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ONGC's anti-forgery move may ground projects-I: Tough new rule to come into place
Apr 11:   ONGC has put together a new anti-forgery provision that may spell trouble for all suppliers of equipment and services to the E&P major
8The provision requires validation of all documents of a winning bidder.
8While that sounds fine, there is now going to be a draconian provision that all certificates issued by third parties will have to be stand validated by the original issuer within a given period of time.
8If he validation does not come through, even though it may be not be due to the fault of the winning bidder, the purchase order will stand cancelled.
Find out more by clicking on Details on what this provision entails and how it will impact the the E&P equipment and service industry
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