Common use of Fall Clause Clause in Contracts

Fall Clause. 8.1 The BIDDER undertakes that it has not supplied/ is not supplying similar product/ systems or subsystems at a price lower than that offered in the present bid in respect of any other Tender notified by Ministry/Department of the Government of India or PSU or a Public Sector Bank and if it is found at any stage that similar product/systems or sub systems was supplied by the BIDDER to any other Ministry/Department of Government of India or a PSU or a Public Sector Bank at a lower price, then that very price, with due allowance for elapsed time, will be applicable to the present case and the difference in cost would be refunded by the BIDDER to the BUYER, if the contract has already been concluded.

Fall Clause. 8.1 The BIDDER undertakes that it has not supplied/ is not supplying similar product/ systems or subsystems subsystems/ services at a price lower than that offered in the present bid in respect of any other Tender notified by Ministry/Ministry/ Department of the Government of India or PSU or a Public Sector Bank and if it is found at any stage that similar product/product/ systems or sub systems systems/ services was supplied by the BIDDER to any other Ministry/Ministry/ Department of the Government of India or a PSU or a Public Sector Bank at a lower priceprice within a period of one year before and after bid submission date, then that very price, with due allowance for elapsed time, will be applicable to the present case and the difference in the cost would be refunded by the BIDDER to the BUYER, if the contract has already been concluded.