office of the chief engineer, project swastik, c/o 99 apo ... - Bro.nic.in

47
(h)
(i)
(j)
(k)
(l)
Other contractors, public authorities, utilities or the Employer does not work within the dates and
other constraints stated in the Contract, and they cause delay or extra cost to the Contractor.
The advance payment is delayed, beyond 56 days after receipt of application and bank guarantee.
The effect on the contractor of any of the Employer’s Risks.
The Engineer unreasonably delays issuing a Certificate of Completion.
Other compensation events listed in the Contract Data or mentioned in the Contract.
44.2 If a compensation event would cause additional cost or would prevent the work being completed before the
Intended Completion Date, the Contract Price shall be increased and/or the Intended Completion Date is extended.
The Engineer shall decide whether and by how much the Contract Price shall be increased and whether and by how
much the Intended Completion Date shall be extended.
44.3 As soon as information demonstrating the effect of each Compensation Event upon the Contractor’s forecast
cost has been provided by the Contractor, it is to be assessed by the Engineer and the Contract Price shall be adjusted
accordingly. If the Contractor’s forecast is deemed unreasonable, the Engineer shall adjust the Contract Price based on
Engineer’s own forecast. The Engineer will assume that the Contractor will react competently and promptly to the
event.
44.4 The Contractor shall not be entitled to compensation to the extent that the Employer’s interests are adversely
affected by the Contractor not having given early warning or not having cooperated with the Engineer.
45. Tax.
45.1 The rates quoted by the Contractor shall be deemed to be inclusive of the sales and other taxes that the
Contractor will have to pay for the performance of this Contract. The Employer will perform such duties in regard to
the deduction of such taxes at source as per applicable law.
46. Currencies.
46.1 All payments shall be made in Indian Rupees.
47. Price Adjustment.
The rates quoted shall be final and remain applicable during the entire period of execution up to completion of
the project including extended period on account of any extension granted and no escalation in rates will be permitted
due to increase in prices of material, labour –wages, railway freight or due to any reasons whatsoever for contract
works of completion period up to 12 months. However, for contract works having completion period more than 12
months the price adjustment/escalation criteria shall be as follows:-
47.1 (a) The price adjustment shall apply for the work done from the start date given in the contract data up to
end of the initial intended completion date or extensions granted by the Engineer and shall not apply to the
work carried out beyond the stipulated time for the reasons attributable to the contractor.
(b)
(c)
The price adjustment shall be determined during each month from the formula given in the contract
data.
Following expressions and meanings are assigned to the work done during each month:
R =
Total value of work done during the month. It would include the amount of secured advance
granted, if any, during the month, less the amount of secured advance recovered, if any during
the month. It will exclude value for works executed under variations for which price
adjustment will be worked separately based on the terms mutually agreed.