S No Concession Covenant

15 Price Index

16 Annuity payment during

Construction

17 Bonus on Completion
Details
§ Sum of 70% of applicable WPI + 30% of applicable CPI
§ CPI as published by Labour Bureau, GOI
§ WPI as published by Office of Economic Advisors
§ 40% of Bid Project Cost shall be paid in 5 equal installments each
of 8% of Bid Project Cost adjusted for Price Index

§ Payment will be made at the following milestones certified by IE

P Milestone 1 = 20% Physical Progress

P Milestone 2 = 40% Physical Progress
P Milestone 3 = 60% Physical Progress
P Milestone 4 = 75% Physical Progress
P Milestone 5 = 90% Physical Progress
§ Bonus shall be applicable for completion of work more than 30
days prior to COD
§ Bonus will be 0.5% of 60% of Bid Project Cost per month
§ Bonus shall be payable with the first Annuity payment