Common use of Sanctions for Violations Clause in Contracts

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened.

Appears in 12 contracts

Sources: Turnkey Contract, Turnkey Contract, Full Turnkey Contract

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-the (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (viv) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recession and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (viivi) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viiivii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ixviii) In cases where irrevocable Letters Forfeiture of Credit have been received Performance ▇▇▇▇ in respect case of any contract signed a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 5.1(i) to (viii) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of 5.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 10 contracts

Sources: Integrity Pact, Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (viv) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recession and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (viivi) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viiivii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ixviii) In cases where irrevocable Letters Forfeiture of Credit have been received Performance ▇▇▇▇ in respect case of any contract signed a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 5.1(i) to (viii) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 10 contracts

Sources: Pre Contract Integrity Pact, Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following followings actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government Uranium Corporation of India Limited for a minimum period of five years, which may be further extended at the discretion of the BUYERUCIL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 9 contracts

Sources: Tender Document, Tender Agreement, Tender Document

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 9 contracts

Sources: Full Turnkey Contract, Full Turnkey Contract, Full Turnkey Contract

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERPRINCIPAL, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission recession and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India CSL for a minimum period of five yearsas deemed appropriate, which may any be further extended at the discretion of the BUYERPRINCIPAL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the PRINCIPAL to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be binding on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 6 contracts

Sources: Integrity Pact, Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-pre – contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, BUYER and in case incase of an Indian BIDDER with interest thereon there on at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid afore said sum and interest. (v) To encash en cash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman middle man or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact al soon the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 5 contracts

Sources: Agreement for Setting Up of Low Temperature Thermal Desalination Plant, Agreement for Setting Up of Low Temperature Thermal Desalination Plant, Agreement for Setting Up of Low Temperature Thermal Desalination Plant

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required :- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and/ or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(S) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 5 contracts

Sources: Integrity Pact, Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERPRINCIPAL, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission recession and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India CSL for a minimum period of five yearsas deemed appropriate, which may any be further extended at the discretion of the BUYERPRINCIPAL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the PRINCIPAL to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be binding on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 5 contracts

Sources: Integrity Pact, Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions herein contained by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-/SELLER (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. However, the proceedings with the other BIDDER(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) would continue. (ii) The . To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (iv) . To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/SELLER /CONTRACTOR from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. The BUYER shall also be entitled to recover the replacement costs from BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER and the BIDDER. The BIDDER /SELLER /CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (vii) . To debar the BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, the same shall not be opened. x. Forfeiture of The Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. xi. The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. The BIDDER/SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. 7.2. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1 (i) to (xi) of this Pact, also in the event of commission by the BIDDER/ SELLER/CONTRACTOR/SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined In Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER/SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER/SELLER /CONTRACTOR. However, the BIDDER/SELLER/ CONTRACTOR/ SERVICE PROVIDER can approach the Independent External Monitor(s) appointed for the purposes of this Pact.

Appears in 4 contracts

Sources: Pre Contract Integrity Pact, Pre Contract Integrity Pact, Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, signed without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five two years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sthe BIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 7.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption ▇▇▇ ▇▇▇▇ or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor(s) appointed for the purposes of this Pact.

Appears in 3 contracts

Sources: Integrity Pact, Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recession and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened.

Appears in 3 contracts

Sources: Pre Contract Integrity Pact, Pre Contract Integrity Pact, Pre Contract Integrity Pact

Sanctions for Violations. 6.1 5.1. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle of the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (( in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (( after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash en-cash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India NALCO for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %. higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall shall· be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre contract negotiations without assigning any reason or and without giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue, unless the BUYER desires to drop the entire process. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Base Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government BUYER or any of India its Subsidiaries for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid paid, in violation of this Pact Pact, by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters Forfeiture of Credit have been received Performance Bond in respect case of any contract signed a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. (x) Intimate to the CVC, IBA, RBI, as the BUYER deemed fit the details of such events for appropriate action by such authorities. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 5.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required :- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Annual Maintenance Contract, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions provision by the BIDDER TENDERER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERTENDERER) shall entitle the BUYER CORPORATION to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDERTENDERER. However, the proceedings with the other BIDDER(sTENDERER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER CORPORATION and the BUYER CORPORATION shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDERTENDERER. (iv) To recover all sums already paid by the BUYERCORPORATION, and in case of an Indian BIDDER TENDERER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER TENDERER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER TENDERER from the BUYER CORPORATION in connection with any other contract for any other stores, such outstanding /work suchoutstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDERTENDERER, in order to recover the payments, already made by the BUYERCORPORATION, along with interest. (vi) To cancel all or any other Contracts with the BIDDERTENDERER. The BIDDER TENDERER shall be liable to pay compensation for any loss 'or damage to the BUYER CORPORATION resulting from such cancellation/rescission and the BUYER CORPORATION shall be entitled to deduct the amount so payable from the money(s) due to the BIDDERTENDERER. (vii) To debar the BIDDER TENDERER from participating in future bidding processes of the Government of India CORPORATION for a minimum period of five years, which may be further extended at the discretion of the BUYERCORPORATION. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sTENDERER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER CORPORATON with the BIDDERTENDERER, the same shall not be opened., (x) Forfeiture of Performance Bond in case of a decision by the CORPORATION to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The CORPORATION will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the TENDERER or any one employed by it or acting on its behalf (whether with or without the knowledge of the TENDERER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. The decision of the CORPORATION to the effect that a breach of the provisions of this Pact has been committed by the TENDERER shall be final and conclusive on the TENDERER. However, the TENDERER can approach the independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Annual Maintenance Contract, Annual Maintenance Contract

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions herein contained by the BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) /SELLER /CONTRACTOR/SERVICE PROVIDER shall entitle the BUYER to take all or any one of the following actions, wherever required:-required. (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However/SELLER /CONTRACTOR/SERVICE PROVIDER shall entitle the BUYER to take all or any one of the following actions, the proceedings with the other BIDDER(s) would continue.wherever required:- (ii) The To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER/SELLER /CONTRACTOR/SERVICE PROVIDER. (iv) To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/ SELLER/CONTRACTOR/SERVICE PROVIDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. The BUYER shall also be entitled to recover the replacement costs from BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (v) To encash the advance bank guarantee and performance bond/warranty bondBond, if furnished by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER and the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellationcompensation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (vii) To debar the BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sbyBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) In cases where irrevocable irrecoverable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, the same shall not be opened. (x) Forfeiture of the Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. (xi) The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss or damage to the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. 7.2. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1(i) to (xi) of this Pact, also in the event of commission by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3. The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER/SELLER/CONTRACTOR shall be final and conclusive on the BIDDER/SELLER/CONTRACTOR. However, the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER can approach the Independent External Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Pre Contract Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 7.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, signed without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five two years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sthe BIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 7.2 The BUYER will be entitled to take all or any of the actions mentioned at para 7.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption ▇▇▇ ▇▇▇▇ or any other statute enacted for prevention of corruption. 7.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, actions wherever required:-required. (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and / or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest Interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a the BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in In order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(smoney (s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India SPMCIL for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this the Pact by ▇▇▇▇▇▇(sBIDDER(S) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) of an offence as defined in Chapter IX of the Indian penal Code 1860 or prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor (s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERPRINCIPAL, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission cancellation / recession and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India CSL for a minimum period of five yearsas deemed appropriate, which may any be further extended at the discretion of the BUYERPRINCIPAL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the PRINCIPAL to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be binding on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions herein contained by the BIDDER BIDDER/SELLER /CONTRACTOR/SERVICE PROVIDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) /SELLER/CONTRACTOR/SERVICE PROVIDER shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) required:- To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. However, the proceedings with the other BIDDER(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) would continue. (ii) The . To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) therefor. To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) /SELLER/CONTRACTOR/SERVICE PROVIDER. To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/SELLER /CONTRACTOR from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) . The BUYER shall also be entitled to recover the replacement costs from BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER . To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER and the BIDDER. The BIDDER /SELLER /CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) /SELLER/CONTRACTOR/SERVICE PROVIDER. To debar the BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, the same shall not be opened. Forfeiture of The Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. The BIDDER/SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1 (i) to (xi) of this Pact, also in the event of commission by the BIDDER/ SELLER/CONTRACTOR/SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined In Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER/SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER/SELLER /CONTRACTOR. However, the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER can approach the Independent External Monitor(s) appointed for the purposes of this Pact. The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER undertakes that it has not supplied/is not supplying similar product/systems or subsystems/services at a price lower than that offered in the present bid to any other Bank or PSU or Government Department or to any other organization/entity whether or not constituted under any law and if it is found at any stage that similar product/systems or sub systems/services was supplied by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER to any other Bank or PSU or Government Department or to any other organization/entity whether or not constituted under any law, at a lower price, then that very price, with due allowance for elapsed time, will be applicable to the present case and the difference in the cost would he refunded by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER to the BUYER, if the contract has already been concluded.

