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2. The General Bid format and Price Bid format submitted ... - Tender

2. The General Bid format and Price Bid format submitted ... - Tender

2. The General Bid format and Price Bid format submitted ... - Tender

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( 12 )Bhubaneswar or to an arbitrator nominated by the Chairman-cum-ManagingDirector of the I.D.C. of Orissa Limited in case the said Chairman-cum-ManagingDirector for any reason is not in a position to arbitrate. <strong>The</strong> award of the arbitratorshall be final, binding <strong>and</strong> conclusive.That, in all cases the arbitration proceedings shall be conducted atBhubaneswar or in the Factory Site at Barbil <strong>and</strong> at no other place.That, all legal proceedings in any manner arising out of or in relation to thecontract between the parties can only be initiated in a court of law situated withinthe territorial jurisdiction of the State of Orissa <strong>and</strong> none of the parties shall havethe liberty of initiating any legal proceedings any where beyond the territorial limitsof the State of Orissa.47. Force Majeure : This order is subject to force Majeure clauses <strong>and</strong> theperformance of the contract either wholly or in part will be governed by the st<strong>and</strong><strong>and</strong> force majeure clauses. Any failure of the contract due to strike, cyclones etc.<strong>and</strong> all other causes beyond the control of the Company, IDCOL / IKIWL shall notbe responsible for the same in any manner whatsoever.48. <strong>The</strong> management reserves the right to accept / reject / cancel any or all the bidsat any stage without assigning any reason. No damage or compensation shall bepayable to any bidder for the alleged loss suffered by them due to suchrejection.Sd/-HEAD (COMMERCE )

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