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the reimbursement in full or in part as the case may be, shall be met, at the
option of the purchaser from out of all or any of the following sources viz:
i) Any amount due and payable to the contractor by the purchaser on any account
whatsoever;
ii)
The Contractor's security deposit in hands of the purchaser as far as available
and any other assets whatsoever of the contractor;
In the event of re-imbursement from out of sources (i) and/or (ii) above
mentioned, the purchaser shall have the right of appropriation suo-moto.
35. LIQUIDATED DAMAGES AND TOKEN PENALTY :
35.1 If the contractor fails to execute and complete the work within the time
specified in the Agreement or within the period of extension granted except in
so far as the delay is on the purchaser’s account, the contractor shall be levied
Liquidated Damages at the rate of 1/2% per week or part thereof the entire
contract value of the work awarded to the contractor for delays in supply /
execution of the work as per General Conditions of Contract, 1969 for the
North Central Railway Engineering department with up to date modifications.
For the purpose of this clause, the contract value of the works shall be taken as
value of work as per contract agreement including any supplementary work
order/contract agreement issued. Provided also, that the total amount of
liquidated damages under this condition, shall not exceed the under noted
percentage value or of the total value of the item or groups of items of work
for which a separate distinct completion period is specified in the contract.
(i) For contract value up to Rs.2 lakh – 10% of the total value of the contract.
(ii) For contracts valued above Rs.2 lakh –10% of the first Rs.2
lakh and the 5% of the balance.
Provided further, that if the Railway is not satisfied that the works can be
completed by the Contractor and in the event of failure on the part of the
contractor to complete the work within further extension of time allowed as
aforesaid, the Railway shall be entitled, without prejudice to any other right or
remedy available in that behalf, to appropriate the contractor’s security
deposit and rescind the contract under clause 62 of these conditions, whether
or not actual damage is caused by such default.
35.2 If such a failure as aforesaid shall have arisen from any cause which the
Purchaser may agree as being a reasonable ground for extension of time, the
railway may allow such additional time as it may in its absolute discretion
consider to be reasonably justified by the circumstances of the case. The
contractor will apply for extension at least one month before the expiry of the
period of completion. In case extension is on Purchaser’s account and also in
Signature of contractor Page 71 of 104 Dy CSTE/Proj/IRPMU/CNB