Lucknow Document

7/27/2019 Lucknow Document

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for making and publishing the award.

Upon every or any such reference, the cost of an incidental to the reference and award respectivelyshall be in discretion of the arbitrator, who shall be

competent to determine the amount thereof ordirect the same to be taxed as between solicitor andclient or as between party and to direct by whomand to whom and in what manner the same shall beborne and paid.

Work under the contract shall if reasonablypossible, continue during the Arbitration proceedingsand no payments due or payable by the Corporationshall be withheld on account of such proceedings.

32. The contract shall in all respect beconstructed and operated as a Contract as defined inthe Indian Contract Act, 1872, and all payments thereunder shall be made in rupees unless otherwisespecified.

33. The marginal note to any clause of thiscontract shall not affect or control construction of such clause.

Arbitration

ion :: Lucknow; Uploading Date And Time ::Thursday, September 26, 2013

Construction of Contract

Marginal notes

FORM OF AGREEMENT

(REFERRED TO IN CLUASE-3)

THIS AGREEMENT made on the day of 2011 BETWEEN(hereinafter referred to as “the Contractor”) of the one part AND the U.P.Power Corporation Ltd. (hereinafter called “Purchaser”) of the part.

WHEREAS the Purchaser is about to erect and maintain the …………………(hereinafter called” the work”) and for the purpose requires the plants and machinerymentioned and specified in certain general conditions, Specification, Schedules,Drawings, Form of tender, covering letter and schedule of price which, for the purposeof identification, has been signed by.On behalf of the Contractor and ……………………………………………….(the Engineer or the Purchaser) on behalf of the Purchaser and all of which are deemedto form part of this Contract as though separately set out herein and are included in theexpression “Contract” whenever herein used.

AND WHEREAS THE Purchaser has accepted the tender of the Contractor for thesupply and delivery of the said plant machinery for sum of …………………………………………..upon the terms and subject to the conditionshereinafter mentioned.

NOW THESE PRESENT WITNESS and the parties hereto hereby agree and declareas follows, that is to say, in consideration of payment to be made to the Contractor bythe purchaser as hereinafter mentioned the contractor shall and willfully provide the saidplant and machinery for the said works on the terms and conditions mentioned in thecontract.

AND in consideration of the due provisions of the said plant and machinery by thecontractor and due performance of this part of the contract, the purchaser does herebyfor himself, his successors or assigns convenant with the Contractor that he (thePurchaser), his successors or assigns will pay to the contractor the said sumof………………………….. or such other sum as may become payable to the Contractor under the provision of this Contract, such payments to be made at such time and insuch manner as in provided in this contract.IN WITNESS WHEREOF, the Parties here to have signed this Deed hereunder on thedates respectively mentioned against the signature of each.

(Signed) (Signed)(for and of behalf of the Purchaser) (Contractor)

(date) (date)

In the presence of In the presence of

(date) (date)

PROFORMA OF GUARANTEE BOND FOR SECURITY DEPOSIT(To be used by approved Scheduled Bank)

In consideration of the U.P. Power Transmission Corporation Limited, Lucknow (hereinaftercalled “the Corporation”) having agreed to exempt………………………………………. (herein after called the

“The Contractors”) from the demand under the term and conditions of agreementdated……………………………………..made between ……………………………………..and ………………………………………………………………………….(herein after called ‘the said Agreement”) of security deposit for thedue fulfillment by the said contractor (s) on the terms and conditions contain in the said agreement,on production of a Bank Guarantee for Rs……………………………………..Rupees…………………………..only).

We ………………………………….……..Bank Ltd., ( hereinafter referred to as “the bank”) do herebyundertake to pay to the Corporation an amount not exceeding Rs…………………………………………..againstany loss or damage caused to or suffered or would be caused to or suffered by the Corporation byreasons of any breach by the said contractor (s) of any of the terms or conditions contained in the saidAgreement.

2. We…………………………………..Bank Ltd., do hereby undertake to pay the amount due and payableunder this guarantee without any demur, merely on a demand from the Corporation stating that theamount claimed is due by way of loss or damage caused to or would be caused to or suffered by theCorporation by reason of any breach by the said contractor (s) of any of the terms or conditionscontain in the said agreement or by reason of the contractor (s) failure to perform the said agreementany such demand made on the bank shall be conclusive as regards the amount due and payable by thebank under this guarantee. However, our liability under this guarantee shall be restricted to anamount not exceeding Rs…………………..

