The objective of IFA system is to provide independent financial inputs to the competent financial authorities (CFAs) in exercise of delegated financial powers to expedite decision making thereby providing greater satisfaction to the troops deployed in the field as well as enhancing operational preparedness.
ROLE OF IFA CELL
1. Render advice to CFAs on financial matters as well as Rules & Regulations.
2. Participates in decision making process and ensures optimal utilisation of resources allocated and achievement of organisational objectives.
According concurrence from Acceptance of Necessity angle and to scrutinize and render advice on proposals which have financial bearing and fall within the competence of CFA excluding Works.
To Vet Tender Enquiry, list of vendors & Comparative Statement of Tenders.
To Attend TPC/PNC/CNC for assessment of reasonability of rates of procurement.
To Accord Financial Concurrence and vet Contract Agreements/Supply Orders.
Post contractual issues, mostly in connection with Delivery Period extension and sometimes for placing additional quantity under “ Option Clause” or “Repeat Order”.