Common use of Effect of Change in Law Clause in Contracts

Effect of Change in Law. 20.1.1. Change in Law shall mean any change in taxes (excluding taxes on corporate income), duties, cess or introduction of any tax, duty, cess made applicable for supply of power by the Supplier, after the date of submission of bid. 20.1.2. The determination of compensation for any increase or decrease in expenses to the Supplier on account of Change in Law and the date from which such compensation shall become effective shall be decided by the Appropriate Commission, which shall be final and binding on both the Parties, subject to right of appeal provided under applicable Law. 20.1.3. The payment for Change in Law shall be through Supplementary Bills.

Effect of Change in Law. 20.1.1. Change in Law shall mean any change in taxes (excluding taxes on corporate income), duties, cess or introduction of any tax, duty, cess made applicable for supply of power by the Supplier, after the date of submission of bid. 20.1.2. The determination of compensation for any increase or decrease in expenses to the Supplier Seller on account of Change in Law and the date from which such compensation shall become effective shall be decided by the Appropriate Commission, which shall be final and binding on both the Parties, subject to right of appeal provided under applicable Law. 20.1.3. The payment for Change in Law shall be through Supplementary Bills.