Corrigendum to RFP for Implementation of Payment Gateway Solution & Access Control Server Solution under Outsourced Model

(1)

Corrigendum to RFP for Implementation of Payment Gateway Solution & Access Control Server Solution

under Outsourced Model

Sr. No. Page No. Section / Sub-section

RFP Description Bidder's Query Bank's Response

1 NA General We request the bank to clarify whether the

hardware will be provided by bank.

As per the RFP terms, the solution has to be provided under outsourced model and bank will pay as per Bill of Material. Thus, Bidder is responsible to provide end-to-end solution.

2 NA General

Is the Reconciliation including Chargeback, Interchange settlement has to be provided on hosted model?

As per the RFP terms, the solution has to be provided under outsourced model and bank will pay as per Bill of Material. Thus, Bidder is responsible to provide end-to-end solution.

3 NA General

BIDDER requires included certain contractual terms including but not limited to a Non-Solicitation clause upon mutually acceptable terms and conditions.

Please be guided by the RFP.

4 NA General

What all external systems connect to the ACS – either to get data from ACS, or receive data from ACS?

The ACS connects to the Directory server of Visa / MasterCard / NPCI. In addition, ACS connects to the bank's switch/CBS for fetching the mobile number for sending OTP to the customers.

5 NA General

What are the details to be submitted on the technical and functional front, as a part of bid submission? No separate submission check list shared with the bid

Please refer to Annexure 10 of the RFP document.

6 NA General

Bank will pay additionally and separately for on -going customisations. It will be great if the per man day cost is defined

Customisation, if any, would be done on mutually agreed terms.

(2)

section

7 NA General

With reference to point number 6.1.2 for back office merchant management system, whether the transaction data migration is required or not please confirm. If required then what is the period for transaction data migration required.

Data pertaining to the last 120 days transactions along with its status i.e. settled or unsettled needs to be migrated.

8 NA General

With reference to point number 6.4.3 what kind of data required for Bank reconciliation, please provide more details.

File format required for reconciliation would be shared with the Bidder after the finalisation of the RFP.

9 NA General

Also please provide following details for 5 year projection

a. Total number of Merchants b. Total number of Bank users c. Total number of Merchant users d. Total number of concurrent users e. Total number of transactions per day

The present data is as follows:

a. Total number of Merchants: 5000

b. Total number of Bank users: 5

c. Total number of Merchant users: 2 per merchant

d. Total number of concurrent users: 500 e. Total number of transactions per day: 35000 The Bank has projected a growth of 20% per year.

10 NA General Does bidder needs to provide any training

to the bank personnel.

The bidder does not need to provide any training to the bank personnel. However, the bidder is expected to educate the bank personnel about the functionalities available in the proposed solution.

11 NA General

Request to insert an additional clause as follows:

If the Purchase/the Bank undergoes any merger, amalgamation, takeover, consolidation, restructuring, change of ownership etc., the RFP and the Agreement shall be deemed to be assigned to the new entity and such an act shall not affect the rights of the Service Provider under the RFP and the Agreement.

(3)

section 12 8 3.2.1 Broad Scope of Work

The solution should accept Debit / Credit cards (Visa, MasterCard, Maestro and RuPay) in addition to internet banking / wallet transactions done through various channels like Internet, Mobile phone, IVR etc. The Bank will use existing tie-up with aggregators for acquiring Internet Banking transactions.

We understand that bank has multiple hosts such as BASE24 for Debit card and Atos for Credit cards. Also the bank have connectivity with VISA, MasterCard, Maestro and RuPay. We assume that bank’s existing VISA, MasterCard and RuPay connectivity will be utilised for supporting bank’s various transactions.

Please confirm.

The Bank's existing Visa, MasterCard and RuPay connectivity will not be utilised for Payment Gateway and Access Control Server solutions. The Bidder is expected to establish the requisite connectivity with the networks.

13 9

3.3.1 Eligibility Criteria

Bidder should be a company / partnership firm registered in India and should have been in operation for a period at least five years as on date of RFP.

Bidder should be a company / partnership firm / consortium registered in India and should have been in operation for a period at least five years as on date of RFP.

14 9

Bidder should have implemented and/or managed Payment Gateway Solution successfully either on own premises or customer premises, for at least in one Bank or Banking, Financial Services and Insurance (BFSI) organisation in India or globally.

Kindly allow consortium (in terms of bidder)

as well in this. Please be guided by the RFP.

15 9

We have implemented PG for a processor in Mauritius who provides PG services to 3 banks in Mauritius and 4 banks based outside Mauritius.

While our client provides services to various banks it doesn’t come under category of bank or banking, BFSI.

We request bank to include Processor as well in the eligibility criteria.

16 9

The RFP is for Hosted model, but this clause allows bidder to have managed either hosted or on license model. Request bank to consider solutions deployed by Bidder's only on Hosted services Offering as the RFP on Outsourced Model

(4)

section

17 9

We suggest Bank to consider Bidder's to have experience of at least 1 year in successfully deploying the Payment Gateway Solution for at least 1 Bank in India in past 3 year as on date of Bid Submission, As regulatory and market requirement in India are significantly global hosted processing requirements

18 9

The Bidder should have yearly sales turnover of not less than Rs. 5 Crores during last three financial years i.e. 2011-12, 2012-13 and 2013-14.

The Bidder should have yearly sales turnover of not less than Rs. 5 Crores during last two financial years i.e. 2013-14 and 2014-15

19 9

The proposed payment gateway solution should be PCI DSS certified.

We have implemented our PG solution in India at ControlS, Navi Mumbai and PCI DSS certification is in progress.

We trust bank would qualify us to bid in this RFP.

Please confirm.

The proposed payment gateway solution should be PCI DSS certified as on date of submission of the RFP. The certificate should clearly mention that the Payment Gateway is one of the service covered under the certification. In case, the PCI DSS certificate is expiring on or before the date of submission, the bidder has to give an undertaking that the PCI DSS certificate would be renewed within a period of nine months from the date of expiry of such certificate. The bidder should also submit a letter from the certification authority stating that renewal of the PCI DSS certificate is in progress and that the Payment Gateway is covered in the scope of such renewal.

20 9

PCI - DSS is for the environment & PA-DSS is for the application. Request bank to confirm if PA-DSS certification is also required for Payment Gateway Solution.