Appears in 2 contracts

Sources: Integrity Pact, Pre Contract Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) 5.1.1 To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) 5.1.2 The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) 5.1.3 To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) 5.1.4 To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Base Rate of State Bank of IndiaBaroda, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) 5.1.5 To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) 5.1.6 To cancel all or any other Contracts with the BIDDER. The BIDDER shall shall· be liable to pay compensation for any loss '·or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) 5.1.7 To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) 5.1.8 To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) 5.1.9 In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. 5.1.10 Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER . However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Integrity Pact, Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit Forfeiture of the Security Bid Bond (in pre-contract stage) and/or Performance Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER bidder from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Security Deposit in case of a decision by the BYUER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 2 contracts

Sources: Rate Contract for Supply of Consumable Items, Rate Contract

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) 5.1.1 To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) 5.1.2 The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract5.1.3 Baroda Apex Academy, if already signed, without giving any compensation to the BIDDER.Gandhinagar (iv) 5.1.4 To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Base Rate of State Bank of IndiaBaroda, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) 5.1.5 To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) 5.1.6 To cancel all or any other Contracts with the BIDDER. The BIDDER shall shall· be liable to pay compensation for any loss '·or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) 5.1.7 To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) 5.1.8 To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) 5.1.9 In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. 5.1.10 Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER . However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Comprehensive Annual Maintenance Contract

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions herein contained by the BIDDER BIDDER/ SELLER / CONTRACTOR/ SERVICE PROVIDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDERBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER. However, the proceedings with the other BIDDER(sBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER(s) would continue. (ii) The . To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and/ or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDERBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER. (iv) . To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/ Financial Institution) while in case of a BIDDER BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/ SELLER/ CONTRACTOR from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. The BUYER shall also be entitled to recover the replacement costs from BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDERBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER and the BIDDER/ SELLER / CONTRACTOR/ SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDERBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER. (vii) . To debar the BIDDER BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDERBIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER, the same shall not be opened. x. Forfeiture of The Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. xi. The BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER. The BIDDER/ SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER. 7.2. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1 (i) to (xi) of this Pact, also in the event of commission by the BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined In Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER/SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER/ SELLER/ CONTRACTOR. However, the BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER can approach the Independent External Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 7.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Earnest Money Deposit (in pre-contract stage) and/or Security Retention Money Deposit/Security Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other With another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee Earnest Money Deposit and performance bondPerformance Bond/warranty bondWarranty Bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact 7.2 The BUYER will be entitled to take all or any of the actions mentioned at paragraph 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Annual Service Contract for Housekeeping Services

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER BIDDER/CONSULTANT or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER/CONSULTANT) shall entitle the BUYER REC to take all or any one of the following actions, wherever required:-required: - (i) 6.1.1. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/CONSULTANT. However, the proceedings with the other BIDDER(s) would continue.proceedings (ii) 6.1.2. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER REC and the BUYER REC shall not be required to assign any reason therefore. (iii) 6.1.3. To immediately cancel the contract, if already signed, without giving any givingany compensation to the BIDDER. (iv) 6.1.4. To recover all sums already paid by the BUYERREC, and in case of an the Indian BIDDER BIDDER/CONSULTANT with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER BIDDER/CONSULTANT from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER REC in connection with any other contract for contractfor any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) 6.1.5. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/CONSULTANT, in order to recover the payments, already made by the BUYERRECL, along with interestwithinterest. (vi) 6.1.6. To cancel all or any other Contracts contracts with the BIDDERtheBIDDER/CONSULTANT. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER REC resulting from such cancellation/rescission and the BUYER REC/PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/CONSULTANT. (vii) 6.1.7. To debar the BIDDER BIDDER/CONSULTANT from participating in future bidding processes of the Government of India REC/PRINCIPAL for a minimum period of five years, which may be further extended at the discretion of the BUYERREC. (viii) 6.1.8. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇BIDDER/CONSULTANT (s) to any middleman middlemen or agent or broker with a broken witha view to securing the contract. (ix) 6.1.9. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER REC with the BIDDER/CONSULTANT, the same shall not be opened. 6.1.10. Forfeiture of performance ▇▇▇▇ in case of a decision by the REC to forfeit the same without assigning any reason for imposing for sanctionfor violation of this pact 6.2 The REC will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x)of this Pact also on the Commission by the BIDDER/CONSULTANT or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/CONSULTANT), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the REC to the effect that a breach of the provisions of thispact has been committed by the BIDDER/CONSULTANT shall be final and conclusive on the BIDDER/CONSULTANT. However, the BIDDER/CONSULTANT can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether Whether with or without the knowledge of the BIDDER) shall entitle be entitled the BUYER to take all or any one anyone of the following actionsaction, wherever required:- (i1) To immediately call off of the pre contract negotiations negotiation without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii2) The ▇▇▇▇▇▇▇ Money Deposit (money deposit ( in pre-pre contract stage) and/or Security Depositstage )and / or security deposit/Performance Bond (after performance bound(after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign assigned any reason therefore. (iii3) To immediately cancel cancelled the contract, if already signed, signed without giving any compensation to the BIDDER. (iv4) To recover all sums some already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% two(02) percent higher than the prevailing Prime Lending Rate prime lending rate of State Bank state bank of India, India while in case of a BIDDER from a country other than India with interest thereon at 2% (02) two percent higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other storesstore, such outstanding payment could also be utilized to recover the aforesaid sum some and interest. (v5) To encash the advance bank guarantee and performance bond/warranty bond / warrantee bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi6) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission cancellation/ recession and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii7) To debar the BIDDER from participating in future bidding processes of the Government Govt of India for a minimum period of five yearsyear, which may be further extended at the discretion of the BUYER. (viii) 8) To recover all sums paid in violation of this the Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix9) In cases where irrevocable Letters whereirrevocable letters of Credit credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (10) Forfeiture of performance bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(1) to (10) of this Pact also on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter 9 of the Indian Penal code, 1860 or Prevention of corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDEER shall be final and conclusive on the BIDDER. However, this BIDDER can approach the independent Monitor(s) appointed for the purposes of this pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-the (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (viv) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recession and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (viivi) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viiivii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ixviii) In cases where irrevocable Letters Forfeiture of Credit have been received Performance Bond in respect case of any contract signed a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 5.1(i) to (viii) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of 5.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (( i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(sBIDDER( s) would continue. (( ii) The ▇▇▇▇▇▇▇ Money Deposit (( in pre-contract stage) and/or and/ or Security Deposit/Deposit/ Performance Bond (( after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (( iii) To immediately im mediat ▇▇▇ cancel the contract, if already signed, without giving any compensation to the BIDDER. (( iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If I f any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (( v) To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (( vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (( vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (( viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(( s) to any middleman or agent or broker with a view to securing the contract. (( ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened.

