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

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Note:- The price adjustment benefit calculated as per the stipulations at 47.1 for the first 12 months will be
deducted from the total price adjustment benefits for the work reckoned from the start of the work till
completion for contracts having completion period more than 12 months.
47.2 To the extent that full compensation for any rise or fall in costs to the contractor is not covered by the
provisions of this or other clauses in the contract, the unit rates and prices included in the contract shall be deemed to
include amounts to cover the contingency of such other rise or fall in costs.
48. Retention.
48.1 The employer shall retain from each payment due to the Contractor the proportion stated in the Contract Data
until Completion of the whole of the Works.
48.2 On completion of the whole of the works half the total amount retained is repaid to the Contractor and half
when the Defects Liability Period has passed and the Engineer has certified that all Defects notified by the Engineer to
the Contractor before the end of this period have been corrected.
48.3 On completion of the whole works, the contractor may substitute retention money with an “on demand” Bank
Guarantee.
49. Liquidated Damages
49.1 The Contractor shall pay liquidated damages* to the Employer at the rate per day stated in Contract Data
(for the whole of the works or the milestone as stated in the contract data). The total amount of liquidated damages
shall not exceed the amount defined in the Contract Data. The Employer may deduct liquidated damages from
payments due to the Contractor. Payment of liquidated damages does not affect the Contractor’s liabilities.
* For each day that the completion date is later than the intended completion date.
49.2 If the Intended Completion Date is extended after liquidated damages have been paid, the Engineer shall
correct any overpayment of liquidated damages by the contractor by adjusting the next payment certificate. The
Contractor shall be paid interest on the over payment calculated from the date of payment of repayment at the rate
specified in Sub-Clause 43.1.
49.3 If the contractor fails to comply with the time for completion as stipulated in the tender, then the contractor
shall pay to the employer the relevant sum stated in the Contract Data as Liquidated damages for such default and not
as penalty for every date or part of day which shall elapse between relevant time for completion and the date stated in
the taking over certificate of the whole of the works on the relevant section, subject to the limit stated in the Contract
Data.
The Employer may, without prejudice to any other method of recovery deduct the amount of such damages
from any monies due or to become due to the contractor. The payment of deduction of such damages shall not relieve
the contractor from his obligation to complete the work on from any other of his obligations and liabilities under the
contract.
49.4 If, before the Time for completion of the whole of the works or, if applicable, any Section, a Taking-Over
Certificate has been issued for any part of the Works or of a Section, the liquidated damages for delay in completion
of the remainder of the works or of that Section shall, for any period of delay after date stated in such Taking-Over
Certificate, and in the absence of alternative provisions in the Contract, the reduced in the proportion which the value
of the part so certified bears to the value of the whole of the Works or Section, as applicable. The provisions of this
Sub-Clause shall only apply to the rate of liquidated damages and shall not affect the limit thereof.
50. Bonus
50.1 If the contractor achieves completion of the whole of the works prior to the Intended Completion Date prescribed in
Contract Data the Employer shall pay to the contractor a sum stated in Contract Data as bonus for every completed
month which shall elapse between the data of completion of all items of works as stipulated in the contract, including
variations ordered by the Engineer and the time prescribed in Clause 17.
For the purpose of calculating bonus payments, the time given in the Bid for completion of the whose of the works is
fixed and unless otherwise agreed, no adjustments of the time by any reason of granting an extension of time pursuant to
Clause 28 or any other clause of these conditions will be allowed. Any prior falling short of a completed months shall
be ignored for the purpose of computing the prior relevant for the payment of bonus.