IDCOL FERRO CHROME & ALLOYS LIMITED - orissatenders.in ...

727) The purchaser is not bound to accept the lowest price offered.28) All transit risk shall be the responsibility of the supplier and to their account.29) Failure to supply the order quantity within the stipulated period as per theintimated delivery schedule may lead to forfeiture of the Security Deposit andblacklisting of the supplier.30) All clarification sought from the tenderer/supplier on technical specificationsof the products or otherwise shall be promptly submitted in a transparent andunambiguous manner.31) Terms & conditions of this tender document cannot be changed without priorapproval of M.D, IFCAL.32) Entire tender document duly filled in shall be treated as part of the contractagreement for supplies in case of the successful tenderer.33) In case of disputes between the parties, the matter shall be referred toarbitration by the Chairman of Idcol Ferro Chrome & Alloys Ltd, IDCOLHOUSE, P.B No:78, Ashok Nagar, Bhubaneswar or to an arbitratornominated by the said Chairman. In case the said Chairman for any reason isnot in a position to arbitrate the award of the arbitrator shall be final, bindingand conclusive.In case for any reason the arbitration is not possible in accordance with theaforesaid clause, the matter shall not be referred to arbitration at all.Then, in all cases, the arbitration proceedings shall be conducted atBhubaneswar or at the factory site at Jajpur Road and at no other place.34) All legal proceedings in any manner arising out of or in relation to thecontract between the parties can only be initiated in a Court situated withinthe territorial Jurisdiction of the State of Odisha and none of the parties shallhave the liberty of initiating any legal proceeding any where beyond theterritorial limits of the state of Odisha.Signature & Seal of Tenderer