deliverd within 6 months of
GO-Live Closure Sign Off Date. The 10% of implementation cost will be payable one year after Go-Live
Closure Sign Off, with a presumption that agreed 'C2' functionalities has already been delivered to Bank
by then. So to be read as "10% of implementation cost will be payable after one year from Go-Live Sign
Off Date or after confirmation by Bank identified Project Manager having received full and satisfactory
delivery of 'C2' functionalities if any, whichever is later". The delay of any agreed deliverable such as 'C2'
functionalities will also attract penalties as per RFP term.
68 25.6 50 The payment for onsite technical support shall be
made quarterly in arrears.
Bidder request that payment be made as monthly in advance Please be guided by terms of RFP
Page 12 of 27
S. No. Clause No Page No Clause Query Bank Response
69 25.12 50 Bank will pay invoices within 30 days from the date
of receipt of physical invoice by the Bank, except
for those portions of any invoice that the Bank
disputes in good faith and in writing.
Bidder request to add the following "Bank will not have a right to withhold
payments during the implementation phase. During the support phase,
Bank may withhold, in good faith, disputed charges aggregating up to the
equivalent of two months charges, above which Bank should pay disputed
amounts as per the contractual payment terms. All amounts withheld must
be subject to the contractual dispute resolution mechanism"
Please be guided by terms of RFP
70 25.1 50 Bank will pay invoices within 30 days from the date
of receipt of physical invoice by the Bank, except
for those portions of any invoice that the Bank
disputes in good faith and in writing.
Bidder request that the payment be made from 30 days from date of
invoice and late payment fee be levied incase of any delay @2% per month
Please be guided by terms of RFP
71 25.2.3 50 10% after one year of Go-Live closure signoff from
Bank.
What is the definition of "Go-live closure signoff" ?
Does it equal to the signoff for Golive of Phase 3 as described under section
10.3
When the successful bidder proposes to implement the project in phases as per implementation plan
agreeable to Bank. There may be multiple Go Live incedence as per different phases agreed to Go Live
during the implementation period at different points of time terming them phases-I,II,III,IV ... The Go-
Live Closure Sign Off is the sign off confirming all the Go-Live phases have been implemented as agreed
in the implementation plan.
72 26 50 Adherence to Cyber Security We will request a copy of the cyber security policy for the purpose of
evaluating compliance with this clause.
Will be shared with successful bidder
73 29 52 Confidentiality We understand that confidentiality related obligations will be governed by
a mutually agreed NDA and the time of signing the final contract. Please
confirm.
Please be guided by terms of RFP
74 29 52 Confidentiality This clause covers confidentiality protection of the client's information.
Please let us know how the confidentiality of the bidder's information will
be ensured.
Please be guided by terms of RFP
75 30 52 Indemnity The clause seeks indemnity for willful acts or negligence. However, this
will result in breach of contract for which already liquidated damages
provisions are already provided. Therefore we would suggest to restrict this
to third party IPR infringement claims.
we would suggest to finalize this clause at the time of contracting stage.
Please be guided by terms of RFP
76 31 54 Intellectual Property Rights The bidder will provide access to its proprietary product. Therefore the
clause related to assertion of IPR of bidder need to be incorporated along
with applicable licensing terms.
Please help us to understand if this is covered somewhere. Also help us to
understand if license agreement of bidder will be signed.
We would request to finalize this clause at the time of contracting stage.
Please be guided by terms of RFP
77 33 55 33.Responsibility for Completeness We understand that any activity beyond scope will be chargeable such as
modifications, alterations, changes on account of statutory requirement.
Accordingly this clause need to be modified. Please confirm.
Please be guided by terms of RFP
Page 13 of 27
S. No. Clause No Page No Clause Query Bank Response
78 35 56 Escrow We request that Escrow requirement is applicable only to customised
software created specifically for the Bank and not for Commercial Off the
Shelf Products (COTS) products. Please confirm.
Please be guided by terms of RFP
79 35.Escrow
Arrangement
56 35.1. Bank may require Bidder/OEM to keep source
code of proposed solution with approved /
recognized escrow agency under escrow
arrangements mutually acceptable to the bank and
Bidder for entire project period. Cost of the escrow
arrangement to be borne by Bank. Contract will be
signed on mutually acceptable terms with bank and
escrow agent.
Request bank to remove the mentioned clause. Please be guided by terms of RFP
80 34.3 56 The successful bidder will have complete
responsibility of end to end integration with Bank’s
existing application as per requirement of proposed
trade finance solution, such as CBS, Treasury
System, RET_AD, SWIFT, AML etc.
Bank will only facilitate interaction with respective
vendor of existing application. The bidder is
expected to include effort of integration in its
implementation plan and cost. Successful bidder
will be solely responsible for any delay in
integration with Bank’s application.
Bidder requests the bank to own any effort required at the end of systems
like CBS, Treasury System, RET_AD, SWIFT, AML for succesful integration as
it may not be possible for the bidder to access Bank's core systems and
make changes in it, if any will be required.
