Examples of Free Issue Material in a sentence
Free Issue Material (FIM) will be issued to the Contractor only after receipt of the Insurance Policy from the Contractor.
Wherever contracts envisage supply of Free Issue Material (FIM) by the Purchaser to the contractor for fabrication of the contracted equipment/stores, such Free Issue Material shall be safeguarded by an insurance policy to be provided by the Contractor at his own cost for the full value of such materials and the insurance policy shall cover, the following risks specifically and shall be valid for six months beyond the contractual delivery date: 1.
Successful tenderer will have to arrange insurance showing beneficiary as “Institute for Plasma Research” at their risk and cost towards adequate security for the materials/property provided/issued by the Purchaser as Free Issue Material for the due execution of the contract.
In case the materials supplied by bidder are reported to be non-compliant with ordered specifications, after it’s receipt in MDL or during warranty period, for which the payments have already been made by MDL to the firm, then the firm is required to submit Free Issue Material Bank Guarantee (FIMBG) in the prescribed format at Enclosure-16 and FIMBG should be submitted within 15 days from intimation of the non-conformity of items by MDL.
No delay in submission of Bank Guarantee for Free Issue Material (FIMBG) shall be permissible beyond the mobilization period.