Appears in 1 contract

Sources: Partial Turnkey Contract

Sanctions for Violations. 6.1 5.1. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER (AIIMS, GUWAHATI) to take all or any one of the following actions, wherever required:-required: - (i) A. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) B. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER (AIIMS, GUWAHATI) and the BUYER (AIIMS, GUWAHATI) shall not be required to assign any reason therefore. (iii) C. To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER/CONTRACTOR. (ivD. The BIDDER/CONTRACTOR shall be liable to pay compensation for any loss or damage to AIIMS, GUWAHATI resulting from such cancellation/recission and AIIMS, GUWAHATI shall be entitled to deduct the amount so payable from the money(s) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interestBIDDER/CONTRACTOR. (v) E. To encash the advance bank guarantee Bank Guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERBUYER (AIIMS, GUWAHATI), along with interest. (vi) F. To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER (AIIMS, GUWAHATI) resulting from such cancellation/rescission and the BUYER (AIIMS, GUWAHATI) shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) G. To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER.BUYER (AIIMS, GUWAHATI) (viii) H. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) I. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER (AIIMS, GUWAHATI) with the BIDDER, the same shall not be opened. J. Forfeiture of Performance Bond in case of a decision by the BUYER (AIIMS, GUWAHATI) to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERBUYER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond Security (after the contract is signedSigned) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason thereforethereof. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums sum already paid by the BUYER, and in case of an Indian BIDDER BIDDER, with interest thereon at 2% higher than the prevailing Prime prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes (v) of the Government of India RIPANS for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent External Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions herein contained by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-/SELLER (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. However, the proceedings with the other BIDDER(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) would continue. (ii) The . To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (iv) . To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/SELLER /CONTRACTOR from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. The BUYER shall also be entitled to recover the replacement costs from BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER and the BIDDER. The BIDDER /SELLER /CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (vii) . To debar the BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, the same shall not be opened. x. Forfeiture of The Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. xi. The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. The BIDDER/SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. 7.2. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1 (i) to (xi) of this Pact, also in the event of commission by the BIDDER/ SELLER/CONTRACTOR/SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined In Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER/SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER/SELLER /CONTRACTOR. However, the BIDDER/SELLER/ CONTRACTOR/

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) required:- To immediately call off the pre contract negotiations CONTRACT without assigning any reason or giving any compensation to the BIDDER. However, Forfeiture of the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Performance Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYERPRINCIPAL, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) . To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) PRINCIPAL. To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) CONTRACT. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:-required: (i) 6.1.1 To immediately call off the pre contract negotiations CONTRACT without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or 6.1.2 Forfeiture of the Performance Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) 6.1.3 To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) 6.1.4 To recover all sums already paid by the BUYERPRINCIPAL, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) 6.1.5 To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) 6.1.6 To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) 6.1.7 To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYERPRINCIPAL. (viii) 6.1.8 To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contractCONTRACT. (ix) 6.1.9 In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. 6.1.10 Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6.1.1 to

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following followings actions, wherever required:-required: - (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason reason, therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India Indian Rare Earths Limited for a minimum period of five years, which may be further extended at the discretion of the BUYERIREL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions provision by the BIDDER [A] or anyone employed any one employer by it or acting on its behalf (whether with or without the knowledge of the BIDDER) [A] shall entitle the BUYER CLIENT to take all or any one of the following actionsaction, wherever required:- (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER[A]. However, the proceedings proceeding with the other BIDDER(sBIDDER (s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security and /or security Deposit/Performance performance Bond (after the contract [B] is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER CLIENT shall not be required to assign any reason therefore. (iii) To immediately cancel the contract[B], if already signed, without giving any compensation to the BIDDER[A]. (iv) To recover all sums already paid by the BUYERCLIENT, and in case of an Indian BIDDER [A] with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER [A] from a the country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER [A] from the BUYER in CLIENT connection with any other contract for any other stores[B], such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, [A] in order to recover the payments, already made by the BUYERCLIENT, along with interest. (vi) To cancel all or any other Contracts with the BIDDER[A]. The BIDDER [A] shall be liable to pay compensation for any loss 'or damage to the BUYER CLIENT resulting from such cancellation/rescission and the BUYER CLIENT shall be entitled to deduct the amount so payable from the money(smoney (s) due to the BIDDER[A]. (vii) To debar the BIDDER [A] from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYERCLIENT. (viii) To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(s) [A] to any middleman or agent or broker with a view to securing [B] the contract. (ix) In cases case where irrevocable Letters of Credit have been received in respect of any contract signed [B] singed by the BUYER CLIENT with the BIDDER, [A] the same shall not be opened. (x) Forfeiture of performance ▇▇▇▇ in case of a decision by the CLIENT to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The CLIENT will entitled to take all or any the actions mentioned at para 6.1(1) to (x) of this pact also on the commission by the [A] or any one employed by it or acting on the its behalf (whether with or without the knowledge of the [A] of an offence as defined in chapter IX of the Indian penal code, 1860 or prevention of Corruption Act., 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the CLIENT to the effect that a breach of the provisions of this pact has been committed by the [A] shall be final conclusive on the [A]. However, the [A] can approach the independent Monitor(s) appointed for the purposes of this pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actionsaction, wherever required:- (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To ▇▇▇. ▇▇ immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the paymentspayment, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of o the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters Letter of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of the Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the India Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been omitted by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER bidder/consultant or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERbidder/seller/consultant) shall entitle the BUYER REC to take all or any one of the following actions, wherever required:-required: - (i) To ▇.▇.▇. ▇▇ immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDERbidder/consultant. However, the proceedings with the other BIDDER(s) would continue.proceedings (ii) 6.1.2. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER REC and the BUYER REC shall not be required to assign any reason therefore. (iii) To ▇.▇.▇. ▇▇ immediately cancel the contract, if already signed, without giving any givingany compensation to the BIDDER. (iv) To ▇.▇.▇. ▇▇ recover all sums already paid by the BUYERREC, and in case of an the Indian BIDDER bidder/consultant with interest thereon at 2% higher than the thanthe prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER bidder/consultant from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER REC in connection with any other contract for contractfor any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To ▇.▇.▇. ▇▇ encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDERbidder/consultant, in order to recover the payments, already made by the BUYERRECL, along with interestwithinterest. (vi) To ▇.▇.▇. ▇▇ cancel all or any other Contracts contracts with the BIDDERthebidder/consultant. The BIDDER bidder shall be liable to pay compensation for any loss 'or damage to the BUYER REC resulting from such cancellation/rescission and the BUYER REC/PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDERbidder/consultant. (vii) To ▇.▇.▇. ▇▇ debar the BIDDER bidder/consultant from participating in future bidding processes of the Government of India REC/PRINCIPAL for a minimum period of five two years, which may be further extended at the discretion of the BUYERREC. (viii) To ▇.▇.▇. ▇▇ recover all sums paid in violation of this Pact by ▇▇▇▇▇▇bidder/consultant (s) to any middleman middlemen or agent or broker with a broken witha view to securing the contract. (ix) In ▇.▇.▇. ▇▇ cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER REC with the BIDDERbidder/consultant, the same shall not be opened. 6.1.10. Forfeiture of performance ▇▇▇▇ in case of a decision by the REC to forfeit the same without assigning any reason for imposing for sanctionfor violation of this pact 6.2 The REC will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the bidder/consultant or any one employed by it or acting on its behalf (whether with or without the knowledge of the bidder/consultant), ofan offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the REC to the effect that a breach of the provisions of thispact has been committed by the bidder/consultant shall be final and conclusive on the bidder/consultant. However, the bidder/consultant can approach the Independent Monitor(s) appointed for the purposes of this Pact

