Terms of Payment. 19.1 For supply of Stores, Purchaser's normal terms of payment shall be ninety five (95%) percent of the Contract value, and hundred (100%) percent of the Sales Tax, duties on delivery of the Stores at the Project Site/Consignee Stores as indicated in the Contract. The Stores shall be despatched only after the Inspector has issued a Shipping Release [acceptance as stipulated in 2.14 (a) ] on satisfactory completion of inspection. Balance five (5%) percent of the Contract value shall be paid as per clause No. 19.1.2. The details are as under: 19.1.1 Ninety five (95%) percent payment of the Contract value including taxes, duties and levies in full shall be released on receipt of the following documents as applicable: 19.1.1.1 Invoice in triplicate 19.1.1.2 Proof of Receipt by the Consignee in the form of Receipted LR or Receipted Delivery Challan in original. 19.1.1.3 Shipping release in original issued by the Inspector signed in ink and with Inspector's seal or with NPCIL Logo [Refer 2.14 (a)]. 19.1.1.4 Proof of payment of Excise duty as per prevailing instructions issued by the Excise Authorities. 19.1.1.5 Statement endorsed on Shipping Release by the Inspector for having received one set of Test Certificates. 19.1.1.6 Certificate towards Excise Duty (where claimed separately) and Sales Tax as per Appendix A & B. 19.1.2 Balance five (5%) percent of the Contract value shall be released on acceptance of the Stores at Site [Refer 2.14 (b)] after inspection and issue of Site Stores Inspection Report / Receipt voucher by the consignee. Normally seventy five (75) days will be allowed for inspection and acceptance after receipt of the Stores. The Contractor shall submit the following documents as applicable: 19.1.2.1 Invoice in triplicate 19.1.2.2 Free issue material account accepted by the Purchaser's Engineer. This shall be based on the approved cutting diagram or other approval by the Purchaser's Engineer (where applicable). 19.1.2.3 Receipted delivery challan for return of balance and scrap material to Purchaser's Stores (where applicable). 19.2 For Supply of plant/equipments/machinery/instruments including erection and commissioning. Purchaser’s normal terms of payment shall be ninety five (95%) percent of the Contract value for supply on delivery at Project Site/Consignee as indicated in the Contract. The Stores shall be despatched only after Inspector has issued a Shipping Release on satisfactory completion of inspection [Refer 2.14 (a)] and as further det...
Terms of Payment. GCC Clause Reference Clause Description /Content Special Conditions GCC Cl. No. 19 Terms of Payment” 100% payment shall be released within 30 days after receipt, inspection & final acceptance of the materials at Kaiga Site 6.0 The following Special Conditions of Contract (SCC) shall supplement / amend General Conditions of Contract (GCC). Wherever there is a conflict between the two, the provisions in SCC shall prevail over those in the GCC. GCC Clause Reference Clause Description /Content Special Conditions GCC Cl. No. 22.1 Right of Recourse under Civil Liability for Nuclear Damages Act 2010 & Rule 2011 thereof Since requirement is for PHWR, NPCIL is the system designer and technology owner, being responsible for safety design of such installations in the this tender, NPCIL shall assume the role of Supplier in accordance with the explanation of term “Supplier” given in Rule 24 of the CLND Rules, 2011 and in the context of section 17(a) and (b) of the CLND Act, 2010. 7.0 GCC Clause Reference Clause Description /Content Special Conditions GCC Cl. No. 16 QUALITY SURVEILLANCE, INSPECTION, ACCEPTANCE AND REJECTION NOT APPLICABLE 8.0
Terms of Payment a) Payment for the works to be executed under this contract shall be made on a monthly basis on receipt of bill from the contractor. The amount payable will be net of any recoveries for deficiency in services, imposed as per the provisions of this contract. The bill should be submitted as per GST format. Copy of following documents for a particular month duly certified by the firm to be submitted along with bill for payment: i. Certified copy of attendance register. ii. Report of work done signed by the assistant caretaker / caretaker / assistant manager / security officer iii. Bank statement showing payment of minimum wages (payment to labour / workmen shall be paid directly to their bank account). iv. Declaration for compliance of Contract labour Act & Minimum wages Act. v. Documentary evidence indicating the payment made towards PF/ESI, if applicable. vi. Any other logbooks/ document as directed by Protocol & Security Dept. b) It may be noted that the contractor will first make the payment of wages to the labourers/ workers and then submit the Bill for reimbursement of the same along with the proof of remittance of wages to the workers. No advance payment will be made to the contractor under any circumstances. c) No variation in the above terms of payment will be acceptable to the Reserve Bank of India. 23.
