INVITATION TO BID FOR PROVISION OF VALUATION SERVICES AT KHASAKH COOPERATIVE SOCIETY LIMITED
Tender: Invitation to Bid for Provision of Valuation Services
Organisation: Khasakh Cooperative Society Limited
1. Background Overview
Khasakh is a multi-purpose cooperative society registered under provision of section 6(2) of the Cooperative Societies Act Cap 122 as Amended with a certificate number 9985/RCS. It is owned, governed and subscribed to by former and current staff of World Vision, their spouses and children. As a Christian financial Institution aimed at offering reliable and effective financial services for a healthy and wealthy people, Khasakh operations are geared towards extending credit facilities to members at competitive interest rates, growing members’ savings through attractive interest rates, engaging in cutting edge clientele financial advice and carrying out secure, profitable and competitive investment opportunities on behalf of its members.
Khasakh credit products include short term loans, salary loans, land loans and asset financing loans. As part of the procedures for accessing Land and Asset Financing Loans,
Khasakh Cooperative Society Limited is seeking for interested parties to offer accurate, timely and reliable valuation and search reports for all types of assets, business valuations, real estate advisory, estate agency and land properties
To recruit a registered valuation company/firm to establish a fair and reasonable valuation of properties, land survey, boundary opening and verification, based on market value, market rent and current lease rate to give a true and fair value in use.
3. Scope of Work
The scope of work for the firm will include but not be limited to:
i. The valuation services shall cover land, buildings, vehicles, businesses, estates, plant and machinery among others.
ii. Determination of the market value as the estimated amount for which the property may be exchanged on date of valuation between willing buyer and a willing seller at an arm’s length transaction.
iii. Determination of the market rent at which the property may be leased on the date of valuation.
iv. Determination of forced sale value for which the collateral may be sold off during unforeseeable events of delinquency and default of borrower.
v. Upon conduct of the analysis the valuer should provide a detailed report for management.
vi. The valuer is responsible to deliver reports with accuracy and complete transparency.
The valuation report shall be comprehensive containing but not limited to purpose, scope, date of appraisal, property location, data pertaining to the asset and title verification. It should contain how the valuation was carried out, method applied and justification.
The report shall be accompanied by certified true copies of deeds, pictures of the asset with dater, scanned maps, compound layouts, vicinity maps, name of occupants, latest real estate tax assessment, dues among others.
To prepare and submit hard copies of the valuation report within 3 working days from date of commencement.
6. Payments and other fees
Payment shall be made upon completion and submission of valuation report.
The proposed fee structure expressed in Ugandan currency including applicable taxes should be clearly stated depending on the regions, areas, location or kilometers.
7. Institutional Arrangements.
The manager shall be responsible for the coordination of meetings and other activities to be conducted by the firm/company.
8. Eligibility criteria
i. Brief background or profile of the registered firm
ii. Company brochure
iii. List of key officers in the company
iv. Compliance and legality
v. Financial proposal
vi. At least five years’ professional experience in valuation
vii. Evidence of having undertaken similar assignments