Termination of Contract. 19.10.1 In the event of non-performance of the bidder as decided by the Bank or any disputes or differences arising between the Parties hereto on any matter / provision set out in this RfP and subsequent Service Agreement for the selected Agency, the Parties shall try to resolve the matter amicably inter se. In case if the matter is not settled amicably and further Bank is not satisfied with the services of the agency or the agency failing to perform the services agreed to under this RfP, Bank shall issue a written notice of 15 days to the agency informing the agency of its dissatisfaction or the non-performance of the agency and if the error is not rectified within the given time , Bank shall not be liable to pay the agency for the same for the period of non-performance by agency and the decision of Bank in this regards shall be final and binding on the Service provider/agency. 19.10.2 In the event the agency does not comply with its obligations, on the termination of the notice period, Bank shall be at liberty to terminate the Agreement, without further notice, and shall additionally have the right to claim any further rights available under the law, including without limitation, the right to damages. 19.10.3 Upon termination of the Agreement, the Agency would promptly hand over to SIDBI all Deliverable Items, including work-in-progress, on “as is where is” condition subject to the mutual settlement of all money due and payable to them being paid. During the period of notification of termination, the Agency shall complete pending assignments and Bank shall agree to settle the dues in respect of assignments after completion thereof by the Agency, except if specifically instructed by the Bank to act otherwise. 19.10.4 The Bank would also have the right to terminate such Service Agreement with three months notice or such period as agreed without assigning any reason. 19.10.5 The Bank reserves the right to cancel the contract, without any prior notice, in the event of happening one or more of the following Conditions: ❖ Failure of the successful bidder to accept the contract ❖ Delay in services ❖ Serious problems in quality of services ❖ Services of the Agency not being considered satisfactory by the Bank 19.11
