Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue. (ii) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer. (iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer from the Bidder in connection with any other contract for such any other outstanding payment could also be utilized/ adjusted to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest. (vi) To cancel all or any other Contracts with the Bidder. (vii) To debar the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended at the discretion of the Buyer. (viii) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract. (ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant. (x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder. (xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened. 10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the Monitor.
Appears in 4 contracts
Samples: Integrity Pact, Integrity Pact, Integrity Pact
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(iib) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforethere for.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vif) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s 's firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘`close relative’ ' for this purpose would mean spouse whether residing with the Government servant Principal/Xxxxx's employee/employees or not, but not include a spouse separated from the Government servant Principal/Buyer's employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Xxxxx's employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Buyer's employee/employees or of whose custody the Government servant Principal/Xxxxx's employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Xxxxx's employee/employees or to the Government servant’s Principal/Xxxxx's employee/employees wife or husband and wholly dependant dependent upon Government servantPrincipal/Xxxxx's employee/employees.
(xj) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 (2) The decision of the Principal/Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the same Bidder can approach the monitor(sMonitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 2 contracts
Samples: Integrity Pact, Integrity Pact
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder BIDDER or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall BIDDER)shall entitle the Buyer BUYER to take all or any one of the following actionsaction, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the BidderBIDDER. However, the proceedings with the other Bidder(sBIDDER(s) would continue.
(ii) The Xxxxxxx Money/Money (in pre – contract stage and /or/ Security Depositdeposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the Buyer BUYER and the Buyer BUYER shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, signed without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the BuyerBIDDER.
(iv) To recover all sums already paid by the BuyerBUYER, and in case of an Indian Bidder BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder BIDDER from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due by the BUYER to the Buyer from the Bidder BIDDER in connection with any other contract for such any other stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BidderBIDDER, in order to recover the payments, already made by the BuyerBUYER, along with interest.,
(vi) To cancel all or any other Contracts with the BidderBIDDER.The BIDDER shall be liable to pay compensation for any loss or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money due to the BIDDER.
(vii) To debar the Bidder BIDDER from entering into any bid from participating in future bidding process of the Government of India for a minimum period of five Five years, which may be further extended at the discretion of the BuyerBUYER.
(viii) To recover all sums paid in violation of this Pact pact by Xxxxxx(sthe BIDDER(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer BUYER with the BidderBIDDER, the same shall not be opened.
10.2 The (x) Forfeiture of Performance Bond in case of a decision of by the Buyer BUYER to forfeit the effect that a breach of the provisions same without assigning any reason for imposing sanction for violation of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 6.1 Any breach of the aforesaid provisions by the Bidder BIDDER/SELLER or any one employed by him it or acting on his its behalf (whether with or without the knowledge of the BidderBIDDER/SELLER) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer BUYER to take all or any one anyone of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the BidderBIDDER / SELLER. However, the proceedings with the other Bidder(sBIDDER(s) / SELLER(s) would continue.
(ii) The Xxxxxxx Money/Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the Buyer BUYER and the Buyer BUYER shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the BuyerBIDDER/SELLER.
(iv) To recover all sums already paid by the Buyer, BUYER and in case of an Indian Bidder BIDDER/SELLER with interest thereon at 2% higher than the prevailing Prime Lending RateRate of State Bank of India, while in case of a Bidder BIDDER/SELLER from a country other than India with interest thereon at 2% higher than the LIBORL1BOR. If any outstanding payment is due to the Buyer BIDDER/SELLER from the Bidder BUYER in connection with any other contract for such any other stores, such outstanding payment could also a/so be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BidderBIDDER/SELLER, in order to recover the payments, already made by the BuyerBUYER, along with interest.
(vi) To cancel all or any other Contracts with the Bidder.BIDDER/SELLER. The BIDDER/SELLER shall be liable to pay compensation for any loss or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due the BIDDER/SELLER
(vii) To debar the Bidder BIDDER/SELLER from entering into any bid from participating in future bidding processes of the Government of India or the BUYER for a minimum period of five years, which may be further extended at the discretion of the BuyerBUYER.
(viii) To recover all sums paid in violation of this Pact by Xxxxxx(sBIDDER/SELLER(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer BUYER with the BidderBIDDER/SELLER, the same shall not be opened.
10.2 (x) Forfeiture of Performance Bond in case a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.
6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1
(i) to (x) of this Pact also on the Commission by the BIDDER/SELLER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption.
