Project Implementation and Operations Sample Clauses

Project Implementation and Operations. Section 10.1 Procurement of Material, Equipment and Subcontractor (a) The Operator shall during the Construction Period, subject to the provisions of Clause (b) hereof, procure the materials, equipment and services and/or grant sub-contracts above a specified value, as decided by the Company, through a transparent competitive bidding process. (b) An Evaluation Committee will be constituted comprising of two representatives of the Company and one representative of the Operator. Such Evaluation Committee shall: (i) approve the procurement of all major equipments whose cost is to be borne by the Company, keeping in mind the technical specifications and comparative prices. (ii) approve the Contracts entered into by the Operator for procurement of materials, equipments not covered in (i) above, services and/or subcontracts etc (c) The decision of the Evaluation Committee shall be final and binding on the Operator (d) The Company may at its sole discretion waive the requirement of procurement process as mentioned in sub-clause (b) above in such manner as it deems fit.