CORRIGENDUM - Tender

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(9 ) 25. IFCAL must ensure that the total amount payable for the HCFC lifted by any buyer, should under no circumstances exceed the tentative amount paid by him in advance. 26. As soon as the entire quantity of HCFC sold to the customers has been lifted and taken out of the factory premises, M/s. IFCAL shall do the billing. They shall also refund the balance amount due to that customer. This balance amount shall not be retained as advance for adjustment in future. 27. In the event of successful bidders failing to make the payments as above within the stipulated period, the management of IDCOL shall be released of obligations to sell HCFC to that customer under these terms & conditions, unless on the written request the stipulated dates for payments have been extended by the management of IDCOL. It shall mean that the allotted quantity of HCFC can be sold to others as deemed fit by the management. The management of IDCOL, may not allow such defaulters to participate in the bids in future and also retains the right to deduct from their payment or other dues, if any, the loss suffered in selling the HCFC in question to some other customers. 28. No interest will be payable either on advance payments or on any retained amount. 29. M/s. IDCOL (or M/s. IFCAL) shall not bear the transit risk. The risk of IFCAL ceases, when the material has been loaded on the trucks and the trucks leave the factory premises. 30. M/s. IDCOL (or M/s. IFCAL) shall not entertain any objection to the quality of the HCFC once the truck loaded with material leaves the factory premises. 31. All the Demand Drafts submitted for payment shall be endorsed on the back with the <strong>Tender</strong> Call Notice number and the name of the payer to avoid any mix-up. 32. All the refunds shall be made by Demand Drafts drawn in favour of the beneficiaries after deducting the bank commission paid for obtaining the D.D. and the postal/courier charges. 33. It shall be the responsibility of bidders to satisfy themselves that they have the necessary licenses and permissions required under the Law, Rules & Regulations applicable for purchasing, transportation and for end-using of HCFC in question. The management of M/s. IDCOL (or IFCAL) shall not be responsible, if they suffer any loss or damage for any violation in the process of purchasing, transporting and end-using the HCFC.
( 10) 34. Authorized representative of the purchaser will be allowed to be present at the time of weighment and loading of HCFC in to trucks. 35. Arbitration : That in case of disputes between the parties, the matter shall be referred to the arbitration of Chairman-cum-Managing Director of the Industrial Development Corporation of Orissa Limited, IDCOL House, Ashok Nagar, Bhubaneswar or to an arbitrator nominated by the Chairman-cum- Managing Director of the I.D.C. of Orissa Limited in case the said Chairmancum-Managing Director for any reason is not in a position to arbitrate. The award of the arbitrator shall be final, binding and conclusive. That, in all cases the arbitration proceedings shall be conducted at Bhubaneswar or in the Factory Site at Jajpur Road and at no other place. That, all legal proceedings in any manner arising out of or in relation to the contract between the parties can only be initiated in a court of law situated within the territorial jurisdiction of the State of Orissa and none of the parties shall have the liberty of initiating any legal proceedings any where beyond the territorial limits of the State of Orissa. 36. Force Majeure : This order is subject to force Majeure clauses and the performance of the contract either wholly or in part will be governed by the stand and force majeure clauses. Any failure of the contract due to strike, cyclones etc. and all other causes beyond the control of the Company, IDCOL / IFCAL shall not be responsible for the same in any manner whatsoever. 37. No verbal agreement or inference from conversation with any officer or employee of M/s. IFCAL or M/s. IDCOL either before, during or after the advertisement for sale shall in any way alter or modify the terms and conditions prescribed herein. 38. The management of IDCOL reserves the right to cancel the tender, reject any or all the bids at any stage without assigning any reason. No damage or compensation shall be payable to any bidder for the alleged loss suffered by them due to such rejection / cancellation. 39. Management of IDCOL reserves the right to distribute the tendered quantities amongst all qualified bidders including H1 bidder. Sd/- CHAIRMAN-CUM-MANAGING DIRECTOR
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CORRIGENDUM - Tender

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