Common use of Work Completion Clause in Contracts

Work Completion. The Contract period for the subject work is 24 months. Date of start of the contract period will be mentioned in the Letter of Intent . . Time is of essence of this contract. If Completion of Work is not adhered to as stipulated in the contract or the contractor abandons the work then GMDC shall be at liberty to execute the work at Contractor’s risk and cost and if thereby any extra expenditure is involved, the same shall be debited to Contractor’s account. If GMDC is unable to execute and complete the work from alternate source in time and if GMDC suffers any consequential loss, Contractor will have to bear the same. GMDC in that case will forfeit the security deposit and will also have the right to recover from the contractor the amount towards damages suffered by GMDC. Generally the Monsoon period will be considered from 15th June to 15th September. During this period if contractual work suffers thereon then extension of time limit may be considered and for which no liquidated damages shall be liviable and in such case the certificate issued by Project Authority showing the reasons for suffering the works is required to be submitted and which will considered as final for time limit extension. . If rain occurs before or after the above mentioned period and the contractual work suffers thereon, then extension of time limit may be considered and for which no liquidated damages shall be leviable. . In such case the certificate issued by Project Authority showing the reasons for suffering the works is required to be submitted and which will considered as final for time limit extension 5) Validity. Validity of the offer submitted by the bidder shall be of 180 days from the date of opening of the Price Bid and if required by the GMDC, the Bidder will have to extend the validity of price bid unconditionally for a further period of 30 days.

Work Completion. The Contract period for the subject work is 24 months. Date of start of the contract period will be mentioned in the Letter of Intent . . Time is of essence of this contract. If Completion of Work is not adhered to as stipulated in the contract or the contractor abandons the work then GMDC shall be at liberty to execute the work at Contractor’s risk and cost and if thereby any extra expenditure is involved, the same shall be debited to Contractor’s account. If GMDC is unable to execute and complete the work from alternate source in time and if GMDC suffers any consequential loss, Contractor will have to bear the same. GMDC in that case will forfeit the security deposit and will also have the right to recover from the contractor the amount towards damages suffered by GMDC. Generally the Monsoon period will be considered from 15th June to 15th September. During this period if contractual work suffers thereon then extension of time limit may be considered and for which no liquidated damages shall be liviable leviable and in such case the certificate issued by Project Authority showing the reasons for suffering the works is required to be submitted and which will considered as final for time limit extension. . If rain occurs before or after the above mentioned period and the contractual work suffers thereon, then extension of time limit may be considered and for which no liquidated damages shall be leviable. . In such case the certificate issued by the Project Authority showing the reasons for suffering the works is required to be submitted and which will considered as final for time limit extension 5) Validity. Validity of the offer submitted by the bidder shall be of 180 days from the date of opening of the Price Bid and if required by the GMDC, the Bidder will have to extend the validity of price bid unconditionally for a further period of 30 daysextension.