Please be guided by terms of RFP
81 37 57 Penalty Bidder request that the penalty under this clause 10 be capped at 10% of
the quarterly payouts
Please be guided by terms of RFP
82 37.Penalty 57 37.2. Penalty for Operational/ Functional Issues:
High Business Impact Issues (response time 30 min
)(resolution time 1 hrs) Medium Business Impact
Issues (response time 30 min )(resolution time 4 hrs)
Low Business Impact Issues (response time 30 min
)(resolution time 24 hrs)
Request bank to consider;
High Business Impact Issues (response time 30 min )(resolution time 4 hrs)
Medium Business Impact Issues (response time 60 min )(resolution time 10
hrs) Low Business Impact Issues (response time 2 hr )(resolution time 7
days)
Please be guided by terms of RFP
83 37.Penalty 57 Penalty We would like to suggest our own penalty clauses and SLAs Please be guided by terms of RFP
84 37 57 Penalty Since the provision of liquidated damages is already mentioned we
understand a separate penalty will not be applicable. Please confirm the
same.
Further we would request to finalize this at the time of contracting stage.
Please be guided by terms of RFP
85 37.3 58 The Bank would expect the bidder to commit to the
service level assurances. The Bidder shall commit to
maintain uptime of 99.95 and above per month
Bidder requests the bank to calculate uptime and corresponding SLA during
bank business hours only.
The Trade Finance solution will also be used by Customer and it will be available to customer 24x7
Page 14 of 27
S. No. Clause No Page No Clause Query Bank Response
86 37.Penalty 58 High Business Impact Issues 5000/- Per incident
Medium Impact Issues 1000/- Per incident
Request bank to consider, " High Business Impact Issues 2000/- Per incident
Medium Impact Issues 1000/- Per incident"
Please be guided by terms of RFP
87 37.Penalty 58 37.4. Cost of monthly pay-out is the amount
calculated per month for all the contracted
payment to be due to Vendor for ensuring running
of the proposed project under this RFP such as ATS/
annual subscription amount.
99.95% and above No penalty
99.00% and above but below
99.95% -1% cost of monthly pay-out
98.00% and above but below
99.00%- 2% cost of monthly pay-out
97.00% and above but below
98.00%- 5% cost of monthly pay-out
Below 97.00% -10% cost of monthly pay-out
Below 90% - No Payment
Request bank to consider,"37.4. Cost of monthly pay-out is the amount
calculated per month for all the contracted payment to be due to Vendor
for ensuring running of the proposed project under this RFP such as ATS/
annual subscription amount.
99.95% and above No penalty
99.00% and above but below
99.95% -0.25% cost of monthly pay-out
98.00% and above but below
99.00%- 0.50% cost of monthly pay-out
97.00% and above but below
98.00%- 0.75% cost of monthly pay-out
Below 97.00% -1% cost of monthly pay-out
Below 85% - No Payment
Please be guided by terms of RFP
88 39.2 59 39.2. The Bank has right to audit the Application
/Source Code by the suitable
Security Auditor.
The source code being the intellectual property of Vendor and its access
cannot be given to third party. We would like to remove the clause and will
be restricted to escrow arrangement. However, the application auditing
can be executed by the bank designated security auditor
Please be guided by terms of RFP
89 41.1.1 61 41.1. The Bank reserves the right to cancel the
contract in the event of happening
one or more of the following conditions:
41.1.1. Failure of the successful bidder to accept
the contract and furnish the
Performance Bank Guarantee equivalent to 10% of
the project cost
within 30 days from receipt of purchase contract.
In clause 13 PBG is mentioned of 3% however, it is mentioned on 10%. Hope
the PBG amount is capped to the 3% of the contract value as per the
government of the ministry of finance circulated which is applicable till
Dec'2021. Hope the same is applicable
41.1.1 to be read as "Failure of the successful bidder to accept the contract and furnish the
Performance Bank Guarantee equivalent to 3% of the project cost
within 30 days from receipt of purchase contract."
90 41.1 61 Delay in delivery beyond the specified period.
41.1.3. Delay in completing
implementation/customization and acceptance
tests/ checks beyond the specified periods.
41.1.4. Serious discrepancy in functionality to be
provided or the performance
levels which have an impact on the functioning of
the solution
The delay in project may be caused because of the reasons not solely
attributed to the bidder. Therefore, we would request no exit in such
cases.
Please be guided by terms of RFP
91 41.2 61 In addition to the cancellation of
contract………………………………….. Bank reserves right
to exit at any time after giving notice period of one
month during the contract period………………………….
date of termination.
Termination having serious impact we would suggest to invoke the same in
rare cases. Also, we would suggest that the charges for the services
rendered till termination to be paid.
We would suggest to finalize this clause at the contracting stage.
Please be guided by terms of RFP
Page 15 of 27
S. No. Clause No Page No Clause Query Bank Response
92 41.42 61 Exit/Termination of Contract We request that these clauses be modified as follows:Either party may
terminate the contract, with thirty days prior written notice, if the other
party has committed a material breach of this contract and if such breach
has not been cured during the notice period. The Bank shall pay the Bidder
for all products and services provided up to the effective date of
termination.
Please be guided by terms of RFP
93 42 62 Termination of Contract Termination having serious impact we would suggest to invoke the same in
rare cases. Also, we would suggest that the charges for the services
rendered till termination to be paid.
We would suggest to finalize this clause at the contracting stage.
Please be guided by terms of RFP
94 44 63 44.Normalisation of Bids please help us to understand this further. Please let us know what action
will be required from bidder.
Please be guided by terms of RFP
95 47 65 Annexure A Given the complex nature of the services involved we will request the Bank
to allow deviations to the RFP which will enable us to submit a
commercially competitive and responsive bid.
