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Page 1 CONDITIONS OF CONTRACT Clause-1 Security deposit. this will be the same percentage as that tender at (d) of Pre-page: The person/persons whose tender may be accepted (hereinafter called contractor) shall deposit an amount equal to ten percent of the estimated cost of the work with the Executive Engineer (Earnest money shall be accounted for as per memorandum) within 10 days of the acceptance of the tender by way of security deposit, in case of a default, the earnest money already lying with the Executive Engineer shall stand absolutely forfeited to the MUNICIPAL CORPORATION, YAMUNANAGAR-JAGADHRI. or his successor in office and the contract, shall stand terminated or in the alternative at the discretion of the Engineer-in charge, the contractor may be required to permit MUNICIPAL CORPORATION, YAMUNANAGAR-JAGADHRI. at the time of making any payment to him for the work done under the contract to deduct such sum as will (with the earnest money deposit by him) amount of 10% of all money payable. Such deductions to be held by MUNICIPAL CORPORATION, YAMUNANAGAR- JAGADHRI. by way of security deposit. All compensation or other sums of money payable by the contractor to MUNICIPAL CORPRA-TION, YAMUNANAGAR-JAGADHRI. under the terms of this contract may be deducted from his security deposit or from any sums which may be due or become due to the contractor by MUNICIPAL CORPORATION, YAMUNANAGAR-JAGADHRI. on any account whatsoever, and in the event of his security deposit or from any sums which may be due or become due to the contractor by MUNICIPAL CORPORATION, YAMUNANAGAR-JAGADHRI. on any account whatsoever, and in the event of his security deposit being reduced by reason of any such deduction the contractor shall within 10 days thereafter make good in cash as aforesaid any sum or sums may have been deducted from his security deposit or any part thereof. Clause-2 Compensation of delay: The time allowed for carrying out the works as entered in the tender shall be strictly observed by the contractor and shall be reckoned from the date on which the order to commence work is given to the contractor. The work shall through out the stipulated period of the contract be proceeded with all due diligence (time being deemed to be the essence of the contract on part of the contractor) and the contractor shall pay as compensation an amount of the equal to one percent which the Executive Engineer-in-charge may levy on the amount of the estimated cost of the whole work as shown by the tender for everyday that the work remains uncommenced or unfinished, after the proper dates. And, further to ensure good progress during the execution of the work, the contractor shall be bound in all cases in which the time allowed for any work exceeds one month, to complete one fourth of the whole of the work before one fourth of the whole time allowed under the contact has elapsed; one half of the work, before one half of such time has elapsed; and three-fourth of the work, before three- fourth of such time has elapsed. In the event of the contractor failing to comply with this condition, he shall be liable to pay as compensation an amount equal to one percent which the Engineer-in-charge may levy on the said estimated cost of the whole work for everyday that the due quantity of work remains incomplete; provided always that the entire amount of compensation to be paid under the provision of this clause shall not exceed ten percent on the estimated cost of work as shown in the tender. The Superintending Engineer MUNICIPAL CORPORATION, YAMUNANAGAR-JAGADHRI. may on representation from the contractor reduce the amount of compensation and his decision in writing shall be final. Clause-3 Action when whole of security deposit is forfeited In any case in which under any clause or clauses of this contract the contractor shall have rendered himself liable to pay any compensation to the Executive Engineer

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