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether Whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever whenever required:- (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and / or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) To immediately cancel the contract, contract if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, BUYER and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash encash, the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, payments already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or middlemenor agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the commission by the BIDDER or any one employed by it or acting on its behalf (Whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER BIDDER/CONSULTANT or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER/CONSULTANT) shall entitle the BUYER REC to take all or any one of the following actions, wherever required:-required: - (i) 6.1.1. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/CONSULTANT. However, the proceedings with the other BIDDER(s) would continue.proceedings (ii) 6.1.2. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER REC and the BUYER REC shall not be required to assign any reason therefore. (iii) 6.1.3. To immediately cancel the contract, if already signed, without giving any givingany compensation to the BIDDER. (iv) 6.1.4. To recover all sums already paid by the BUYERREC, and in case of an the Indian BIDDER BIDDER/CONSULTANT with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER BIDDER/CONSULTANT from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER REC in connection with any other contract for contractfor any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) 6.1.5. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/CONSULTANT, in order to recover the payments, already made by the BUYERRECL, along with interestwithinterest. (vi) 6.1.6. To cancel all or any other Contracts contracts with the BIDDERtheBIDDER/CONSULTANT. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER REC resulting from such cancellation/rescission and the BUYER REC/PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/CONSULTANT. (vii) 6.1.7. To debar the BIDDER BIDDER/CONSULTANT from participating in future bidding processes of the Government of India REC/PRINCIPAL for a minimum period of five years, which may be further extended at the discretion of the BUYERREC. (viii) 6.1.8. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇BIDDER/CONSULTANT (s) to any middleman middlemen or agent or broker with a broken witha view to securing the contract. (ix) 6.1.9. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER REC with the BIDDER/CONSULTANT, the same shall not be opened. 6.1.10. Forfeiture of performance ▇▇▇▇ in case of a decision by the REC to forfeit the same without assigning any reason for imposing for sanctionfor violation of this pact 6.2 The REC will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x)of this Pact also on the Commission by the BIDDER/CONSULTANT or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/CONSULTANT), ofan offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the REC to the effect that a breach of the provisions of thispact has been committed by the BIDDER/CONSULTANT shall be final andconclusive on the BIDDER/CONSULTANT. However, the BIDDER/CONSULTANT can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 6.1. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle of the BUYER to take all or any one of the following actions, wherever required:-required : - (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (( in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (( after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from fom the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India NALCO for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER COMPANY to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre contract negotiations without assigning any reason or and without giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue, unless the COMPANY desires to drop the entire process. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER COMPANY and the BUYER COMPANY shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERCOMPANY, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Base Rate of State Bank of IndiaBaroda, while in case of a BIDDER from a country other than India with interest thereon at 2% %. higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER COMPANY in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERCOMPANY, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER COMPANY resulting from such cancellation/rescission and the BUYER COMPANY shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government COMPANY or any of India its Subsidiaries for a minimum period of five years, which may be further extended at the discretion of the BUYERCOMPANY. (viii) To recover all sums paid paid, in violation of this Pact Pact, by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters Forfeiture of Credit have been received Performance Bond in respect case of any contract signed a decision by the BUYER COMPANY to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. (x) Intimate to the CVC, IBA, RBI, as the COMPANY deemed fit the details of such events for appropriate action by such authorities. 6.2 The COMPANY will be entitled to take all or any of the actions mentioned at para 6.1(i) to(x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the COMPANY to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and convulsive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effct that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions herein contained by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-/SELLER (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDERBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER. However, the proceedings with the other BIDDER(sBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER(s) would continue. (ii) The . To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDERBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER. (iv) . To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER /SELLER /CONTRACTOR from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. The BUYER shall also be entitled to recover the replacement costs from BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDERBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER and the BIDDER /SELLER /CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDERBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER. (vii) . To debar the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDERBIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER, the same shall not be opened. x. Forfeiture of The Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. xi. The BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER. The BIDDER /SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER. 7.2. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1 (i) to (xi) of this Pact, also in the event of commission by the BIDDER / SELLER/CONTRACTOR/SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER /SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER /SELLER /CONTRACTOR. However, the BIDDER

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(smoney (s) due to the BIDDER (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Full Turnkey Contract

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit Forfeiture of the Security Bid Bond (in pre-contract stage) and/or Performance Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER bidder from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Security Deposit in case of a decision by the BYUER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: E Tender for Supply of Medical Consumable Items

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether Whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever whenever required:- (i) a. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) b. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and / or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) c. To immediately cancel the contract, contract if already signed, without giving any compensation to the BIDDER. (iv) d. To recover all sums already paid by the BUYER, BUYER and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) e. To encash appropriate the advance bank performance guarantee and performance bond/warranty bond, if amount furnished by the BIDDER, in order to recover the payments, payments already made by the BUYER, along with interest. (vi) f. To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting BUYER g. Resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) h. To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five Three years, which may be further extended at the discretion of the BUYER. (viii) i. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) j. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. k. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the commission by the BIDDER or any one employed by it or acting on its behalf (Whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Relationship Beyond Banking

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) . v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) 6.1.1 To immediately call off the pre contract negotiations CONTRACT without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or 6.1.2 Forfeiture of the Performance Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) 6.1.3 To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) 6.1.4 To recover all sums already paid by the BUYERPRINCIPAL, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) 6.1.5 To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) 6.1.6 To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) 6.1.7 To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYERCHARTERER. (viii) 6.1.8 To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contractCONTRACT. (ix) 6.1.9 In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. 6.1.10 Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6. 1.1 to 6.1.10 of this Pact also on the Commission by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the PRINCIPAL to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BUILDE can approach the Independent Monitor(s) appointed for the purposes of this Pact. (The appointment of the Independent Monitors is in progress by Ministry of Earth Sciences and details of monitors shall be intimated to the BIDDER)

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 6.1. Any breach of the aforesaid provisions herein contained by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving orgiving any compensation to the BIDDER. However, the proceedings with the other BIDDER(sBIDDER (s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER and the BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) iii. To debar the BIDDER from participating in future bidding processes of the Government of India for a BUYER fora minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) iv. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) BIDDER to any middleman middlemen or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters v. Forfeiture of Credit have been received The Performance Bond in respect case of any contract signed a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. vi. The BIDDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. 6.2. The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (vi) of this Pact, also in the event of commission by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence asdefined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent External Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to 6.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and convulsive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 7.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee ▇▇▇▇▇▇▇ Money Deposit and performance bondPerformance Bond/warranty bondWarranty Bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further befurther extended at the discretion of the BUYER. (viii) To ▇▇▇▇. ▇▇ recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact 7.2 The BUYER will be entitled to take all or any of the actions mentioned at paragraph 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Annual Maintenance Contract

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, signed without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five two years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sthe BIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 7.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 5.1. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle of the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash en-cash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India NALCO for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 7.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond Bank Guarantee (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, signed without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bondguarantee/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five two years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact pact by ▇▇▇▇▇▇(sthe BIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bank Guarantee in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 7.2 The BUYER will be entitled to take all or any of the actions mentioned at para 7.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent monitor(s) appointed for the purposes of this pact.