Please be guided by terms of RFP
96 47 65 Letter of acceptance In this letter it is stated bidder will execute contract at its own cost.
Please help us to understand if bidder will have to bear the stamp duty? If
yes please help us to understand what is the requirement of client in
respect of stamping value?
Please be guided by terms of RFP
97 52 Annexure F 74 Customisation 2 (With in 6 month of post
implementation period)
In this statement "Post Implementation" is representing to which phase as
defined under section 10.3
When the successful bidder proposes to implement the project in phases as per implementation plan
agreeable to Bank. There may be multiple Go Live incedence as per different phases agreed to Go Live
during the implementation period at different points of time terming them phases-I,II,III,IV ...Post
implementation means post go live of last phased agreed in implementation period.
98 52 Annexure F 74 Customisation 3 What is the expected timelimit to provide Customization 3 To be mutually agreed between Bank and succssful bidder
99 52. Digitisation
Supporting System
74 A: Digitisation Supporting System 1. Document
Management System (DMS):- Search facility of a
document and capability of real time retrieval,
display and printing of documents / images relating
to various product types / transactions with in
trade finance solution
Printing infrastructure will be separately arranged by the Bank? Hardware of Printing infrastructure will be be provided by Bank
100 52. Digitisation
Supporting System
75 3. Segregation of documents using Technology such
as ML and OCR without any Manual Intervention.
The OCR / ML features are expected to be part of Solution or Solution
should have the capability to integrate with OCR / ML Solution of the bank
to achieve the expected functionality?
The OCR / ML features are expected to be part of Solution
101 52. Digitisation
Supporting System
75 4. Should have technology such as OCR (Optical
Character Recognition), ML (Machine learning)
capabilities convert standardised document (such as
LC request application, swift messages) to digital
information and structure the same for further
processing.
The OCR / ML features are expected to be part of Solution or Solution
should have the capability to integrate with OCR / ML Solution of the bank
to achieve the expected functionality?
The OCR / ML features are expected to be part of Solution
Page 16 of 27
S. No. Clause No Page No Clause Query Bank Response
102 52. Digitisation
Supporting System
75 5. Should have technology such as OCR (Optical
Character Recognition), ML (Machine learning)
capabilities to convert unstructured scanned
document/images/printed text/incoming messages
(such as documents under Import/Export) to digital
information and structure the same for further
processing
The OCR / ML features are expected to be part of Solution or Solution
should have the capability to integrate with OCR / ML Solution of the bank
to achieve the expected functionality?
The OCR / ML features are expected to be part of Solution
103 52. Digitisation
Supporting System
75 6. Should have feature of auto population of fields
in the transactions templates from the scanned
Documents.
The OCR / ML features are expected to be part of Solution or Solution
should have the capability to integrate with OCR / ML Solution of the bank
to achieve the expected functionality?
The OCR / ML features are expected to be part of Solution
104 52. Digitisation
Supporting System
76 8. Should have Drag & Drop or Copy & Paste
features, from scanned images to data fields.
What specific technology is being referred to here? Functionalities is required, Bidder has to decide technology
105 14 77 Digitisation Support System:
Past experience of application with Finacle Core
integration Past experience of application with
Finacle Treasury integration
As per the scope, the bidder / OEM will integrate the proposed solution
with Finacle CBS & Treasury, the bank should consider past experience of
integration of the proposed solution with any core banking & treasury
solution.
Bank prefers the proven track record of similar Implementation to achieve effective execution, as such
prefer the experience of execution with Finacle Core and Finacle Treasury.
106 14 77 Digitisation Support System:
Past experience of application with Finacle Core
integration Past experience of application with
Finacle Treasury integration
As per the scope, the bidder / OEM will integrate the proposed solution
with Finacle CBS & Treasury, the bank should consider past experience of
integration of any similar application like treasury / supply chain finance /
collateral management by bidder / OEM with Finacle CBS.
Bank prefers the proven track record of similar Implementation to achieve effective execution, as such
prefer the experience of execution with Finacle Core and Finacle Treasury.
107 52. Digitisation
Supporting System
78 18. Should be able to store and timely update latest
directory of International & Domestic
regulatorydirectives by ICC, UCP, URC, URDG, RBI,
FEMA, FEDAI etc. (Demo of existing setup, and
procedure of regular update of same)
Since direct integration is not possible, how will it be possible for the
Application to fetch and update directives?
It is the requirement Bidder to provide the Solution
108 52. Digitisation
Supporting System
78 19. Should be able to support to link to
ECGC/RBI/DGFT/FEDAI/Ship ping Line/ICEGATE
web
portals. Where ever services are not exposed by
these Should be able to support to link to
ECGC/RBI/DGFT/FEDAI/Ship ping Line/ICEGATE
web portals. Where ever services are not exposed
by these entities provide support touser in data
fetching or submitting data from/to these web
portals to/from the application. (Demo of linking
any of these sites and then able user to copy data
So far as we understand most of these agencies don't publish APIs to access
their data. So, how is it possible to have this feature?
Please be guided by terms of RFP
Page 17 of 27
S. No. Clause No Page No Clause Query Bank Response
109 52. Digitisation
Supporting System
79 20. Should have rule management system. Rules
through logic statements and decision matrices
without coding as such should carry out consistency
checks on the contents, attributes, parties
etc. of the digitized information on the basis of
rules defined. Such as carry out compliance &
conformity check with ICC, UCP, URC, URDG etc.
product specific regulatory norms. (Demo of the
function – change the rule or insert new rule and
system complies)
So far as we understand most of these agencies don't publish APIs to access
their data. So, how is it possible to have this feature?
