BHARAT PETROLEUM CORPORATION LIMITED PRESS TENDER

CRFQ No. 1000182234ANNEXURE VITERMS & CONDITIONS OF AGREEMENTtenderer including the right for recovery of damages if any from thesuccessful tenderer, and in the event of the Corporation so terminatingthe contract, the Corporation shall not be liable to pay any compensationor damages in consequence of such termination to the successfultenderer.(g) SC Valve units are supposed to have a good track record and clearcredential in the past. If any unit is found indulging in any unauthorisedactivities at any time, even in the past, then the Corporation shall have theliberty to take appropriate action as deemed fit including rejection,termination immediately on receipt of such information.Upon receipt of the said cancellation notice, the successful tenderer shalldiscontinue all work on the purchase order matters connected with it and shallsurrender incomplete SC Valves to the authorities designated by theCorporation. BPCL in that event will be entitled to procure the requirement inthe open market and recover excess payment over the successful tenderer'sagreed price if any, from the successful tenderer and also reserving to itselfthe right to forfeit the Supply and Performance Guarantee amount, made bythe successful tenderer against the contract. The successful tenderer is awarethat the said goods are required by BPCL for the ultimate purpose of materialsproduction and that non-delivery may cause loss of production andconsequently loss of profit to the BPCL. In this event of BPCL exercising theoption to claim damages for non-delivery other than by way of differencebetween the market price and the contract price, the successful tenderer shallpay to BPCL, fair compensation to be agreed upon between BPCL and thesuccessful tenderer. The provision of this clause shall not prejudice the rightof BPCL from invoking the provisions of price reduction clause mentionedabove.23. ASSIGNMENT/SUB-CONTRACTINGThe successful tenderer shall not sublet the contract or assign any part of theorder to any person/firm/company without prior written consent from theCorporation.24. ACQUIESCENCE OR WAIVERFailure of the Corporation to insist upon any of the terms or conditionsincorporated in the Purchase Order or failure or delay to exercise any rights orremedies herein, or by law or failure to properly notify successful tenderer inthe event of breach, or the acceptance of or payment of any goods hereunderor approval of design shall not release the successful tenderer and shall notbe deemed a waiver of any right of the Corporation to insist upon the strictperformance thereof or of any of its or their rights or remedies as to any suchgoods regardless of when such goods are shipped, received or accepted norshall any purported oral modification or revision of the order by BPCL act aswaiver of the terms hereof. Any waiver to be effective must be in writing.Page 17 of 19