(5)

section

21 9

Our proposed payment gateway services is undergoing renewal for PCI DSS. The Bidder should be allowed to provide a letter from the PCI DSS certification authority stating compliance is in progress. Bidder should be mandated to provide the PCI DSS compliance certificate within 9 months of go live

The proposed payment gateway solution should be PCI DSS certified as on date of submission of the RFP. The certificate should clearly mention that the Payment Gateway is one of the service covered under the certification. In case, the PCI DSS certificate is expiring on or before the date of submission, the bidder has to give an undertaking that the PCI DSS certificate would be renewed within a period of nine months from the date of expiry of such certificate. The bidder should also submit a letter from the certification authority stating that renewal of the PCI DSS certificate is in progress and that the Payment Gateway is covered in the scope of such renewal.

22 9

The Bidder should not have been blacklisted by any of the Government/Regulatory Authorities or Public Sector Undertakings (PSUs). The Bidder shall give an undertaking on their letter head stating that the Bidder has not been black listed by any of the

Government Authority or PSU. In case, in the past, the Bidder’s company / firm was blacklisted by any Govt. Authority or PSU, the name of such company / firm should have been removed from the black list as on date of submission of the tender, failing which the Bid shall be rejected. A declaration is to be provided to that effect as prescribed in Annexure 6.

Bidder should not be Blacklisted Globally by

any of the Bank Please be guided by the RFP.

23 10

3.5.1 Proposal ownershi p

The proposal and all supporting

documentation submitted by the Bidder shall become the property of Union Bank of India unless the Bidder specifically requests, in writing, that the proposal or the document be returned or destroyed.

The BIDDER requests that the bid and the pricing details submitted to the Bank to be treated as confidential and proprietary information of the BIDDER.

(6)

section 24 17 3.29.4 Signing of Contract

The contract will be signed by both the parties and will cover the terms and conditions laid down in the RFP, corrigendum to the RFP; if any, reply provided by the bank to the queries submitted by the bidder and the purchase order issued by the bank. In addition, the contract shall include the standard terms and conditions as specified in Annexure 1.

The clause is silent regarding the negotiation rights of the bidder.

Request to modify as below:

The contract will be signed by both the parties and will cover the mutually agreed terms and conditions laid down in the RFP, corrigendum to the RFP; if any, reply provided by the bank to the queries submitted by the bidder and the purchase order issued by the bank. In addition, the contract shall include the mutually agreed standard terms and conditions as specified in Annexure 1.

25 18 3.30.1 Service Level Agreeme nt

At the same time as the Bank notifies the successful Bidder that it’s’ Bid has been accepted, the Bidder shall be enter into a Service Level Agreement (SLA) with the Bank, containing all the Terms and Conditions of this RFP, including

confidentiality, non-disclosure and penalty clauses, and any other clause relevant to the services offered.

Negotiation rights of the bidder is silent in the RFP.

At the same time as the Bank notifies the successful Bidder that it’s’ Bid has been accepted, the Bidder shall be enter into a Service Level Agreement (SLA) with the Bank, containing all mutually agreed Terms and

Conditions of this RFP, including

confidentiality, non-disclosure and penalty clauses, and any other clause relevant to the services offered.

(7)

section 26 18 3.30.4 Service Level Agreeme nt

Services delivered by the vendor should comply with the SLA and any violation of SLA will attract penalties as below: a) Uptime of 99.5% and above: No penalty. b) Uptime of 98.5% and above but below 99.5%: 1% of total annual contract value. c) Uptime of 97.5% and above but below 98.5%: 2% of total annual contract value. d) Uptime of 96.5% and above but below 97.5%: 3% of total annual contract value. e) Uptime of 95.5% and above but below 96.5%: 4% of total annual contract value. f) Below 95.5%: 10% of total annual contract value.

g) Further, if the number of downtime instances during a month exceed 3 times, an additional 0.50 % downtime will be reduced from uptime and the penalty will be

calculated accordingly

Services delivered by the vendor should comply with the SLA and any

violation of SLA will attract penalties as below, subject to a maximum overall limit of 10% of the total annual contract value :

27 18

3.31.1 Performa nce Security

Performance Bank Guarantee of Rs. 25 Lakhs valid for 5 years is to be furnished by the successful Bidder as prescribed in Annexure 16.

We request the Bank to reduce the amount of Performance Security from Rs.25 lakhs to Rs.15 lakhs

28 18

3.31.1 Performa nce Security

Performance Bank Guarantee of Rs. 25 Lakhs valid for 5 years is to be furnished by the successful Bidder as prescribed in Annexure 16.

Requesting bank to reconsider the value of BG

to Rs. 5 Lacs from 25L. Please be guided by the RFP.

29 20

3.37.1. Project Support Personnel

Bidder shall provide a dedicated Project Manager during and post deployment and should have a 24 X 7 X 365 monitoring / proactive monitoring, technical and functional support team with skilled man power for support, monitoring and operations.

We assume that the project

manager/monitoring team would operate remote from the bidder's premises. Request the bank to clarify.

The project manager / monitoring team will operate remotely from the bidder's premises. However, Bidder has to deploy one resource in the Bank's premises as per clause 3.37.2 of the RFP.

(8)

section 30 20 3.37.1. Project Support Personnel

Bidder shall provide a dedicated Project Manager during and post deployment and should have a 24 X 7 X 365 monitoring / proactive monitoring, technical and functional support team with skilled man power for support, monitoring and operations.

Request the bank to clarify the duration up to which the dedicated project manager is required post go-live.

The dedicated project manager, who will act as a single point of contact, is required for the entire duration of the contract.

31 20

3.38.1 Start of Services

The selected Bidder shall be responsible for making all the services of the solution operational within 15 weeks from the date of acceptance of Purchase Order, which will be restricted to 10 days from the date of Purchase Order.

Request the Bank to revise it to 20 weeks from

signing of the contract Please be guided by the RFP.

32 20

3.39 Disaster Recovery Site

The Bidder should mandatorily have a business continuity plan in place, including a DR site hosting the proposed solution, to continue the payment gateway and access control server operations in a scenario where the primary site of business is affected due to a disaster.

We seek clarification on the location of Bank's DR

The Bank's DR site is located at

(9)

section 33 21 3.40 ISO 27001 and PCI-DSS Certificati on

3.40.1. The hosting site for the proposed payment gateway solution should be ISO 27001 certified. In case, the bidder’s hosting site is not ISO 27001 certified as on date of submission of the bid, the Bidder should submit an undertaking stating that the bidder would obtain the required certification within a period of nine months from the date of receipt of the purchase order from the Bank. 3.40.2. The access control server solution should be PCI-DSS certified. In case, the access control server solution is not PCI-DSS certified as on date of submission of the bid, the Bidder should submit an undertaking stating that the bidder would obtain the required certification within a period of nine months from the date of receipt of the purchase order from the Bank.