Secondly, how is it expected to have these norms configured separately?
Please be guided by terms of RFP
110 52. Digitisation
Supporting System
79 21. Should be able to define customised scrutiny
rules, procedures and checks for customised
Reports & MIS. ( Demo of customisable rules and
generate report- Customer Portal/ Bank end)
What is the expectation here and also the purpose? Once an MIS logic is
built, what kind to scrutinizes are expected after generation of MIS.
Please be guided by terms of RFP
111 52. Digitisation
Supporting System
79 25. Should have feature that allows user to view
entire history of any transaction from any part of
trade finance solution.( example if user is in Trade
processing system and working on any transaction
and wish to view any other transaction history he
must be able to do it, without disturbing his present
work in process)
It will amount to two screens being active at the same time. Is such
workflow expected?
Please be guided by terms of RFP
112 52. Digitisation
Supporting System
80 27. System should have Comprehensive &
customisable Audit Trails & Audit Logs.
What is meant by customizable audit trail /logs? Please be guided by terms of RFP
113 B) Trade
Processing System
80 29.Supports multi-level authentication at user level
– like dual key, FOB keys, Biometric, Device level,
etc.
Where such features such as Biometric, FOB and Device level security
devices are expected to be used?
Please be guided by terms of RFP
114 33 81 Have Limit Maintenance System with multicurrency
limits functionality. Support creation and
maintenance of different types of limits such as
counter party limits and its sub limits, country
limits, etc.,
Need clarity on whether to provide interface to the existing Limit
Management System or to bring in Intellect's Enterprise Limit Management
System.
Both. The proposed TF system should have its own Limit Management Sytem along with capability of
interface with existing system and and capability to keep track of both.
115 B) Trade
Processing System
81 34. Have capability of updating the relevant limits
maintained in CBS(Finacle Core) on real time basis,
and system support to reconciliation details of limit
utilisation and outstanding, in Trade Finance
System with outstanding in CBS(Finacle Core)- (Past
experience of the proposed trade process
application with Finacle Core for updating limits in
Finacle Core, will only be treated as
capability/feature as readily available during
Demo)
Is a full-fledged Limit module expected to be part of the Application? Please be guided by terms of RFP
Page 18 of 27
S. No. Clause No Page No Clause Query Bank Response
116 B) Trade
Processing System
82 36. Supports various types of interest calculation,
interest collections, interest accrual, upfront and
amortised periodically, rear-end, etc. For interest
collected upfront and amortised periodically,
should have reconciliation details of relevant
underlying finance item(such as export bill) and
outstanding in Trade Finance System with
outstanding in CBS(Finacle Core)
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
117 B) Trade
Processing System
82 38. Supports charge maintenance :-- types of
chargecalculation, such as limit specific, customer
specific, transaction specific , promotional charges,
standard charges etc. -support parameters such as
%, slab, tenor, currency, bench mark etc. having
support of upfront, rear end, differed.
-Facilitate amortisation of charge collected and
reconciliation thereof. - capturing of concession
offered to customer over a period of time.
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
118 B) Trade
Processing System
82 39. Support NPA management at Trade Finance :-
(Features availability with past experience of Trade
Finance application with any Bank will be treated
as capability readily available) All Sub Points under
this title.
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
119 B) Trade
Processing System
83 40. Supports facilitating centralised monitoring and
control on Foreign Currency deposit and loan
transactions accounted at CBS (Finacle Core). Such
as EEFC, DDA, FCNR,
FCL/FCTL, Gold Metal Loan (in XAU currency).
These are typically handled at Core banking & Treasury for the purpose of
consistency and main features. Are these expected to be taken out of Core
banking / Treasury and built into Trade Solution?
Please be guided by terms of RFP
Page 19 of 27
S. No. Clause No Page No Clause Query Bank Response
120 B) Trade
Processing System
83 41. Support maintaining of Contingent accounting
entries in FCY, as well as in INR (Home Currency) in
Trade Finance System. Posting in CBS will be in INR
(Home Currency) value at the time of creation of
liability transaction, and will be reversed with same
INR (Home Currency) value at the time of
extinguishing of the said liability transaction. At
month end mark to market revaluation entry in INR
(Home Currency) to be passed in CBS (Finacle Core)
on last working day of month for accounting
purpose and same has to be reversed next day. The
report of liability wise breakup to be available for
the month end outstanding in CBS(Finacle Core)-
(Demo on generating accounting entries in
respective currencies as well as in INR)
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
121 42 84 Support for Trading Party Maintenance: -
Maintenance of Records on Foreign Party,Shipping
Company, Logistic Company, Insurance Agency
Maintaining Records with unique identity reference
number, record their transactions , history
capturing trade goods, trading partner, Bank
accounts, sister/ associate concerns. Supporting
link to Credit reports stored in DMS. Feature for
dormant, active status.Support avoiding duplicate
record creation, facilitate user giving alert and pop
up suggestion of already existing similar record at
the time of creation of record itself.
Please clarify / elaborate this point " history capturing trade goods, trading
partner, Bank accounts, sister/ associate concerns.
