Client: SACAM AGRO PROCESSING MILL NIGERIA LIMITED-Producers of “Three Roses Rice” and owners of 240 Tons per day Rice Mill located at Kilometre 15 Uyo-Ikot Epeme Road, Ikot Afa, Akwa Ibom State Available number of lots: 7,500 lots Quantity per lot: ½ (half) a Ton Transaction cost: N150,000 per lot Administrative fee per Lot: ₦2,250 per lot Warehousing fee: N500 per lot Insurance Premium: N1,500 per lot Bank Charges: N223 per lot Transaction price: N173,000 per lot Net Profit: N18,527 per lot Transaction cycle: 30 days FURTHER TERMS 1. Where you are bidding on behalf of members of your Hectare by Hectare Cooperative Society, you shall be required to indicate the name and telephone number of each of such members.
2. All successful bidders shall be required to pay the Transaction Cost, Administrative Fee, Warehousing Fee, Insurance Premium and Bank Charges for each lot to the specified Escrow account managed by UBA Plc within two days of notification.
3. Payment of Transaction Price to successful Bidders shall be made in two instalments. The first instalment shall be made on or before the 15th day from the last day provided for payment of transaction cost, administrative fee, Warehousing fee, Insurance Premium and Bank Charges. The second instalment shall be made not later than 15days from payment of First Instalment.
4. Payment of Transaction Price shall be secured by Bank Guarantee to be issued by Off-taker’s Bank prior any payment by successful Bidders.
5. All Funds paid into the Escrow Account by the successful Bidders shall be managed and disbursed directly by UBA PLC.
6. All Payments by the Off-taker shall be made directly to the Escrow Account and managed by UBA PLC.
7. All Payments of Capital and Profit to successful Bidders shall be made directly by UBA PLC.
CONDITION FOR PARTICIPATION To qualify for participation, a Stakeholder must have introduced a minimum of 2 new Stakeholders within 30days before the last day of submission of this bid. CRITERIA FOR ALLOCATION OF LOTS 1. Number of new Stakeholders introduced.
2. Where a bidder is a sub-Aggregator, bidding on behalf of his/her Cooperative, the regular purchase of produce by the members on the HBH Transaction Platform shall be a major consideration. IMPORTANT NOTES 1. Any bid above 30% of available lots shall amount to over-bidding and as such be considered invalid.
2. Where a successful bidder fails to pay the Transaction cost, Administrative fee, Warehousing fee and Insurance Premium within the given period, he/she shall lose the lot(s) awarded.
3. The number of lots to be approved shall be determined by the Bid Management Team.
