Disputed Xxxx. In the event of a dispute as to the amount of any Tariff Invoice, APDCL shall notify the Power Producer of the amount in dispute and APDCL shall pay the Power Producer 100% of the undisputed amount within the due date provided either party shall have the right to approach the AERC to effect a higher or lesser payment on the disputed amount. The Parties shall discuss within a week from the date on which APDCL notifies the Power Producer of the amount in dispute and try and settle the dispute amicably. Where any dispute arising out of or in connection with this agreement is not resolved mutually then such dispute shall be submitted to adjudication by the AERC under Section 79 or 86 of Electricity Xxx 0000 and the AERC may refer the matter to Arbitration as provided in the said provision read with Section 158 of Electricity Xxx 0000. For dispute beyond the power conferred upon the AERC, such dispute shall be subject to jurisdiction of High Court at Guwahati. If the dispute is not settled during such discussion, then the payment made by APDCL shall be considered as a payment under protest. Upon resolution of the dispute, in case the Power Producer is subsequently found to have overcharged, then it shall return the overcharged amount with an interest of SBI 1-year Marginal Cost of Funds Based Lending Rate (MCLR) per annum plus 1.25% for the period it retained the additional amount. APDCL / Power Producer shall not have the right to challenge any Tariff Invoice, or to bring any court or administrative action of any kind questioning/modifying a Tariff Invoice after a period of three years from the date of the Tariff Invoice is due and payable.
Appears in 5 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