6.3 The decision of the Buyer BUYER to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder BIDDER/SELLER shall be final and binding conclusive on the Bidder, howeverBIDDER/SELLER. However, the Bidder BIDDER/SELLER can approach the Independent external monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Procurement of Bidding Documents
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India (or Base Rate of State Bank of India in the absence of Prime Lending Rate, while ) and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/performance-cum-warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(vi) To cancel all or any other Contracts with the Bidder.
(vii) To debar ban the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended years and not more than ten years at the discretion of the Buyer.
(viii) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s Bidder firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘„close relative’ for relative r this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife servant or husband and wholly dependant dependent upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or our without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 Xxx 0000 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(iib) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforethere for.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vif) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant Principal/Buyer’s employee/employees or not, but not include a spouse separated from the Government servant Principal/Buyer’s employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Xxxxx’s employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Buyer’s employee/employees or of whose custody the Government servant Principal/Xxxxx’s employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Xxxxx’s employee/employees or to the Government servantPrincipal/Xxxxx’s employee/employees wife or husband and wholly dependant dependent upon Government servantPrincipal/Xxxxx’s employee/employees.
(xj) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 (2) The decision of the Principal/Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the same Bidder can approach the monitor(sMonitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Non Disclosure Agreement (Nda)
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India (or Base Rate of State Bank of India in the absence of Prime Lending Rate, while ) and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/performance-cum-warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with alongwith interest.
(vi) To cancel all or any other Contracts with the Bidder.
(vii) To debar ban the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended years and not more than ten years at the discretion of the Buyer.
(viii) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the Monitor.
Appears in 1 contract
Samples: Pre Contract Integrity Pact
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(iI) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with proceedingswith the other Bidder(s) would continue.
(iiII) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not shallnot be required to assign any reason therefore.
(iiiIII) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivIV) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India (or Base Rate of State Bank of India in the absence of Prime Lending Rate, while ) and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(vV) To encash the advance bank guarantee and performance bond/performance-cum-warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(viVI) To cancel all or any other Contracts with the Bidder.
(viiVII) To debar ban the Bidder from entering into any bid from the Government of India for Indiafor a minimum period of five years, which may be further extended years and not more than ten years at the discretion of the Buyer.
(viiiVIII) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixIX) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the disclosethe interest involved shall entitle the Buyer to rescind the contract without payment withoutpayment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the withthe Government servant or not, but not include a spouse separated from the Government servant by a bya decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant dependent upon Government servant.
(xX) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xiXI) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Sanctions for Violation. 10.1 1.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sbidder(s) would continue.
(ii) The Xxxxxxx Money/Money / Security Deposit/Deposit / Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/warranty bond, bond if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(vi) To cancel all or any other Contracts with the Bidder.
(vii) To debar the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended at the discretion of the Buyer.
(viii) To recover all sums paid in violation of this the Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(xi) The Bidder bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xiii) In cases case where irrevocable Letters letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 1.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the Monitorpact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer from the Bidder in connection with any other contract for such any other stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(vi) To cancel all or any other Contracts with the Bidder.
(vii) To debar the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended at the discretion of the Buyer.
(viii) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(ii. b) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforethere for.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash en-cash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vi. f) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant Principal/Buyer’s employee/employees or not, but not include a spouse separated from the Government servant Principal/Buyer’s employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Xxxxx’s employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Buyer’s employee/employees or of whose custody the Government servant Principal/Xxxxx’s employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Xxxxx’s employee/employees or to the Government servantPrincipal/Xxxxx’s employee/employees wife or husband and wholly dependant dependent upon Government servant.
(xPrincipal/Xxxxx’s employee/employees. j) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 (2) The decision of the Principal/Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the same Bidder can approach the monitor(sMonitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) required:- • To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) The Xxxxxxx Money/. • Performance Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) . • To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) • To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding out-standing payment is due to the Buyer from the Bidder in connection with any other contract for such any other stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
. • To encase the performance security (v) To encash the advance DD/bank guarantee and performance bond/warranty bondguarantee), if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(vi) . • To cancel all or any other Contracts with the Bidder.
(vii) . • To debar the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended at the discretion of the Buyer.
(viii) . • To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ix) . • If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the Monitor.
Appears in 1 contract
Samples: Pre Contract Integrity Pact
Sanctions for Violation. 10.1 9.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his the behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act enacted for the prevention of corruption shall entitle the Buyer Principal to take all or any one of the following actionsaction, wherever required:-required:
(i) i. To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder and to impound any xxxxxxx money deposit, if made by the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) . The Xxxxxxx Money/Money / Security Deposit/Performance Bond Deposit shall stand forfeited either fully or partially, as decided by the Buyer Principal and the Buyer Principal shall not be required to assign any reason therefore.