Appears in 1 contract

Sources: Annual Rate Contract

Sanctions for Violations. 6.1 4.1 Any breach of the aforesaid provisions by the BIDDER TPSA or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERTPSA) shall entitle the BUYER Coal Producer or Coal Consumer to take all or any one of the following actions, wherever required:- (i) I. To immediately call off the pre contract negotiations signing of the Tripartite Agreement without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continueTPSA. (ii) II. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) Security, submitted as part of Tripartite Agreement, shall stand forfeited either fully or partially, as decided by the BUYER Coal Producer or Coal Consumer and the BUYER Coal Producer or Coal Consumer shall not be required to assign any reason therefore. (iii) III. To immediately cancel the contractTripartite Agreement, if already signed, without giving any compensation to the BIDDERTPSA. (iv) IV. To recover all sums already paid by the BUYERCoal Producer or Coal Consumer, and in case of an Indian BIDDER TPSA with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER TPSA from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interestLIBOR. (v) V. To encash the advance bank guarantee and performance bond/warranty bondPerformance Security, if furnished by the BIDDERTPSA, in order to recover the payments, already made by the BUYERCoal Producer or Coal Consumer, along with interest. (vi) VI. To cancel all or any other Contracts contracts with the BIDDERTPSA. The BIDDER TPSA shall be liable to pay compensation for any loss 'or damage to the BUYER Coal Producer or Coal Consumer resulting from such cancellation/rescission and the BUYER Coal Producer or Coal Consumer shall be entitled to deduct the amount so payable from the money(spayment (s) due to the BIDDERTPSA. (vii) VII. To debar the BIDDER TPSA from participating in future bidding processes of the Government of India Coal Producer or Coal Consumer for a minimum period of five (5) years, which may be further extended at the discretion of the BUYERCoal Producer or Coal Consumer. (viii) VIII. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sTPSA(s) to any middleman or agent or broker with a view to securing the contractTripartite Agreement. (ix) IX. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER Coal Producer or Coal Consumer with the BIDDERTPSA, the same shall not be opened. 4.2 The Coal Producer or Coal Consumer will be entitled to take all or any of the actions mentioned at para 5.1 (i) to (ix) of this Pact also on the Commission by the TPSA or any one employed by it or acting on its behalf (whether with or without the knowledge of the TPSA), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 4.3 The decision of the Coal Producer or Coal Consumer to the effect that a breach of the provisions of this Integrity Pact has been committed by the TPSA shall be final and conclusive on the TPSA. However, the TPSA can approach the independent monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Tripartite Agreement

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed any one Employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings proceeding with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond Deposit /Performance bond (after the contract is signed) signed shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums sum already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate prime lending rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR . If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, BIDDER in order to recover the payments, already made by the BUYERBIDDER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The , the BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(smoney (s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five yearsyear, which may be further extended at the discretion of the BUYER.Buyer (viii) To recover all sums sum paid in violation of this Pact pact by ▇▇▇▇▇▇bidder (s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases case where irrevocable Letters letters of Credit credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of performance bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1(i) to (x) of this pact also on the commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian penal code, 1860 or prevention of corruption. 6.3 The decision of the BUYER to the effect that breach of the provisions of this pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent monitor (s) appointed for the purpose of this pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and convulsive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 I. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) a. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(sBIDDER (s) would continue. (ii) b. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) c. To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) d. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) e. To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) f. To debar the BIDDER from participating in future bidding processes of the Government of India PRINCIPAL for a minimum period of five years, which may be further extended at the discretion of the BUYERPRINCIPAL. (viii) g. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇BIDDER (s) to any middleman or agent or broker or any other intermediary with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. h. Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. II. The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6 (I)(a) to 6 (I)(i) of this Pact also on the commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. III. The decision of the PRINCIPAL to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without orwithout the knowledge of the BIDDER) shall entitle the BUYER the'BUYER/EMPLOYER' to take all or any one of the following actionsfollowingactions, wherever required:- (i) To immediately call off the pre contract negotiations without negotiationswithout assigning any reason or giving any compensation to the BIDDERtheBIDDER. However, the proceedings with the other BIDDER(s) would BIDDER(s)would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or stage)and/or Security Deposit/Performance Bond (after the contract is signedissigned) shall stand forfeited either fully or partially, as decided by decidedby the BUYER 'BUYER/EMPLOYER' and the BUYER shall 'BUYER/ EMPLOYER'shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, ,without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER/EMPLOYER', and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER ‘BUYER/EMPLOYER' in connection with any other contract for any other storescontract, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER/EMPLOYER', along with alongwith interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER.The BIDDER shall shall, be liable to pay compensation for any loss 'or lossor damage to the BUYER 'BUYER/EMPLOYER' resulting from such cancellationsuchcancellation/rescission and the BUYER 'BUYER/EMPLOYER' shall be entitled beentitled to deduct the amount so payable from the money(s) due to dueto the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India biddingprocesses for a minimum period of five offive years, which may be further extended at the discretion of the ofthe 'BUYER/EMPLOYER’. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sbyBIDDER(s) to any middleman or agent or broker with a view to viewto securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER ‘BUYER/EMPLOYER' with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Guarantee in case of adecision by the 'BUYER/ EMPLOYER' to forfeit the samewithout assigning any reason for imposing sanction for violationof this Pact. 6.2 The 'BUYER/EMPLOYER' will be entitled to take all or any of theactions mentioned at para 6.1(i) to (x) of this Pact also on theCommission by the BIDDER or any one employed by it or actingon its behalf (whether with or without the knowledge of theBIDDER), of an offence as defined in Chapter IX of the IndianPenal code, 1860 or Prevention of Corruption Act, 1988 or anyother statute enacted for prevention of corruption. 6.3 The decision of the 'BUYER/EMPLOYER' to the effect that abreach of the provisions of this Pact has been committed by theBIDDER shall be final and conclusive on the BIDDER. However,the BIDDER can approach the Independent Monitor(s) appointedfor the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERPRINCIPAL, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission recession and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India UCSL for a minimum period of five yearsas deemed appropriate, which may any be further extended at the discretion of the BUYERPRINCIPAL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The PRINCIPAL will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the PRINCIPAL to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be binding on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER COMPANY to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre contract negotiations without assigning any reason or and without giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue, unless the COMPANY desires to drop the entire process. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER COMPANY and the BUYER COMPANY shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERCOMPANY, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Base Rate of State Bank of IndiaBaroda, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER COMPANY in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERCOMPANY, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER COMPANY resulting from such cancellation/rescission and the BUYER COMPANY shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government COMPANY or any of India its Subsidiaries for a minimum period of five years, which may be further extended at the discretion of the BUYERCOMPANY. (viii) To recover all sums paid paid, in violation of this Pact Pact, by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters Forfeiture of Credit have been received Performance Bond in respect case of any contract signed a decision by the BUYER COMPANY to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. (x) Intimate to the CVC, IBA, RBI, as the COMPANY deemed fit the details of such events for appropriate action by such authorities. 6.2 The COMPANY will be entitled to take all or any of the actions mentioned at para 6.1(i) to(x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the COMPANY to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it byit or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To i. Tc immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required berequired to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) v. To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such fromsuch cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) vi. To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viiivii. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for, imposing sanction for violation of this. Pact. 6.2 The BUYER will be entitled to take ail or any of the actions mentioned at para 6.1(i)to(vii) To recover all sums paid in violation of this Pact also on the Commission by ▇▇▇▇▇▇the BIDDER or any one employed by it or acting on its behalf (s) to whether with or without the knowledge of the BIDDER),of an offence as defined in Chapter lX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any middleman or agent or broker with a view to securing the contractother statute enacted for prevention of corruption. (ix) In cases where irrevocable Letters 6.3 The decision of Credit have the BUYER to the effect that a breach of the provisions of this Pact has been received in respect of any contract signed committed by the BUYER with BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason thereforethereof. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee Guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India Goa Shipyard Limited for a minimum period of five years, which may be further extended at the discretion of the BUYERBUYER and exclude from future business dealings. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact. The BIDDER undertakes that it shall not approach the Courts while representing the matters to IEMs and will await the decision of the IEMs in the matter.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 7.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee ▇▇▇▇▇▇▇ Money Deposit and performance bondPerformance Bond/warranty bondWarranty Bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact 7.2 The BUYER will be entitled to take all or any of the actions mentioned at paragraph 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Annual Maintenance Contract

