KIOCL Limited. - The Kudremukh Iron Ore Company Limited

GENERAL CONDITIONS OF CONTRACT1.00 DEFINITIONSA. As used in the Contract including all documents contained in or referenced by the Invitation to Bid, thefollowing terms shall have the meaning ascribed herein unless the context within which they are usedclearly precludes such meaning. Terms and Expressions not herein defined shall have the same meaningas one assigned to them in the Indian Contract Act (Act lR of 1872) and failing that in the General ClausesAct (1897) and subsequent amendments thereof.1. ACTUAL CONTRACT VALUE means the Final cost of the Work including the cost of Extra Work(s) oradjustments due to changes in works.2. APPROVAL of OWNER/ENGINEER shall mean the written approval by OWNER/ENGINEER of adocument or drawing or other particulars or matters in relation to the Contract.3. “BID” shall mean the offer tendered by BIDDER to the OWNER to do and perform all work and other thingsnecessary to complete the work required for the Project / Portion of the Project as described in the Biddocument.4. “BIDDER/TENDERER” shall mean the party submitting a bid for the work.5. “BID DOCUMENTS” shall mean a document prepared and issued to the Bidder by OWNER which willcontain, among other things a description of the Work to be performed, schedule of quantities and the timeschedule for completion of work.6. “CLEAR DAYS” shall mean consecutive days without interruption for week ends or holidays and shallinclude the day on which the notice/request is received.7. “CONSTRUCTION EQUIPMENT” shall mean all machinery, plant, apparatus, parts, appliances,instruments, articles and things required for erection, construction and completion of the work required forthe Project or any Portion thereof and the operation thereof, including supply of maintenance items, spareparts and consumables etc. required therefore.8. „CONTRACT‟ shall mean and include the Invitation to Bid, Instruction to Tenderers, Offer / bid(initial/modified), the General Conditions, the Specifications, Drawings, Special Conditions and Bulletins, ifany, and the Letter of Intent /Work Order/ Supply Order/the Agreement entered into by the parties includingmutually agreed subsequent amendments/ changes, if any.9. “CONTRACTOR” shall mean the Bidder whose Bid has been accepted and shall include his/ her/its/theirheirs, executors, administrators, legal representatives, successors and assigns.10. “CONTRACT DRAWINGS” shall mean and include the designs, blue prints or other documents of a similarnature which show or illustrate the character and nature of the work to be performed which are supplied byOwner enclosed with the Bid Document or available with the Owner for inspection by the Bidder orDrawings issued by the Owner during the execution of Contract.11. “CONTRACT VALUE” shall mean the amounts as stipulated in the Letter of Intent/Work Order / SupplyOrder/Agreement which amount represent the estimated total cost of the work to be performed byCONTRACTOR under the CONTRACT.12. “EFFECTIVE DATE OF THIS CONTRACT” shall mean the date of issue of Letter of Intent/ SupplyOrder/Work Order unless otherwise specified.13. “ENGINEER” shall mean person/persons nominated by or authorized by OWNER among other things toadminister the Contract and / or supervise the work under the Contract.14. “IN PLACE” shall mean the work or any items of Work being fully completed / installed and completelyincorporated as determined by ENGINEER/OWNER whose decision in this regard shall be final, bindingand conclusive on the Parties.38