Request Bank to clarify that the ACS will confirm only to PCI-DSS standards and not to ISO 27001, CERT IN and IT Act 2000

34 21 3.40.2 ISO 27001 and PCI-DSS Certificati on

The access control server solution should be PCI-DSS certified. In case, the access control server solution is not PCI-DSS certified as on date of submission of the bid, the Bidder should submit an undertaking stating that the bidder would obtain the required certification within a period of nine months from the date of receipt of the purchase order from the Bank.

We request the Bank to increase the period for obtaining the required certification from 9 to 12 months.

35 21 3.41.2 On-site visit / Reference Site Visit

The Bidder should provide references of organisations which have

implemented/procured the solution proposed by the Bidder. The reference sites should be fully implemented and live on the current version of the solution being offered.

In Clause 3.3.2 Bidder's who have

implemented solution in India or Globally are eligible to participate, we therefore suggest bank to amend 3.3.2 clause in view of clause 3.41.2 to ensure that proposed solution is live as on date of Bid Submission

(10)

section 36 22 3.43 Penalty for Non-performa nce during Productio n and Operation

In case any complaint registered by the cardholder at Card Centre and forwarded by the Bank to the Bidder, remains unresolved/ open beyond 24 hours, solely on account of inaction by the selected Bidder, a penalty of Rs. 500/- (Rupees Five Hundred only) per instance per day subject to a maximum of 5% of the total annual contract value will be levied from the 2nd day, besides recovery of the damages suffered by the Bank, if any, due to such action.

As per SLA 3.30, bank is levying penalty for down time of below 99.50%. Additional penalty of Rs.500 per instance is too high. Besides bank has not mentioned what kind of complaint cardholder is expected to make. Request bank to drop this penalty criteria.

37 22 3.44.1 Liability on account of any System Comprom ise

Bidder shall inform the Bank immediately with full details of any security lapse / compromise for taking necessary steps against misuse on account of such occurrence and also take steps to mitigate the risk. Bidder shall be fully liable in case of any Security lapse / Compromise and liability arising in such cases shall be reimbursed by the Bidder to the Bank which is subject to a maximum of the yearly contract value.

The BIDDER requests its liability herein to be applicable only when such misuse of account occurs solely due to any act or omission on the BIDDER.

38 22 3.45.1 Bidder Utilisatio n of Know- How and Personnel for Competit ors

The Bank will request a clause that would require a NOC to be obtained from the Bank for using any know-how gained in this contract, if awarded, for another organisation whose business activities are similar in part or in whole to any of those of Union Bank of India anywhere in the world, without prior written consent of the Bank.

In a hosted service, this clause would not be

(11)

section 39 22 3.45.1 Bidder Utilisatio n of Know- How and Personnel for Competit ors

The Bank will request a clause that would require a NOC to be obtained from the Bank for using any know-how gained in this contract, if awarded, for another organisation whose business activities are similar in part or in whole to any of those of Union Bank of India anywhere in the world, without prior written consent of the Bank.

The BIDDER is already agreeing to confidentiality obligation under this agreement. Know-How is the Intellectual Property of the BIDDER, and the same need not be subject to any restriction or prior consent.

This clause stands deleted.

40 22

3.47 Limitatio n of Liability

3.47.1. Bidder's aggregate liability under the contract shall be limited to a maximum of the Contract value. This limit shall not apply to third party claims for

a) IP infringement indemnity; b) Bodily injury (including death) and damage to real property and tangible personal property caused by Bidder's gross negligence. 3.47.3. For the purpose of this section, Contract value at any given point of time, means the aggregate value of the purchase orders placed by Bank on the Bidder that gave rise to claim, under this tender.

The BIDDER requests that the limitation on its direct liability to be restricted to six (6) months payment. Further, the indirect and consequential liabilities to be excluded under all circumstances.

(12)

section 41 22 3.47 Limitatio n of Liability

3.47.1. Bidder's aggregate liability under the contract shall be limited to a maximum of the Contract value. This limit shall not apply to third party claims for

a) IP infringement indemnity; b) Bodily injury (including death) and damage to real property and tangible personal property caused by Bidder's gross negligence. 3.47.3. For the purpose of this section, Contract value at any given point of time, means the aggregate value of the purchase orders placed by Bank on the Bidder that gave rise to claim, under this tender.

Bidder's aggregate liability under the contract shall be limited to a maximum of the Yearly Contract value.

(13)

section 42 23 5 Current ACS Functiona lity

The current functionality of the banks ACS is as follows:

A. Registration (Debit Card)

· Customer authenticated with the Card Number, Expiry Date and ATM PIN. · On authentication, OTP is sent to the registered mobile number

c. Post OTP validation, the customer is asked to set his static password.

B. Registration (Credit Card)

· Customer authenticated with Card number and Date of Birth.

· On authentication, OTP is sent to the registered mobile number.

· Post OTP validation, the customer is asked to set his static password.

C. Subsequent transactions:

· Customer authenticated through both OTP and static password.

We understand bank is going to continue using OTP over SMS and Static password as the authentication mechanism. Few

clarifications-

1)The choice to choose between OTP and password will be given to the cardholder or will be enforced by the bank?

2)For the cases where mobile number of Cardholder is not there with bank, any fallback mechanism in place?

Both OTP and static password are to be

considered while authentication.

1) No choice would be provided to the customer with regards to static password or OTP. Both OTP and the static password will

have to be mandatorily authenticated.

2) For, customers who do not have the mobile numbers registered, their transactions would be declined and a message would be displayed to them to contact the bank's branch to register the mobile number.

43 24 6.1.1 Compatib ility with the Banks infrastruc ture

An essential component of the implementation will be the integration with Banks existing/future systems and features, not limited to the following: · Banks existing Base24 ATM switch or any other switch in future.

· Basks existing Credit Card switch service provider.

Clarification required-

What is the ISO version proposed system is supposed to follow

The proposed system should follow ISO

8583-87 and/or ISO 8583-93 message

(14)

section 44 24 6.1.1 Compatib ility with the Banks infrastruc ture

An essential component of the implementation will be the integration with Banks existing/future systems and features, not limited to the following: · Banks existing Base24 ATM switch or any other switch in future.

· Basks existing Credit Card switch service provider.

What is the message specification to be followed and for what type of transactions PG is supposed to interface with the credit card switch

ISO 8583 message specification is to be followed for integrating with the credit card switch. The Bidder should integrate with the credit card switch for ACS solution.

The Bidder should migrate / integrate the existing merchants of the Bank from the Bank’s existing service provider. However, merchants shall do the necessary changes to interface with new PG.

What is the payment gateway currently used by the bank, is migration of data required to be done for PG

The Bank's payment gateway is currently hosted by M/s ElectraCard Services Pvt. Ltd.

The Bidder should migrate the data (Card number, expiry date, 3D Secure Passwords etc.) of card holders registered for access control server from the Bank’s existing service provider.