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To i. Tc immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) v. To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so amountso payable from the money(s) due to the BIDDER. (vii) vi. To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. vii. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for, imposing sanction for violation of this. Pact. 6.2 The BUYER will be entitled to take ail or any of the actions mentioned at para 6.1 (viiii)to(vii) To recover all sums paid in violation of this Pact also on the Commission by ▇▇▇▇▇▇the BIDDER or any one employed by it or acting on its behalf (s) to whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter lX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any middleman or agent or broker with a view to securing the contractother statute enacted for prevention of corruption. (ix) In cases where irrevocable Letters 6.3 The decision of Credit have the BUYER to the effect that a breach of the provisions of this Pact has been received in respect of any contract signed committed by the BUYER with BIDDER shall be final and conclusive on the BIDDER. However, the same shall not be openedBIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and convulsive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions by the BIDDER BIDDER/SELLER /CONTRACTOR or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER/CONTRACTOR) shall entitle the BUYER BUYER/PRINCIPAL to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/SELLER/CONTRACTOR. However, the proceedings with the other BIDDER(sBIDDER/SELLER/CONTRACTOR(s) would continue. (ii) The To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER BUYER/PRINCIPAL and the BUYER BUYER/PRINCIPAL shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER/SELLER/CONTRACTOR. (iv) To recover all sums already paid by the BUYER/PRINCIPAL, and in case of an the Indian BIDDER BIDDER/SELLER/CONTRACTOR with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER BIDDER/SELLER/CONTRACTOR from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/SELLER /CONTRACTOR from the BUYER BUYER/PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/SELLER /CONTRACTOR, in order to recover the payments, already made by the BUYER/PRINCIPAL, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER /SELLER /CONTRACTOR and the BIDDER. The BIDDER /SELLER /CONT RACTOR shall be liable to pay compensation for any loss 'or damage to the BUYER BUYER/PRINCIPAL resulting from such cancellation/rescission and the BUYER BUYER/PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER /CONTRACTOR. (vii) To debar the BIDDER BIDDER/SELLER/CONTRACTOR from participating in future bidding processes of the Government of India BUYER/PRINCIPAL for a minimum period of five years, which may be further extended at the discretion of the BUYER/PRINCIPAL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER/SELLER/CONTRACTOR(s) to any middleman middlemen or agent or broker broken with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER BUYER/PRINCIPAL with the BIDDER/SELLER/CONTRACTOR, the same shall not be opened. (x) If the BIDDER/SELLER/CONTRACTOR or any employee of the BIDDER/SELLER/CONTRACTOR or any person acting on behalf of the BIDDER/SELLER/CONTRACTOR, either directly or indirectly, is closely related to any of the officers of the BUYER/PRINCIPAL, or alternatively, if any close relative of an officer of the BUYER/PRINCIPAL has financial interest/stake in the BIDDER /SELLER/CONTRACTOR's firm, the same shall be disclosed by the BIDDER/SELLER/CONTRACTOR at the time of tilling of tender. Any failure to disclose the interest involved shall entitle the BUYER/PRINCIPAL to rescind the contract without payment of any compensation to the BIDDER/SELLER/CONTRACTOR. The term 'close relative' for this purpose would mean spouse whether residing with the Government servant or not, but not include a spouse separated from the Government servant by a decree or order of a competent court; son or daughter or step son or step daughter and wholly dependent upon Government servant, but does not include a child or step child who is no longer in any way dependent upon the Government servant or of whose custody the Government servant has been deprived of by or under any law; any other person related, whether by blood or marriage, to the Government servant or to the Government servant's wife or husband and wholly dependent upon Government servant (xi) The BIDDER/SELLER/CONTRACTOR shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER/PRINCIPAL, and if he does so, the BUYER/PRINCIPAL shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/SELLER/CONTRACTOR. The BIDDER/SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER/PRINCIPAL resulting from such rescission and the BUYER/PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER /CONTRACTOR. 7.2. The decision of the BUYER/PRINCIPAL to the effect that a breach of the provisions of this pact has been committed by the BIDDER/SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER/SELLER /CONTRACTOR. However, the BIDDER/SELLER/CONTRACTOR can approach the Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman Middle man or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any IncaseswhereirrevocableLettersofCredithavebeenreceivedinrespectofany contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860, or Prevention of Corruption Act, 1988, or any other statute enacted for prevention of corruption. The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following followings actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India Indian Rare Earths Limited for a minimum period of five years, which may be further extended at the discretion of the BUYERUCIL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Performance Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required require to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER Bidder(s)/Contractor(s) or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERBidder(s)/Contractor(s) shall entitle the BUYER Principal/Owner to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDERBidder(s)/Contractor(s). However, the proceedings with the other BIDDER(sBidder(s)/Contractor(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond / Gurantee (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER Principal/Owner shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDERBidder(s)/Contractor(s). (iv) To recover all sums already paid by the BUYERPrincipal/Owner, and in case of an Indian BIDDER Bidder(s)/Contractor(s) with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from Bidder(s)/Contractor(s) form a country other than India with interest thereon theron at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from Bidder(s)/Contractor(s) form the BUYER Principal/Owner in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDERBidder(s)/Contractor(s), in order to recover the payments, already made by the BUYERPrincipal/Owner, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDERBidder(s)/Contractor(s). The BIDDER Bidder(s)/Contractor(s) shall be liable to pay compensation for any loss 'or damage to the BUYER Principal/Owner resulting from such cancellation/cancellation/ rescission and the BUYER Principal/Owner shall be entitled to deduct the amount so payable from form the money(s) due to the BIDDERBidder(s)/Contractor(s). (vii) To debar the BIDDER Bidder(s)/Contractor(s) from participating participation in future bidding processes of the Government of India New Delhi Municipal Council for a minimum period ranging from six months to maximum five years. However if the bidder takes corrective measures against transgressions, subject to satisfaction of Principal/Owner & IEMs, the period of five years, which may debar can be further extended at the discretion of the BUYERreviewed. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBidder(s)/Contractor(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases case where irrevocable Letters Letter of Credit have been received in respect of any contract signed by the BUYER Principal/Owner with the BIDDERBidder(s)/Contractor(s), the same shall not be opened. (x) Forfeiture of Performance Bond/Guarantee in case of a decision by the Principal/Owner to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The Principal/Owner will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the Bidder(s)/Contractor(s) or any one employed by it or acting on its behalf (whether with or without the knowledge of the Bidder(s)/Contractor(s), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the Principal/Owner to the effect that a breach of the provisions of this Pact has been committed by the Bidder(s)/Contractor(s) shall be final and conclusive on the Bidder(s)/Contractor(s). However, the Bidder(s)/Contractor(s) can approach the Independent Monitor(s) appointed for the purposes of this Pact. IEMs shall examine the transgression and its severity and submit the report to Chairman, NDMC for further action after providing an opportunity and hearing to the affected parties.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, ; already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (ix) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Contract for Housekeeping Services and Manpower Supply

