office of the chief engineer, project swastik, c/o 99 apo ... - Bro.nic.in
office of the chief engineer, project swastik, c/o 99 apo ... - Bro.nic.in office of the chief engineer, project swastik, c/o 99 apo ... - Bro.nic.in
66 Adjustment of Other material Component (vii) Price adjustment for increase or decrease in the cost of local materials other than cement, steel, bitumen and POL procured by the contractor shall be paid in accordance with the following formula: V m = 0.85 X P m /100 x R X (M 1 -M 0 )/M 0 V m = increase or decrease in the cost of work during the month under consideration due to changes in rates for local materials other than cement, steel, bitumen and POL M 0 = the all India wholesale price index (all commodities) on 28 days preceding the date of opening of Bids as published by the Ministry of Industrial Development, Government of India, New Delhi M 1 = the all India average wholesale price index (all commodities) for the month under consideration as published by the Ministry of Industrial Development, Government of India, New Delhi P m= Percentage of local material (other than cement, steel, bitumen and POL) of the work. [Cl.49] [Cl.50] [Cl.50] [Cl.51] & [Cl.52] The following percentages will govern the price adjustment for the entire contract in general: 1. Labour-P1 -25% 2. Cement-Pc - 5% 3. Steel - 5% 4. Bitumen-Pb - 10% 5. POL-Pf - 5% 6. Plant & Machinery Spares-Pp - 5% 7. Other materials-Pm - 45% Total - 100% (Applicable where the completion period is more than 12 (Twelve) months as per Clause No.47 of Conditions of Contract) 27 The proportion of payments retained (retention money) shall be 6% from each bill subject to a maximum of 5% of final contract price. [Cl.48] 28 Amount of liquidated damages for Delay in completion of works [Cl.49] Milestone 1--- (1/200) of the 30 % cost of Initial Contract Price, rounded off to the nearest thousand, per day Milestone 2 --- (1/200) of the 35 % cost of Initial Contract Price, rounded off to the nearest thousand, per day Milestone 3 --- (1/200) of the 35 % cost of Initial Contract Price, rounded off to the nearest thousand, per day 29 Maximum limit of liquidated damages for: delay in completion of work 30 Deleted 31 Deleted 10 percent of the Initial Contract price rounded off to the nearest thousand. [Cl.49]
67 32 The amounts of the advanced payment are : Nature of advance Amount (Rs. Condition to be fulfilled) [Cl.51 & 52] i. Mobilization 10% of the contract price ii. Equipment 90% for new and50% of depreciated value for old equip ment. Total amount will be subject to a maximum of 5% of The Contract Price iii. Secured 75% of Invoice advance for value non-perish able materials brought to site On submission of unconditional Bank Guarantee (to be drawn before the end of 20% of Contract period). The Contractor may furnish four bank guarantees of 2.5% each, valid for full period. After equipment is brought to site (provided the Engineer is satisfied that the equipment is required for performance of the contract) and on submission of unconditional Bank Guarantee for amount of advance. a) The materials are in-accordance with the specification for work; b) Such materials have been delivered to site, and are properly stored and protected against damage or deterioration to the satisfaction of the Engineer. The Contractor shall Store the bulk material in Measurable stacks; c) The Contractor’s records of the requirements, orders, receipt and use of materials are kept in a form approved by the Engineer and such records shall be available for inspection by the Engineer; d) The Contractor has submitted with his monthly statement the estimated value of the materials on site together with such documents as may be required by the Engineer for the purpose of valuation of the materials and providing evidence of ownership and payment thereof; e) Ownership of such materials shall be deemed to vest in the Employer for which the Contractor has submitted an Indemnity Bond in an acceptable format; and f) The quantities of materials are not excessive and shall be used within a reasonable time as determined by the Engineer. (The advance payment will be paid to the Contractor no later than 28 days after fulfilment of the above conditions) Note:- The Employer shall make advance payment (not to be paid in less than two instalments except in special circumstances for which the reasons to be recorded in writing) to the contractor.
