CIVIL WORK - Government of Himachal Pradesh

The amounts of the advance payment are: [51]Nature of Advance Amount (Rs.) Conditions to be fulfilled1. Mobilization 5% of the Contract price On submission of un-conditional BankGuarantee.(to be drawn before end of 20% of Contractperiod)2. Equipment(This advance is notapplicable forequipment alreadyowned or hired/ leasedby the contractor.)90% for new and 50% ofdepreciated value for oldequipment. Total amountwill be subject to amaximum of 5% of theContract price.After equipment is brought to site as per agreedconstruction program (provided the Engineer issatisfied that the equipment is required forperformance of the contract) and on submissionof unconditional Bank Guarantee for amount ofadvance.3. Secured advance fornon- perishablematerials brought tosite75% of Invoice value orMarket value - lower of thetwo.a) The materials are in-accordance with thespecification for Works;b) Such materials have been delivered to site,and are properly stored and protected againstdamage or deterioration to the satisfaction ofthe Engineer. The contractor shall store thebulk material in measurable stacks.;c) The Contractor’s records of the requirements,orders, receipt and use of materials are keptin a form approved by the Engineer and suchrecords shall be available for inspection bythe Engineer;d) The contractor has submitted with hismonthly statement the estimated value of thematerials on site together with suchdocuments as may be required by theEngineer for the purpose of valuation of thematerials and providing evidence ofownership and payment thereof;e) Ownership of such materials shall be deemedvest in the Employer for which thehas submitted an Indemnity Bond in anacceptable format; andf) The quantity of materials are not excessiveand shall be used within a reasonable time asdetermined by the Engineer.(The advance payment will be paid to the Contractor no later than 15 days after fulfillment of the aboveconditions).Repayment of advance payment for mobilization and equipment: [51]The advance shall be repaid with percentage deductions from the interim payments certified by the Engineerunder the Contract. Deductions shall commence in the next Interim Payment Certificate following that inwhich the total of all such payments to the Contractor has reached not less than 15 percent of the ContractPrice or 3 months from the date of payment of first installment of advance, whichever period concludesearlier, and shall be made at the rate of 15 percent of the amounts of all Interim Payment Certificates untilsuch time as the entire advance is recovered before 80% payments of the total contract price are released,Contractor EE 67