Special Conditions of Contract. 1. Special conditions of Contract shall be read in conjunction with the General Conditions of Contract, specifications of work, drawings and any other documents forming part of this contract, wherever the context so requires.
2. Tenderer shall submit a Security Deposit of Rs. 3,50,000/- (Rupees Three Lakh Fifty thousand only) by NEFT in our Account Number: 186003001, Account Name: RBI, Kolkata, IFSC: RBIS0KLPA01 (‘0’ in the code represent ZERO) within a week of such intimation. Upon depositing Security Deposit, the Bank shall return the EMD to the successful tenderer without interest. The tenderer shall be required to sign an agreement containing various terms and conditions.
3. The security deposit will be refunded on completion of the contract period without any interest thereon; however, the Bank reserves the right to appropriate part or full amount of the deposit to recover any outstanding dues / reparations from the contractor.
4. The security deposit made with the Reserve Bank shall not carry any interest and will be refunded on the successful completion of the period of contract. However, the Bank reserves the right to appropriate part or full amount of the deposit to recover any outstanding dues/reparations from the contractor.
5. The tenderer has to submit his quote in Part II of the tender in respect of both shredded currency briquettes and unserviceable items failing which the tender is liable to be rejected.
6. The amount shall be paid to the Bank at fortnightly intervals for briquettes produced by SBS machine (as per machine reports) during the previous fortnight. As regards unserviceable items, the amount payable by the tenderer will be reckoned on the basis of weight or quantum collected from RBI premises and the sale consideration has to be paid before lifting of such items from RBI premises.
7. The amount payable in respect of currency briquettes shall be communicated to the contractor at fortnightly intervals and the contractor has to pay the sale consideration within four days from the date of the communication.
8. The Tenderer/firm should employ his/your own people to collect the entire output of briquettes from Shredding & Briquetting System and transport the same outside Bank’s premises at frequent intervals. The transportation will be undertaken after packing the briquettes in suitable bags. Cost of transportation shall be borne by the contractor.
9. The contractor shall not assign the contract to any other party. He shall not sublet...
Special Conditions of Contract. 1. The rates quoted by the Agency shall be inclusive of all taxes, levies, transportation, insurance etc. (all inclusive). 2. Quoted rates should be workable, reasonable and should include incidental and all overheads and profits. The Tenderer will furnish Rate Analysis for scrutiny of the rates by NABARD, if required. 3. EMD amount of Rs.11,000/- is to be submitted to NABARD at the time of submitting the tender, in the following Bank Account as indicated in the “Notice Inviting Tender” depending on the number of works quoted. Account name National Bank for Agriculture and Rural Development Bank NABARD Branch Head Office, Mumbai A/C No (VAN) NABADMN38 IFSC NBRD0000002 4. “Retention Money Deposit” i.e. RMD of 5% of accepted value of the tender (annual charges) shall be directly credited to XXXXXX’x current account (details given above) by the successful Bidder within 15 days of intimation to him of acceptance of tender. The RMD will be liable to be forfeited in case the contractor commits any breach of any terms and conditions of the Contract or fails to complete the work. This forfeiture is independent of the liquidated damages provided for in the Contract. The RMD will be released after 30 days from the expiry of the satisfactory AMC period and will not bear any interest. 5. The firm will depute staff at its own cost to ensure that the work is attended in time as per the scope of work of the tender, to the satisfaction of NABARD and no staff shall be provided by NABARD on monthly wages basis except the AMC fees. 6. The staff of the agency should follow the security and protocol of NABARD, carry valid I-card and put on uniform of the firm while working in NABARD’s premises. 7. Monthly payment will be made based on bill submitted by the contractor and certified by the Assistant Caretaker/ Caretaker to the effect that the services are provided as per the contract agreement. 8. GST-TDS, IT-TDS, and other taxes as applicable, will be deducted from total payment due to the Contractors. 9.
Special Conditions of Contract. Number of GC Clause Amendments of, and Supplements to, Clauses in the General Conditions of Contract 1.1 INDIA 1.2 ENGLISH 1.3 The addresses are: Employer : India Infrastructure Finance Company Limited Location : 0xx Xxxxx, Xxxxxx Xxxxx-0, Xxxxx X, XXXX Xxxxx, Xxxx Xxxxxx Xxxxx, Xxxxx- 000000 Attention: Xxx. Xxxxxx Xxxxx E-mail: xxxxxx@xxxxx.xx 1.4 The Authorized Representatives are: For the EMPLOYER: Xxx. Xxxxxx Xxxxx xxxxxx@xxxxx.xx For the Bidder: 2.1 The Effective Date of contract is: The Date of Signing of the Contract 2.2 The date for the commencement of Services is : 2.3 The contract would expire after completion of 5 years from commencement of Services 3 The risks and the coverage shall be as follows: a) employer’s liability and workers’ compensation insurance in respect of the Personnel of the Bidder, in accordance with the relevant provisions of the Applicable Law, as well as, with respect to such Personnel, any such life, health, accident, travel or other insurance as may be appropriate; and Professional liability insurance, with a minimum coverage equivalent to total Contract Price. 4 PAYMENT TERMS: Payment is to be raised on quarterly basis and it shall be released by IIFCL within 45 days of receipt of invoice / clarification (if required), whichever is later. The invoice is to be backed by quarterly uptime report, which needs to be submitted for the billed quarter. 4.1 Penalty 1) IIFCL will have the right to withhold payment or terminate the Contract at any time if the service of bidder is not found satisfactory. The decision of the competent authority in this regard will be final and binding. 2) Penalty shall be applicable on the basis of terms and conditions mentioned in Service Level Agreement(SLA) as mentioned in this document. 5 All Disputes shall be settled by arbitration in accordance with the following provisions: Dispute Settlement Disputes shall be settled by arbitration in accordance with the provisions of: The Arbitration and Conciliation Act 1996 Miscellaneous In any arbitration proceeding hereunder: 1. Proceedings shall, unless otherwise agreed by the Parties, be held in New Delhi. 2. The English language shall be the official language for all purposes; The decision of the sole arbitrator or of a majority of the arbitrators (or of the third arbitrator if there is no such majority) shall be final and binding and shall be enforceable in any court of competent jurisdiction, and the Parties hereby waive any objections to or claims o...
Special Conditions of Contract