System should be able to record history of transaction done with- Traded goods, traded partner, trader
partner bank accounts, sister or associate concern of trading party etc., enabling system to give alert/
restriction/ escalation to user if some breach of limits/caution with respect to theses records are
occuring during transaction.Further MIS would be available for these transactions.
122 B) Trade
Processing System
84 III: TAX Management: 43. Support various tax
calculation and charging during the transaction
such as, currency conversion, GST, TCS etc
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
123 47 85 Features to send queries, respond queries,
generating appropriate swift messages and other
advices
Please clarify on " to send queries, respond queries". Does this mean
generation of MT N99 messages?
With respect to appropriate swift message it may be standard query messages such as MT N95, N96, N99,
and non-swift messages through mail/work flow/sms for queries/responding queries.
124 B) Trade
Processing System
85 47. Features to send queries, respond queries,
generating appropriate swift messages and other
advices
While the tracers can be created from the Trade Application, the SWIFT
message generation is typically a Core Banking feature, for control &
consistency. Is it expected to generate SWIFT message outside of Core
Banking?
Please be guided by terms of RFP
125 59 86 Document examination, re-examination [re-check]
features, supports recording of observations,
discrepancies and conveying the same to the
Corporate through the application / by email, etc
Please clarify on "Document examination / re examination features". Does
this mean document scrutiny by System?
This is with respect to provision in system to support document examination event and re-examination
event and its record. Regarding Scrutiny by system capability please refer point 22 page 79,
Page 20 of 27
S. No. Clause No Page No Clause Query Bank Response
126 B) Trade
Processing System
86 53: Features to send queries, respond queries,
generating appropriate swift messages and other
advices
While the tracers can be created from the Trade Application, the SWIFT
message generation is typically a Core Banking feature, for control &
consistency. Is it expected to generate SWIFT message outside of Core
Banking?
Please be guided by terms of RFP
127 B) Trade
Processing System
86 54. Support in monitoring and control of exposure
of counterparty, country, ultimate country. (Demo
to show system warning when breaching limits of
above limits- with in BG issuance)
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
128 B) Trade
Processing System
86 58. Support Features include multiple and part
presentations, collections, Create new / from
template / from existing transaction, Amend, Save
,Save as Draft / Save as Template, Copy, Cancel,
Accept , Assign, Transfer(Collection to Purchase),
Extend validity ,reduction in value, Realize,
Crystallise, Recovered, etc
Point unclear. Needs clarity Please be guided by terms of RFP
129 63 87 Supports generation and printing of Bank cover
letters at Corporates’ location after the uploaded
document is examined and approved by the Bank
for a direct dispatch by Corporates themselves
Please clarify if this requirement relates to interface with existing
Customer Portal?
This facility should be available with proposed customer portal under the trade finance solution
130 B) Trade
Processing System
87 60. Supports recording of rejections, non-
payments, monitoring and follow up of delayed
payments, etc
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
131 B) Trade
Processing System
88 65. Features as per regulatory guidance for write
off export bills, netting off export- import bills.
These are typically handled at Core banking for the purpose of consistency
and these being basic Core banking features. Are these expected to be
taken out of Core banking and built into Trade Solution?
Please be guided by terms of RFP
132 B) Trade
Processing System
88 66. Support check during export bill realisation
where realisation is from funds received in Nostro,
with respect to relevant credit available in
respective MT950 /MT940 statement.
Needs clarity on this requirement. Please be guided by terms of RFP
133 B) Trade
Processing System
88 69. Support features for Gold Bullion Trade Finance
Business
- Capturing Import of Gold
- Accounting in XAU units
- Guarantee Issue
- Export/Purchase Orders
- Bills Domestic/Export
This is a feature of Precious Metal Application. Is it expected to be part of
Trade Application
Please be guided by terms of RFP
134 B) Trade
Processing System
90 77. Maintaining Devolvement records party wise Please clarify the requirement related to "Party-wise" Please be guided by terms of RFP
135 B) Trade
Processing System
91 79. Forward Contract:- (Demo- to check transaction
and accounting entries). All sub points under this
title
These are typically Treasury Application functionalities. Are these
expected to be carved out of Treasury App and maintained in Trade App?
Please be guided by terms of RFP
Page 21 of 27
S. No. Clause No Page No Clause Query Bank Response
136 B) Trade
Processing System
91 80. Support for utilisation of other hedging products
such as option.
These are typically Treasury Application functionalities. Are these
expected to be carved out of Treasury App and maintained in Trade App?
Please be guided by terms of RFP
137 B) Trade
Processing System
91 81. Trade Process System should be SWIFT Certified
Solution Copy of Certificate from SWIFT is required.
SWIFT generation is typically handled through CORE Banking including
periodic changes to SWIFT validations.
Please be guided by terms of RFP
138 B) Trade
Processing System
91 V.h82. SWIFT/SFMS: Outward Swift Integrated
with each modules having validation to receiver BIC
available in RMA authorised
RMA is maintained in the SWIFT system. What is the functionality expected
here?
Please be guided by terms of RFP
139 88 93 Bulk Upload facility - bulk upload facility for bills
and remittances
Please elaborate on Bulk upload facility of bills and remittances Incase of multiple bills submission bulk upload, instead of one by one entry both at customer portal and
and at trade finance system, similarly for remittance
140 B) Trade
Processing System
93 90. Reimbursement Claims:- Should be supported
and linked with the import bill (Demo to check how
system is supporting following) and all subpoints
under this point.