3. We ………………………………….Bank Ltd., further agree that the guarantee herein contained shallremain in full force and effect during the period that would be taken for the performance of the saidAgreement and that it shall continue to be enforceable till all the dues of the Corporation under or byvirtue of the said Agreement have been fully paid and its claims satisfied or discharged or till theCorporation or their duly authorized officer certified that the terms and conditions of the saidagreement have been fully and properly carried out by the contractor (s) and accordingly dischargesthe guarantee. Unless a demand or claim under this grantee is made on us in writing on orbefore…………………………………………. We shall be discharged fro m all liability under this guaranteethereafter.

4. We………………………….Bank Ltd., further agree with the Corporation that the Corporation shallhave the fullest liberty without our consent and without effecting in any manner our obligationshereunder to very any of the terms and conditions of the said Agreement or to extend time of performance by the said contractor (s) for time to time or to post pone for any time or from time totime any of the powers exercisable by the Corporation against the said contractor (s) and to fore bearor enforce any of the terms and conditions relating to the s aid Agreement and we shall not berelieved from our liability by reason of any such variation, or extension, or extension being granted to

the said contractor (s) or for any forbearance, act or omission on the part of the Corporation or anyindulgences by the Corporation to the said contractor (s) or by any such matter or things whatsoeverwhich under the law relating to sureties would but for this provision have effect of so relieving us.

5. We …………………………………Bank Ltd., lastly undertake not to revoke this guarantee during its

currency except with the previous consent of the Corporation in writing.

6. Not withstanding anything contained above, the liability of the guarantor hereunder isrestricted to the said sum of Rs. ……………………………………..and this guarantee shall expire onthe…………………day of 2011 . Unless a claim under the guarantee is filed with the guarantor with sixmonths of such date, all claim shall lapse and the guarantor shall be discharged from the guarantee.

Dated…………day of………...2011

For………………Bank Ltd.,

PROFORMA FOR PERFORMANCE BANK GUARANTEE

U.P. POWER TRANSMISSION CORPORATION LTD.

THIS DEED OF GUARANGEE made on the ……………………day of …………………..by the……………………….(herein after called “the Guarantor”) of the one part IN FAVOUR of the U.P.PowerTransmission Corporation Limited( herein after called “the purchaser” ) of the other part WHEREAS inaccordance with the contract agreement dated the…………dayof……………….2011…………………………….(hereinafter called “the said Contract”) entered into betweenthe purchaser and Messers,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,, a Company within the meaning of the companies Act& having its registered office at ………………………………………..(hereinafter called “the Contractor” ) thecontractor agrees to supply to the purchaser ……………….the as provided in the said contract.

AND WHEREAS the payment terms under the said Contract provide that in order to take 100 paymentof the contract value the Contractor shall furnish to the Purchaser a Bank Guarantee in the sum of 10% value of each consignment dispatched valid for …………………………….. and reckoned from thedate……………………………………….

AND WHEREAS instead of furnishing separate guarantees as aforesaid the Contractor wishes tofurnish one guarantee in the sum of 10 % value of the Contract valid for ………………………………….. andreckoned from the date……………………………………….

NOW THIS DEED WITHNESS AS FOLLOWS

1. In consideration of the premises the Guarantor hereby undertakes that the contractor shallduly supply the aforesaid material of the correct quantity and strictly in accordance with the saidcontract failing which the guarantor shall pay to purchaser on demand such amount or amounts as theguarantor may be called upon to pay to the maximum aggregate of Rs………………………………… being10% or the contract value .

2. The Guarantor shall pay to the Purchaser on demand the sum under clause 1 abovewithout demur and without requiring the purchaser invoke any legal remedy that may be availableto it to compel the guarantor to pay the same or to compel such performance by the contractor.Provided that where the guarantor considered the demand of the purchaser unjustified, shallnevertheless pay the same though under protest to the purchaser and shall not withhold payment on

that account.

3. This guarantee shall come into force from the date hereof and shall remain validfor………………calendar months from the date of the ……………………………………of the a consignment of goods dispatched which dated of dispatch according to contract is the …………………………..day of ………………………………if , however, the period of the contract is for any reason extended thereby

extending the said date, and upon such extension, if the contractor fails to furnish a fresh or renewedBank Guarantee for the extended period, Guarantor shall pay to the Purchaser the said sum of Rs.……………………or such lesser sum as the purchaser may demand.

