Property_Manu - Final - The New India Assurance Co. Ltd.
Property_Manu - Final - The New India Assurance Co. Ltd.
Property_Manu - Final - The New India Assurance Co. Ltd.
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<strong>The</strong> <strong>New</strong> <strong>India</strong> <strong>Assurance</strong> <strong>Co</strong>.<strong>Ltd</strong>.xxii.xxiii.Tendered <strong>Co</strong>st : <strong>Co</strong>st of work at the rates quoted by the <strong>Co</strong>ntractor.Estimated cost:<strong>Co</strong>st of work estimated by the department initially to seek the approval of theAuthority for initiating the process of execution.xxiv.Administrative sanction:Approval of the <strong>Co</strong>mpetent Authority as per <strong>Co</strong>mpany’s financial standing order,for execution of work in financial terms.xxv.Technical sanctionApproval of the <strong>Co</strong>mpetent Authority as per the skill needed for the work forexecution of work in technical terms.Professional chargesCharges paid to the professionals like Project Management <strong>Co</strong>nsultant/Architect/Valuer/<strong>Co</strong>nsultant/Designer/Assessor/Advisor towards the technical servicesprovided by them.Powers to interpret/ relax/ modify provisions:If there be any difficulty in implementing the provisions of this procedure, the matter shall bereferred to the CMD, whose decision/ interpretation shall be final. <strong>The</strong> CMD may at his/ herdiscretion relax any of these requirements/ provisions, add, modify, change or alter theseprovisions as warranted by the circumstances.CVC Guidelines:<strong>The</strong> various guidelines issued by the CVC from time to time shall have an over-riding effect overthese provisions wherever applicable.HHHHH102 MANUAL ON ESTATE & ESTABLISHMENT
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