Submission of invoice, adjustment and certification. 27.3.1 The Concessionaire shall at least 30 days prior to the relevant Annuity Payment Date submit to the Independent Engineer, its invoice, addressed to the Authority for payment of Annuity for the applicable Annuity Payment Period. 27.3.2 The Independent Engineer shall verify the invoices and duly adjust the same for any bonus or reduction in Annuity in accordance with Article 28 of this Agreement and should be submitted with necessary documentation in this regard. 27.3.3 The Independent Engineer shall after verification and certification of the amount claimed in the invoice alongwith adjustments, forward the invoice to Authority with necessary documentation recommending payment in full or part thereof so as to reach Authority atleast 15 days prior to the relevant Annuity Payment Date. 27.3.4 Upon receipt of the invoice together with recommendation for payment forwarded by the Independent Engineer, Authority shall take all necessary steps and ensure payment of Annuity on the relevant Annuity Payment Date. The mode of payment of Annuity shall be as provided in Clause 27.4. 27.3.5 For avoidance of doubt, the Parties agree that notwithstanding any dispute which either of them may have as to the amount of invoice/Annuity certified and recommended for payment by the Independent Engineer, the Annuity payable on the relevant Annuity Payment Date shall be that certified by the Independent Engineer. Provided such payment shall be without prejudice to a final adjustment according to the terms on which such dispute is resolved whether amicably or through arbitration in accordance with the provisions of Article 44.
Appears in 1 contract
Samples: Concession Agreement
Submission of invoice, adjustment and certification. 27.3.1 The Concessionaire shall at least 30 days prior to the relevant Annuity Payment Date submit to the Independent Engineer, its invoice, addressed to the Authority for payment of Annuity for the applicable Annuity Payment Period.
27.3.2 The Independent Engineer shall verify the invoices and duly adjust the same for any bonus or reduction in Annuity in accordance with Article 28 of this Agreement and should be submitted with necessary documentation in this regard.
27.3.3 The Independent Engineer shall after verification and certification of the amount claimed in the invoice alongwith along with adjustments, forward the invoice to Authority with necessary documentation recommending payment in full or part thereof so as to reach Authority atleast at least 15 days prior to the relevant Annuity Payment Date.
27.3.4 Upon receipt of the invoice together with recommendation for payment forwarded by the Independent Engineer, Authority shall take all necessary steps and ensure payment of Annuity on the relevant Annuity Payment Date. The mode of payment of Annuity shall be as provided in Clause 27.425.4.
27.3.5 For avoidance of doubt, the Parties agree that notwithstanding any dispute which either of them may have as to the amount of invoice/Annuity certified and recommended for payment by the Independent Engineer, the Annuity payable on the relevant Annuity Payment Date shall be that certified by the Independent Engineer. Provided such payment shall be without prejudice to a final adjustment according to the terms on which such dispute is resolved whether amicably or through arbitration in accordance with the provisions of Article 44.
Appears in 1 contract
Samples: Concession Agreement
Submission of invoice, adjustment and certification. 27.3.1 The Concessionaire shall at least 30 days prior to the relevant Annuity Payment Date submit to the Independent Engineer, its invoice, addressed to the Authority GOTN, HD for payment of Annuity for the applicable Annuity Payment Period.
27.3.2 The Independent Engineer shall verify the invoices and duly adjust the same for any bonus or reduction in Annuity in accordance with Article 28 of this Agreement and should be submitted with necessary documentation in this regardAgreement.
27.3.3 The Independent Engineer shall after verification and certification of the amount claimed in the invoice alongwith along with adjustments, forward the invoice to Authority GOTN, HD with necessary documentation recommending payment in full or part thereof so as to reach Authority atleast GOTN, HD at least 15 days prior to the relevant Annuity Payment Date.
27.3.4 Upon receipt of the invoice together with recommendation for payment forwarded by the Independent Engineer, Authority GOTN, HD shall take all necessary steps and ensure payment of Annuity on the relevant Annuity Payment Date. The mode of payment of Annuity shall be as provided in Clause 27.4.
27.3.5 For avoidance of doubt, the Parties agree that notwithstanding any dispute which either of them may have as to the amount of invoice/Annuity certified and recommended for payment by the Independent Engineer, the Annuity payable on the relevant Annuity Payment Date shall be that certified by the Independent Engineer. Provided such payment shall be without prejudice to a final adjustment according to the terms on which such dispute is resolved whether amicably or through arbitration in accordance with the provisions of Article 44.
Appears in 1 contract
Samples: Concession Agreement
Submission of invoice, adjustment and certification. 27.3.1 25.3.1 The Concessionaire shall at least 30 days prior to the relevant Annuity Payment Date submit to the Independent Engineer, its invoice, addressed to the Authority for payment of Annuity for the applicable Annuity Payment Period.
27.3.2 25.3.2 The Independent Engineer shall verify the invoices and duly adjust the same for any bonus or reduction in Annuity in accordance with Article 28 of this Agreement and should be submitted with necessary documentation in this regard.
27.3.3 25.3.3 The Independent Engineer shall after verification and certification of the amount claimed in the invoice alongwith along with adjustments, forward the invoice to Authority with necessary documentation recommending payment in full or part thereof so as to reach Authority atleast at least 15 days prior to the relevant Annuity Payment Date.
27.3.4 25.3.4 Upon receipt of the invoice together with recommendation for payment forwarded by the Independent Engineer, Authority shall take all necessary steps and ensure payment of Annuity on the relevant Annuity Payment Date. The mode of payment of Annuity shall be as provided in Clause 27.425.4.
27.3.5 25.3.5 For avoidance of doubt, the Parties agree that notwithstanding any dispute which either of them may have as to the amount of invoice/Annuity certified and recommended for payment by the Independent Engineer, the Annuity payable on the relevant Annuity Payment Date shall be that certified by the Independent Engineer. Provided such payment shall be without prejudice to a final adjustment according to the terms on which such dispute is resolved whether amicably or through arbitration in accordance with the provisions of Article 44.
Appears in 1 contract
Samples: Concession Agreement
Submission of invoice, adjustment and certification. 27.3.1 The Concessionaire shall at least 30 days prior to the relevant Annuity Payment Date submit to the Independent Engineer, its invoice, addressed to the Authority for payment of Annuity for the applicable Annuity Payment Period.
27.3.2 The Independent Engineer shall verify the invoices and duly adjust the same for any bonus or reduction in Annuity in accordance with Article 28 of this Agreement and should be submitted submit the same along with necessary documentation in this regardregard to the Authority.
27.3.3 The Independent Engineer shall after verification and certification of the amount claimed in the invoice alongwith adjustments, forward the invoice to Authority with necessary documentation recommending payment in full or part thereof so as to reach Authority atleast 15 days prior to the relevant Annuity Payment Date.
27.3.4 Upon receipt of the invoice together with recommendation for payment forwarded by the Independent Engineer, Authority shall take all necessary steps and ensure payment of Annuity on the relevant Annuity Payment Date. The mode of payment of Annuity shall be as provided in Clause 27.4.
27.3.5 For avoidance of doubt, the Parties agree that notwithstanding any dispute which either of them may have as to the amount of adjustments in the invoice/Annuity certified and recommended for payment by the Independent Engineer, the Annuity payable on the relevant Annuity Payment Date shall be that as arrived after effecting adjustments certified by the Independent Engineer. Provided such payment shall be without prejudice to a final adjustment according to the terms on which such dispute is resolved whether amicably or through arbitration in accordance with the provisions of Article 44.
Appears in 1 contract
Samples: Concession Agreement