By IANS
New Delhi : Air India is implementing an integrity pact in cooperation with the Central Vigilance Commission where all its contracts worth Rs.100 million ($25 million) and above would be made more transparent.
The airline announced Tuesday the introduction of an integrity pact, which will require disclosure of any undue payment made for gaining a bid or executing a contract.
Chairman and managing director of the National Aviation Co of India Ltd (NACIL), which owns the Air India brand, V. Thulasidas announced this at a vendor meet here.
NACIL is implementing the pact in cooperation with the CVC, the Air India statement said. The pact involves a voluntary agreement between the bidder and Air India for abstaining from any bribery or engaging in malpractices, including promoting influential bidders.
Also, NACIL in consultation with the CVC would appoint external independent monitors who will facilitate the pre-tender stage.
A bidder would be disqualified and debarred for five years and his tender and earnest money would be forfeited if he were found violating any provision of the pact.
Vendors would have to sign the pact and submit it along with the financial and technical bids. A pre-signed integrity pact by the principal would form part of the tender document.