Common use of Settlement of Bills Clause in Contracts

Settlement of Bills. The Bank will fix the lowest rate (i.e. per square feet per month) on the basis of competitive bidding and enter into service agreement with the lowest vendor and release monthly payment to the vendor after completion of Housekeeping and Facility Management Services work satisfactorily based on rates quoted for each of the year separately at the time of tender for 152228.45 Sq. ft. of the building. The rate quoted per square feet per month is inclusive of all the types of services and their frequencies(i.e. irrespective of types of services and their frequencies which may be daily/monthly/Quarterly/etc.). No separate payment will be made for any type of the services and frequencies indicated in scope of work ie. Carpet Cleaning, Window glass cleaning, cleaning of driveway and parking outside the premises, etc. Successful Bidder has take into account of all these services while quoting his rates per sq. ft./per month for 152228.45 square feet of Built Up area considered for the purpose of billing, which shall also include all statutory taxes, minimum wages (as per Central Labour Wages Act), transportation, insurance, cleaning material, profit & overheads, etc. The Successful Bidder shall submit the bills for every month separately. The payments shall be made, subject to production of copies of PF, ESIC, Service tax paid challans for processing the bill of next month, within 10 days from the date of submission of the bills, subject to the bill being in order. While making such payment the Bank shall make the following deductions. i) Income-tax or any other tax deduction at source as per the Government rules. ii) The amount equivalent to any damages/loss etc. caused to the Bank by the workmen/employees of the Successful Bidder. iii) Any other charges, penalties and other deduction etc indicated in scope of work. iv) The Bank reserves right to correct arithmetical errors or other errors in the matter in which the Bank consider suitable and deem fit. This adjustment shall be acceptable to and binding upon the Successful Bidder.

Settlement of Bills. The Bank will fix the lowest rate (i.e. per square feet per month) on the basis of competitive bidding and enter into service agreement with the lowest vendor and release monthly payment to the vendor after completion of Housekeeping and Facility Management Services work satisfactorily based on rates quoted for each of the year separately at the time of tender for 152228.45 1,52,507.45 Sq. ft. of the building. The rate quoted per square feet per month is inclusive of all the types of services and their frequencies(i.e. irrespective of types of services and their frequencies which may be daily/monthly/Quarterly/etc.). No separate payment will be made for any type of the services and frequencies indicated in scope of work ie. Carpet Cleaning, Window glass cleaning, cleaning of driveway and parking outside the premises, etc. Successful Bidder has take into account of all these services while quoting his rates per sq. ft./per month for 152228.45 1,52,507.45 square feet of Built Up area considered for the purpose of billing, which shall also include all statutory taxes, minimum wages (as per Central Labour Wages Act), transportation, insurance, cleaning material, profit & overheads, etc. The Successful Bidder shall submit the bills for every month separately. The payments shall be made, subject to production of copies of PF, ESIC, Service tax paid challans for processing the bill of next month, within 10 days from the date of submission of the bills, subject to the bill being in order. While making such payment the Bank shall make the following deductions. i) Income-tax or any other tax deduction at source as per the Government rules. ii) The amount equivalent to any damages/loss etc. caused to the Bank by the workmen/employees of the Successful Bidder. iii) Any other charges, penalties and other deduction etc indicated in scope of work. iv) The Bank reserves right to correct arithmetical errors or other errors in the matter in which the Bank consider suitable and deem fit. This adjustment shall be acceptable to and binding upon the Successful Bidder.