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %. higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall shall· be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER TENDERER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERTENDERER) shall entitle the BUYER EMPLOYER to take all or any one of the following actions, wherever required:-required :- (i) i. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDERTENDERER. However, the proceedings with the other BIDDER(sTENDERER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and/ or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER EMPLOYER and the BUYER EMPLOYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDERTENDERER. (iv) . To recover all sums already paid by the BUYEREMPLOYER, and in case of an Indian BIDDER TENDERER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER TENDERER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER TENDERER from the BUYER EMPLOYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDERTENDERER, in order to recover the payments, already made by the BUYEREMPLOYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDERTENDERER. The BIDDER TENDERER shall be liable to pay compensation for any loss 'or damage to the BUYER EMPLOYER resulting from such cancellation/cancellation/ rescission and the BUYER EMPLOYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDERTENDERER. (vii) . To debar the BIDDER TENDERER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYEREMPLOYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sTENDERER(S) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER EMPLOYER with the BIDDERTENDERER, the same shall not be opened. x. Forfeiture of Performance Bond in case of a decision by the EMPLOYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The EMPLOYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the TENDERER or any one employed by it or acting on its behalf (whether with our without the knowledge of the TENDERER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the EMPLOYER to the effect that a breach of the provisions of the Pact has been committed by the TENDERER shall be final and conclusive on the TENDERER. However, the TENDERER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and convulsive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 5.1. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle of the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (( in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (( after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash en-cash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India NALCO for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 7.1. Any breach of the aforesaid provisions herein contained by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-/SELLER (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. However, the proceedings with the other BIDDER(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) would continue. (ii) The . To forfeit fully or partially the ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially), as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (iv) . To recover all sums already paid by the BUYER, and in case of an the Indian BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank (Name of India, the Bank/Financial Institution) while in case of a BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER BIDDER/SELLER /CONTRACTOR from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. The BUYER shall also be entitled to recover the replacement costs from BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts contracts with the BIDDER /SELLER/CONTRACTOR/SERVICE PROVIDER and the BIDDER. The BIDDER /SELLER /CONTRACTOR/SERVICE PROVIDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. (vii) . To debar the BIDDER BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER from participating in future bidding processes of the Government of India BUYER for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER(s) to any middleman middlemen or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER, the same shall not be opened. x. Forfeiture of The Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. xi. The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER shall not lend to or borrow any money from or enter into any monetary dealings or transactions, directly or indirectly, with any employee of the BUYER, and if he does so, the BUYER shall be entitled forthwith to rescind the contract and all other contracts with the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. The BIDDER/SELLER/ CONTRACTOR shall be liable to pay compensation for any loss or damage to the BUYER resulting from such rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER. 7.2. The BUYER will be entitled to take all or any of the actions mentioned at para 7.1 (i) to (xi) of this Pact, also in the event of commission by the BIDDER/ SELLER/CONTRACTOR/SERVICE PROVIDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined In Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 7.3. The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER/SELLER/ CONTRACTOR shall be final and conclusive on the BIDDER/SELLER /CONTRACTOR. However, the

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actionsaction, wherever required:- (i) i. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To ▇▇▇. ▇▇ immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) v. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the paymentspayment, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) . To debar the BIDDER from participating in future bidding processes of o the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters Letter of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x. Forfeiture of Performance ▇▇▇▇ in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of the Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the India Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been omitted by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission recession and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India LIC for a minimum period of five years, years which may any be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this pact has been committed by the BIDDER shall be final and convulsive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) 5.1.1 To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) 5.1.2 The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and/ or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) 5.1.3 To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) 5.1.4 To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Base Rate of State Bank of IndiaBaroda, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) 5.1.5 To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) 5.1.6 To cancel all or any other Contracts with the BIDDER. The BIDDER shall shall· be liable to pay compensation for any loss '·or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) 5.1.7 To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) 5.1.8 To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) 5.1.9 In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. 5.1.10 Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country county other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of Coal India Ltd. for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viiiViii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 5.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is contract(s) is/are signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contractcontract(s), if already signed, without giving any compensation to the BIDDERIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 25% higher than the prevailing Prime Lending Base Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 25% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other storescontract(s), such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee Bank Guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with alongwith interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) To debar the BIDDER from participating in future bidding processes of the Government of India TCIL for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contractcontract(s). (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract contract(s) signed by the BUYER with the BIDDER, the same shall not be opened. x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. xi) Any other action as decided by CMD, TCIL based on the recommendation by Independent External Monitors (IEMs). 5.2 The BUYER will be entitled to take all or any of the actions mentioned at para 5.1(i) to (xi) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption ▇▇▇ ▇▇▇▇ or any other statute enacted for prevention of corruption. 5.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent External Monitor (s) appointed for the purposes of this Pact. 5.4 For any breach of the provisions of Clauses 1.1 to 1.3 by the Buyer, action as mentioned at Clause 2 shall be applicable.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) required:- To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) . The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) . To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) . To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) . To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) . To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988, or any other statute enacted for prevention of corruption. The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Precontract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following followings actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit / Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/bond / warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation / rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India Indian Rare Earths Limited for a minimum period of five years, which may be further extended at the discretion of the BUYERUCIL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(sBIDDER (s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already . Already made by the BUYER, along with the interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(smoney (s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable irrecoverable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance bond incase of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor (s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Consultancy Agreement

