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

The New India Assurance Co.Ltd.(38) As such action of the Department should be as transparent as possible while decidingitems under deviation of specifications.(39) A continuous study of the work based on the quantum of work approved should be made tocheck whether the entire expenditure would be within the originally sanctioned cost.(40) The concerned authorities must be kept informed on all increases in work, from time totime.(41) Final Bill can be released only on obtaining revised sanction, if necessary, for the totalexpenditure based on final bill of contractor and professional expert .(42) If any deposits have been paid to local organizations for execution of work, like temporarydeposit for water connections, temporary deposit for power connection etc., the contractorshould arrange for refund of such deposits prior to releasing the retention money.(43) The retention money should be released to the contractor on expiry of defect liability periodon joint inspection of work along with the architect.(44) Release of retention money would be only after payment of Performance Guarantee Depositif required for the work.(45) The information should be displayed on the website of the Company.(46) If the work is in the category of quarterly reports, a copy of the report should be sent to theVigilance Dept. without fail.(47) If the work is on ‘threshold value’ category, one time information should be kept on websiteand updated during the process of execution (Normally works costing more than Rs.2lacs).(48) The site must be got cleared by the contractor before releasing the final bill.(49) If the work is costing more than Rs.1 crore for civil work while clearing the site, all thesamples, models, test reports, equipments, measurements etc. should be preserved at asuitable place to enable the Department for arranging such required details if the engineers0f CTE inspect the work.(50) Time limit is the essence of contract. There could be some delay during the actual executionon account of various reasons.(51) If the delay is on account of statutory requirements, the CM should grant extension in timelimit.MANUAL ON ESTATE & ESTABLISHMENT129