Terms of Payment i. The contractor should ensure that minimum wages, as prescribed in Central / State Government, whichever is higher, as per notifications, issued from time to time, shall be paid to the workmen / staff deployed by her / him / them, in the Bank’s premises, and the same shall be credited, directly to their respective Bank accounts. The Bank reserves, the right to verify the same, as and when, warranted and accordingly, the contractor, shall produce relevant documents to the Bank of demand. The contractor shall, ensure payment of subscriptions towards, EPF, ESI etc, for the women / staff deployed, in the Bank’s premises or any other statutory payments. ii. Bank's reserves the right to verify, at any time, the deployment of w or k m en / s ta ff. Hence an attendance register, for the workmen / staff deployed shall be, maintained, for verification and copies of the same, duly certified by the officials, authorised by the Bank, shall be submitted, to the Bank, along with the contractor’s bills. iii. Payments against, the contractor’s bills, based on actual quantity of work executed, will be paid through RTGS / NEFT, within the period for payment, stipulated herein, from the date of submission of the bill along with all required documents, such as acknowledgement from occupants of flats / department representative, countersigned by the official authorised by the Bank, copy of relevant pages of attendance register etc. Wages shall be paid to the workmen / employees, by the contractor, without waiting for the payment from the Bank. In case of non-execution / non-completion of pest services in certain areas of office / residential premises / flats, the payment will be made based on actual / proportionate area / number of flats / areas in for which the treatment was, actually carried out, by verifying the acknowledgements, obtained from the representatives of various departments /authorised officials of the Bank or residents of flats. 40.
Terms of Payment. 7.4.1. The standard payment terms of SIDBI are given below: 1. Payment of recurring charges will be paid quarterly in arrears in equal installments. 2. Payment of first installment will be released only after submission of Performance Bank Guarantee and finalization of contract document. In case of delay in commencing services, payment will be made on pro-rata basis for the services delivered after deducting applicable LD, if any. 3. The LD towards default in any quarter will be deducted in subsequent quarter and for the last quarter of the contract, LD would be deducted from the amount payable for the last quarter. 4. The bidder before raising invoice has to collect the LD statement of previous quarter from the Bank and raise invoice for the quarter along with credit note for LD for previous quarter. The net of same will be released. 5. Payment for subsequent quarters will be made only after the payments of previous quarters have been released. 7.4.2. All the payments will be made by SIDBI electronically through RTGS/ NEFT. Hence, Bidder to submit Bank Mandate Form (as per Annexure –VIII) along with cancelled cheque in original with Minimum Eligibility bid. 7.4.3. Bidder will be required to furnish the documentary proof as specified above while claiming the appropriate payment. 7.4.4. TDS, if any, will be deducted while releasing the payment. 7.4.5. All Payments will be made to the Bidder in Indian Rupee only. 7.4.6. All payments will be released within 4 weeks of receiving the undisputed invoice along with credit note/inovice, if applicable. In case of LD to be charged to bidder, bank will intimate the amount of LD and bidder has to raise credit note/invoice. The amount payable would be net of debit and credit note / invoice. 7.4.7. Payment in case of Termination of contract – In case the contract is terminated payment will be made on pro rata basis for the period services have been delivered, after deducting applicable LD, TDS and adjusting other pending charges, if any. 7.4.8. The Bank shall have the right to withhold any payment due to the Bidder, in case of delays or defaults on the part of the Bidder. Such withholding of payment shall not amount to a default on the part of the Bank. 7.4.9. The Bidder must accept the payment terms proposed by the Bank. The financial bid submitted by the Bidder must be in conformity with the payment terms proposed by the Bank. Any deviation from the proposed payment terms would not be accept 7.5.