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This document outlines the Integrity Pact and Arbitration guidelines under the Arbitration and Conciliation Act, 1996, detailing obligations of Bharat Heavy Electrical Ltd. and its bidders.
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An integrity pact is a tool to promote transparency and integrity in public procurement by ensuring that all parties commit to transparency and accountability. Arbitration is a method of resolving disputes outside of the courts, with an arbitrator making a decision based on the facts presented.
All parties involved in a contract, including bidders, contractors, and the contracting authority, are typically required to file an integrity pact and agree to arbitration terms.
To fill out an integrity pact, parties must complete the agreement form, provide necessary company details, specify the terms of integrity and compliance, and sign it. For arbitration, parties should fill out the arbitration agreement with details about the arbitrators and the process to be followed.
The purpose of an integrity pact is to prevent corruption and unethical behavior in public procurement, while arbitration aims to provide a neutral ground for resolving disputes efficiently and effectively.
Information that must be reported includes the parties involved, the nature of the contract, terms of compliance with integrity norms, the arbitration process details, and any specific clauses relevant to potential disputes.
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