These are typically handled at Treasury for the purpose of consistency and
these being basic Treasury feature. Are these expected to be taken out of
Treasury and built into Trade Solution?
Please be guided by terms of RFP
141 B) Trade
Processing System
94 91. Have support system for reconciliation,
validation and utilisation of entries of Dr/Cr in
MT940/MT950 with respect to Trade System (Demo
to check function and process):-
These are typically handled through separate Nostro Reconciliation
Application.
Please be guided by terms of RFP
142 B) Trade
Processing System
95 93. RMA Management record Maintenance of
Correspondent Banks and RMA arrangement
Reconciliation of valid RMA with SWIFT Record
Expiry date RMA
These are core SWIFT functionality Please be guided by terms of RFP
143 102 98 Support for Export/Import Transactions done
through OPGSP (Online payment gateway service
providers). (Demo to check it’s classification and
segregation from normal Export/ Import and RBI
norms validation )
Please elaborate further on this requirement Please be guided by RBI guidelines and terms of RFP
144 C) Reporting/MIS
System
99 106. System supports for reports, such as following
Regulatory Reports
1) R Return
2) IBS Report
3) DRI Report
4) EDPMS/IDPMS Report
5) DBS Return
6) CBWTR Report
7) LRS Report
8) Merchanting
Transaction
9) Trade Credit Report
(Demo to check some reports where in data of
transaction done during the demo process has been
captured)
These are reports that will have base data in Core banking. Are these
expected to be maintained also in Trade Application?
Please be guided by terms of RFP
Page 22 of 27
S. No. Clause No Page No Clause Query Bank Response
145 C) Reporting/MIS
System
100 107. MIS Reports- Historical, present and
comparison,such as
1) Pre-shipment and post shipment export
disbursement within a period and O/s as on date
with sub classification of various type, geographical
region, branch, Goods, Industry, Industry Sector,
Merchanting, Manufacturer, Trader etc.
2) Import transaction, under LC, non LC, Goods,
Industry ,Sector, Merchanting, Manufacturer,
Trader etc 3) Guarantees , Counter Party exposures
4) Business received from Correspondent banks LC
Received, Remittance
These are reports that will have base data in Core banking. Are these
expected to be maintained also in Trade Application?
Please be guided by terms of RFP
146 C) Reporting/MIS
System
101 108. System to support front end users, in friendly
way, such as by rules as web services
through logic statements and decision matrices
without requirement of any coding or
sql, for fetching data from storage tables, and
generating report for view or exportable in multiple
format excel, pdf, etc. (Demo to check by creating
new combination of data selection and creating a
report)
What will be some examples of the basic logics and decision matrices? Please be guided by terms of RFP
147 C) Reporting/MIS
System
101 109. Support converting regulatory reports to
RBI/Govt dept format for uploading in RBI/Govt
dept
portal, such as xbrl format for RBI (Demo to check
some report conversions)
This is a typical functionality of Automated Data Flow (ADF) system. Is it
expected to be taken out of ADF and built into Trade Application?
Please be guided by terms of RFP
148 53. Annexure G 105 The cost of 4 onsite resources Section 9 at page 25 says 2 onsite resource where as Annexure G ask for 4
Resources. What is the correct number of resources.
These are for the costing purpose, Resources requirement can be increased or decreased. provide costing
in commercial bid Annexure G & H for 4 resources.
149 61 118 Integrity Pact The Integrity Pact is quite wide and open ended. Therefore we would like
to suggest modification. Please let us know if this can be modified?
We would request to finalize this at the time of contracting stage.
Please be guided by terms of RFP
150 62 125 Annexure P Clause 2: We request deletion of this indemnity.;Clause 3: We request
deletion of this clause as this information might be protected by the data
protection/data privacy laws and there fore cannot be shared.
Please be guided by terms of RFP
Page 23 of 27
S. No. Clause No Page No Clause Query Bank Response
151 64 126 Performance Bank Guarantee The format quite wide and open ended. Therefore we would like to suggest
modification. Please let us know if this can be modified?
We would request to finalize this at the time of contracting stage.
Please be guided by terms of RFP
152 5 131 Solution should have an imaging module through
which uploading of invoices and accessing of
invoice copies and other documents through
online is possible.
Please specify what other documents are required to be uploaded User is allowed to upload Invoices, Reciepts,collateral securities etc. in PDF,TXT,xls, Image formats
153 7 131 Solution should be scalable to any number of
transactions per day without any restriction on
number and amount.
What is the avg number of transactions that is expected to be run per day Number of Supply chain finance transactions on a daily basis ( Average/ Peak )- 1000/3000
154 9 131 Solution should provide end to end
reconciliation as per the Bank’s requirements.
Please elaborate the reconcilation process that would be followed by the
bank
Please refer Invoice/PO Reconciliation section of requirements (Pt 76 , Page no 140)
155 12 131 The Solution should support online real time
updation between the application and database
and CBS of the Bank.
What data needs to be updated as a part of real time updation between
CBS and the application
transaction status (funding/liquidation of bills), Limit details,Interest details, Limit utilization details
etc.
156 5 131 Solution should have an imaging module through
which uploading of invoices and accessing of invoice
copies and other documents through online is
possible
Is the requirement for ICR/OCR ? Does the bank have a document
management system for storing /retrieving the images ?
