Specifications

63
NLUO PMC CONTRACTOR
SIGNATURE AND SEAL SIGNATURE AND SEAL SIGNATURE AND SEAL
The contractor shall submit interim bills only after taking actual measurement and properly recorded in the
measurement Book.
The contractor shall not submit interim bills when the approximate value of work done by him less than 50
lacs and the minimum interval between two such bills shall be fifteen days.
The final bill may be submitted by contractor within a period of one month from the date of virtual
completion and Architect/ Consultant shall issue the certificate of payment within a period of two months.
The NLUO shall pay the amount within a period of three months from the date of issue of certificate
provided there is no dispute in respect of rates and quantities.
The contractor shall submit the interim bills in the prescribed format with all details.
PAYMENT TERMS & CONDITIONS :
Upto 85% of the total R.A. Bill submitted may be paid within 9 (nine) working days from the date of submission of R.A. Bills
subject to the approval of PMC & PD jointly. The balance payment deducting the necessary statutory dues shall be paid only
after complete verification of Bill by National Law University ODISHA / Project Management Consultant.
PERFORMANCE GUARANTEE :
The performance guarantee is 10% of the total contractor value which is submitted in form of Bank Guarantee from a
Nationalized Bank. Which is valid for 12 (twelve) months beyond the completion period which will be submitted with in the
15 days from the date of agreement as per the Performa enclosed.
39.0 Settlement of disputes and Arbitration.
i. Except where otherwise provided in the contract all questions and disputes relating to own connection with the
interpretation, execution or enforcement of the contract shall be refer to arbitration, abolition and conciliation Act 1996