bid document for the work - IDCO
bid document for the work - IDCO
bid document for the work - IDCO
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Penalty levied <strong>for</strong> any delay which will occur during <strong>the</strong> last 3 ( three) months of <strong>the</strong> contract<br />
period can not be considered <strong>for</strong> waiver by any Authority o<strong>the</strong>r than <strong>the</strong> Chairman-Cum-Managing<br />
Directors of <strong>the</strong> Corporation subject to <strong>the</strong> consideration that <strong>the</strong> application <strong>for</strong> waiver of penalty to<br />
<strong>the</strong> Chairman-cum-Managing Director of <strong>the</strong> Corporation can only be considered if <strong>the</strong> <strong>work</strong> gets<br />
finally finished within time schedule.<br />
It is mutually agreed by both <strong>the</strong> parties that in case of any dispute arising out of <strong>the</strong> provisions of<br />
this clause, <strong>the</strong> decision of <strong>the</strong> Chairman-Cum-Managing Director of <strong>the</strong> Corporation is final and<br />
binding on both <strong>the</strong> parties and <strong>the</strong> decision is nei<strong>the</strong>r arbitrable or changeable within <strong>the</strong> court of<br />
law.<br />
CLAUSE - III<br />
ACTION WHEN WHOLE SECURITY DEPOSIT IS FORFEITED:<br />
In any case in which under any clause or clauses of this contract, <strong>the</strong> Contractors shall have<br />
rendered himself liable to pay compensation/ penalty amounting to <strong>the</strong> whole of his security<br />
deposit in <strong>the</strong> hands of <strong>the</strong> Corporation (whe<strong>the</strong>r paid in one sum or deducted by installments) <strong>the</strong><br />
authorized officer on behalf of <strong>the</strong> Managing Director of <strong>the</strong> Corporation, shall have power to adopt<br />
any of <strong>the</strong> following courses, as he may deem best suited to <strong>the</strong> interest of Corporation.<br />
(a)<br />
(b)<br />
(c)<br />
To rescind <strong>the</strong> contract (of which rescission notice in writing to <strong>the</strong> Contractor under <strong>the</strong><br />
hand of <strong>the</strong> authorized officer of <strong>the</strong> Corporation shall be conclusive evidence) and in which<br />
case, <strong>the</strong> security deposit of <strong>the</strong> Contractor shall stand <strong>for</strong>feited, and be absolutely at <strong>the</strong><br />
disposal of <strong>the</strong> Corporation.<br />
To employ <strong>the</strong> labour, paid by <strong>the</strong> Orissa Industrial Infrastructure Development Corporation<br />
and to supply materials to carry out <strong>the</strong> <strong>work</strong>, or any part of <strong>the</strong> <strong>work</strong>, debiting <strong>the</strong><br />
Contractor with <strong>the</strong> cost of <strong>the</strong> labour and <strong>the</strong> price of <strong>the</strong> materials (of <strong>the</strong> amount of which<br />
<strong>the</strong> cost and price certificate of <strong>the</strong> authorized officer of <strong>the</strong> Corporation shall be final and<br />
conclusive against <strong>the</strong> Contractor) and crediting him with <strong>the</strong> value of <strong>the</strong> <strong>work</strong> done, in all<br />
respects in <strong>the</strong> same manner and at <strong>the</strong> same rates as if it had been carried out by <strong>the</strong><br />
Contractor under <strong>the</strong> terms of his contract, <strong>the</strong> certificate of <strong>the</strong> authorized officer of <strong>the</strong><br />
Corporation as to <strong>the</strong> value of <strong>the</strong> <strong>work</strong> done shall be final and conclusive against <strong>the</strong><br />
Contractor.<br />
To measure up <strong>the</strong> <strong>work</strong> of <strong>the</strong> Contractor, and to take such part of <strong>the</strong> <strong>work</strong> of <strong>the</strong> contract<br />
as shall be un-executed out of his hands and to give it to ano<strong>the</strong>r Contractor to<br />
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