User is allowed to uplaod Invoices, Reciepts,collateral securities etc. in PDF,TXT,xls, Image formats . We
do not have document management system for storing/retrieving images
157 9 131 Solution should provide end to end reconciliation as
per the Bank’s requirements.
Please specify the bank's requirement in detail. We provide real-time
status & reconciliation through reports.
Please refer Invoice/PO Reconciliation section of requirements (Pt 76 , Page no 140)
158 39 133 Ability to support for pooling multiple database
connections when the load on the application
increases.
Managing of database pooling is handled by Oracle. What is the
expectation by the manufacturer to manage the database query.
Apart from connection pooling at database server level, application level connection pooling should also
be available.
159 40 133 Ability of the database to support clustering.
Indicate the number of clusters that can be
configured.
Application is a cluster readiness. What is the expecation by the
manufacturer on the number of cluster member..
Kindly refer the RFP pg no 24 for hardware sizing and performance required
160 41 133 Database architecture should have the ability to
increase the number of concurrent instances to
keep the database server parameters below 70%
utilization (CPU, Memory, Hard Disk etc).
This is handled by Oracle. Normally Manufacturer provides the
configuration based on the concurent users. What additionaly bank is
expecting from the Manufacturer.
Kindly refer the RFP pg no 24 for hardware sizing and performance required
161 37 133 Solution shall have the ability to identify
exceptional/ abnormal transactions
Please elaborate with examples what is meant by exceptional / abnormal
transactions ?
Any transaction which is not normal, should be alerted . Like some abnormally high value transaction
,Dealer code - OEM combination mismatch , bill no diffrence as per uploaded invoice, bill uploaded for
the amount beyond limit available
162 42 133 Solution should be able to generate all MIS
requirements of the Bank/Supplier/dealers hosted
in a secure way.
What does the bank mean by 'Hosted in secure way'? MIS sharing through SFTP /API
Page 24 of 27
S. No. Clause No Page No Clause Query Bank Response
163 44 134 Credit Risk Rating Report FSCM system does not maintain any risk ratings. Ideally the risk rating is
maintained in the risk rating system of the bank and FSCM system will
integrate with the risk rating system and fetch the details for the reporting
purpose. Kindly confirm the same. Also, please mentioned the credit risk
rating system which the bank is currently using.
Credit rating system will be informed subsequently. If the application can fetch credit rating details from
the risk rating system used by bank, that will serve the purpose
164 47 135 Provision is required for uploading of the relevant
invoices which can be in CSV, XML, Excel, TXT, all
image formats etc and any file once uploads should
not be removed from front end. Correct files
for erroneous files can be uploaded / reuploaded.
Version history to be maintained.
Please explain about the version history requirement in detail file version to be maintained . When versioning is enabled, we can see when an item or file was changed
and who changed it.
165 55 135 Application should support maintenance of non-
customer information (Provision to maintain
vendors/dealers to whom payments are being
released by the Bank based on the overall limit to
the OEM.
Kindly elaborate this requirement with an example. We understand that it
is a Dealer / Supplier led finance program. What is OEM ?
OEM is original equipment manufacturer. Vendor/dealer/OEM data to be maintained with real time limit
updates
166 62 136 System should have the ability to enter the
collateral security details/credit insurance for the
dealer and vendor finance. It should also have the
option to enter the insurance details of collateral
security.
Will the financing of invoice be dependent on the availalbilty of
collateral.Elaborate
Customer limits will be fixed based on collateral submitted to the Bank
167 62 136 System should have the ability to enter the
collateral security details/credit insurance for the
dealer and vendor finance. It should also have the
option to enter the insurance details of collateral
security.
We assume the collateral information is required for MIS purposes and
Collateral management is NOT required.
The collateral security details required are : 1. land ,building , plant & machinery 2. any liquid assets
like FD, NSC, TD , LIC policy. When credit is given against
land,building,plant & machinery , insurance details are to be entered for these collateral securities .
Collateral management is required.
168 62 136 System should have the ability to enter the
collateral security details/credit insurance for the
dealer and vendor finance. It should also have the
option to enter the insurance details of collateral
security.
Pls elaborate what kind of collateral security details are to be entered The collateral security details required for : 1. land ,building , plant & machinery 2. any liquid assets
like FD, NSC, TD , LIC policy. When credit is given against land,building,plant & machinery , insurance
details are to be entered for these collateral securities
169 70 137 The system should have customizable fee
calculations including government tax portion due
(including GST and any other Taxes as levied
by the Government.)
Please explain the scenarios where GST will be applied by the bank Interest Calculation(Income) & GST calucation to be done in the application and transactions will be
pushed to Finacle.
170 70 137 The system should have customizable fee
calculations including government tax portion due
(including GST and any other Taxes as levied by the
Government.)
Is the expectation that the SCM application would calculate GST & other
taxes?
YES
171 70 138 The system should have ability to calculate and
configure Revenue split /joint income to recognize
contribution across segment
Please explain the various types/segments of revenue split The system should have capability to share/distribute profits and losses across multiple stakeholders
172 70 138 Split commission between several income
accounts between branches and nodal account
heads maintained centrally.
What are the types of commisions that the bank levies Processing Charges
Documenetaion Charges etc.