Bank has mentioned data migration from the current ACS provider in scope of this RFP. How will that data is going to be shared- 1)Unencrypted?

2)Encrypted data but with the encryption key along?

3)Any other form?

The data would be shared in the encrypted form. The key used would be shared separately with the Bidder selected through this RFP process. 47 24 6.1.5 Compatib ility with the Banks infrastruc ture

The cost for migration / integration from the Bank’s existing service provider shall be borne by the Bidder. This has been taken care in TCO under one time setup and

implementation fee. Bank will facilitate with the existing service provider for smooth migration.

The bidder will not be in a position to validate the data accuracy from the bank's existing system. Request the bank to include a clause limiting the bidder's liability due to

errors/issues arising from the data migrated from the bank's existing system.

Bank will provide the data in existing format and the same needs to be migrated to the new system by the successful bidder at their own cost.

Bank to clarify the current format of the data

Currently data is stored in encrypted form. However, for migration, the data and the encryption key would be shared with the Bidder selected through this RFP process.

(15)

section 49 24 6.2.2 Infrastruc ture and Connecti vity

The Bidder shall have to make the necessary integration and required customisation at the Bidders end to communicate with the Bank’s Base24 ATM switch and credit card service provider’s switch or any other Switch, ATM network, Finacle Core Banking Solution or any other Core Banking Solution

What are the other switches and core banks systems to be integrated and for what transactions

The ACS solution would require integration with the bank's ATM Switch / CBS and also with the credit card switch for fetching customer's mobile number required for sending OTP to the customer.

50 25 6.2.5 Infrastruc ture and Connecti vity

The bidder needs to have direct connectivity with the schemes.

Clarification required- Please specify the schemes

This clause stands modified as under: The Bidder needs to have direct connectivity with Visa, MasterCard and NPCI.

51 26

6.4 Reconcili ation

6.4.1. The Bidder shall be responsible for the daily reconciliation of the PG transactions. 6.4.2. Reconciliation should be

comprehensive to handle Interchange, Settlement, Chargeback’s, etc.

6.4.3. Bidder should provide files of required format compatible to our reconciliation system.

Is this a mandatory requirement This is a mandatory requirement.

52 26

6.5.1 Certificati on

The selected Bidder should also support the requisite certifications, integration,

maintenance, patching, and audit compliance, etc.

We assume that the bidder is expected to support the said certification/integration etc and the bank would bear the cost of such certification/integration etc. Request the bank to clarify.

This clause stands modified as under: The selected Bidder should also support the

requisite certifications, integration,

maintenance, patching, and audit compliance, etc. The costs incurred towards such activities are to be borne by the Bidder.

53 26

6.6.1 Solution Specificat ion

The solution’s admin interface should implement the changes on four eye principle i.e. maker checker.

For what all modules / functions bank needs the maker checker functionality?

Maker checker functionality required for all configurable parameters / modules of the proposed solution.

(16)

section 54 27 6.6.5 Solution Specificat ion (Payment Gateway)

The solution should support Visa, MasterCard, Maestro and RuPay; also transactions through Internet Banking /IVR / IMPS/ Wallets etc. The solution should be configurable / scalable / capable to support any cards of any other card association that the Bank may wish to support in future.

What are the card associations expected to be supported

The solution should support cards of Visa, MasterCard and RuPay (NPCI). However, the solution should be scalable to support any other card association that the Bank may wish to support in the future.

55 27 6.6.5 Solution Specificat ion (Payment Gateway)

The solution should support Visa, MasterCard, Maestro and RuPay; also transactions through Internet Banking /IVR / IMPS/ Wallets etc. The solution should be configurable / scalable / capable to support any cards of any other card association that the Bank may wish to support in future.

What is work scope covered under the word etc.

This clause stands modified as follows: The solution should support Visa, MasterCard, Maestro and RuPay; also transactions through Internet Banking /IVR / IMPS/ Wallets. The solution should be configurable / scalable / capable to support any cards of any other card association that the Bank may wish to support in future. 56 27 6.6.8 Solution Specificat ion (Payment Gateway)

The solution should be able to process various cards - credit and debit, Internet Banking, etc. on various channels like Web, Mobile, IVR, Mail Order etc. The solution should be able to integrate with wallet application and support transactions through Wallet.

Is this integration with an existing wallet application or PG to have an Wallet

The solution should provide convenient access via web Interface to various reports online/ offline/ real time view of payments to a particular merchant/ biller, settlement / usage/ charge back claims, status, transaction status / summary, etc. and admin interface for parameterization, monitor, control, etc. should be the feature of the solution.

What is the full scope of chargeback claims

Chargebacks have to be raised by the Bidder in consultation with the Bank.

58 27 6.6.10 d Solution Specificat ion (Payment Gateway)

Blocking international transactions and selectively allowing international card transactions for merchants decided by the Bank.

Is this BIN Blocking/specific cards

This refers to blocking of transactions originating from certain merchants as decided by the bank. This can be BIN blocking, specific card blocking or both.

(17)

The solution should support multi-channel/ multi-currency/ multi- participant/ multi merchant configuration.

Multi-participant expectation to be defined Participant is the aggregator

The system should support online/ real-time comprehensive and customizable

management dashboard.

Requirement to be explained This clause stands deleted.

The solution should provide comprehensive reporting system. Report/s should be available in any format like- pdf, xlsx, html, csv, txt etc. The report format must be flexible to customize

Clarification required- Is pdf form mandatory

Although PDF format is desirable, it is not mandatory. 62 28 6.6.21 Solution Specificat ion (Payment Gateway)

The solution should provide comprehensive Dispute Management System.

(18)

section 63 29 6.6.24 (d) Solution Specificat ion (Payment Gateway)

Setting up of handling of differential fee structures for merchant/ group of merchants. Fee components, like –

• Application or set-up fee • Minimum Use fee • Statement fee

• Discount rate fee (based on percentage, flat rate, varying rate for debit/credit cards) • Batch Fee

• Transaction Fee - may be fixed amount per transaction or a percentage of the transaction value or both – may vary from merchant to merchant

• Gateway fees

Is fees to be calculated as a part of the requirement

Calculation of fees is in the scope of the solution. 64 29 6.6.24 (f) Solution Specificat ion (Payment Gateway)

The following channels of transactions need to be supported –

• Online

• MOTO (Mail Order Telephone Order) • Standing instruction / Recurring billing

What is the scope of requirement for recurring billing

This clause stands modified as follows: The following channels of transactions need to be supported –

• Online

• MOTO (Mail Order Telephone Order) • Standing instruction 65 30 6.6.24 (k) Solution Specificat ion (Payment Gateway)

Reports which would help the technical support team helping the merchant trouble shoot at the time of facing issues with integration

Does this requirement refer to the user manual This clause stands deleted.

