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

The New India Assurance Co.Ltd.(2) If the payment is on stage basis, a drawing showing the stages for releasing the paymentshould be made and displayed in the site office..(3) For all major works a sign board should be installed furnishing the essential details aboutthe work viz. name of the work, duration of execution, date of commencement, estimateddate of completion, name of the contractor, name of the professional expert, name of theofficer -in-charge, telephone numbers of the officer- in-charge at site.(4) If the contractor is entitled for grant of mobilization advance and has requested for thesame, mobilization advance should be released upto 25% of the accepted tender costagainst submission of Irrevocable Bank Guarantee executed for an equal amount from areputed nationalised bank operating in the proximity of the office and entering intomobilization advance agreement wherein compensation for delayed execution is outlined.(5) Actual date of commencement of work must be kept on record.(6) A set of approved materials along with sample of such materials should be available in thesite office.(7) If the contractor requests for material advance, it can be considered by the CM based onthe recommendations of the architect provided:-(a) The materials which are actually required for the execution of work has been brought.(b)(c)The material is of approved qualityThe quantity is of approved estimated quantity(d) The advance will not exceed 75% of actual purchase cost. (e) The contractor willinsure and ensure materials at site.(8) Once in a week Manager of the Dept./architect/contractor along with the site-in-charge/engineer should jointly inspect work.(9) Wherever necessary, the materials should be got tested from the appropriate testinglaboratories and reports are kept in the site office.(10) The method adopted for making payment to the workers/laborers by the contractor shouldbe outlined and notified in the site office.(11) As the work progresses, based on the quantum of work, running account payment shouldbe released to the contractor, based on the recommendations of the architect.126 MANUAL ON ESTATE & ESTABLISHMENT