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bid document for the work - IDCO

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Besides above, 5% ( five per cent) of <strong>the</strong> contract value of <strong>the</strong> <strong>work</strong> will be deducted towards<br />

testing and commissioning of <strong>the</strong> system which will be released after successful completion of <strong>the</strong><br />

same.<br />

PAYMENT ON SUPPLY OF MATERIALS:<br />

The contractor can avail <strong>the</strong> advance against <strong>the</strong> supply of pipes , special and valves on requisition<br />

and presentation of bill <strong>document</strong> in con<strong>for</strong>mation of relevant IS specification and production of<br />

manufacturers test certificate , guarantee certificate third party inspection certificate . <strong>IDCO</strong> can<br />

release maximum up to 70% of <strong>the</strong> cost of <strong>the</strong> pipe , specials and valves supply stored at <strong>the</strong> <strong>work</strong><br />

site , on verification and measurement by <strong>the</strong> site engineer. The contractor , however, can not<br />

claim <strong>for</strong> such payment and postpone <strong>the</strong> <strong>work</strong> on this ground. The contractor shall be responsible<br />

<strong>for</strong> proper safeguarding of <strong>the</strong> materials such pipes, special and valves etc., brought by him to <strong>the</strong><br />

site till completion of <strong>the</strong> <strong>work</strong> in all respect. The contractor shall also be responsible <strong>for</strong> shortage<br />

or misuse of <strong>the</strong> materials and <strong>for</strong> <strong>the</strong>ir proper watch and safe custody.<br />

MOBILISATION ADVANCE.<br />

<strong>IDCO</strong> can provide on application maximum 10% mobilization advance on agreement value only<br />

after execution of <strong>the</strong> agreement on furnishing Bank Guarantee in <strong>the</strong> appropriate pro<strong>for</strong>ma which<br />

will carry interest at <strong>the</strong> rate prescribed by Nationalized Banks on commercial loans plus 2% extra<br />

till advance is fully recovered. The advance will be recovered in such installments as may be<br />

decided by <strong>IDCO</strong>.<br />

CLAUSE - VIII :<br />

The final bill shall be prepared by <strong>the</strong> officer of <strong>the</strong> Orissa Industrial Infrastructure Development<br />

Corporation in accordance with <strong>the</strong> rules of <strong>the</strong> Corporation in <strong>the</strong> presence of <strong>the</strong> Contractor<br />

within three month of <strong>the</strong> date of completion.<br />

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