66 30 6.6.24 (n) Solution Specificat ion (Payment Gateway)

Blocking of BIN’s at MID level and system level

(19)

section 67 30 6.6.24 (q) Solution Specificat ion (Payment Gateway)

Validation enabled for checking, validating and taking action of whether transaction needs to be approved or rejected at Merchant level in case of any tampering of value on 3D secure leg of the transaction for both online as well as IVR transactions.

In case if parameter is tampered then the transaction will be declined

The transactions are to be declined if any of the parameters / data elements are not meeting the standard specifications.

68 30 6.6.25 (a) Solution Specificat ion (Payment Gateway)

Complete chargeback management system as per the rules and regulations of the respective card associations (VISA ,MasterCard, RuPay, etc.) with tracking and exception management features

Please elicit the queries on chargeback from respective teams

69 31 6.6.25 (g) Solution Specificat ion (Payment Gateway)

Facility to upload the currency tables in the system as specified by VISA, MasterCard, RuPay, etc. from time to time.

Scope to be defined Please be guided by the RFP.

70 31 6.6.25 (h) Solution Specificat ion (Payment Gateway)

Facility to upload the BIN tables in the system as specified by VISA , MasterCard, RuPay, etc. from time to time

Scope to be defined Please be guided by the RFP.

71 31 6.6.25 (j) Solution Specificat ion (Payment Gateway)

The settlement period can be customized for merchant/ group of merchant as under • Same day

• Next Day/ Next Business Day • 2nd Business Day

• 3rd Business Day

Please elicit the queries' on chargeback from respective teams

72 32 6.6.26 (b) Solution Specificat ion (Payment Gateway)

Support full EMV (VISA & MasterCard) merchant acquiring specifications for authorizations and settlement.

(20)

section 73 32 6.6.26 (c) Solution Specificat ion (Payment Gateway)

Multi-currency support for PG merchants. Various combinations required for Purchase, Settlement and Payment currencies. Ability to handle transaction in one currency, settle with association in another currency and pay the merchant the currency as per his choice.

This scope is outside PG Please be guided by the RFP.

74 32 6.6.26 (d) Solution Specificat ion (Payment Gateway)

Option to enter Master data pertaining to the central office, regional offices and city offices. Multiple address requirements and also the linking of the same with the relationship.

Where has this got to be maintained This clause stands deleted.

75 32 6.6.26 (e) Solution Specificat ion (Payment Gateway)

Addition of new MCC codes, BIN, exchange rates (both online updates and file upload should be possible), MPE file

(MasterCard)/VISA etc. files etc.

Scope of exchange rate upload and MPE file to be defined

76 32 6.6.26 (f) Solution Specificat ion (Payment Gateway)

Flexibility to apply different MSF schemes for on-us and off-us cards (Product based, Volume based, Slab based, interchange).

Requirement to be explained Please be guided by the RFP.

77 32 6.6.26 (g) Solution Specificat ion (Payment Gateway)

Support for following elements of a merchant plan:

• Different Payment Frequencies • Various Payment Methods • Billing Frequency

• Statement Frequency • Currency Code

(21)

section 78 32 6.6.26 (i) Solution Specificat ion (Payment Gateway)

Merchant setup checks –Validations for both online and batch upload should be possible

What validation needs to be performed Please be guided by the RFP.

79 32 6.6.26 (k) Solution Specificat ion (Payment Gateway)

Support for Merchant Chaining and defining hierarchy within the chain. The hierarchy would impact statement etc.

Clarification required- Requirement to be elaborated

Support for merchant chaining and defining hierarchy refers to supporting of Super merchant and sub-merchants under the super merchant. 80 32 6.6.26 (n) Solution Specificat ion (Payment Gateway)

Multiple out file processing at predefined frequency

Clarification required- Requirement to be elaborated

This refers to processing of multiple files for settlement and clearing.

81 33 6.6.27 to 6.6.31, 6.6.34,6.6 .35, 6.6.37. Solution Specificat ion (Payment Gateway)

Fraud Management System Clarification required-

Scope of the fraud management system Please refer clause 6.6.27 of the RFP.

FRM for ecommerce Request Bank to clarify that FRM is only from

the issuing perspective

Fraud Risk Management is only from the issuing perspective.

(22)

The fraud risk management component should be able to integrate with any of the Banks existing/future Fraud Management Systems and also with other third party systems like NPCI fraud monitoring system and VISA /Master /CBS or any other if Bank so desires.

Clarifications required from Bank: Whether this is separate application required to monitor all channel transactions or specific to PG. If specific to PG, based on requirement efforts needs to be shared by PSG.

Please refer clause 6.6.27 of the RFP.

The fraud risk management component should be able to integrate with any of the Banks existing/future Fraud Management Systems and also with other third party systems like NPCI fraud monitoring system and VISA /Master /CBS or any other if Bank so desires.

Request bank to provide list of third party

component to be integrated Please be guided by the RFP.

85 33 6.6.33. Solution Specificat ion (Payment Gateway)

Solution should be able to generate cases or alerts.

What activities to be covered under this

This clause stands modified as under: Solution should be able to generate cases or alerts based on the parameters and the risk levels defined by the Bank.

(23)

Solution should provide options to Fraud Analysts to work on the queues and identify the case as a dispute, confirmed by customer, block the card, block BIN, block merchant or terminal, etc.

Payment Gateway FRM Module supports the following features as per industry requirement Risk Management - Floor Limit Settings Risk Profile for Merchant

Max floor limit - amount

Max floor limit - transaction count Max daily processing amount Max credit processing amount

Auto-inactivation of terminal in case of risk parameter violation

Risk Management - Card Specific Settings Max 24hr debit amount

Max 24hr credit amount Max daily transaction count Minimum Transaction Amount

Risk Management / Negative Card Settings Negative BIN

Negative Card Declined Card Data Storage

IP Blocking facility to Bank for restricting suspicious IP's

Hope Bank is also referring to the same feature in Payment Gateway FRM tool, Request Bank to confirm on the same

87 33 6.6.40 Solution Specificat ion (Access Control Server)

It should support all debit/credit/prepaid cards of Visa / MasterCard / RuPay etc. issued by the Union Bank of India as well as cards issued by the RRB sponsored by the Bank i.e. Kashi Gomti Samyut Gramin Bank.

Request the bank to clarify whether the current card volumes mentioned in the RFP and the TCO calculation is inclusive of the RRB cards.

(24)

section 88 34 6.6.44 Solution Specificat ion (Access Control Server)

The registration process as also every subsequent online transactions needs to be authenticated by an OTP sent to the

customer’s registered mobile number. This is in addition to the static password set by the user during registration.

