Common use of Clause 6 Clause in Contracts

Clause 6. Contract agreement The contractor shall, when called upon so to do by the Engineer-in-charge enter into and execute a contract agreement in the form annexed. Clause 7: Performance security In every case where performance security has been provided, as specified in item (h) of Memorandum of Work, contractor shall furnish/maintain the performance security for the extended period of completion under Clause 37 of the Agreement. All compensations or the sums of money payable by the contractor under the terms of this contract may be deducted from or paid by the sale of sufficient part of his performance security, and in the event of his performance security reduced by reason of any such deduction or sale as aforesaid the contractor shall within ten days thereafter make good in cash or other securities as aforesaid any sum or sums which may have been deducted from, or raised by sale of performance security or any part thereof. The performance security deposit / additional performance security deposit lodged by a contractor (in cash or/other form) shall be refunded to him after the expiry of three months after the issue of the certificate of completion of the work under Clause 40 hereof by the Engineer-in-charge or along with the final bill if it is prepared after that period on account of some unavoidable circumstances. Clause 8: