Common use of of NIT Clause in Contracts

of NIT. Each non-substantial partner should have a minimum of 20% participation in the JV/Consortium. Partners having less than 26% participation will be termed as non- substantial partner and will not be considered for evaluation which means that their financial soundness and work experience shall not be considered for evaluation of JV/Consortium. In the tender of Civil work, a Joint Venture/ Consortium to qualify, each of its non-substantial partner must have experience of executing at least one Civil work of minimum value of Rs.

of NIT. Each non-substantial partner should have a minimum of 20% participation in the JV/Consortium. Partners having less than 26% participation will be termed as non- substantial partner and will not be considered for evaluation which means that their financial soundness and work experience shall not be considered for evaluation of JV/Consortium. In the tender of Civil work, a Joint Venture/ Consortium to qualify, each of its non-substantial partner must have experience of executing at least one Civil work of minimum value of Rs₹30.67 lakhs or more in last 05 years.