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The payment of advance is normally discouraged. The advance payment, in exceptional cases,
may be given to the extent of 10% of total ordered value against submission of a Bank Guarantee
of equivalent amount (on account of advance) and the same should have sufficient validity
covering the full delivery period / full completion period and final payment thereof. Rate of
interest of advance should be package specific and commensurate with the market rate.
PAYMENT THROUGH RTGS/NEFT
All payments to the vendors will be released through RTGS/EFT only.
Vendors are requested to submit the requisite details as per Annexure E.
The contractor/vendor shall furnish the following certificate to the Paying Authority along with
each invoice/bill against payment for supplies made against any supply order/RC with longer
completion period (more than a year), if the same is placed on firm price basis. ‘I / we certify that
there has been no reduction in the sale price of the stores of description identical to this item,
supplied to any person/organization and such stores have not been offered/sold by me/us to any
person/organization at a price lower than the price charged under this contract upto the date of
this bill.’
20. ADDITIONS / ALTERATIONS / MODIFICATIONS :
The Owner reserves the right to make additions/reduction/ alterations/ modifications to the
quantity of the items in the Purchase Order. The Vendor shall supply such quantities also at the
same rate as originally agreed to and incorporated in the Purchase Order. If, however, the
additional supply is at variance with design, size and specifications and not already covered by
the Purchase Order or the amendments therein, the rates for such additional supply shall be
negotiated and mutually agreed upon.
21. DELIVERY SCHEDULE / COMPLETION PERIOD :
Time is the essence of this contract and normally no variation shall be permitted in the
completion time/delivery schedule mentioned in the Order/contract unless an amendment in this
regard is issued by DVC. Time extension may be issued on specific request/reason provided such
request is communicated to the Order Issuing Authority before the expiry of the stipulated
delivery schedule/completion period. Date of delivery of materials/goods is to be reckoned as the
date of receipt of same by the consignee.
22. LIQUIDATED DAMAGES FOR DELAY IN DELIVERY /COMPLETION OF
WORKS:
22.1 The time remains the essence of any contract/ purchase order awarded by DVC and all
supply under a Purchase Order/all deliverables under a Work Order needs to be completed within
the stipulated time schedule.
The Contractor shall commence work on the Facilities from the date of Notification of Award.
The Contractor shall thereafter proceed with the Facilities in accordance with the time schedule
specified in Time Schedule to the Contract Agreement.
Therefore, the provision has been kept in the contract that in case of delay in completion/delivery,
for the reasons attributable to the contractor/ vendor, owner reserves the right to recover from the
W& P Manual – 2012 Page 160