Common use of Standing Committee for Settlement of Disputes Clause in Contracts

Standing Committee for Settlement of Disputes. If a question, difference or objection arises in connection with or out of the contract/ agreement or the meaning of operation of any part, thereof or the rights, duties or liabilities of either party have not been settled by mutual discussions or the decision of tender sanctioning Procurement Committee, it shall be referred to the empowered standing committee for decision, if the amount of the claim is more than Rs. 50,000/-. The empowered standing committee shall consist of following members: - (RISL) • Chairman of BoD of RISL : Chairman • Secretary, DoIT&C or his nominee, not below the rank of Deputy Secretary : Member • Managing Director, RISL : Member • Director (Technical)/ Executive Director, RISL : Member • Director (Finance), RISL : Member • A Legal Expert to be nominated by the Chairman : Member

Standing Committee for Settlement of Disputes. If a question, difference or objection arises in connection with or out of the contract/ agreement or the meaning of operation of any part, thereof or the rights, duties or liabilities of either party have not been settled by mutual discussions or the decision of tender sanctioning Procurement Committee, it shall be referred to the empowered standing committee for decision, if the amount of the claim is more than Rs. 50,000/-. The empowered standing committee shall consist of following members: - (RISL) • Chairman of BoD of RISL : Chairman • Secretary, DoIT&C or his nominee, not below the rank of Deputy Secretary : Member • Managing Director, RISL : Member • Director (Technical)/ Executive Director, RISL : Member • Director (Finance), RISL : Member • A Legal Expert to be nominated by the Chairman : MemberMember RISL Rate Contract for Security Audit of Website(s) / Web Application(s) / portal(s)