Bank to clarify the statement. What will be the mode of authentication for registration and for subsequent transactions? Is it going to be only OTP or combination of both? DO the existing customers have to re register/go for fresh registration.

Please refer to "Current ACS Functionality" on page 23 of the RFP document. The mode

of authentication for registration and

subsequent transactions is OTP AND static password both. Existing customer will not have to re-register or go for fresh registrations. Please refer to clause 6.1.3 of the RFP document. 89 36 Annexure 1 Standard Terms and Condition s Clause 1 (Represen tations and Warrantie s)

In order to induce the Bank to enter into the Contract / Agreement, the Service Provider hereby represents and warrants as of the date hereof, which representations and warranties shall survive the term and termination hereof, the following:..

In order to induce the Bank to enter into the Contract / Agreement, the Service Provider hereby represents and warrants as of the date hereof as follows:, which representations and warranties shall continue to be true during subsistence of the Contract / Agreement:

This clause stands modified as follows: In order to induce the Bank to enter into the Contract / Agreement, the Service Provider hereby represents and warrants as of the date hereof as follows:, which representations and warranties shall continue to be true during subsistence of the Contract / Agreement:

90 37 Annexure 1 Standard Terms and Condition s Clause 1.6 (Represen tations and Warrantie s)

That there are – (a) no legal proceedings pending or threatened against Service provider or its team which adversely affect/may affect performance under this Contract / Agreement; and (b) no inquiries or investigations have been threatened,

commenced or pending against the Service provider or any sub-Service provider / third part or its team members by any statutory or regulatory or investigative agencies.

That there are – (a) no legal proceedings pending or threatened against Service provider or its team which adversely affect/may affect performance under this

Contract / Agreement; and (b) no inquiries or investigations have been threatened,

commenced or pending against the Service provider or any sub-

Service provider / third part or its team members by any statutory or regulatory or investigative agencies which adversely affect/may affect performance under this Contract / Agreement;

This clause stands modified as follows: That there are – (a) no legal proceedings pending or threatened against Service provider or its team which adversely affect/may affect

performance under this

Contract / Agreement; and (b) no inquiries or

investigations have been threatened,

commenced or pending against the Service

provider or any sub-

Service provider / third part or its team members by any statutory or regulatory or

investigative agencies which adversely

affect/may affect performance under this Contract / Agreement.

(25)

section 91 38 Annexure 1 Standard Terms and Condition s Clause 3.1 (Subcontr acting)

It is agreed between the parties that service provider shall not procure services either through subcontract without the prior written permission of the Bank. If subcontracting is permitted by the Bank then;…

3.1.1 Service provider shall be responsible for all the services provided to the Bank

regardless of which entity is conducting the operations on behalf of contractor.

3.1.2 The Service provider shall be

responsible for managing the activities of its personnel and/or the personnel of subservice provider and under no circumstances and at no point of time the subservice provider of the Service provider will be considered employees, subservice provider or agent of the Bank.

3.1.3 The Service provider shall be responsible for ensuring that the Sub-Contractor comply with all security & confidentiality requirement of the Bank set out in this agreement and the Bank can obtain independent report for the same.

Request to modify as follows:

It is agreed between the parties that service provider shall disclose all subcontracts to the Bank and shall reserve the right to ask the subcontractors to terminate the services, if the Bank so desires. If subcontracting is permitted by the Bank then;

This clause is as per the RBI guidelines on outsourcing hence cannot be modified.

92 38 Annexure 1 Standard Terms and Condition s Clause 4.3 (Human Resource Requirem ent)

In case the performance of the Business Correspondents/their CSP/agent/employees engaged in the project is not satisfactory or is detrimental to the interests of the Bank, The Service provider shall have to replace the said person within the time limits stipulated by the Bank. Where the Service provider fails to comply with the Bank’s request, the Bank may replace the said person, Business Correspondent or their agents/employees on its own.

The bidder per se is not providing any BC under this RFP. Request the bank to limit the clause to the bidder's employees agents acting on its behalf in the execution of bidder's obligations under the contract.

This clause stands modified as follows:

In case the performance of the

agent/employees engaged in the project is not satisfactory or is detrimental to the interests of the Bank, The Service provider shall have to replace the said person within the time limits stipulated by the Bank.

(26)

section 93 38 Annexure 1 Standard Terms and Condition s Clause 4.3 (Human Resource Requirem ent)

In case the performance of the Business Correspondents/their CSP/agent/employees engaged in the project is not satisfactory or is detrimental to the interests of the Bank, The Service provider shall have to replace the said person within the time limits stipulated by the Bank. Where the Service provider fails to comply with the Bank’s request, the Bank may replace the said person, Business Correspondent or their agents/employees on its own.

In case the performance of the Business Correspondents/their CSP/agent/employees engaged in the project is not satisfactory or is detrimental to the interests of the Bank, The Service provider shall have to

replace the said person within a reasonable time. Where the Service provider fails to comply with the Bank’s request, the Bank may replace the said person, Business Correspondent or their agents/employees on its own.

Please refer Sr. No. 92 of this corrigendum.

94 38 Annexure 1 Standard Terms and Condition s Clause 4.6 (Human Resource Requirem ent)

The Service provider shall extend all of the outsourced banking and financial services by deploying such personal that have high integrity and meet the qualifications and other criteria stipulated by the Reserve Bank of India , Government or the Bank from time to time and agrees and undertake that during the subsistence of this agreement they will not employ any personnel/individual below the Minimum Wages fixed by appropriate Government on this behalf from time to time ,as per the provisions of Minimum Wages Act 1948.

The personnel deployed to carry out the Services under the Agreement shall meet the qualifications and other criteria stipulated by the Reserve Bank of India, Government or the Bank from time to time and agrees and undertake that during the subsistence of this agreement they will not employ any personnel/individual below the Minimum Wages fixed by appropriate Government on this behalf from time to time ,as per the provisions of Minimum Wages Act 1948.

This clause stands modified as follows: The personnel deployed to carry out the Services under the Agreement shall meet the qualifications and other criteria stipulated by the Reserve Bank of India, Government or the Bank from time to time and agrees and undertake that during the subsistence of this agreement they will not employ any personnel/individual below the Minimum Wages fixed by appropriate Government on this behalf from time to time, as per the provisions of Minimum Wages Act 1948.

