CHARGES. 2.1 The charges payable by Bank to THE COMPANY for the repair and maintenance services described herein are arrived at after selection of L-1 vendor and L-1 rates after the tender process and/or as indicated in Annexure attached and unless provided for elsewhere herein, no additional charges shall be claimed by THE COMPANY. 2.2 THE COMPANY shall submit to the Bank their invoice(s) for payments due in accordance with this AGREEMENT and Stipulations & TCC mentioned in the bid document. The terms of such invoice(s) are that they shall be payable as indicated in the Annexure. 2.3 The AMC charges will be released on quarterly/HY basis, subject to the vendor submitting to our office, `Satisfactory Service Reports’ from all the user branches/departments and as per the TCC and no advance payment shall be made by the Bank. 2.4 The Bank may decide to add or remove certain UPS or peripherals from the AMC at any point of time during the contract. Payment for any inclusion / deletion of Ups, and other peripherals during the AMC period will be calculated on pro-rata basis for period is under AMC. 2.4 All of the prices, terms, warranties and benefits granted by THE COMPANY herein are comparable to or better than the equivalent terms being offered by THE COMPANY to any of its present customers. If THE COMPANY shall, during the term of this Agreement, enter into arrangements with any of its other customers providing greater benefits or more favorable terms, this Agreement shall thereupon be deemed to be amended to provide the same to Bank as such terms were incorporated herein and are applicable hereto. 3.
