DNIT forFurnishing of squash court at CDLU Sirsa - Chaudhary Devi ...

For all works, 10%
security shall be
deducted from
running bills subject
to a maximum 5% of
the agreement
amount
Compensation for
delay.
CLAUSE-1
CHAPTER - 7
CLAUSES OF CONTRACT
The person/ persons whose tender may be accepted (hereinafter called the
contractor) shall permit University at the time of making any payment to
him for work done under the contract to deduct such sun as will (with the
earnest money deposited by him) amount to 10% from running bills
subject to a maximum 5% of the agreement amount after affording credit
for the initial (Earnest money). One-half of the security deposit will be
refunded on completion of the work as certified by the Engineer-incharge
with respect to satisfactory removal of all defects, imperfections,
short comings and taking remedial measures, that may be necessary and
after recording of final measurements of work done, for which the
certificate of the Engineer-in-charge would be conclusive and if the final
bill is in plus and the other half will be released on the immediate expiry
of defect liability period of 12 months from the date of completion of
work and after removal of all defects, imperfections and shortcomings
that may be noticed during this period, to the entire satisfaction of the
Engineer-in-charge Such deductions shall be held by University by way
of security deposit. All compensation or other sums of money payable
by the contractor to the University under the terms of this contract may
be deducted from the security deposit account or from any sums which
may be due or may become due to the contractor by University on any
account whatsoever. In the event of his security deposit being reduced by
reason of any such deduction, the contractor shall within ten days
thereafter make good in cash any sum or sums which may have been
deducted from his security deposit.
CLAUSE- 2
The time allowed for carrying out the work as entered in the tender shall
be strictly observed by the contractor and shall be reckoned from the date
of issue of the allotment letter. The work shall throughout the stipulated
period of the contract be proceeded with all due diligence (time deemed to
be the essence of the contract on the part of the Contractor) and the contractor
shall pay as compensation an amount equal to one percent, which
the Executive Engineer may levy, on the amount of the estimated cost of
the whole work as shown in the tender for every day the work remains
incomplete or unfinished after the proper dates. And further to ensure
good progress during the execution of the work, the contractor shall be
bound in the case in which the time allowed for any work exceed one
month to complete, one-fourth of whole of the work before one-fourth of
the whole time allowed under the contract has elapsed: one-half of the
work before one half at such time has elapsed, three-fourths of the work
before three-fourths of such time has elapsed. In the event of the
contractor failing to comply with this condition he shall be liable to pay as
compensation an amount equal to one percent, which the Engineer-in-
22 Contractor