Tenure. The Consultant will be appointed for a period of 12 months from the date of appointment, which inter-alia shall include the period of successful implementation. However, this would be subject to satisfactory performance during periodic reviews which would be solely adjudged by XXXXX. In case the performance of the consultant is deemed unsatisfactory, the contract will be terminated as per the provision of the "termination of contract" clause mentioned in this RFP. SIDBI, at its discretion, in larger interest of the project may extend the services of Consultant for partnering for a further period of not exceeding 12 months on the same terms and conditions. No Commitment to Accept Lowest Financial Proposal by value SIDBI shall be under no obligation to accept the lowest price bid or any other offer received in response to this RFP and shall be entitled to reject any or all offers including those received late or incomplete offers without assigning any reason whatsoever. The Bank reserves the right to make any changes in the terms and conditions of engagement. The Bank will not be obliged to meet and have discussions with any Consultant, and/or to listen to any representations unless there is change in the terms and conditions ofengagement. Payment terms SIDBI will release the payment of the agreed Professional Fees to the selected Consultant after deduction of applicable taxes at source. Payments will be made on quarterly basis based on achievement of demonstrable results of the envisaged milestones including specific areas pertaining to growth and profitability. If any of the items/ activities corresponding to which certain price as mentioned in the price Bid is quoted, is not taken up by the Bank during the course of this assignment, the Bank will not pay the professional fees quoted by the selected Consultant in the Price Bid against such activity/ item. Penalty SIDBI will impose Liquidated Damages of 1% of the cost of order value for each weeks delay or part thereof attributable to the vendor, subject to maximum of 10% of the cost if the selected Consultant fails to complete the due performance of the contract in accordance with the specifications and conditions agreed during the final contract negotiation, any delay in deployment of resources beyond 30 days from (1) contract date/ LOI / order, OR (2) the date of issue of a change order for resources by XXXXX. In case of absence of an on-site resource beyond 5 working days in a quarter and no stand-by re...
Tenure. 19.5.1 The tenure of the contract with the Agences, so appointed, would run for 2 years from date of appointment under this RfP, with provision for extension as specified in this RfP. However, this would be subject to satisfactory performance of each agency periodically or after a year, which would be solely adjudged by the Bank. In case the performance of any Agency/ies is/are deemed unsatisfactory, their contract will be terminated as per the provisions of the “Termination of Contract” clause mentioned in the RFP. 19.5.2 In case the need arises, SIDBI may, at its sole discretion, extend the contract for a further period of a maximum of one year on the proportiionate cost basis and same terms and conditions. 19.6