Common use of BID AMOUNT Clause in Contracts

BID AMOUNT. 3.1.1 To facilitate the smooth completion of the project within a specified period of time, OWNERS have provided a completion period of years as starting from the effective date till date subject to the fulfillment of following conditions by the DEVELOPER: (a) Completion of the EWS AND LIG MULTI STOREY FLATS within a period of per DPR. 3.1.2 In case DEVELOPER fails to fulfill any of the conditions mentioned here-in-above in Clause No. 3.1 then the DEVELOPER will not be entitled for any payment from escrow account. In that event DEVELOPER will be liable to make the payment of bid amount from the effective date & RHB shall be at the liberty to complete the project on the cost and risk of developer.

BID AMOUNT. 3.1.1 To facilitate the smooth completion of the project within a specified period of time, OWNERS have provided a completion period of years as starting from the effective date till date subject to the fulfillment of following conditions by the DEVELOPER: (a) Completion of the EWS AND LIG MULTI STOREY FLATS within a period of as per DPR. 3.1.2 In case DEVELOPER fails to fulfill any of the conditions mentioned here-in-above in Clause No. 3.1 then the DEVELOPER will not be entitled for any payment from escrow account. In that event DEVELOPER will be liable to make the payment of bid amount from the effective date & RHB shall be at the liberty to complete the project on the cost and risk of developer.