Proposed Renovation of Former Jacinto Building - Clark Freeport Zone

7.6. In case of a reduction in the contract value or for partially completedWorks under the contract which are usable and accepted by theProcuring Entity the use of which, in the judgment of the implementingagency or the Procuring Entity, will not affect the structural integrity ofthe entire project, the Procuring Entity shall allow a proportionalreduction in the original performance security, provided that any suchreduction is more than ten percent (10%) and that the aggregate ofsuch reductions is not more than fifty percent (50%) of the originalperformance security.7.7. Unless otherwise indicated in the SCC, The Contractor, by enteringinto the Contract with the Procuring Entity, acknowledges the right ofthe Procuring Entity to institute action pursuant to Act 3688 againstany subcontractor be they an individual, firm, partnership, corporation,or association supplying the Contractor with labor, materials and/orequipment for the performance of this Contract.8. Subcontracting8.1. Unless otherwise indicated in the SCC, the Contractor cannotsubcontract Works more than the percentage specified in ITB Clause8.1.8.2. Subcontracting of any portion of the Works does not relieve theContractor of any liability or obligation under this Contract. TheContractor will be responsible for the acts, defaults, and negligence ofany subcontractor, its agents, servants or workmen as fully as if thesewere the Contractor’s own acts, defaults, or negligence, or those of itsagents, servants or workmen.8.3. Subcontractors disclosed and identified during the bidding may bechanged during the implementation of this Contract, subject tocompliance with the required qualifications and the approval of theProcuring Entity.9. Liquidated Damages9.1. The Contractor shall pay liquidated damages to the Procuring Entityfor each day that the Completion Date is later than the IntendedCompletion Date. The applicable liquidated damages is at least onetenth(1/10) of a percent of the cost of the unperformed portion forevery day of delay. The total amount of liquidated damages shall notexceed ten percent (10%) of the amount of the contract. TheProcuring Entity may deduct liquidated damages from payments due tothe Contractor. Payment of liquidated damages shall not affect theContractor. Once the cumulative amount of liquidated damagesreaches ten percent (10%) of the amount of this Contract, the49Clark Development CorporationSection IV General Conditions of ContractProposed Renovation of Former Jacinto Building(Motorpool, Records, Warehouses and Maintenance Area)