Common use of For Others Clause in Contracts

For Others. 5% of the contract value in the form of Bank Guarantee plus 6% of the running bills for a maximum of 5% of the contract value is deducted towards performance guarantee. If the contractor submits 10% value of the contract in the form of PBG, deduction of 6% as retention from the running bills is exempted. i) Definition of Local Equipment Manufacturing Unit: As per the Policy of Govt. of Andhra Pradesh. j) Permanent Performance Bank Guarantee (PPBG) for a value of Rs.20 Crore for the existing / ongoing works for the contractor who Comes forward with acceptance. k) Exemptions will be given in case of Payment of performance security Based on the recommendation made by the SPC for special cases.