Property_Manu - Final - The New India Assurance Co. Ltd.

The New India Assurance Co.Ltd.(19) Maintenance of site instructions book.(20) Procedure for arbitration.(21) Procedure for payment under escalation clause.TIME LIMIT :(1) Clear indication for recording the date of commencement and the date of completionshould be made.(2) Clear indication whether the time limit is inclusive or exclusive of monsoon should bemade.(3) Permissible extension in time limit without any extra compensation/penalty should beindicated.(4) Quantum of compensation/penalty to be imposed for further extension in time limit shouldbe indicated.(5) Maximum limit of compensation/penalty should be indicated.(6) Clarification about escalation in accepted tender rate either on account of material indexor labor index should be indicated, along with the basis being adopted for consideration.VARIATION IN QUANTITY :Generally, there should be no variation in quantities of executed items of work. But if thisoccur, the same should be explained by Contractor/ Architect/ Consulting Engineer &necessary permission of Chief Regional Manager/ Deputy General Manager/ GeneralManager needs to be obtained.(1) Extra items, if required, should be executed at the prevailing market rate. However, thequantum of such extra item executed should not exceed 15% of the sanctioned estimatedcost.(2) Deviation in specification will not be entertained except for compelling situations.CORRIGENDUM :(1) In case for any reason, there is a necessity to issue any corrigendum to the tender noticereleased earlier, for indicating changes, modifications etc. the same corrigendum mustappear in the same newspapers where the original tender notice had been published.(2) The intimation should be made available immediately to all the contractor who haveMANUAL ON ESTATE & ESTABLISHMENT115