Procurement of amc(annual maintenance contract) for hvac ... - GAIL
Procurement of amc(annual maintenance contract) for hvac ... - GAIL
Procurement of amc(annual maintenance contract) for hvac ... - GAIL
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24 Contract Per<strong>for</strong>mance<br />
Security:<br />
No verbal agreement or inference from conversation with any<br />
effect or employee <strong>of</strong> the EMPLOYER either be<strong>for</strong>e, during or<br />
after the execution <strong>of</strong> the CONTRACT agreement shall in any way<br />
affect or modify and <strong>of</strong> the terms or obligations herein contained.<br />
Any change in layout due to site conditions or technological<br />
requirement shall be binding on the CONTRACTOR and no extra<br />
claim on this account shall be entertained.<br />
24.1 The CONTRACTOR shall furnish to the EMPLOYER, within 15<br />
days from the date <strong>of</strong> notification <strong>of</strong> award, a security in the sum<br />
<strong>of</strong> 10% <strong>of</strong> the accepted value <strong>of</strong> the tender or the actual value <strong>of</strong><br />
work to be done whichever is applicable due to any additional<br />
work or any other reasons, in the <strong>for</strong>m <strong>of</strong> a Bank draft/Banker’s<br />
cheque or Bank Guarantee or irrevocable Letter <strong>of</strong> credit (as per<br />
pr<strong>of</strong>orma enclosed) as Contract Per<strong>for</strong>mance Security with the<br />
EMPLOYER which will be refunded after the expiry <strong>of</strong> DEFECTS<br />
LIABILITY PERIOD.<br />
24.2 CONTRACTOR can furnish the Contract Per<strong>for</strong>mance Security in<br />
the <strong>for</strong>m <strong>of</strong> Demand Draft or through a Bank Guarantee or<br />
through an irrevocable Letter <strong>of</strong> Credit from any Indian scheduled<br />
bank or a branch <strong>of</strong> an International bank situated in India and<br />
registered with Reserve Bank <strong>of</strong> India as scheduled <strong>for</strong>eign<br />
bank. However, other than the Nationalised Indian Banks, the<br />
banks whose BGs are furnished, must be commercial banks<br />
having net worth in excess <strong>of</strong> Rs. 100 crores and a declaration<br />
to this effect should be made by such commercial bank either in<br />
the bank guarantee itself or separately on a letter head.<br />
The bank guarantee or the Letter <strong>of</strong> Credit shall be submitted in<br />
the prescribed <strong>for</strong>mat.<br />
24.3 If the CONTRACTOR/SUB-CONTRACTOR or their employees or<br />
the CONTRACTOR’s agents and representatives shall damage,<br />
break, deface or destroy any property belonging to the<br />
EMPLOYER or others during the execution <strong>of</strong> the CONTRACT,<br />
the same shall be made good by the CONTRACTOR at his own<br />
expenses and in default there<strong>of</strong>, the ENGINEER-IN-CHARGE<br />
may cause the same to be made good by other agencies and<br />
recover expenses from the CONTRACTOR (<strong>for</strong> which the<br />
certificate <strong>of</strong> the ENGINEER- IN-CHARGE shall be final).<br />
24.4 All compensation or other sums <strong>of</strong> money payable by the<br />
CONTRACTOR to the EMPLOYER under terms <strong>of</strong> this<br />
CONTRACT may be deducted from or paid by the encashment or<br />
sale <strong>of</strong> a sufficient part <strong>of</strong> his Contract Per<strong>for</strong>mance Security or<br />
from any sums which may be due or may become due to the<br />
CONTRACTOR by the EMPLOYER <strong>of</strong> any account whatsoever<br />
and in the event <strong>of</strong> his Contract Per<strong>for</strong>mance Security being<br />
reduced by reasons <strong>of</strong> any such deductions or sale <strong>of</strong> a<strong>for</strong>esaid,<br />
the CONTRACTOR shall within ten days thereafter make good in<br />
cash, bank drafts as a<strong>for</strong>esaid any sum or sums which may have<br />
been deducted from or realised by sale <strong>of</strong> his Contract<br />
Per<strong>for</strong>mance Security, or any part there<strong>of</strong>. No interest shall be<br />
payable by the EMPLOYER <strong>for</strong> sum deposited as Contract<br />
Per<strong>for</strong>mance Security.<br />
24.5 Failure <strong>of</strong> the successful bidder to comply with the requirements <strong>of</strong><br />
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