Hiring of VPN Services for GAIL Agartala
Hiring of VPN Services for GAIL Agartala
Hiring of VPN Services for GAIL Agartala
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Guarantee or through an irrevocable Letter <strong>of</strong> Credit from any<br />
Indian scheduled bank or a branch <strong>of</strong> an International bank<br />
situated in India and registered with Reserve Bank <strong>of</strong> India as<br />
scheduled <strong>for</strong>eign bank. However, other than the Nationalised<br />
Indian Banks, the banks whose BGs are furnished, must be<br />
commercial banks having net worth in excess <strong>of</strong> Rs. 100<br />
crores and a declaration to this effect should be made by such<br />
commercial bank either in the bank guarantee itself or<br />
separately on a letter head.<br />
The bank guarantee or the Letter <strong>of</strong> Credit shall be<br />
submitted in the prescribed <strong>for</strong>mat.<br />
24.3 If the CONTRACTOR/SUB-CONTRACTOR or their<br />
employees or the CONTRACTOR’s agents and<br />
representatives shall damage, break, deface or destroy any<br />
property belonging to the EMPLOYER or others during the<br />
execution <strong>of</strong> the CONTRACT, the same shall be made good<br />
by the CONTRACTOR at his own expenses and in default<br />
there<strong>of</strong>, the ENGINEER-IN-CHARGE may cause the same<br />
to be made good by other agencies and recover expenses<br />
from the CONTRACTOR (<strong>for</strong> which the certificate <strong>of</strong> the<br />
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<br />
encashment or sale <strong>of</strong> a sufficient part <strong>of</strong> his Contract<br />
Per<strong>for</strong>mance Security or from any sums which may be due<br />
or may become due to the CONTRACTOR by the<br />
EMPLOYER <strong>of</strong> any account whatsoever and in the event <strong>of</strong><br />
his Contract Per<strong>for</strong>mance Security being reduced by reasons<br />
<strong>of</strong> any such deductions or sale <strong>of</strong> a<strong>for</strong>esaid, the<br />
CONTRACTOR shall within ten days thereafter make good<br />
in cash, bank drafts as a<strong>for</strong>esaid any sum or sums which may<br />
have 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<br />
be payable by the EMPLOYER <strong>for</strong> sum deposited as<br />
Contract Per<strong>for</strong>mance Security.<br />
24.5 Failure <strong>of</strong> the successful bidder to comply with the<br />
requirements <strong>of</strong> this Clause shall constitute sufficient<br />
grounds <strong>for</strong> the annulment <strong>of</strong> the award and the <strong>for</strong>feiture <strong>of</strong><br />
bid security.<br />
25 Time <strong>of</strong> Per<strong>for</strong>mance: 25.1 Time <strong>for</strong> Mobilisation<br />
The work covered by this CONTRACT shall be commenced<br />
within fifteen (15) days, the date <strong>of</strong> letter/Fax <strong>of</strong> Intent and<br />
be completed in stages on or be<strong>for</strong>e the dates as mentioned in<br />
the TIME SCHEDULE OF COMPLETION OF WORK.<br />
The CONTRACTOR should bear in mind that time is the<br />
essence <strong>of</strong> this agreement. Request <strong>for</strong> revision <strong>of</strong><br />
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