(27)

section 95 39 Annexure 1 Standard Terms and Condition s Clause 6.1

Purchaser/the Bank shall own and have a right in perpetuity to use all Intellectual Property Rights which have arisen out of or in connection with the implementation of the Contract, if any, including all processes, products and Services which have been developed by the Service provider during the performance of Service(s) and for the purposes of inter-alia, use or sub-license of such service(s) under the Contract. The Service provider undertakes to disclose all Intellectual Property Rights arising out of or in connection with the performance of the service(s) to the Bank and execute all such agreements/documents and file all relevant applications, effect transfers and obtain all permits, approvals, consents and no objections that may be necessary in this regard to effectively transfer and conserve the Intellectual Property Rights of the Bank.

As the entire solution has been developed in-house and the IPR is owned by Bidder, request the Bank that the IPR for the solution remain with the Bidder.

The BIDDER would like to clarify that the Pre-existing IPR of the BIDDER and its know-how knowledge will continue to be the sole property of the BIDDER.

This clause stands modified as follows: Purchaser/the Bank shall have a right in perpetuity to use all Intellectual Property Rights which have arisen out of or in connection with the implementation of the Contract, if any, including all processes, products and Services which have been developed by the Service provider or its

associates or third party during the

performance of Service(s) and for the purposes of inter-alia, use or sub-license of such service(s) under the Contract. The Service provider undertakes to disclose all Intellectual Property Rights arising out of or in connection with the performance of the service(s) to the Bank and execute all such agreements/documents and file all relevant applications, effect transfers and obtain all permits, approvals, consents and no objections that may be necessary in this regard to effectively conserve the right to use the Intellectual Property by the Purchase/the Bank. 96 41 Annexure 1 Standard Terms and Condition s Clause 10 (Confiden tiality)

Confidential Information shall at all times remain the sole and exclusive property of the disclosing Party. Upon termination of the Contract / Agreement, Confidential

Information shall be returned to the disclosing Party or destroyed, if incapable of return. The destruction shall be witnessed and so

recorded, in writing, by an authorized representative of each of the Parties.

Request to modify as below: Confidential

Information shall at all times remain the sole and exclusive property of the disclosing Party. Upon termination of the Contract /

Agreement, Confidential Information shall be returned to the disclosing Party or destroyed, if incapable of return and certified to be so destroyed by the Party. The destruction shall be witnessed and so recorded, in writing, by an authorized representative of each of the Parties.

This clause stands modified as follows: Confidential Information shall at all times remain the sole and exclusive property of the disclosing Party. Upon termination of the

Contract / Agreement, Confidential

Information shall be returned to the disclosing Party or destroyed, if incapable of return.

(28)

section 97 43 Annexure 1 Standard Terms and Condition s Clause 11 (Right of Inspectio n and Periodic Audit) and Clause 14 (User Acceptan ce Test and Quality Check)

"11. Bank's/Reserve Bank of India’s Right of Inspection and Periodic Audit" "14.User Acceptance Test and Quality Check"

Any inspection / audit will be cooperative of BIDDER’s confidentiality and security restrictions and guidelines; and any other conditions as to bearing of costs shall be subject to parties mutually agreed terms.

The inspection / audit, for the sake of this RFP, shall be confined to the services rendered by the Bidder and subject to confidentiality and security restriction and guidelines of the Bidder. However, such restrictions and guidelines should not limit the right of the Bank/RBI to inspection / audit with regards to the services offered to the Bank. 98 43 Annexure 1 Standard Terms and Condition s Clause 11.1 (Bank's/R eserve Bank of India’s Right of Inspectio n and Periodic Audit )

The Bank/Reserve Bank of India reserves the right to inspect and monitor/assess the progress of the Services at any time during the course of the Contract / Agreement. The Bank may demand and upon such demand being made, the Bank shall be provided with any document, data, material or any other information, which it may require, to enable it to assess the progress of the Services.

The Bank/Reserve Bank of India reserves the right to inspect and monitor/assess the progress of the Services at any time during the course of the Contract / Agreement by giving 10 day's prior notice to the Bidder. The Bank may demand and upon such demand being made, the Bank shall be provided with any document, data, material or any other

information, which it may require, to enable it to assess the progress of the Services.

This clause stands modified as follows: The Bank/Reserve Bank of India reserves the right to inspect and monitor/assess the progress of the Services at any time during the course of the Contract / Agreement by giving 10 day's prior notice to the Bidder. The Bank may demand and upon such demand being made, the Bank shall be provided with any document, data, material or any other information, which it may require, to enable it to assess the progress of the Services.

(29)

section 99 43 Annexure 1 Standard Terms and Condition s Clause 11.3 (Bank's/R eserve Bank of India’s Right of Inspectio n and Periodic Audit )

The Service provider shall allow the Reserve Bank of India or persons authorized by them to access the Bank/service provider’s documents, records & service providers’ transactions and other necessary information given to or stored or processed by the service provider within a reasonable time. In the event these are not made accessible to Reserve Bank of India within a reasonable time, the service provider will reimburse the Bank which they may be liable to pay supervisory fees to Reserve Bank of India.

The Service provider shall allow the Reserve Bank of India or persons authorized by them to access the Bank/service provider’s documents, records & service providers’ transactions and other necessary information given to or

stored or processed by the service provider within a reasonable time pertaining to the Services provided under the Agreement. In the event these are not made accessible to Reserve Bank of India within a

reasonable time, the service provider will reimburse the Bank which they may be liable to pay supervisory fees to Reserve Bank of India. Please be guided by RFP. 100 43 Annexure 1 Standard Terms and Condition s Clause 11.6 (Bank's/R eserve Bank of India’s Right of Inspectio n and Periodic Audit)

The Bank shall utilize the services of internal or external auditors for ensuring proper operations by the Service provider.

We assume that the cost of audit and related compliance is borne by the bank. Request the bank to clarify.

Cost towards lodging / boarding / travelling of the auditors appointed by the bank shall be borne by the Bank throughout the period of agreement. However, any other cost incurred during such audit will have to be borne by the Bidder.

(30)

section 101 44 Annexure 1 Standard Terms and Condition s Clause 12.1 (Review Of Contract And Performa nce)

The Bank shall have the right of quarterly review of the performance of the Service provider under the contract which would be basis of continuation or termination of the same. The Bank on mutual agreement between both Parties may change the periodicity of such review.

Bank has remedies by way of liquidated damages, penalty etc in case of deviation from agreed Service level terms.

This clause stands modified as follows: The Bank shall have the right of quarterly review of the performance of the Service provider under the contract. The Bank on mutual agreement between both Parties may change the periodicity of such review.

(31)

section 102 44 Annexure 1 Standard Terms and Condition s Clause 13 (Delay in the Contracto r’s Performa nce), Clause 20 (Terminat ion) and Clause 21 (Consequ ences of Terminati on)

"13.2 A delay by the Service provider in the performance of its Contract obligations shall render the Service provider liable to any or all the following sanctions: (a) Forfeiture of its performance Bank guarantee if any , (b) Imposition of liquidated damages and penalties, and / or (c) Termination of the Contract for default."