(iii) . To immediately cancel the contract, if already signed, signed without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) . To recover all sums already paid by the BuyerPrincipal, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due by the Principal to the Buyer from the Bidder in connection with any other contract for such any other stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) v. To encash the advance any bank guarantee and performance bond/warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the BuyerPrincipal, along with interest.
(vi) . To cancel all or any other Contracts with the Bidder.
(vii) . To debar the Bidder from entering into any bid from the Government of India Principal for a minimum period of five years, which may be further extended at the discretion of the Buyer.
(viii) . To recover all sums paid in violation of this Pact pact by Xxxxxx(sthe Bidder(s) to any middleman or agent or broker with a view to securing the contract.
(ix) . If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyerprincipal, or alternatively, if any close relative of an officer of the Buyer Principal has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer Principal to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) x. The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BuyerPrincipal, and if he does so, the Buyer Principal shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer principal resulting from such rescission and the Buyer Principal shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer Principal with the Bidder, the same shall not be opened.
10.2 9.2 The decision of the Buyer Principal or his nominee to the effect that a the Bidder has committed breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, however the Bidder can approach the monitor(smonitor (s) appointed for the purposes purpose of this Pact for redressal as per Clause 11 of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact agreement.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 Xxx 0000 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer from the Bidder in connection with any other contract for such any other stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(vi) To cancel all or any other Contracts with the Bidder.
(vii) To debar the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended at the discretion of the Buyer.
(viii) To recover all sums paid in violation of this Pact by Xxxxxx(sBidder(s) to any middleman or agent or broker with a view to securing the contract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(iib) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforethere for.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vif) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant Principal/Xxxxx’s employee/employees or not, but not include a spouse separated from the Government servant Principal/Buyer’s employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Xxxxx’s employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Xxxxx’s employee/employees or of whose custody the Government servant Principal/Xxxxx’s employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Buyer’s employee/employees or to the Government servantPrincipal/Buyer’s employee/employees wife or husband and wholly dependant dependent upon Government servantPrincipal/Xxxxx’s employee/employees.
(xj) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 (2) The decision of the Principal/Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the same Bidder can approach the monitor(sMonitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(iib) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforethere for.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vif) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant Principal/Buyer’s employee/employees or not, but not include a spouse separated from the Government servant Principal/Buyer’s employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Xxxxx’s employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Buyer’s employee/employees or of whose custody the Government servant Principal/Xxxxx’s employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Xxxxx’s employee/employees or to the Government servantPrincipal/Xxxxx’s employee/employees wife or husband and wholly dependant upon Government servantPrincipal/Xxxxx’s employee/employees.
(xj) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 (2) The decision of the Principal/Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the same Bidder can approach the monitor(sMonitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Integrity Pact
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or our without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 Xxx 0000 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(iib) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforetherefor.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vif) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant Principal/Buyer’s employee/employees or not, but not include a spouse separated from the Government servant Principal/Buyer’s employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Xxxxx’s employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Buyer’s employee/employees or of whose custody the Government servant Principal/Xxxxx’s employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Xxxxx’s employee/employees or to the Government servantPrincipal/Xxxxx’s employee/employees wife or husband and wholly dependant dependent upon Government servantPrincipal/Xxxxx’s employee/employees.
(xj) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 (2) The decision of the Principal/Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the same Bidder can approach the monitor(sMonitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Service Level Agreement (Sla)
Sanctions for Violation. 10.1 Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 Code,1860 or the Prevention of Corruption Act 1988 Xxx 0000 or any other act enacted for the prevention of corruption shall entitle the Buyer to take all or any one of the following actions, wherever required:-
(i) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(s) would continue.
(ii) The Xxxxxxx Money/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer and the Buyer shall not be required to assign any reason therefore.
(iii) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(iv) To recover all sums already paid by the Buyer, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending Rate, while in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer from the Bidder in connection with any other contract for such any other stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Buyer, along with interest.
(vi) To cancel all or any other Contracts with the Bidder.
(vii) To debar the Bidder from entering into any bid from the Government of India for a minimum period of five years, which may be further extended at the discretion of the Buyer.
(viii) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contractTorecoverallsumspaidinviolationofthisPactbyBidder(s)toanymiddlemanoragentorbroker withaviewtosecuringthecontract.
