bid document for the work - IDCO
bid document for the work - IDCO
bid document for the work - IDCO
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complete, in which case any expenses which may be incurred in excess of <strong>the</strong> sum which<br />
would have been paid to <strong>the</strong> original Contractor if <strong>the</strong> whole <strong>work</strong> had been executed by<br />
him ( of <strong>the</strong> amount of which excess <strong>the</strong> certificate in writing of <strong>the</strong> authorized officer of <strong>the</strong><br />
Corporation shall be final and conclusive) shall be borne and paid by <strong>the</strong> original<br />
Contractor and may be deducted from any money due to him by Orissa Industrial<br />
Infrastructure Development Corporation under <strong>the</strong> contract or o<strong>the</strong>rwise or from his security<br />
deposit or <strong>the</strong> proceeds of sale <strong>the</strong>reof, or a sufficient part <strong>the</strong>reof.<br />
In <strong>the</strong> event of any of <strong>the</strong> above courses adopted by <strong>the</strong> Corporation, <strong>the</strong> Contractor shall<br />
have no claim to compensation <strong>for</strong> any loss sustained by him by reason of his having<br />
purchased or procured any materials, or entered into any engagements, or made any<br />
advance on account of or with a view to, <strong>the</strong> execution of <strong>the</strong> <strong>work</strong> or <strong>the</strong> per<strong>for</strong>mance of<br />
<strong>the</strong> contract. And in case <strong>the</strong> contract shall be rescind under <strong>the</strong> provision a<strong>for</strong>esaid, <strong>the</strong><br />
Contractor shall not be entitled to recover or be paid any sum <strong>for</strong> any <strong>work</strong>, <strong>the</strong>reto <strong>for</strong><br />
actually per<strong>for</strong>med under this contract, unless and until <strong>the</strong> authorized officer of <strong>the</strong><br />
Corporation shall have certified in writing <strong>the</strong> per<strong>for</strong>mance of such <strong>work</strong> and <strong>the</strong> value<br />
payable in respect <strong>the</strong>reof and he shall only be entitled to be paid <strong>the</strong> value so certified.<br />
(d)<br />
Security deposit of <strong>the</strong> Contractor shall be refunded only after final bill is paid and<br />
completion of defect liability period of 12(Twelve) months from <strong>the</strong> date of completion of <strong>the</strong><br />
<strong>work</strong>.<br />
CLAUSE - IV<br />
CONTRACTOR REMAINS LIABLE TO PAY COMPENSATION<br />
IF ACTION NOT TAKEN UNDER CLAUSE- IV:<br />
In any case in which any of <strong>the</strong> powers, conferred upon <strong>the</strong> Corporation by Clause-III hereof shall<br />
have become exercisable and <strong>the</strong> same shall not be exercised. The non-exercise <strong>the</strong>reof shall not<br />
constitute a waiver of any of <strong>the</strong> conditions hereof and such powers shall but withstanding be<br />
exercisable in event or any future case of default by <strong>the</strong> Contractor of which by any clause or<br />
clauses hereof he is declared liable to pay compensation/ penalty amounting to <strong>the</strong> whole of his<br />
security deposit, <strong>the</strong> liability of <strong>the</strong> Contractors <strong>for</strong> past and future compensation/penalty shall<br />
remain unaffected.<br />
POWERS TO TAKE POSSESSION OF OR REQUIRE REMOVAL OF OR SELL<br />
CONTRACTOR’S PLANTS :<br />
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