1. ABSTRACT
NTPC divides a single big contract into smaller packages and invites bidder to bid and work accordingly
to these packages. Each package is considered to be as a separate contract. To allot such contract to the
best producer (best in terms of capacity, quality and cost), NTPC opens tenders for bidding.
The Financial Concurrence Department, had to analyze and check all the financial reports and documents
pertaining to a contract right from the beginning (i.e. the feasibility report of the project) till the closing of
contract. However, the primary focus was to check the financial (i.e. capability and prices) of various
bidders of the contracts; i.e. preparation of Financial analysis to check turnover, net-worth and various
other parameters such as ratios, arithmetic check along with error location in the price bids, and the cost
estimation derived for a contract. It also includes study of change in price at each stage of amendments,
and rules related to change in price of each items for different contracts.
The other work in department consisted of Pre-auditing or the Arithmetic Error Location in price bids
submitted by various bidders; Vetting/ Checking of Bid documents; Financial, Technical and Legal
formalities before assigning any contract to any bidder.
