Terms of Payment a. 60% of the total cost will be released after supply, installation & successful commissioning of the systems duly certified by Bidder, Officer of MEDA & authorized person of Beneficiary along with submission of Insurance policy (cover theft/burglary/fire/damage) documents effective from date of commissioning for CMC period. b. 20% of the total cost shall be released on receipt of one month successful performance report generated automatically through Remote Monitoring System.* c. 20% of the total cost shall be released on submission of next one month successful performance report in prescribed format generated automatically through Remote real time Monitoring System as well as manually which should be duly certified by Officer of MEDA, authorized person of Beneficiary..* *(Payment will be made after receiving of remaining grant from DPC) Deduction:- i. The TDS at the source will be deducted as per the Govt. rule and regulations. ii. will issue necessary certificates of TDS deduction iii. ‘C’ / ‘D’ form will not issue. SECTION – III GENERAL CONDITIONS OF CONTRACT (GCC) 1)
