Common use of Deliverables and Payment Schedule Clause in Contracts

Deliverables and Payment Schedule. The deliverables and payments shall be as defined below: 4.1 The contractor will be paid on completion of the dredging work on the basis of quantity dredged measured in-situ and established through pre-dredge and post dredge survey. The pre-dredging surveys of the dredging sites have been carried out. However both pre and post-dredging survey shall be carried out jointly with the Contractor, IWAI and KoPT. Interim surveys as may be required in every 7-10 days shall be carried out to ascertain the progress of work. 4.2 Final survey will be carried out on date of completion. Payment will be made on the depth available on that date as compared to the pre-dredge survey before the commencement of work. No interim payment will be made. The computation of the dredged volume will be done on the basis of pre dredging, interim and post dredging survey, on which payment shall be released to the Contractor. 4.3 On completion of the satisfactory work, the contractor shall submit the bill/invoice along with detailed calculation sheet of quantity dredged supported by certified pre- dredge & post-dredge survey charts. 4.4 The bidder must submit their Bank Account No. with E.C.S. facilities along with bill for payment. 4.5 The total Contract Price payable under the Contract shall be stipulated in the Letter of Award and thereupon shall become part of this Contract and be paid in accordance with the terms mentioned in the Contract document. 4.6 No escalation on any account during the period of the Contract will be applicable. 4.7 The Contractor shall submit the compiled daily dredging log certified by EIC The daily log shall contain the following information: First Date of Dredging. Second Dredge Area. Third Start and stop timings of dredging operation. Fourth Dredging done (in terms of quantity).

Deliverables and Payment Schedule. The deliverables and payments shall be as defined below: 4.1 The contractor will be paid on completion of the dredging work on the basis of quantity dredged measured in-situ and established through pre-dredge and post dredge survey. The pre-dredging surveys of the dredging sites have been carried outout by KoPT on behalf of Govt. However both pre of West Bengal and the post-dredging survey shall be carried out jointly with the Contractor, IWAI and KoPT. Interim surveys as may be required in every 7-10 days shall be carried out to ascertain the progress of work. 4.2 Final survey will be carried out on date of completionby 10th January, 2016. Payment will be made on the depth available on that date as compared to the pre-dredge survey before the commencement of work. No interim payment will be made. The computation of the dredged volume will be done on the basis by KoPT and certified by Govt. of pre dredging, interim and post dredging survey, West Bengal based on which payment shall be released to the ContractorContractor either by Govt. of West Bengal directly or through IWAI. 4.3 On completion of the satisfactory work, the contractor shall submit the bill/invoice along with detailed calculation sheet of quantity dredged supported by certified pre- dredge & post-dredge survey charts. 4.4 The bidder must submit their Bank Account No. with E.C.S. facilities along with bill for payment. 4.5 The total Contract Price payable under the Contract shall be stipulated in the Letter of Award and thereupon shall become part of this Contract and be paid in accordance with the terms mentioned in the Contract document. 4.6 No escalation on any account during the period of the Contract will be applicable. 4.7 The Contractor shall submit the compiled daily dredging log certified by EIC The daily log shall contain the following information: First  Date of Dredging. Second  Dredge Area. Third  Start and stop timings of dredging operation. Fourth  Dredging done (in terms of quantity).