Common use of Rate Contract Clause in Contracts

Rate Contract. This is a Rate Contract wherein the price is fixed but the quantity to be supplied during the currency of this Rate Contract is not fixed and will be on as and when required basis. However, total estimated Off-take for the subject Rate Contract during the validity period of the RC (i.e. for Two Years from the date of issue of RC) will be Rs.1,03,75,248.00 (Rupees one crore three lakhs seventy five thousands tow hundred forty eight) only (Total Off-take Value for all DDO’s together). As soon as this limit of Rs.1, 03, 75,248.00 is reached, you must intimate to the office of the GM(MM) for further necessary action and you should not accept any further order from any DDO’s without specific clearance from the office of the GM(MM).

Rate Contract. This is a Rate Contract wherein the price is fixed but the quantity to be supplied during the currency of this Rate Contract is not fixed and will be on as and when required basis. However, total estimated Off-take for the subject Rate Contract during the validity period of the RC (i.e. for Two Years from the date of issue of RC) will be Rs.1,03,75,248.00 Rs.79,06,496.00 (Rupees one crore three seventy nine lakhs seventy five six thousands tow four hundred forty eightninety six) only (Total Off-take Value for all DDO’s together). As soon as this limit of Rs.1, 03, 75,248.00 Rs.79,06,496.00 is reached, you must intimate to the office of the GM(MM) for further necessary action and you should not accept any further order from any DDO’s without specific clearance from the office of the GM(MM).