CHANGES IN A FIRM Clause Samples
CHANGES IN A FIRM i. Where the contractor is a partnership firm, a new partner shall not be introduced in the firm except with the previous consent in writing of the Chairperson on behalf of Authority which may be granted only upon acceptation of a written undertaking by the new partner to perform the contract of accept all liabilities incurred by the Firm under the contract prior to the date of such undertaking.
ii. On the death or retirement of any partner of the contractor firm before complete performance of the contract the Chairperson on behalf of Authority may, at his opinion cancel the contract and in such case the contractor shall have no claim whatsoever to compensation against the owner.
iii. If the contract is not determined as provided in sub-clause (ii) above notwithstanding the retirement of a partner from the firm, he shall continue to be liable under the contract for acts of the firm until a copy of the public notice given by him under section 32 of the Partnership Act has been sent by him to the owner by registered post acknowledgement due.
CHANGES IN A FIRM. Where the contractor is a partnership firm, a new partner shall not be introduced in the firm except with the previous consent in writing of the Chairperson on behalf of Authority which may be granted only upon acceptation of a written undertaking by the new partner to perform the contract of accept all liabilities incurred by the Firm under the contract prior to the date of such undertaking.
CHANGES IN A FIRM i. Where the bidder is a partnership firm, a new partner shall not be introduced in the firm except with the previous consent in writing of the Administrative Officer, which may be granted only upon acceptance of a written undertaking by the new partner to perform the contract and accept all liabilities incurred by the firm under the contract prior to the date of such undertaking.
ii. On the date or retirement of any partner of the bidder firm before complete performance of the contract the Administrative officer may, at his option cancel the contract and in such cases the bidder shall have no claim whatsoever to compensation against the purchaser.
iii. If the contract is not determined as provided in sub-clause (ii) above notwithstanding the retirement of a partner from the firm he shall continue to be liable under the contract for acts of the firm until a copy of the public notice given by him under Section 32 of the partnership Act has been sent by him to the Secretary by registered post acknowledgement due.