New Delhi: Firms eyeing multi-crore government contracts will have to provide details of payments made by them to brokers or any intermediary besides disclose their association with foreign companies, the Central Vigilance Commission (CVC) has said. “Foreign bidders to disclose the name and address of agents and representatives in India and Indian bidders to disclose their foreign principals or associates. Bidders to disclose the payments to be made by them to agents/brokers or any other intermediary. Bidders to disclose any transgressions with any other company that may impinge on the anti-corruption principle,” the CVC said in a recent directive. The integrity pact mandates appointment of independent external monitors (IEMs), who should examine the integrity process in a tender.

Source: Mint January 15, 2017 05:50 UTC