LIQUIDATED DAMAGES FOR DEFAULT IN SERVICES. In case of deficiency of services up to the satisfaction of SIDBI, liquidated damages subject to the maximum 8% of the contract value could be levied on the agency. The quantum of liquidated damages will be decided by a committee of officers of SIDBI whose decision shall be final and binding. However, the agency would be given an opportunity to make representation to the committee and clarify its position with regard to the deficiency and/or non-performance.
