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

The New India Assurance Co.Ltd.(52) If the delay is on account of contractor, in arranging material, labor, equipment, machinery,fixtures, fittings et c. and the same is within 5% of time limit or l5 days the same can beapproved by the Manager based on the recommendations of the architect.(53) If the delay is more than 15 days, but less than 45 days, the same can be approved by theChief Manager.(54) If the delay is more than 45 days, extension in time limit as requested by the contractor canbe considered by the DGM /GM either (a) without imposing any compensation forextension in time limit based on the realistic compelling prevailing situation or (b) maygrant extension with compensation.(55) Quantum of such compensation should not exceed 25% of security deposit. If the contractorfails to execute the work even after the grant of Extension in Time Limit with the impositionof fine by giving Notice, the contract depending upon the situation may be terminated andthe security deposit should be forfeited. Fresh tenders may be invited for execution ofbalance work.(56) During execution of work approved by the competent authority, no further works should beincluded along with the main project, being sanctioned by other executives of lower cadrefrom their financial authority.(57) If there is a necessity to execute some minor work within the authority of other executives,the same should be done only after execution of the main work by the contractor andsettlement of his final bill.HHHHH130 MANUAL ON ESTATE & ESTABLISHMENT