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66<br />
Adjustment <strong>of</strong> O<strong>the</strong>r material Component<br />
(vii) Price adjustment for <strong>in</strong>crease or decrease <strong>in</strong> <strong>the</strong> cost <strong>of</strong> local materials o<strong>the</strong>r than<br />
cement, steel, bitumen and POL procured by <strong>the</strong> contractor shall be paid <strong>in</strong><br />
accordance with <strong>the</strong> follow<strong>in</strong>g formula:<br />
V m = 0.85 X P m /100 x R X (M 1 -M 0 )/M 0<br />
V m = <strong>in</strong>crease or decrease <strong>in</strong> <strong>the</strong> cost <strong>of</strong> work dur<strong>in</strong>g <strong>the</strong> month under<br />
consideration due to changes <strong>in</strong> rates for local materials o<strong>the</strong>r than cement,<br />
steel, bitumen and POL<br />
M 0 = <strong>the</strong> all India wholesale price <strong>in</strong>dex (all commodities) on 28 days preced<strong>in</strong>g<br />
<strong>the</strong> date <strong>of</strong> open<strong>in</strong>g <strong>of</strong> Bids as published by <strong>the</strong> M<strong>in</strong>istry <strong>of</strong> Industrial<br />
Development, Government <strong>of</strong> India, New Delhi<br />
M 1 = <strong>the</strong> all India average wholesale price <strong>in</strong>dex (all commodities) for <strong>the</strong> month<br />
under consideration as published by <strong>the</strong> M<strong>in</strong>istry <strong>of</strong> Industrial<br />
Development, Government <strong>of</strong> India, New Delhi<br />
P m= Percentage <strong>of</strong> local material (o<strong>the</strong>r than cement, steel, bitumen and POL) <strong>of</strong> <strong>the</strong> work.<br />
[Cl.49]<br />
[Cl.50]<br />
[Cl.50]<br />
[Cl.51] &<br />
[Cl.52]<br />
The follow<strong>in</strong>g percentages will govern <strong>the</strong> price adjustment for <strong>the</strong> entire contract <strong>in</strong><br />
general:<br />
1. Labour-P1 -25%<br />
2. Cement-Pc - 5%<br />
3. Steel - 5%<br />
4. Bitumen-Pb - 10%<br />
5. POL-Pf - 5%<br />
6. Plant & Mach<strong>in</strong>ery Spares-Pp - 5%<br />
7. O<strong>the</strong>r materials-Pm - 45%<br />
Total - 100%<br />
(Applicable where <strong>the</strong> completion period is more than 12 (Twelve) months as per Clause No.47 <strong>of</strong><br />
Conditions <strong>of</strong> Contract)<br />
27 The proportion <strong>of</strong> payments reta<strong>in</strong>ed (retention money) shall be 6% from each bill subject to a<br />
maximum <strong>of</strong> 5% <strong>of</strong> f<strong>in</strong>al contract price.<br />
[Cl.48]<br />
28 Amount <strong>of</strong> liquidated damages for Delay <strong>in</strong> completion <strong>of</strong> works [Cl.49]<br />
Milestone 1--- (1/200) <strong>of</strong> <strong>the</strong> 30 % cost <strong>of</strong> Initial Contract Price, rounded <strong>of</strong>f to <strong>the</strong><br />
nearest thousand, per day<br />
Milestone 2 --- (1/200) <strong>of</strong> <strong>the</strong> 35 % cost <strong>of</strong> Initial Contract Price, rounded <strong>of</strong>f to <strong>the</strong><br />
nearest thousand, per day<br />
Milestone 3 --- (1/200) <strong>of</strong> <strong>the</strong> 35 % cost <strong>of</strong> Initial Contract Price, rounded <strong>of</strong>f to <strong>the</strong><br />
nearest thousand, per day<br />
29 Maximum limit <strong>of</strong> liquidated damages for:<br />
delay <strong>in</strong> completion <strong>of</strong> work<br />
30 Deleted<br />
31 Deleted<br />
10 percent <strong>of</strong> <strong>the</strong> Initial Contract price<br />
rounded <strong>of</strong>f to <strong>the</strong> nearest thousand.<br />
[Cl.49]
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