Common use of Independent Monitors Clause in Contracts

Independent Monitors. 7.1 SIDBI is in the process of appointing Independent Monitors (hereinafter referred to as Monitors) for this Pact in consultation with the Central Vigilance Commission. 7.2 The task of the Monitors shall be to review independently and objectively, whether and to what extent the parties comply with the obligations under this Pact. 7.3 The Monitors shall not be subject to instruction by the representatives of the parties and perform their functions neutrally and independently. 7.4 Both the parties accept that the Monitors have the right to access all the documents relating to the project/procurement, including minutes of meetings. 7.5 As soon as the Monitor notices or has reason to believe, a violation of the Pact, he will so inform the Authority designated by SIDBI 7.6 The BIDDER(s) accepts that the Monitor has the right to access without restriction to all Project documentation of SIDBI including that provided by the BIDDER. The BIDDER will also grant the Monitor, upon his request and demonstration of a valid interest, unrestricted and unconditional access to his project documents. The same is applicable to Subcontractors. The Monitor shall be under contractual obligation to treat the information and documents of the BIDDER/Subcontractor(s) with confidentiality 7.7 SIDBI will provide to the Monitor sufficient information about all meetings among the parties related to the Project provided such meetings could have an impact on the contractual relations between the parties. The parties will offer to the Monitor the option to participate in such meetings 7.8 The Monitor will submit a written report to the designed Authority of SIDBI within 8 to 10 weeks from the date of reference or intimation to him by SIDBI /BIDDER and should the occasion arise, submit proposals for correcting problematic situations. 8

Independent Monitors. 7.1 SIDBI The BUYER is in the process of appointing Independent Monitors (hereinafter referred to as Monitors) for this Pact in consultation with the Central Vigilance Commission. 7.2 The task of the Monitors shall be to review independently and objectively, whether and to what extent the parties comply with the obligations under this Pact. 7.3 The Monitors shall not be subject to instruction by the representatives of the parties and perform their functions neutrally and independently. 7.4 Both the parties accept that the Monitors have the right to access all the documents relating to the project/procurement, including minutes of meetings. 7.5 As soon as the Monitor notices or has reason to believe, a violation of the Pact, he will so inform the Authority designated by SIDBI the BUYER 7.6 The BIDDER(s) accepts that the Monitor has the right to access without restriction to all Project documentation of SIDBI the BUYER including that provided by the BIDDER. The BIDDER will also grant the Monitor, upon his request and demonstration of a valid interest, unrestricted and unconditional access to his project documents. The same is applicable to Subcontractors. The Monitor shall be under contractual obligation to treat the information and documents of the BIDDER/Subcontractor(s) with confidentiality 7.7 SIDBI The BUYER will provide to the Monitor sufficient information about all meetings among the parties related to the Project provided such meetings could have an impact on the contractual relations between the parties. The parties will offer to the Monitor the option to participate in such meetings 7.8 The Monitor will submit a written report to the designed Authority of SIDBI the BUYER within 8 to 10 weeks from the date of reference or intimation to him by SIDBI /BIDDER the BUYER/BIDDER and should the occasion arise, submit proposals for correcting problematic situations. 8

Independent Monitors. 7.1 SIDBI is in the process of appointing 8.1 The BUYER may appoint Independent Monitors (hereinafter referred to as Monitors) for this Pact in consultation with the Central Vigilance Commission. 7.2 8.2 The task of the Monitors shall be to review independently and objectively, whether and to what extent the parties comply with the obligations under this Pact. 7.3 8.3 The Monitors shall not be subject to instruction by the representatives of the parties and perform their functions neutrally and independently. 7.4 8.4 Both the parties accept that the Monitors have the right to access all the documents relating to the project/procurement, including minutes of meetings. 7.5 8.5 As soon as the Monitor notices or has reason to believe, a violation of the Pact, he will so inform the Authority designated by SIDBI 7.6 the BUYER 8.6 The BIDDER(s) accepts that the Monitor has the right to access without restriction to all Project documentation of SIDBI the BUYER including that provided by the BIDDER. The BIDDER will also grant the Monitor, upon his request and demonstration of a valid interest, unrestricted and unconditional access to his project documents. The same is applicable to Subcontractors. The Monitor shall be under contractual obligation to treat the information and documents of the BIDDER/Subcontractor(s) with confidentiality 7.7 SIDBI 8.7 The BUYER will provide to the Monitor sufficient information about all meetings among the parties related to the Project provided such meetings could have an impact on the contractual relations between the parties. The parties will offer to the Monitor the option to participate in such meetings 7.8 8.8 The Monitor will submit a written report to the designed Authority of SIDBI the BUYER within 8 to 10 weeks from the date of reference or intimation to him by SIDBI /BIDDER the BUYER/BIDDER and should the occasion arise, submit proposals for correcting problematic situations. 89

Independent Monitors. 7.1 SIDBI is in the process of appointing The BUYER has appointed Independent Monitors (hereinafter referred to as Monitors) for this Pact in consultation with the Central Vigilance Commission. 7.2 Please refer to Important Information Section for details. The task of the Monitors shall be to review independently and objectively, whether and to what extent the parties comply with the obligations under this Pact. 7.3 The Monitors shall not be subject to instruction by the representatives of the parties and perform their functions neutrally and independently. 7.4 Both the parties accept that the Monitors have the right to access all the documents relating to the project/procurement, including minutes of meetings. 7.5 As soon as the Monitor notices or has reason to believe, a violation of the Pact, he will so inform the Authority designated by SIDBI 7.6 the BUYER The BIDDER(s) accepts that the Monitor has the right to access without restriction to all Project documentation of SIDBI the BUYER including that provided by the BIDDER. The BIDDER will also grant the Monitor, upon his request and demonstration of a valid interest, unrestricted and unconditional access to his project documents. The same is applicable to Subcontractors. The Monitor shall be under contractual obligation to treat the information and documents of the BIDDER/Subcontractor(s) with confidentiality 7.7 SIDBI The BUYER will provide to the Monitor sufficient information about all meetings among the parties related to the Project provided such meetings could have an impact on the contractual relations between the parties. The parties will offer to the Monitor the option to participate in such meetings 7.8 The Monitor will submit a written report to the designed Authority of SIDBI the BUYER within 8 to 10 weeks from the date of reference or intimation to him by SIDBI /BIDDER the BUYER/BIDDER and should the occasion arise, submit proposals for correcting problematic situations. 8.