Defect Liability Period (DLP) definition
Examples of Defect Liability Period (DLP) in a sentence
The contractor may, at his option, replace the retention amount with an unconditional BG from a bank and it should remain valid for a period of 60 (sixty) days beyond the date of completion of all contractual obligations of the contractor, including Defect Liability Period (DLP).
This bank guarantee shall be valid till three months beyond the Defect Liability Period (DLP) for the total order value including Post Warranty Maintenance charges.
The Scope of Project shall be subject to a cumulative Defect Liability Period (DLP) of [60 (sixty) months from the Completion Date.
The Defect Liability Period (DLP) as specified in General Conditions, shall be for a period of 24 months from the date of the Certificate of Provisional Acceptance.
Further, upon completion of Defect Liability Period (DLP) and for submission of CPBG for the Post Warranty Maintenance Period of three years, contractor has following two options:- Either opt for reduction of the original CPBG value to 10% of Post warranty maintenance contract value and extend the validity till 3 months beyond Post Warranty Maintenance Period.
The Scope of Project shall be subject to a cumulative Defect Liability Period (DLP) of 60 (Sixty) months from the Completion Date.
The Scope of Project shall be subject to a cumulative Defect Liability Period (DLP) of 12 (Twelve) months from the Completion Date.
The Performance Security submitted by the Concessionaire during the Construction Period shall be retained by the Authority up to third anniversary of the Appointed Date to be called as Defect Liability Period (DLP).
The same shall be returned after completion of Defect Liability Period (DLP) of 12 months All dues have to be cleared by Contractor and No-claim certificate has to be provided by the Contractor before releasing final (Security Deposit) SD.
In case of Performance Security in form of Bank Guarantee, the bidder may furnish an Unconditional Bank Guarantee as per format provided in the section "Bid Forms and Procedures" of the bidding documents from any Nationalised / Scheduled Bank as per the list provided in Annexure-1 of ITB and it should remain valid for a period of 60 (sixty) days beyond the date of completion of all contractual obligations of the contractor, including Defect Liability Period (DLP)/ warranty period, as applicable.