SAILESH NAIR & ASSOCIATES
- 61 -
BOB, ANKALAV BRANCH, DIST. ANAND
1, DEFENCE KARMACHARI HSG. SOC. NR. UNITED COLONY, B/H. NAVRACHANA HIGH SCHOOL, SAMA,
VADODARA – 390 008 TELE-FAX. 0265 2784382 MOB : 9898072813 / 9427602817
8.4.2.
CONTRACTOR’S LIABILITY AND INSURANCE
a) From commencement to completion of works, the Contractor
shall take full responsibility for the care of the work and for
taking precautions to prevent loss or damage to the work to
the maximum extent possible and shall be liable for any
damage or loss that may arise to the works or any part
thereof from any cause whatsoever including causes of fire,
lightening, explosion, fire, earthquake, storm, hurricane,
floods, inundation, subsidence, landslides, rock slides, riots
(excluding civil war, rebellion, revolution and insurrection) or
any latent defect or damage and shall at his own cost repair
and make good the same so that at all times the work shall
be in good order and condition and in conformity in every
respect with the requirements of the Contract.
Explanation: For the purpose of this condition, the expression
"from commencement to completion of works" shall mean the
period starting with the date of issue of the work order or date of
handing over of site whichever is later and ending with issue of
Virtual Completion Certificate. For the purpose of this Insurance
clause only, handing over of site shall also include any handing
over of space to the Contractor for the purpose of storage of
materials and equipment.
b) Without limiting the obligations and responsibilities under this
condition, the Contractor shall insure and keep insured the
works from commencement to completion, as aforesaid, as
increased by 25% of the contract value against the risk of
loss or damage from any cause whatsoever including the
causes enumerated in the foregoing Clause (a). In the event
of there being a variation in the nature and extent of the
works, the Contractor shall from time to time increase or
decrease the value of the insurance correspondingly. All the
premia for the insurance shall be borne and paid by the
Contractor. The said insurance shall also provide cover for
the removal of debris of the lost or damaged works. The said
insurance shall be in the joint names of the
Bank and the
Contractor,
Banks name being mentioned first in the policies
and the Contractor shall deposit with the
Bank the said
policy or Policies before commencing the work. All money
payable by the insurer under such Policy/Policies shall be
recovered by the
Bank only and may be paid to the
Contractor or any other agency of
Bank’s choice in the
installments for the purpose of rebuilding or replacing or
repairing the works and/or goods destroyed or damaged as
the case may be.
c) The Contractor shall at all times indemnify and keep
indemnified the
Bank against all losses, claims, damages or
compensation including under the provisions of the payment
of the Wages Act 1936, Minimum Wages Act 1948,
Bank’s
SAILESH NAIR & ASSOCIATES
- 62 -
BOB, ANKALAV BRANCH, DIST. ANAND
1, DEFENCE KARMACHARI HSG. SOC. NR. UNITED COLONY, B/H. NAVRACHANA HIGH SCHOOL, SAMA,
VADODARA – 390 008 TELE-FAX. 0265 2784382 MOB : 9898072813 / 9427602817
Liability Act 1938,Workman’s Compensation Act 1923,the
Maternity Benefit Act 1961,the Bombay Shops and
Establishments Act1947, Industrial Disputes Act 1947, and
Contract Labour (Regulation and Abolition) Act 1970 and
Employees State Insurance Act 1948, Motor Vehicles Act
1988 or any modifications thereof or under any other law
relating thereto and rules made there under from time to time
or as a consequence of any accident or injury to any
workman or other person in or about the work whether in the
employment of the
Bank or Contractor or not, and also
against all costs, charges and expenses of any suit, action or
proceedings whatsoever out of such accident or injury or
combination of any such claims.
d) Before commencing the work, the Contractor shall without
limiting his obligations and responsibilities under this
condition, insure against any loss of life or injury to any
personnel in the employment of Contractor / sub-Contractor /
nominated Sub-Contractor. For this purpose, an insurance
shall be taken by the Contractor /Sub-Contractor. Such
insurance shall be taken to include both, employees /
workmen covered by the Workman’s Compensation Act
1923, as well as those employees /workmen not covered by
the said Act. Separate insurance policies may be taken for
employees/work men covered by Workman’s Compensation
Act 1923, and employees/ workmen not covered by the said
Act. All the premia shall be paid by the Contractor.
Policy/Policies taken under this paragraph for the personnel
in employment with the Contractor/Sub-Contractor may be in
their
Bank’s
names
of
the
Contractor/Sub-
Contractor/nominated Sub-Contractors. In the event of any
loss or injury to personnel in employment with the
Contractor/Sub-Contractor/nominated Sub-Contractors, the
Employee and Contractor shall recover directly from the
Insurance Company and ensure that payment of the same is
made to the affected parties including the
Bank. The policy
in original shall be deposited with the
Bank. However, if the
Policy obtained by the Contractor is not project-specific but
covers several works, a certified copy of the Policy shall be
submitted to the
Bank, together with original which shall be
returned after verification.
e) The Contractor shall at all times indemnify and keep
indemnified the
Bank against all losses and claims for
injuries or damage to any person or any property whatsoever
which may arise out of or in consequence of the construction
and maintenance of the work and against all claims,
demands, proceedings, damages, costs, charges and
expenses whatsoever in respect of or in relation thereto.
Before commencing the execution of the works, the
Contractor shall without in any way limiting his obligations