CIVIL WORK - Government of Himachal Pradesh

33.2 The notification of award will constitute the formation of the Contract, subject only to thefurnishing of a performance security in accordance with the provisions of Clause 34.33.3 The Agreement will incorporate all agreements between the Employer and the successful Bidder.It will be signed by the Employer and kept ready for signature of the successful bidder in theoffice of employer within 28 days following the notification of award along with the Letter ofAcceptance. Within 21 days of receipt, the successful Bidder will sign the Agreement and deliverit to the Employer.33.4 Upon the furnishing by the successful Bidder of the Performance Security, the Employer willpromptly notify the other Bidders that their Bids have been unsuccessful.34. Performance Security34.1 Within 21 days of receipt of the Letter of Acceptance, the successful Bidder shall deliver to theEmployer a Performance Security in any of the forms given below for an amount equivalent to 5%of the Contract price plus additional security for unbalanced Bids in accordance with Clause 29.5of ITB and Clause 52 of Conditions of Contract:- a bank guarantee in the form given in Section 8; or- Bank draft, in favour of Executive Engineer, Chopal Division, HPPWD Chopal, payableat Chopal.34.2 If the performance security is provided by the successful Bidder in the form of a Bank Guarantee,it shall be issued either (a) at the Bidder's option, by a Nationalized/Scheduled Indian bank or (b)by a foreign bank located in India and acceptable to the Employer or (c) by a foreign bank througha correspondent Bank in India [scheduled or nationalized].34.3 Failure of the successful bidder to comply with the requirements of sub-clause 34.1 shallconstitute a breach of contract, cause for annulment of the award, forfeiture of the bid security,and any such other remedy the Employer may take under the contract, and the Employer mayresort to awarding the contract to the next ranked bidder.35 Advance Payment and Security35.1 The Employer will provide an Advance Payment on the Contract Price as stipulated in theConditions of Contract, subject to maximum amount, as stated in the Contract Data.36. Adjudicator36.1 The Employer proposes that Sh. S.P Negi (Retd. ENC) be appointed as Adjudicator under theContract, at a daily fee of Rs.2500 plus reimbursable expenses as admissible to the grade I officerof HP Govt. If the Bidder disagrees with this proposal, the Bidder should so state in the Bid. If inthe Letter of Acceptance, the Employer has not agreed on the appointment of the Adjudicator, theAdjudicator shall be appointed by Secretary General , Indian Roads Congress New Delhi at therequest of either party.37. Fraud and Corruption:37.1 It is the Bank’s policy to require that Borrowers (including beneficiaries of Bank loans), as well asBidders, Suppliers, and Contractors and their subcontractors under Bank-financed contracts,observe the highest standard of ethics during the procurement and execution of such contracts 1 . Inpursuance of this policy, the Bank:(a) defines, for the purposes of this provision, the terms set forth below as follows :(i) “corrupt practice” 2 is the offering, giving, receiving or soliciting directly or indirectly, ofanything of value to influence improperly the actions of another party;1 In this context, any action taken by a bidder, supplier, contractor, or a sub-contractor to influence theprocurement process or contract execution for undue advantage is improper.2 “another party” refers to a public official acting in relation to the procurement process or contractexecution]. In this context, “public official” included World Bank staff and employees of otherorganizations taking or reviewing procurement decisions.Contractor EE 20