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1. Mobilization advance - 5% of the contract price as interest free Mobilization Advance.

This advance shall be paid against a Bank Guarantee from any Nationalized Bank to
be furnished by the contractor. The Bank Guarantee furnished shall be valid up to
date of completion of entire work as stipulated in the contract with additional 3
months. The advance amount will be deducted on pro-rata basis from all running /
interim bills as mention in payment clause.
2. Materials like cement and steel, structural steel. Vouchers against Purchase of Steel
Reinforcements & Cement need be submitted periodically and at the time of final
reconciliation. Only Tor Reinforcements (TMT bars or equivalent) of mentioned grade
& Yield strengths can be used. Portland cement of mentioned grade & approved
brand can only be used subject to Manufacturer Test Certificates.
3. Initial security deposit 2% (in the form of DD) of total quoted price after adjustment
with already submitted EMD.
4. Further, 5% retention money towards the further security will be deducted from all
the interim bills including final bill subject to limit of 3% of the contract value. Thus the
total security deposit will be 5% of the contract value. The retention amount will be
released after defects liability period of one year from the date of issue of virtual
completion certificate from the consultants.
5. Taxes (Income Tax, WCT & Service Tax reverse charge etc.) as applicable shall be
deducted at source from RA Bills. Necessary certificates of taxes deducted amount
shall be issued to the Contractor by the Employer except for service tax deducted
under reverse mechanism. Apart from that Advance Money as per the payment
terms will be deducted from RA Bills.
6. On issue of Letter of Intent, the Contractors shall submit a Performance Bank
Guarantee in the approved pro-forma for due diligent compliance of Tender
conditions from a Nationalized Bank of amount equivalent to 5% of accepted
Tendered value valid till Defects Liability period is over after issue of final completion
certificate by Consultants. In case of the failure of the Contractors to execute the
work as specified in the tender/ construction or nonperformance of works/ part of
works/ malfunctioning of equipments/ materials etc. as specified in the tender and
bringing the same to Contractors notice by Consultants /Employers for rectification
and unresolved the same by the Contractor within a period 72 hrs from the time of
notification, the Employers shall be entitled to invoke the said Performance Bank
Guarantee without further reference to the Contractors.
7. The contractor shall in the joint name of Employer and the contractor insure against
loss or damage by fire, storm, tempest, lighting, flood, earthquake, aircraft or
anything dropped there from, serial objects, riot and civil commotion for the full
value thereof, all work executed and all unfixed materials and goods intended for,
delivered to and placed on or adjacent to the work but excluding temporary building,
plant, tools and equipment owned or hired by the contractor and shall keep such
work materials and goods so insured until completion of the work. Contractor shall
deposit with Employer the policy or policies and the receipts in respect of the
premium paid. Successful contractor shall also have to undertake necessary
Workmen Compensation Policy covering the labour force, which would be employed
at work.

8. Contractor shall also have to take out 3rd party insurance for an amount of Rs.
50,00,000/- for coverage of accident/s (No. of accident being unlimited). Contractor
shall not depute/deploy any personnel below the age of 18 years at the site and also
have to take CAR (Contractors All Risk Policy) of amount equivalent to the
contract value + 10% of the contract value with all necessary coverage. The policy shall
be endorsed in name of National Collateral Management Services Limited.
9.