"20. Termination:

"21. Consequences of Termination"

A. BIDDER would like to discuss with Bank that any termination of the Contract can only be for cause accompanied with a cure period of 180 days for the rectification of such breach failing which the non-defaulting party can terminate the agreement.

B. The BIDDER would like to clarify that termination assistance services can be availed from the BIDDER based on mutually

agreeable charges and terms, as opposed to the liability of bear the costs and expenses relating to procurement of services from third party.

(32)

section 103 44 Annexure 1 Standard Terms and Condition s Clause 13.2 (Delay in the Contracto r’s Performa nce)

A delay by the Service provider in the performance of its Contract obligations shall render the Service provider liable to any or all the following sanctions:

(a) Forfeiture of its performance Bank guarantee if any ,

(b) Imposition of liquidated damages and penalties, and / or

(c) Termination of the Contract for default

A delay by the Service provider in the performance of its Contract obligations shall render the Service provider liable to any or all the following sanctions:

(a) Forfeiture of its performance Bank guarantee if any ,

(b) Imposition of liquidated damages and penalties, and / or

(c) Termination of the Contract for default

This clause stands modified as follows: A delay by the Service provider in the performance of its Contract obligations shall render the Service provider liable to

imposition of liquidated damages and

(33)

section 104 46 Annexure 1 Standard Terms and Condition s Clause 16 (Indemnit y)

Indemnity Clause under Standard Terms and Conditions.

BIDDER would like to clarify that BIDDER is willing to indemnify only for any breach of any intellectual property of products as delivered by BIDDER provided such breach of IPR is solely caused by any act or omission of the BIDDER.

Further, the BIDDER would like to clarify that its indemnification obligation will be limited to direct claim amount finally awarded by the court of law and subject to the Bank: (i) notifies the BIDDER immediately after the claim is asserted or threatened, (ii) BIDDER has full control over the defence, settlement or other resolution of the claim, (iii) Bank does not take a position that is adverse to BIDDER, (iv) at BIDDER's request, Bank assists the BIDDER in defending, settling or otherwise resolving the claim, and (v) there is no modification to the Services without the written authorization of the BIDDER. Further, any deduction from the BIDDER's fee is subject to its prior written consent.

(34)

section 105 46 Annexure 1 Standard Terms and Condition s Clause 16.3 (Indemnit y)

The responsibility to indemnify shall survive the termination of the Agreement/ Contract for any reason with regard to any indemnity claims arising in relation to performance thereof. The Service Provider shall ensure that in addition to security features deployed in the technology, controls and operational procedures should ensure protection of the Bank from loss, disclosure or frauds.

The responsibility to indemnify shall survive for a period of one year post the termination of the Agreement/ Contract for any reason with regard to any indemnity claims arising in relation to performance thereof. The Service Provider shall ensure that in addition to security features deployed in the technology, controls and

operational procedures should ensure

protection of the Bank from loss, disclosure or frauds as agreed as per the SLA.

106 47 Annexure 1 Standard Terms and Condition s Clause 16.8 (Indemnit y)

The Service Provider shall maintain adequate documentation, records, audit trails, etc and cooperate with the Bank’s internal audit teams, regulatory authorities and third-party external auditors for conducting periodical audit and arrange for necessary access to relevant information / assets under the control of The Service provider

The Service Provider shall maintain adequate documentation, records, audit trails, etc pertaining to the services provided under this RFP and cooperate with the Bank’s internal audit teams, regulatory authorities and third-party external auditors for conducting periodical audit and arrange for necessary access to relevant information / assets under the control of The Service provider

This clause stands modified as follows: The Service Provider shall maintain adequate documentation, records, audit trails, etc pertaining to the services provided under this RFP and cooperate with the Bank’s internal audit teams, regulatory authorities and

third-party external auditors for conducting

periodical audit and arrange for necessary access to relevant information / assets under the control of The Service provider.

107 48 Annexure 1 Standard Terms and Condition s Clause 20.4 (Terminat ion)

Bank, without prejudice to any other right or remedy for breach of Contract, by a written notice of default sent to the Contractor, may terminate the Contract / Agreement in whole or in part.

Request the bank to specify the number of days of notice provided to the bidder in this regard and that the cure period in section 21.1 starts after the completion of such notice period.

This clause stands modified as follows: Bank, without prejudice to any other right or remedy for breach of Contract, by a written notice of 30 days of default sent to the Contractor, may terminate the Contract / Agreement in whole or in part.

(35)

section 108 49 Annexure 1 Standard Terms and Condition s Clause 21.3 (Indemnit y)

Where the termination of the Contract / Agreement is prior to its stipulated term on account of a default on part of the Service provider or due to the fact that the survival of the Service provider as an independent corporate entity is threatened/has ceased, the Bank shall pay the Service provider for that part of the Service(s) which have been authorized by the Bank and satisfactorily performed by the Service provider up to the date of termination, without prejudice to any other rights, the Bank may retain such amounts from the payment due and payable by the Bank to the Service provider/ Service provider as may be required to offset any losses caused to the Bank as a result of any act/omissions of the Service provider / Service provider.

Request to modify as follows:

Where the termination of the Contract / Agreement is prior to its stipulated term on account of a default on part of the Service provider or due to the fact that the survival of the Service provider as an independent corporate entity is threatened/has ceased, or for any other reason other than default by the Service Provider, the Bank shall pay the Service provider for that part of

the Service(s) which have been authorized by the Bank and satisfactorily performed by the Service provider up to the date of termination, without prejudice to any other rights, the Bank may retain such amounts from the

payment due and payable by the Bank to the Service provider/ Service provider as may be required to offset any losses caused to the Bank as a result of any

act/omissions of the Service provider / Service provider

This clause stands modified as follows: Where the termination of the Contract / Agreement is prior to its stipulated term on account of a default on part of the Service provider or due to the fact that the survival of the Service provider as an independent corporate entity is threatened/has ceased, or for any other reason other than default by the Service Provider, the Bank shall pay the

Service provider for that part of

the Service(s) which have been authorized by the Bank and satisfactorily performed by the Service provider up to the date of termination, without prejudice to any other rights, the Bank may retain such amounts from the payment due and payable by the Bank to the Service provider/ Service provider as may be required to offset any losses caused to the Bank as a result of any act / omissions of the Service provider / Service provider.

109 50 Annexure 1 Standard Terms and Condition s Clause 21.6 (Indemnit y)

In the event of termination of this Agreement for any reason, the Bank shall have the right to publicize such termination to caution the customers/public from dealing with the Contractor.