4. The guarantee herein contained shall not be affected by any change in the constitution of

the Guarantor or of the Contractor.

5. Any account settled between the contractor and the Purchaser shall be conclusive evidenceagainst the Guarantor on the amount due and shall not be questioned by the Guarantor.

6. The neglect or forbearance of the Purchaser in enforcement of payment of any moneys thepayment where of is intended be here by secured or the giving of time by the Purchaser for thepayment there of shall in no way relieve the Guarantor of its liability under this deed.

7. The Purchaser and the contractor will be at liberty to carry out any modifications in the saidcontract during the terms of the said contract and extension thereof, notice of which modification to

the Guarantor is hereby waived.

8. The expressions ‘ The Purchaser’ ‘The Guarantor’ and ‘The Contractor’ shall unless there byany thing refulgent to the subject or context include their respective successors and assigns.

9. Not withstanding any thing contained above, the liability of the Guarantor hereunder isrestricted to the said sum of Rs…………………………………………….and this guarantee shall be expire on the………………………..day of …………………………19………unless claim under the guarantee is field within sixmonths of such dates, all claim shall laps and the guarantor shall be discharged from the guarantee.

IN WITNESS HEREOF

For and on behalf of guarantor has signed this deed, on the day and year first above written.

Witness :

1. ……………………………………………

Signed by

• …………………………………………..For and on behalf of the Guarantor

……………………………………………….

FORM OF BANK GUARNATEE

(For depositing earnest money in case the amount for deposit exceeds Rs.5,000.00)

U.P.Power Transmission Corporation Limited, Lucknow.

Sir, WHEREAS, Messers……………………………………….a company incorporated under theIndian Companies Act, its registered office at ……………………………../a firm registered under theIndian Partnership Act and having its business office at ………………………………..son of ………………………..resident of ………………………………….carrying on business under the firm’s nameand style of Messers………at………../Sri……………………son of……………………………..residentof……..at……………………./Sri ……Son of…………………………………… ………………..resident……………………………………../Sri ………………………..son of ………………….resident

……………of………………………partners carrying on business under the firm’s name and style of Messers ………………at………..which is a registered partnership ( hereinafter called “The Tenderer”)has have in response to your Tender Notice against specification number ………………………for……………………….offered to supply and /or execute the works as contained in the Tenderer’sletter No. ……………………………….

AND WHEREAS the Tenderer is required to furnish you a Bank guarantee for the sum of Rs…………………………………………..as earnest money against the tenderer’s offer as aforesaid:

AND WHEREAS We ………………………………….(name of the bank ) , have, at the request of thetenderer agree to give you his guarantee as hereinafter contained:

NOW THEREFORE, in consideration of the promises We, the undersigned , herebyconvenant that the aforesaid tender of the tenderer shall remain open for acceptance by youduring the period of validity as mentioned in the tender or any extension thereof as you and thetenderer may subsequently agree and if the tenderer shall, for any reason back our, whetherexpressly or impliedly, from his said tender during the period of its validity or any extensionthereof as aforesaid we hereby guarantee to you the payment of the sum of Rupees……………………..on demand , notwithstanding the existence of any dispute between the

U.P.P.T.C.L and the Tenderer in this regard AND We hereby further agree as follows

• That you may without affecting this guarantee grant time or other indulgence to ornegotiate further with the Tender in regard to the conditions contained in the said tender andhereby modify these conditions or add there to any further conditions as may be mutuallyagreed upon between you and the Tenderer.

• That the guarantee herein before contained shall not be affected by any change inthe constitution of our Bank or in the constitution of the Tenderer.

• That any account settled between you and the Tenderer shall be conclusiveevidence against us of the amount due here under and shall not be questioned by us.

• That this guarantee commencer from the date hereof and shall remain in force tillthe tenderer, If his tender is accepted by you, furnishes the security as required under the saidspecifications and executes a formal agreement as therein provided or (till four months after theperiod of validity) or the extended period of validity, as the case may be, of tender, whichever isearlier.

• That the expressions “the Tenderer” and “The Bank” and “the U.P.P.T.C.L”. Hereinused shall, unless such inter-pretation is repugnant to the subject or context, include their

respective successors and assigns.

Yours faithfully

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