SBIIMSPL definition
Examples of SBIIMSPL in a sentence
The work or extra items shall be started only after the approval of extra items rates by client / SBIIMSPL.
In case of any class of work for which is there is no specification mentioned, the same will be carried out in accordance with the Indian Standards Specifications subject to the approval of the Employer / SBIIMSPL.
The whole of work included in the contract shall be executed by the contractor and he shall not directly entrust and engage or indirectly transfer assign or under let the contract or any part or share thereof or interest therein without the written consent of the SBI through the SBIIMSPL and no undertaken shall relieve the contractor from the responsibility of the contractor from active superintendence of the work during its progress.
The successful Bidder shall be bound to execute the Agreement within 15 days from the receipt of intimation of acceptance of his Bid by SBIIMSPL.
SBIIMSPL reserves the right to accept or reject any Bid in part or in full or to cancel the Bidding process and reject all Bids at any time prior to award of the contract, without incurring any liability to the affected Bidder or Bidders or any obligation to inform the affected Bidder or Bidders of the grounds for the SBIIMSPL’s action.
If the work is delayed beyond the stipulated period for reasons attributable to the bidder, SBIIMSPL shall penalize them a penalty @ 0.5% per week for every week of delay or part thereof beyond the scheduled date of completion, in any case, not exceeding 5% of the contract value or the completed value of work.
The whole of the work to be performed under this contract shall be completed to the satisfaction of the SBIIMSPL and EMPLOYER.
He shall also indemnify SBIIMSPL in respect of any costs, charges or expenses arising out of any claim or proceedings and also in respect of any award of compensation or damage arising there from.
If the work is delayed beyond the stipulated period for reasons attributable to the bidder, SBIIMSPL shall penalize them a penalty @ 0.5% per week for every week of delay or part thereof beyond the scheduled date of completion, in any case, not exceeding 5% of the contract value or the completed value of work.Where the contractor is undertaking the AMC, the penalty clause will be as per the special terms and conditions.
If demanded by SBIIMSPL, the contractor shall supply a certificate issued by the manufacturer of wires and switches stating origin, date of manufacture, batch number and standard to which it complies and the test certificates.