bangladesh power development board tender document for ... - BPDB

32.0 RIGHT OF BOARD TO TERMINATE CONTRACTIf the Work to be done under this Contract shall be abandoned by the Contractor,or if his Contract shall be assigned by him otherwise than as herein provided, or ifthe Contractor would be adjudged bankrupt, or if a general assignment of hisassets be made for the benefit of his creditors, or if a receiver should be appointedfor the Contractor or any of his property, or if at any time the Engineer shall certifyin writing to the Board that the performance of the Work under this Contract isbeing unnecessarily delayed, or that the Contractor is violating any of theconditions or covenants of this Contract or the Specifications therefore, or that he isexecuting the same in bad faith or otherwise not in accordance with the terms ofsaid Contract, or if the Work be not substantially completed within the time namedfor its completion or within the time to which such completion date may beextended, then the Board may serve written notice upon the Contractor and hissurety, of said Board's intention to terminate this Contract and, unless within thirty(30) days after the serving of such notice upon the Contractor, a satisfactoryarrangement is made for the continuance thereof, this Contract shall cease andterminate. In the event of such termination, the Board shall immediately servenotice thereof upon the surety and the Contractor, and the surety shall have theright to take over and complete the Work through employment of Contractorapproved by the Board, such approval not to be unreasonably withheld, provided,however, that if the surety does not commence performance thereof within sixty(60) days from the date of said notice of termination the Board may take over theWork and prosecute same to completion, by Contract or otherwise, for the accountand at the expense of the Contractor, and the Contractor and his surety shall beliable to the Board for any and all excess cost sustained by the Board by reason ofsuch prosecution and completion, and in such event the Board may take possessionof, and utilise in completing the Work, all such materials, equipment, tools, andplant as may be on the Site of the Work and necessary therefore.32.01 TERMINATION FOR CONVENIENCEThe Board reserves the right to terminate the Contract, in whole or in part, for itsconvenience. If the Contract is so terminated, an equitable downward adjustmentwill be made in the Contract Price resulting in a revised price that compensates theContractor fairly under all the circumstances for the Work performed under theContract, but shall not include any compensation for unearned profit. The revisedprice shall be based on Contractor's cost and disbursements reasonably incurredand attributable to the Contract Work, as certified by Contractor and reviewed forsubstantiation by the Engineer, plus a reasonable profit thereon.If the Board shall fail to comply with performance or deadline requirementsimposed on him by the provisions of the Contract, time being of the essence, theContractor may, by written notice to the Board, advise the Board that it deems theBoard's failure to evidence an election on the part of the Board to terminate theContract for its convenience under this Clause and the Contract, on the giving ofsuch notice by Contractor shall be deemed terminated.33.0 REJECTIONIf at any time before the Work is taken over by the Engineer, the Engineer81