(ix) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant’s wife or husband and wholly dependant dependent upon Government servant.
(x) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Buyer, and if he does so, the Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Buyer resulting from such rescission and the Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the MonitorPact.
Appears in 1 contract
Samples: Tender Agreement
Sanctions for Violation. 10.1 (1) Any breach of the aforesaid provisions by the Bidder or any one employed by him or acting on his behalf (whether with or our without the knowledge of the Bidder) or the commission of any offence by the Bidder or any one employed by him or acting on his behalf, as defined in Chapter IX of the Indian Penal Code, 1860 or the Prevention of Corruption Act 1988 or any other act Act enacted for the prevention of corruption shall entitle the Principal/Buyer to take all or any one of the following actions, wherever required:-required –
(ia) To immediately call off the pre-contract negotiations without assigning any reason or giving any compensation to the Bidder. However, the proceedings with the other Bidder(sBidder (s) would continue.
(iib) The Xxxxxxx MoneyMoney Deposit/Security Deposit/Performance Bond shall stand forfeited either fully or partially, as decided by the Buyer Principal/Buyer, and the Principal/Buyer shall not be required to assign any reason thereforethere for.
(iiic) To immediately cancel the contract, if already signed, without giving any compensation to the Bidder. In such situation, the xxxxxxx money / security deposit / performance bond shall also be forfeited by the Buyer.
(ivd) To recover all sums already paid by the BuyerPrincipal/Xxxxx, and in case of an Indian Bidder with interest thereon at 2% higher than the prevailing Prime Lending RateBase Rate of SBI, while and in case of a Bidder from a country other than India with interest thereon at 2% higher than the LIBOR. If any outstanding payment is due to the Buyer Bidder from the Bidder Buyer in connection with any other contract for such any other Defence stores, such outstanding payment could also be utilized/ adjusted utilized to recover the aforesaid sum and interest.
(ve) To encash the advance bank guarantee Bank Guarantee and performance bondPerformance Bond/warranty Warranty bond, if furnished by the Bidder, in order to recover the payments, already made by the Principal/Buyer, along with interest.
(vif) To cancel all or any other Contracts contracts with the Bidder.
(viig) To debar the Bidder from entering into any bid from the Government of India Principal/Buyer for a minimum period of five years, which may be further extended at the discretion of the Principal/Buyer.
(viiih) To recover all sums paid in violation of this Pact by Xxxxxx(s) to any middleman or agent or broker with a view to securing the contract.
(ixi) If the Bidder or any employee of the Bidder or any person acting on behalf of the Bidder, either directly or indirectly, is closely related to any of the officers of the Buyer, or alternatively, if any close relative of an officer of the Buyer has financial interest/stake in the Bidder’s firm, the same shall be disclosed by the Bidder at the time of filing of tender. Any failure to disclose the interest involved shall entitle the Buyer to rescind the contract without payment of any compensation to the Bidder. The term ‘close relative’ for this purpose would mean spouse whether residing with the Government servant Principal/Xxxxx’s employee/employees or not, but not include a spouse separated from the Government servant Principal/Xxxxx’s employee/employees by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servantPrincipal/Buyer’s employee/employees, but does not include a child or step child who is no longer in any way dependent upon the Government servant Principal/Buyer’s employee/employees or of whose custody the Government servant Principal/Xxxxx’s employee/employees has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant Principal/Xxxxx’s employee/employees or to the Government servantPrincipal/Xxxxx’s employee/employees wife or husband and wholly dependant dependent upon Government servantPrincipal/Xxxxx’s employee/employees.
(xj) The Bidder shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the Principal/Buyer, and if he does so, the Principal/Buyer shall be entitled forthwith to rescind the contract and all other contracts with the Bidder. The Bidder shall be liable to pay compensation for any loss or damage to the Principal/Buyer resulting from such rescission and the Principal/Buyer shall be entitled to deduct the amount so payable from the money(s) due to the Bidder.
(xik) In cases where irrevocable Irrevocable Letters of Credit have been received in respect of any contract signed by the Principal/Buyer with the Bidder, the same shall not be opened.
10.2 The decision of the Buyer to the effect that a breach of the provisions of this Integrity Pact has been committed by the Bidder shall be final and binding on the Bidder, however, the Bidder can approach the monitor(s) appointed for the purposes of this Pact for redressal of his grievances. No appeal shall lie in any court of law against the decision of the Monitor.
Appears in 1 contract
Samples: Addendum Service Level Agreement