bid document for the work - IDCO
bid document for the work - IDCO
bid document for the work - IDCO
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
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 />
35