Common use of INTEREST CLAUSE Clause in Contracts

INTEREST CLAUSE. In order to bring uniformity in all the contracts / agreements entered between BHEL and its contractors / vendors / suppliers / service providers etc., it is hereby advised to incorporate the following clause in all tenders and agreements. “No interest shall be payable by BHEL on ▇▇▇▇▇▇▇ money or security deposit or any money

INTEREST CLAUSE. In order to bring uniformity in all the contracts / agreements entered between BHEL and its contractors / vendors / suppliers / service providers etc., it is hereby advised to incorporate the following clause in all tenders and agreements. “No interest shall be payable by BHEL on ▇▇▇▇▇▇▇ money or security deposit or any moneymoney due to the contractor by BHEL.”