Mobilisation Advance. The Authority shall, on request of the Concessionaire, made at any time after the Appointed Date, and upon the Concessionaire furnishing a Bank Guarantee in a form satisfactory to the Authority, make an advance payment in a sum not exceeding 10 % (ten per cent) of the Project Cost (the “Mobilisation Advance”). The Mobilisation Advance shall be paid by the Authority within 30 (thirty) days of receipt of a request in this behalf from the Concessionaire. The rate of interest on the Mobilisation Advance shall be equal to the Bank Rate, compounded annually. The Mobilisation Advance shall be deducted by the Authority in 4 (four) equal instalments from each of the payments to be made by the Authority to the Concessionaire in accordance with the provisions of Clause 23.4 and the interest thereon shall be recovered as the 5th (fifth) and final instalment upon expiry of 120 (one hundred and twenty) days commencing from the date of recovery of the 4th (fourth) instalment.
Mobilisation Advance. Mobilisation advance shall be generally 5% of original contract value payable in two equal instalments or as mentioned in the Special Conditions of Contract and shall be payable in one or two equal instalments as specified in Special Conditions of Contract. The first instalment shall be paid after mobilisation has started and next instalment shall be paid after satisfactory utilization of earlier instalment. Advance against Plant and Machinery
Mobilisation Advance. No mobilisation advance for the Project under this Agreement shall be provided to the Mine Operator.
Mobilisation Advance. (This clause is applicable only if specifically mentioned in the tender)
Mobilisation Advance.
27.1 [Mobilisation Advance]26
27.1.1 [The Mine Operator may require the Authority to provide a mobilisation advance by way of loan (the "Mobilisation Advance") which shall carry interest at the Prime Lending Rate of State Bank of India from time to time.]
27.1.2 [The Mobilisation Advance shall be equal to [10% (ten per cent)] of the Total Project Cost and shall be disbursed in 2 (two) equal installments upon the Mine Operator furnishing a bank guarantee of an amount equal to 135% (One hundred and thirty five percent) of such advance in the form specified at Schedule-F. The 1st (first) installment shall be disbursed by the Authority to the Mine Operator upon demand at any time after the Appointed Date and prior to [****] provided that the Mine Operator shall have funded and expended at least 25% (twenty five per cent) of the Total Project Cost in the Equity. The 2nd (second) installment shall be disbursed upon demand at any time after [****] days from the disbursement of 1st (first) instalment of the Mobilisation Advance, provided that the Mine Operator has funded and expended at least 50% (Fifty per cent) of the Total Project Cost in the Equity.]
27.1.3 [The Mobilisation Advance shall be recovered with interest in such instalments and in such amounts as determined by the Authority by making a deduction from the Mining Charge, as and when due and payable. Provided that, the Mobilisation Advance shall be recovered with interest over a period of not more than 5 (five) consecutive Accounting Years from COD and each instalment for recovery of Mobilisation Advance shall be equal to or less than 10% (ten per cent) of the Mining Charge, then payable.] 26 To be retained in cases where a mobilization advance is being provided by the Authority. The provisions of this Article 27 may be modified on a case to case basis.
Mobilisation Advance. On written application from the Contractor, the Bank may grant mobilization advance up to 10% of the amount of accepted tender. The mobilization advance will be released against production of Bank Guaran- tee for like amount. The advance shall be released after Contractor satisfies Architect/Consultant with production of documentary evidence that this amount of Mobilization Advance shall be used for procurement of material/equipment/labour for the work. The advance shall attract simple interest at the rate of(15%) per annum. The advance shall be secured by a Bank Guarantee from a Scheduled Bank (other than the Bank) for the amount of mobilization Advance plus interest at the rate of per annum (in approved proforma ),which will be recovered in the manner described hereinafter.
Mobilisation Advance. Mobilisation advance for the Mine Operator has not been considered for this Project under the Agreement.
Mobilisation Advance. 11.2.1 Mobilisation Advance shall be generally 5% of original contract value payable in two equal installments or as mentioned in the Special Conditions of Contract. The first installment shall be paid after mobilisation has started and next installment shall be paid after satisfactory utilization of earlier installment. Advance against Plant and Machinery
11.2.2 Plant and machinery advance shall generally be 5% of original contract value or as specified in Special Conditions of Contract.
a. New Items : 80% of purchase price
b. Used items in working order : 80% of the depreciated value as assessed by the Engineer
c. Items valued at less than Rs.25,000 per unit : Not to be considered The total advance for Plant & Machinery shall be limited to 5%. This shall also be an interest free advance.
11.2.3 Advances as admissible, shall be payable only on Contractor’s written request to the Employer.
Mobilisation Advance. (This clause is applicable only if specifically mentioned in the tender)
a) Interest bearing Mobilisation Advance will be payable to the contractor for works having value more than ₹5.00 Crores to a maximum amount of 10% of the contract value in two or more instalments depending on the progressing of work and mobilisation of equipment required.
b) Simple interest will be recovered for the outstanding amount @ SBI base rate +1% per annum.
c) Mobilisation Advance will be payable against unconditional Bank Guarantee from a Nationalised/ Schedule Bank from India for a value of 110% of the advance as per the approved format. Multiple Bank Guarantees also will be acceptable towards advance. This shall be kept renewed time to time to cover the balance amount and likely period to complete recovery together with interest.
d) Satisfactory utilization certificate shall be furnished by the contractor for releasing the second instalment.
e) The advance along with interest will be recovered from each running account bill on prorate basis till recovery of the entire amount. The entire amount together with interest shall be recovered by the time 80% of the work is completed.
f) In case of termination of contract, the entire value will be recovered at a stretch or the bank guarantee will be encashed by CSL to realize the amount. (This is applicable only if specifically mentioned in the tender). If after submission of the tender, the base price of materials specified in the tender increases/ decreases, the difference in base price along with applicable taxes and CP will be adjusted based on actual purchase invoice subject to any such variations shall be effected only for stipulated period of Contract including the justified period extended. If after submission of tender, the price of any item increases as a result of coming in to force any fresh law, statutory rule or order and/or prevailing at the time of receipt of tenders the amount of contract shall accordingly be varied. (This is applicable only if specifically mentioned in the tender). If the price of materials and /or wages of labour required for the execution of work increases/decreases it shall be compensated as per the method detailed subject to the condition that such compensation for escalation shall be available only for the work done during the stipulated period including the justified period extended. Provided always that
Mobilisation Advance. This shall be limited to 10% of the Contract value and shall be paid in 2 stages : Stage 1– 5% of Contract Value on signing of the contract agreement. Stage 2 – 5% on mobilization of site-establishment, setting up offices, bringing in equipment and actual commencement of work. The stage 1 of advance shall be payable immediately after signing of contract agreement. The stage 2 of advance shall be payable at the time of mobilisation, only after submission of an utilization certificate by the contractor that the Stage 1 advance has been properly utilized in the contract. These Advances shall be payable against irrevocable guarantee (Bank Guarantee, FDRs) from a scheduled commercial bank of India of at least 110% of the value of the sanctioned advance amount (covering principal plus interest).
