Hiring Of Consultants - Milestone/Deliverable Based - Appointment Of Independent Engineer For Establishment Of 400 KV AIS Sakoli Under TBCB; As Per Rfp; No; Hybrid(As Specified In Scope Of Work)

OPTION CLAUSE 25% : The buyer can increase or decrease the contract quantity or contract duration up to 25 percent at the time of issue of the contract. However, once the contract is issued, the contract quantity or contract duration can only be increased up to 25 percent. Bidders are bound to accept the revised quantity or duration. For lumpsum-based service contracts, the buyer may increase the scope of work and contract value up to 25 percent with the consent of the service provider

Bidder financial standing: The bidder should not be under liquidation, court receivership or similar proceedings, should not be bankrupt. Bidder to upload undertaking to this effect with bid.

Buyer Added text based ATC clauses The successful Bidder to whom the work is awarded shall be required to furnish a Contract Performance sec urity in favour of the Employer as Annexure-A to this Conditions of Contract. The Contractor shall, withi n Fifteen (15) days from the date of Letter of Award/Notice of Award, provide a Performance Guarantee in lie u of Security Deposit, in the form of an irrevocable and unconditional Bank guarantee for the due performan ce of the Contract, for an amount equivalent to Ten percent (10%) of the total Contract Price (incl. GST) in a ccordance with the terms and conditions specified in the contract and in the RfP document. The contract per formance guarantee shall be valid till the expiry of Ninety (90) days beyond scheduled date of final accepta nce of work (i.e. till date of expiry of validity of Contract), from a bank acceptable to the owner, as per Claus e 34.3 below. However, if the contract period is extended then the validity of the Contract Performance Guar antee is to be correspondingly extended by the Consultant. .

Buyer uploaded ATC document Click here to view the file.