Common use of Sanctions for Violations Clause in Contracts

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or any one employed by it or acting on its behalf (Whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, whenever 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 Deposit (in pre-contract stage) and / or Security Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefor. ON-SITE MAINTENANCE CONTRACT OF VIDEO CONFERENCING SYSTEMS AND PERIPHERALS AND FACILITY MANAGEMENT OF VC SETUP (iii) To immediately cancel the contract if already signed, without giving any compensation to the BIDDER. (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, 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 BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be 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.

Sanctions for Violations. 6.1 5.1. Any breach of the aforesaid provisions by the BIDDER or any one employed by it or acting on its behalf (Whether whether with or without the knowledge of the BIDDER) shall entitle of the BUYER to take all or any one of the following actions, whenever required:-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 Deposit (( in pre-contract stage) and / or and/or Security Deposit / Performance Bond (( after the contract is signed) shall stand forfeited either fully or partially partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefor. ON-SITE MAINTENANCE CONTRACT OF VIDEO CONFERENCING SYSTEMS AND PERIPHERALS AND FACILITY MANAGEMENT OF VC SETUPtherefore. (iii) To immediately cancel the contract contract, if already signed, without giving any compensation to the BIDDER. (ivi) To recover all sums already paid by the BUYER 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, 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 BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash en-cash the advance bank guarantee and performance bond / warranty bond, if furnished by the BIDDER, in order to recover the payments payments, already made by the BUYER, along with interest.

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or any one employed by it or acting on its behalf (Whether whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, whenever wherever required:- (i) i. To immediately call off the pre-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 Deposit (in pre-contract stage) and / or and/or Security Deposit / Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefortherefore. iii. ON-SITE MAINTENANCE CONTRACT OF VIDEO CONFERENCING SYSTEMS AND PERIPHERALS AND FACILITY MANAGEMENT OF VC SETUP (iii) To immediately cancel the contract contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER 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, 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 BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) . v. To encash the advance bank guarantee and performance bond / bond/warranty bond, if furnished by the BIDDER, in order to recover the payments payments, already made by the BUYER, along with interest.