Common use of SPLITTING OF ORDER Clause in Contracts

SPLITTING OF ORDER. The Bank reserves its right for splitting scope of work between two service providers. The splitting of the order will be in 60:40 ratios, provided the L2 service provider agrees to match the rates quoted by L1 service provider and agrees for all the terms and conditions. In case L2 service provider is not willing to match L1 rates, Bank will call L3, L4 service providers etc., in that order to step into the shoes of L2 service provider. In the event of L3, L4 etc., service provider not matching the L1 rates the entire quantity will be awarded to L1.