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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.


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)

0 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.


Corrigendum 1 for RFP for Supply, Configure, Customize, Implement, Integrate and Maintain the Trade Finance Solution

Page 1 of 27


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?


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?


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.


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

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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.


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)?


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.


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



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.


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.


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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.


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

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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.

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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.


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.

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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


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


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.


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.


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?


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

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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


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



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.


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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


56 21.2 46 Warranty will start from the date of full golive

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


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".


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


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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.


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.


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.


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.


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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%


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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%


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

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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"


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


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.


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.


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.


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.


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.


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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.


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.


81 37 57 Penalty Bidder request that the penalty under this clause 10 be capped at 10% of

the quarterly payouts


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)


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.


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

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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"


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


99.00%- 2% cost of monthly pay-out


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


99.95% -0.25% cost of monthly pay-out


99.00%- 0.50% cost of monthly pay-out


98.00%- 0.75% cost of monthly pay-out

Below 97.00% -1% cost of monthly pay-out

Below 85% - No Payment


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


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.


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.


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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.


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.


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.


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.


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?


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


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.





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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






Supporting System

75 6. Should have feature of auto population of fields

in the transactions templates from the scanned

Documents.






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.


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


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?


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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?



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.



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?



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?


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

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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?


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.





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.





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?


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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)





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





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,


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?


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,

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126 B) Trade

Processing System

86 53: Features to send queries, respond queries,


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?


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)





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





131 B) Trade

Processing System

88 65. Features as per regulatory guidance for write

off export bills, netting off export- import bills.





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


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?


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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?


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.


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?


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?


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.


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?


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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?



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


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?


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.


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.


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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.


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

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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





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.





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

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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;


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183 69 150 Annexure W We understand that this relates only deliberately introduced malware at

the time of supply. Please confirm.


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.


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.


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


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