TENDER FOR - Ceylon Petroleum Corporation

1.21. Labour, Property and Equipment Compensation
1.21.1. CPC is not responsible for labour compensation on any damage. CPC is
expecting from each supplier, all the labours to be insured and Workman
compensation policy document which is issued by government recognized
insurances firm to be submitted before awarding the contract.
1.21.2. The successful bidder will have to pay CPC, as liquidated damages, for
failure to comply with contractor’s obligation to provide the service in the
time guaranteed and amount for each calendar day at the rate of 1% per day
for total payment due. However the maximum liability of the contractor will
not exceed 10% of the total payment.
1.21.3. Additional services that have not been covered in this invitation to bid shall
be clearly stated for CPC’s consideration.
1.22. Defaulted Contractors
1.22.1. Bid offers will not be entertained from firm or persons who have been placed
on the list of defaulted contractors of the CPC.
2. CONDITIONS OF CONTRACT (COC)
2.1. Performance Guarantee
2.1.1. The successful Bidder, on being notified by CPC of the acceptance of his Bid,
shall furnish at his own expense a Performance Guarantee, within (07days)
of such notification through/ confirmed by a recognized Bank in Sri Lanka,
in a sum equivalent to 10% of the accepted Bid. The Performance Guarantee
shall be substantially in the format given in Appendix III
2.1.2. If the successful bidder, fails to furnish the Performance Guarantee as
aforesaid, his name will be placed in the list of defaulting Contractors. CPC
shall therefore, be entitled in its absolute discretion to make suitable
arrangements required for the performance of such Bid, as the case may be,
at the risk and expense of the successful bidder.
2.1.3. The successful bidder, in the event of his failure to furnish the Performance
Guarantee as required, shall be liable for any losses, cost, expenses and
damages, which the CPC may sustain in consequence of such failure, and
the Bid Security Guarantee shall be forfeited.
2.1.4. The Performance Guarantee shall be in favor of the CPC, and shall be valid
for a period not less than 42 days from the works order Issued
2.2. Mode of payment
2.2.1. No advance payment will be made on this contract
2.2.2. Progress/part payments will be paid on the basis of 75% of the value of work
completed. The balance 25% will be retained until the successful
completion of the work.
2.2.3. Part Payment will be made only after finishing first half of the job and
after finishing the second half.
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