REQUEST FOR QUOTATION - GAIL (India)

General Conditions of Contract27.3 Bonus For EarlyCompletion (*)27.3 BONUS FOR EARLY COMPLETIONIf the Contractor achieves completion of Works in all respect priorto the time schedule stipulated in the SCC, the Employer shallpay to the Contractor the relevant sum, if mentioned specificallyin SCC, as bonus for early completion. The bonus for earlycompletion, if provided specifically in SCC, shall be payable tothe maximum ceiling of 2 ½ % of the total contract price.(*) Partial earlier completion may not always produce netbenefits to the Employer, for example where utilization of thecompleted Works requires (a) the fulfillment of all parts of theContract (e.g. the training of personnel); or (b) thecompletion of all Sections (e.g. in pipeline laying, where earlycompletion of the laying of pipeline would not be useful if thecompressor is still under installation); or (c) certain seasonaleffects to take place (e.g. onset of the rainy season, forimpounding a reservoir); or (d) other circumstances. Also amore rapid drawdown of budgeted funds may be required.All such factors should be considered prior to the inclusion ofa bonus clause in the Contract.28 Rights of the employer toforfeit contractperformance security:28.1 Whenever any claim against the CONTRACTOR for the paymentof a sum of money arises out or under the CONTRACT, theEMPLOYER shall be entitled to recover such sum byappropriating in part or whole the Contract Performance Securityof the CONTRACTOR. In the event of the security beinginsufficient or if no security has been taken from theCONTRACTOR, then the balance or the total sum recoverable,as the case may be shall be deducted from any sum then due orwhich at any time thereafter may become due to theCONTRACTOR. The CONTRACTOR shall pay to theEMPLOYER on demand any balance remaining due.29 Failure by the contractorto comply with theprovisions of thecontract:29.1 If the CONTRACTOR refuses or fails to execute the WORK orany separate part thereof with such diligence as will ensure itscompletion within the time specified in the CONTRACT orextension thereof or fails to perform any of his obligation underthe CONTRACT or in any manner commits a breach of any ofthe provisions of the CONTRACT it shall be open to theEMPLOYER at its option by written notice to the CONTRACTOR:a) TO DETERMINE THE CONTRACT in which event theCONTRACT shall stand terminated and shall cease to be inforce and effect on and from the date appointed by theEMPLOYER on that behalf, whereupon the CONTRACTORshall stop forthwith any of the CONTRACTOR's work then inprogress, except such WORK as the EMPLOYER may, inwriting, require to be done to safeguard any property or WORK,or installations from damage, and the EMPLOYER, for its part,may take over the work remaining unfinished by theCONTRACTOR and complete the same through a freshcontractor or by other means, at the risk and cost of theCONTRACTOR, and any of his sureties if any, shall be liable tothe EMPLOYER for any excess cost occasioned by such workhaving to be so taken over and completed by the EMPLOYERover and above the cost at the rates specified in the schedule ofquantities and rate/prices.20