Common use of Risk& Cost Purchase Clause in Contracts

Risk& Cost Purchase. In case, the Contractor/s, shall at any time during the continuance of these presents fail to supply satisfactorily, the articles/ equipment within the prescribed time as herein provided or in case, shall fail at once to replace any articles that may have been rejected as herein provided with other, of approved quality ,the Xxxx (G&K),GSMC& KEMH-Department of Clinical Pharmacology and DJST shall be at liberty forthwith to procure the same in the open market at the risk and cost of the contractor/s. Similarly, if the work underlying the contract is not executed satisfactorily within the stipulated period or after the same having been disapproved wholly or partly is not rectified or re-done to the satisfaction of the Officer in Charge within the said specified period, the Xxxx (G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST shall get the same executed or rectified or re-done through any other agencies, at the entire risk of the contractor/s as to cost and consequences. The Xxxx (G&K), GSMC& KEMH-Department of Clinical Pharmacology and DJST may, however fix such other subsequent date as he may think fit by which the delivery of the said article and or execution of the said work shall be completed.