Common use of FINANCIAL COVERAGE Clause in Contracts

FINANCIAL COVERAGE. a. For road dispatches, advance payment as required shall be drawn in favor of Corporation by the Purchaser by means of DD and payable on any scheduled bank acceptable to the Corporation at Bihar, alternatively the same can be deposited through RTGS in the specified bank account of the Corporation. b. The Corporation by way of a notice, to be put up on the Corporation’s notice board and website, shall inform the Purchaser the Coal value to be paid through DD / RTGS. The Purchaser shall accordingly be required to deposit the amount through DD / RTGS within 3 days of publication of notice. The quantity in any single offer within a month shall not exceed the quantity as per financial coverage in terms of Clause 11. c. Monthly bills shall be prepared by the Corporation on the basis of quantity delivered at colliery.

FINANCIAL COVERAGE. a. For road dispatches, advance payment as required shall be drawn in favor of Corporation by the Purchaser by means of DD and payable on any scheduled bank acceptable to the Corporation at Bihar, alternatively the same can be deposited through RTGS in the specified bank account of the Corporation. b. The Corporation by way of a notice, to be put up on the Corporation’s notice board and website, shall inform the Purchaser the Coal value to be paid through DD / RTGS. The Purchaser shall accordingly be required to deposit the amount through DD / RTGS within 3 days of publication publish of notice. The quantity in any single offer within a month shall not exceed the quantity as per financial coverage in terms of Clause 11. c. Monthly bills shall be prepared by the Corporation on the basis of quantity delivered at colliery.