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7 Joint Venture
Two or three companies/contractors may jointly take
contract/contracts.
Each entity would be jointly responsible for completing the
task as per the contract.
24. Disputes
24.1 If the Contractor believes that a decision taken by the
Nodal Officer or his nominee was either outside the authority
given to the Nodal Officer or his nominee by the Contract or
that the decision was wrongly taken, the decision shall be
referred to the Conciliator within 28 days of the notification
of the Nodal Officer or his nominees decision.
B. TIME CONTROL
27. Program
27.1 Within the time stated in the Contract Data the
Contractor shall submit to the Nodal Officer or his nominee
for approval a Program showing the general methods,
arrangements, order, and timing for all the activities in the
Works along with monthly cash flow forecast.
27.2 An update of the Program shall be a program showing the
actual progress achieved on each activity and the effect of
the progress achieved on the timing of the remaining work
including any changes to the sequence of the activities.
43. Payments
43.1 Bills shall be prepared and submitted by the Contractor.
Joint measurements shall be taken continuously and need not
be connected with billing stage. System of 4 copies of
measurements, one each for Contractor, Employer and Nodal
Officer or his nominee, and signed by both Contractor and
Employer shall be followed
43.2 75% of bill amount shall be paid within 14 days of
submission of the bill. Balance amount of the verified bill
should be paid within 28 days of the submission of the bill.
48. Retention
48.1 The Employer shall retain from each payment due to the
Contractor the proportion stated in the Contract Data until
Completion of the whole of the Works.
48.2 Retention Money shall be deducted at 6% from Running
Bills subject to a max. of 5 percent of the contract price.
Retention money shall be refunded after issue of No defects
certificate. This amount can be substituted by on demand
Bank Guarantee.
59. Termination
59.1 The Employer or the Contractor may terminate the
Contract if the other party causes a fundamental breach of
the Contract.
59.2 Fundamental breaches of Contract include, but shall not
be limited to the following:
(a) the Contractor stops work for 28 days when no stoppage of
work is shown on the current Program and the stoppage has
not been authorised by the Nodal Officer or his nominee:
(b) the Nodal Officer or his nominee instructs the Contractor
to delay the progress of the Works and the instruction is not
withdrawn within 28 days.
(c) the Employer or the Contractor becomes bankrupt or goes
into liquidation other than for a reconstruction restructure or
amalgamation.