S No Concession Covenant

22 Mobilization Advance

23 Insurance Policies during

Operations
Important & Infor required
Details
§ NHAI to extend Mobilization advance of upto 10% of Bid Project
Cost after 60 days from Appointed Date
§ Interest Rate on Mob Advance @ applicable Bank Rate
compounded annually
§ Mobilization Advance shall be recovered as follows
25% from 1st annuity payment during construction
25% from 2nd annuity payment during construction
25% from 3rd annuity payment during construction
25% from 4th annuity payment during construction
Interest after 120 days from 4th annuity payment
Unlike other BOT concessions here the Insurance to be put in place
has been clearly specified to include
§ Loss, damage or destruction of Project Asset at
replacement value
§ Comprehensive third party liability
§ Concessionaire’s General Liability
§ Liability to 3rd parties for goods or property damage
§ Workmen compensation
§ Any other insurances