The Bank’s right to accept any Bid and to reject any or all Bids. (A) Notwithstanding anything mentioned above, the Bank reserves the right to accept or reject any Bid at any time prior to award of Contract without thereby incurring any liability to the affected tenderer or tenderers. The Bank shall not assign any reason for rejection of any or all Bids. (B) RBI reserves the right to cancel / annul the selection process, at any stage prior to the award of the Contract on account of the following: i. In case no Bid is received. ii. Occurrence of any event due to which it is not possible to proceed with the selection process. iii. An evidence of a possible collaboration / mischief on part of Tenderers, manipulating the competition and transparency of the selection process, any other reason, which in the opinion of the Bank necessitates the cancellation of the selection process. iv. On occurrence of any such event, RBI shall notify all the Tenderers within 7 days or any reasonable time of such decision. RBI is not obligated to provide any reason or clarification to any tenderer on this account. Liability of the RBI under this clause is restricted to returning the Bid Security and no other reimbursements of costs/ expenses of any type shall be made by the Bank on this account. v. The Bank further reserves the right to re-tender the process or get the work done by a Government agency or Quasi Government agency if the Bank is of the opinion that the bids received are not economically or otherwise feasible or not acceptable due to reasons in sub clauses (i) to (iv) above. vi. The Bank discourages the stipulation of any additional conditions by the tenderer. (m) The Contractor shall not assign the Contract or any part thereof: He shall not sublet any portion of the Contract except with the written consent of the Bank. In case of breach of these conditions, the Bank may serve a notice in writing on the contractor rescinding the Contract whereupon the security deposit shall stand forfeited to the Bank, without prejudice to his other remedies against the contractor. (n) The Contractor shall carry out all the work strictly in accordance with schedule of quantities, details and instructions given by the Bank's Engineer. If in the opinion of the Bank's Engineer, changes have to be made in the design and with the prior approval in writing of the Employer, they desire the Contractor to carry out the same. The contractor shall carry out the same without any extra charge. The Bank's decision in such cases shall be final and shall not be o...