Complete list of charges will be shared by the Bank
Page 25 of 27
S. No. Clause No Page No Clause Query Bank Response
173 70 138 The system should have the ability to compute tax
and to post the required amount to the
designated GL. The taxes should also be
informed to the customer through charge
advice/invoice and through Internet Banking.
What are the types of taxes that the bank levies. Are the taxes levied on
invoices or the interest earned
Tax on Interest earned
174 70 138 The system should have the ability to calculate late
interest charges through configurable parameters
What is meant by Late interest charges ? Is it a typing error ? Else, Please
provide an example
Its an overdue interest charge levied , if repayment not done within due date.
175 71 138 The system should have the ability to allow for
credit override processing post approval for credit
limit breach
Finance is processed on the limit available on the linked loan account. So,
what is the expectation of limit override as the limit on loan account still
needs to be increased?
Once the credit limit breach is approved, system should permit for processing bills beyond limit
176 71 138 Limit/Credit Management The system should be
able to provide Client/counter party hierarchical
limits at entity level, counter party level, Supplier-
Buyer level The system should have the ability to
allow for credit override processing post approval
for credit limit breach
Pls note that as per standard Banking practices customer limits are
maintained in CBS, ,we would fetch the limits from CBS and update the
same on successful posting of the transaction. Pls confirm on our
understanding. However counterparty, supplier buyer level limits can be
maintained in our platform on the basis of customer limits
Understanding is OK. Limit details can be fetched from CBS and counterparty, supplier -buyer limit to be
maintained in this platform based on customer limits.
177 71 139 The system should be able to remove earmarks
from client/counter party upon settlement of
invoices
Please explain the earmarks from client/counter party Once the invoice is settled , no Alert should go to the client for payment of bills
178 71 139 The system should allow for a manual rollover
request on or after maturity date
What is the expected outcome of the manual rollover. What is the impact
on the due date of the finance
With the provision of manual rollover facility, the due date of the invoice can be further extended as per
the tenor.
179 72 139 The system should allow interest to be collected in
advance or arrears (late payment interest) upon
extension of loan maturity
Please explain the scenario with an example If any bill is entered in the system on 01.05.2021 with a tenor of 30 days. So, on 31.05.2021 the bill will
get overdue . Accordingly 2% extra interest will be levied. However, if the due date is further extended
by say 15 days, the coresponding intereset should be charged at normal rate for the extended period.
180 76 140 The system should allow for manual reconciliation Does the bank require a Receivable Management system for reconciliation
of invoices or the expectation is for Manual Recovery of invoices?
BOTH facility should be available
181 76 140 Application of interest can be in three modes -
Recovery upfront , Monthly interest recovery, Rear-
end recovery
This is duplicate requirement with point no 70 and not relevant to
Reconciliation.
It is relevant to reconciliation in the way of how much charges are levied bill wise / clientwise/
modewise
182 66 141 Annexure T We will request the following modifications: i.Clause 1: We request that
only that information which is marked and identified at the time of
disclosure be categorized as Confidential Information;ii. Clause 3 We
request that one copy of the confidential information be retained for
archival and regulatory purposes;iii. Clause 4 We would request that
Disclosing party be entitled recover only court awarded costs;iv. Clause 12
We request that obligation of maintaining confidentiality be for a period 5
years from the date of initial disclosure and not for perpetuity.;v. Clause
17 We request deletion as this is an NDA and not a services contract;
vi.Clause 18 We request deletion as this is not applicable to the scope of an
NDA; vi.Clause 19 We request deletion as this is not applicable to the scope
of an NDA;
Please be guided by terms of RFP
Page 26 of 27
S. No. Clause No Page No Clause Query Bank Response
183 69 150 Annexure W We understand that this relates only deliberately introduced malware at
the time of supply. Please confirm.
Please be guided by terms of RFP
184 GENERAL GENERAL GENERAL Location of services - will be Mumbai client Location. Please confirm As of now Mumbai
185 GENERAL GENERAL GENERAL what is the current support model? Does bank have a helpdesk or will the
calls directly come to Vendor team ? what ticketing tool does the Bank
have. Will Vendor be given access to update?
Presently Bank has help desk with Finacle trained team along with support from Infosys (OEM of Finacle).
Monitoring and resolution tracking through Infosys ticket generating tool of 'Techonline'. Vendor is to
make provision for its own ticketing tool.
186 General In many line
item
requirements
Past experience of the proposed trade process
application with Finacle Core for posting of
accounting entries in Finacle Core, will only be
treated as capability/features as readily available
during Demo) (Past experience of the proposed
trade process application with Finacle Core for
updating limits in Finacle Core, will only be treated
as capability/feature as readily available during
Demo)
Request bank to reconsider the clauses by taking into account the other
similar implementations, as most modern platforms are API first.
Please be guided by terms of RFP
187 General In many line
item
requirements
Past experience of the proposed trade process
application with Finacle Core for posting of
accounting entries in Finacle Core, will only be
treated as capability/features as readily available
during Demo) (Past experience of the proposed
trade process application with Finacle Core for
updating limits in Finacle Core, will only be treated
as capability/feature as readily available during
Demo)
Request bank to reconsider the clauses by taking into account the other
similar implementations, as most modern platforms are API first.
Please be guided by terms of RFP
188 General General Additional suggested We would like to suggest few additions/modifications at the contracting
stage. Please let us know how these could be suggested
Please be guided by terms of RFP
Page 27 of 27
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