Common use of of ITB Clause in Contracts

of ITB. The Bidder shall indicate the value of the order executed by him together with the details of name of the party, order value, scope of work / component breakup, completion period stipulated in the order and actual completion period. The completion certificate, awarded by the client on its letter head should have a mention of start date, date of completion and value of the work executed by the Bidder. The Bidder can provide the details of the works that have been substantially completed. “Substantially Completed Works” shall be based on completion of 80% or more works that have been financially completed under the claimed relevant component of the contract. Substantial completion of works shall be supported by client certificates with the name of the work including component breakup of relevant work to the extent of similar work, work order value, start date, percentage of similar work completed till date of issue of the Tender in financial terms (Net Payment received against the Contract) as indicated in Form 4B. In case the work was performed by the Bidder in a JV, the same shall be supported by a Client Certificate enumerating the claimant share also. In case the work was performed by the bidder as a sub-contractor, the bidder shall submit similar completion certificate awarded to it by the main contractor and countersigned by the Employer / Client of the main contractor.