Common use of RECOVERY CLAUSE Clause in Contracts

RECOVERY CLAUSE. (i) In case of any damage of equipment/machinery due to negligence of contractor or any other reasons attributed to contractor the decision of Engineer-in-charge regarding the amount of recovery shall be final and binding subject to a maximum of 10% of contract value. Recovery will be affected from the monthly bills and/or retention money/security deposit.

RECOVERY CLAUSE. (i) In case of any damage of equipment/machinery due to negligence of contractor or any other reasons attributed to contractor the decision of EngineerExecutive-in-charge incharge regarding the amount of recovery shall be final and binding subject to a maximum of 10% of contract value. Recovery will be affected from the monthly bills and/or retention money/security deposit.

RECOVERY CLAUSE. (i) In case of any damage of equipment/machinery due to negligence of contractor agency or any other reasons attributed to contractor agency the decision of Engineer-in-charge regarding the amount of recovery shall be final and binding subject to a maximum of 10% of contract value. Recovery will be affected from the monthly bills and/or retention money/security deposit.