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    Uploaded by

    mohamedheikaltb
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    The unit prices shall apply to any additions or deletions to the approved bill of quantities. Unit prices will remain valid until the completion of the defect liability period. Variations will not apply unless there are changes to tender drawings or specifications. Payment terms include 5% advance payment with a bank guarantee, with the balance paid via 120 day post-dated cheques including 70% on material delivery, 10% on installation, 10% on testing and commissioning, and 5% on project handover. The subcontractor is fully responsible for executing the job per specifications and project requirements, and must deliver to the site within 8-10 weeks of the purchase order.

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    The unit prices shall apply to any additions or deletions to the approved bill of quantities. Unit prices will remain valid until the completion of the defect liability period. Variations will not apply unless there are changes to tender drawings or specifications. Payment terms include 5% advance payment with a bank guarantee, with the balance paid via 120 day post-dated cheques including 70% on material delivery, 10% on installation, 10% on testing and commissioning, and 5% on project handover. The subcontractor is fully responsible for executing the job per specifications and project requirements, and must deliver to the site within 8-10 weeks of the purchase order.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Payment Terms

    Uploaded by

    mohamedheikaltb
    The unit prices shall apply to any additions or deletions to the approved bill of quantities. Unit prices will remain valid until the completion of the defect liability period. Variations will not apply unless there are changes to tender drawings or specifications. Payment terms include 5% advance payment with a bank guarantee, with the balance paid via 120 day post-dated cheques including 70% on material delivery, 10% on installation, 10% on testing and commissioning, and 5% on project handover. The subcontractor is fully responsible for executing the job per specifications and project requirements, and must deliver to the site within 8-10 weeks of the purchase order.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    The unit prices shall be applicable for any addition/deletion in the quantity as per engineered

    and approved BOQ. The unit prices shall be valid till the completion of defect liability period.
    Any variation will not be applicable unless there is any change in tender drawings and
    specifications.

    2. PAYMENT TERMS:
    The payment terms are as follows
    1. 5% Advance Payment against submission of Advance Bank guarantee.
    Balance shall be paid via 120 days PDC as per following break up

    2. 70% against Material delivery. PDC shall be handed over at the time of delivery of
    material along with original documents mentioned in clause 13.

    3. 10% against Installation. Installation report signed by the Project Consultants/ end client
    to be provided along with invoice
    4. 10% against testing and commissioning of BMS. Testing and commissioning report
    signed by the Project Consultants/ end client to be provided along with invoice.
    5. 5% against project handover against submission of Handover certificate issued by
    project Consultants/ end client. If required this payment can be released at completion
    of testing and commissioning against submission of Performance bank guarantee for
    10% of the order value Advance bank guarantee and performance bank guarantee shall
    be in Contractors format

    3. RESPONSIBILITY:
    SUBCONTRACTOR shall be fully responsible to execute the job as per Tender Specification
    and inline to project requirement.

    4. DELIVERY SCHEDULE:
    Delivery at site NMC Hospital. Abu Dhabi shall be made within 8-10 weeks from the date of
    Purchase order.
    Subcontractor shall submit a micro schedule based on the above dates and the mobilization
    plan within one week from the date of LOI.
    SUBCONTRACTOR is deemed to have allowed in th

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