Specifications

NLUO PMC CONTRACTOR

SIGNATURE AND SEAL SIGNATURE AND SEAL SIGNATURE AND SEAL

It is also a term of this contract that no person other than a person appointed by such National Law University Odisha,

kathajodi Campus, Cuttack - 753015, ODISHA as aforesaid should act as arbitrator.

The conciliation and arbitration shall be conducted in accordance with the provisions of the arbitration & Conciliation Act

1996 or any statutory modification or reenactment thereof and the rules made there under.

It is also a term of the contract that the arbitrator shall be deemed to have entered on the reference on the date he issues

notice to both the parties calling them to submit their statement of claims and counter statement of claims. The venue of the

arbitration shall be such place as may be fixed by the arbitrator in his sole discretion. The fees, if any, of the arbitrator shall ,

if required to be paid

before the award is made and published, be paid half and half by each of the parties. The cost of the reference and of the

award (including the fees, if any of the arbitrator) shall be in the discretion of the arbitrator who may direct to any by whom

and in what manner, such costs or any part thereof, shall be paid and fix or settle the amount of costs to be so paid.

NOTWITHSTANDING ANY THING CONTAINED HEREIN

1. Our liability under the Bank Guarantee shall not exceed Rs………..(Rs………..)

2. This Bank Guarantee shall be extended on receipt of letter for extension without getting confirmation from the contractor.

3. We are liable to pay the guaranteed amount or any part thereof, under this BG, only if you serve upon us a written claim or

demand within six months from the date of expiry of the guarantee or extended date of expiry of this guarantee, all our liability

under this BG shall stands discharged.

In witness whereof, we the undersigned official of the Bank who is /are duly authorized in this behalf as per the rules of the

Bank, hereby set my/our hand and seal to this ……day of …..