SAILESH NAIR & ASSOCIATES
- 71 -
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
9.6.
TERMINATION OF THE CONTRACT BY THE CONTRACTOR:
9.6.1.
If payment of the amount payable by the
Bank under the
Certificates of the
Architect with interest as provided for
hereinafter shall be in arrears and unpaid for thirty days after
notice in writing requiring payment of the amount with
interest as aforesaid shall have been given by the Contractor
to the
Bank (or if the Bank interferes with or obstruct issue
of any such Certificates), or the
Bank commits any ‘Act of
Insolvency’, or if the
Bank being an individual, or firm shall
be
adjudged
insolvent
or
(being
an
incorporated
company)shall have an order made against it or pass an
effective resolution for winding up either compulsorily or
subject to the supervision of the court or Voluntarily, or if the
official Assignee of the
Bank being an individual, or firm shall
be adjudged insolvent or (being an incorporated company)
shall have an order made against it or pass an effective
resolution for winding up either compulsorily or subject to the
supervision of the court or Voluntarily, or if the official
Assignee of the
Bank shall repudiate the Contract, or if the
Official Assignee or the Liquidator in any such winding up
fails within fifteen days after notice to him requiring him to do
so, to show to the reasonable satisfaction of the Contractor
that he is able to carry out and fulfill the Contract and to
make all payments due, and to become due hereunder and
if required by the Contractor, to give security for the same, or
if the works be stopped for three months under an order of
the
Architect or the Bank or by any injunction or other
orders of any court of law, then and in any of the said cases
the Contractor shall be at liberty to determine the Contract by
notice in writing to the
Bank, through the
Architect, and he
shall be entitled to recover from the
Bank payment for all
works executed and for any loss he may sustain upon any
plant or material supplied or purchased or prepared for the
purpose of the Contract.
9.6.2.
In arriving at the amount of such payment, the net rates
contained in the Contractor’s original tender shall be
followed, or where the same may not apply, valuation shall
be made in accordance with “Prices for Extras, etc.
Ascertainment thereof”.
9.7.
FORECLOSURE OF CONTRACT IN FULL OR IN PART:
9.7.1.
If at any time after acceptance of the tender the
Bank /
Architect shall decide to abandon or reduce the scope of the
works for any reasons whatsoever and hence not require the
whole or any part of the works to be carried out he shall
inform the Contractor in writing to that effect and the
Contractor shall have no claim to any payment or
compensation or otherwise whatsoever, on account of any
profit or advantage which he might have derived from the
SAILESH NAIR & ASSOCIATES
- 72 -
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
execution of the works in full but which he did not derive in
consequence of the foreclosure of the whole or part of the
works.
9.7.2.
The Contractor shall be paid at the Contract rates full amount
for woks executed at site, and in addition, reasonable
amount as Certified by the
Architect for the value of such
material (which material shall thereupon become the
property of the
Bank) and also such further allowances as
the
Architect may think reasonable and fair in respect of (a)
any expenditure incurred by the Contractor towards
preliminary works etc. and (b) other reasonable and proper
engagement the Contractor may have entered into for
carrying out the work.
10.
COMPLIANCE
10.1. COMPLIANCE TO BANK’S/LEGAL NORMS
10.1.1.
NOTICES
a) The Contractor shall give all notices and pay all fees and
shall comply with all Acts and Regulations for the successful
completion of the Contract works.
10.1.2.
AUTHORITIES,
NOTICES,
PATENTS,
RIGHTS
&
ROYALTIES: The Contractor shall conform to the provisions
of all the statutes relating to the works, and to the
Regulations and bye laws of any local Authority, and of any
Water, Lighting, Electric supply, and of other Companies or
Authorities with whose systems the structure is proposed to
be connected, and shall before making any variation from the
drawings or specifications that may be necessitated by so
confirming, give to the
Architect written notice, specifying
the variations proposed to be made and the reason for
making it, and apply for instruction thereon. In case the
Contractor shall not within 10 days receive such instructions,
he shall proceed with the work conforming to the provision or
Regulations or Byelaws in question.
a) The Contractor shall bring to the attention of the
Architect all
notices required by the said Acts, Regulations or Bye-laws to
be given to any Authority by the
Bank or the Architect and
pay to such Authority, or to any public Officer, all fees that
may be properly chargeable in respect of the works, and
lodge the receipts with the
Architect.
b) The Contractor shall indemnify the
Bank against all claims in
respect of patent rights, design, trade marks of name or
other protected rights in respect of any constructional site,
machine work or material used for or in connection with the
works or temporary works and against all claims, demands,
proceedings, damages, costs, charges and expenses
whatsoever in respect thereof or in relation thereto. The
Contractor shall defend all actions arising from such claims,