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions provision by the BIDDER or anyone employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) required: - • To immediately call off the pre pre-contract negotiations negotiation without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) continue • The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and /or Security Deposit/Performance Bond Bond) (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) . • To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) BIDDER • To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER bidder from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER bidder from the BUYER buyer in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) . • To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, BUYER along with interest. (vi) . • To cancel all or any other Contracts with the BIDDER. The , the BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) BIDDER • To debar the BIDDER from participating in future bidding processes of the Government of India buyer or its associates or subsidiaries for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) . • To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) . • In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDERBIDER, the same shall not be opened. • Forfeiture of Performance Bond in case of decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. • The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this Pact also on the commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defied in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. • The decision of the BUYER to the effect that a breach of the provision of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER BIDDER/SELLER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER) shall entitle the BUYER BUYER/ EMPLOYER to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract pre-Contract negotiations without assigning any reason or giving any compensation to the BIDDER/SELLER. However, the proceedings with the other BIDDER(sBIDDER/SELLER (s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract Contract stage) and/or Performance Security Deposit/Performance Bond (after the contract Contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER BUYER/ EMPLOYER and the BUYER BUYER/ EMPLOYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contractContract, if already signed, without giving any compensation to the BIDDER/SELLER. (iv) To If the BUYER/ EMPLOYER has disqualified the bidder from the tender process according to Section-4prior to the award, the BUYER/ EMPLOYER is entitled to demand and recover all sums already paid by the BUYERdamages equivalent to ▇▇▇▇▇▇▇ Money Deposit. If the BUYER/ EMPLOYER has terminated the Contract according to Section- 4, or if the BUYER/ EMPLOYER is entitled to terminate the Contract according to Section-4, the BUYER/ EMPLOYER shall be entitled to demand and in case recover from the Contractor, liquidated damages equivalent to 5% of an Indian BIDDER with interest thereon at 2% higher the Contract Value, or the amount equivalent to Performance Security, whichever is higher. The BIDDER/SELLER agrees and undertakes to pay the said amounts, without protest or demur, subject only to the condition that, if the BIDDER/SELLER/Contractor can prove and establish that the termination of the Contract after the Contract award has caused no damage or less damage than the prevailing Prime Lending Rate amount of State Bank of Indiathe liquidated damages, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due BIDDER/SELLER/Contractor shall compensate the BUYER/ EMPLOYER, only to the BIDDER from extent of the BUYER damage in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest.amount proved.. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by debar the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER (vii) To debar the BIDDER SELLER from participating in future bidding processes of the Government of India BUYER/ EMPLOYER for a minimum period of five years, which may be further extended at the discretion of the BUYERBUYER/ EMPLOYER. (viiivi) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) BIDDER(s)/SELLERS to any middleman or agent or broker with a view to securing the contractContract. 6.2 The BUYER/ EMPLOYER will be entitled to take all or any of the actions mentioned at paras6.1(i) to (ixvi) In cases where irrevocable Letters of Credit have been received in respect of any contract signed this Pact also on the commission by the BUYER BIDDER/SELLER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER), of an offence as defined in Chapter IX of the same shall not be openedIndian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether Whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving given any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at Para 6.1(i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act,1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER PRINCIPAL to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any any; compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER PRINCIPAL and the BUYER PRINCIPAL shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYERPRINCIPAL, and in the case of an Indian BIDDER with interest thereon at 2% higher than above the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than above the UBORLIBOR (London Inter Bank Offer Rate). If any outstanding payment is due to the BIDDER from the BUYER PRINCIPAL in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYERPRINCIPAL, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER PRINCIPAL resulting from such cancellation/rescission and the BUYER PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in the future bidding processes of the Government of India PRINCIPAL for a minimum period of five yearsas deemed appropriate, which may any be further extended at the discretion of the BUYERPRINCIPAL. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER PRINCIPAL with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the PRINCIPAL to forfeit the same without assigning any reason for imposing sanction for violation of this pact.

Appears in 1 contract

Sources: Biennial Maintenance Rate Contract

Sanctions for Violations. 6.1 6.1. Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and / or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason thereforetherefor. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest., (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2. The BUYER will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal Code, 1860, or Prevention of Corruption Act, 1988, or any other statute enacted for prevention of corruption. 6.3. The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:- (i) I. To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) II. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or and/ or Security Deposit/Deposit/ Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, partially as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) III. To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) IV. To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% %, higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other another contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (va) To encash the advance bank guarantee and performance bond/bond/ warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vib) To cancel all or any other Contracts contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/cancellation/ rescission and the BUYER shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (viic) To debar the BIDDER from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYER. (viiid) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(sBIDDER(S) to any middleman or agent or broker with a view to securing the contract. (ixe) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (f) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to I. of this Pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with our without the knowledge of the BIDDER), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of the Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER [A] or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) [A] shall entitle the BUYER CLIENT to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre pre-contract negotiations without assigning any reason or giving any compensation to the BIDDER[A]. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance performance Bond (after the contract [B] is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER CLIENT shall not be required to assign any reason therefore. (iii) To immediately cancel the contract[B], if already signed, without giving any compensation to the BIDDER[A]. (iv) To recover all sums already paid by the BUYERCLIENT, and in case of an Indian BIDDER [A] with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER [A] from a the country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER [A] from the BUYER CLIENT in connection with any other contract for any other stores[B], such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER[A], in order to recover the payments, already made by the BUYERCLIENT, along with interest. (vi) To cancel all or any other Contracts with the BIDDER[A]. The BIDDER [A] shall be liable to pay compensation for any loss 'or damage to the BUYER CLIENT resulting from such cancellation/rescission and the BUYER CLIENT shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER[A]. (vii) To debar the BIDDER [A] from participating in future bidding processes of the Government of India for a minimum period of five years, which may be further extended at the discretion of the BUYERCLIENT. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) [A] to any middleman or agent or broker with a view to securing [B] the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract [B] signed by the BUYER CLIENT with the BIDDER[A], the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the CLIENT to forfeit the same without assigning any reason for imposing sanction for violation of this pact. 6.2 The CLIENT will entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the [A] or any one employed by it or acting on its behalf (whether with or without the knowledge of the [A], of an offence as defined in Chapter IX of the Indian Penal Code, 1860 or Prevention of Corruption Act, 1988 or any other stature enacted for prevention of corruption. 6.3 The decision of the CLIENT to the effect that a breach of the provisions of this Pact has been committed by the [A] shall be final and conclusive on the [A]. However, the [A] can approach the independent monitor(s) appointed for the purposes of this pact.

Appears in 1 contract

Sources: Contract Agreement

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER Bidder(s)/Contractor(s) or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDERBidder(s)/Contractor(s) shall entitle the BUYER Principal/Owner to take all or any one of the following actions, wherever required:- (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDERBidder(s)/Contractor(s). However, the proceedings with the other BIDDER(sBidder(s)/Contractor(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond / Guarantee (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER Principal/Owner shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDERBidder(s)/ Contractor(s). (iv) To recover all sums already paid by the BUYERPrincipal/Owner, and in case of an Indian BIDDER Bidder(s)/Contractor(s) with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from Bidder(s)/Contractor(s) form a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from Bidder(s)/Contractor(s) form the BUYER Principal/Owner in connection with any other contract for any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDERBidder(s)/Contractor(s), in order to recover the payments, already made by the BUYERPrincipal/Owner, along with interest. (vi) To cancel all or any other Contracts contracts with the BIDDERBidder(s)/Contractor(s). The BIDDER Bidder(s)/Contractor(s) shall be liable to pay compensation for any loss 'or damage to the BUYER Principal/Owner resulting from such cancellation/cancellation/ rescission and the BUYER Principal/Owner shall be entitled to deduct the amount so payable from form the money(s) due to the BIDDERBidder(s)/Contractor(s). (vii) To debar the BIDDER Bidder(s)/Contractor(s) from participating participation in future bidding processes of the Government of India New Delhi Municipal Council for a minimum period ranging from six months to maximum five years. However if the bidder takes corrective measures against transgressions, subject to satisfaction of Principal/Owner & IEMs, the period of five years, which may debar can be further extended at the discretion of the BUYERreviewed. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(ss)/Contractor(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases case where irrevocable Letters Letter of Credit have been received in respect of any contract signed by the BUYER Principal/Owner with the BIDDERBidder(s)/Contractor(s), the same shall not be opened. (x) Forfeiture of Performance Bond/Guarantee in case of a decision by the Principal/Owner to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The Principal/Owner will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x) of this Pact also on the Commission by the Bidder(s)/Contractor(s) or any one employed by it or acting on its behalf (whether with or without the knowledge of the Bidder(s)/Contractor(s), of an offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the Principal/Owner to the effect that a breach of the provisions of this Pact has been committed by the Bidder(s)/Contractor(s) shall be final and conclusive on the Bidder(s)/Contractor(s). However, the Bidder(s)/Contractor(s) can approach the Independent Monitor(s) appointed for the purposes of this Pact. IEMs shall examine the transgression and its severity and submit the report to Chairman, NDMC for further action after providing an opportunity and hearing to the affected parties.

Appears in 1 contract

Sources: Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER BIDDER/CONSULTANT or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/SELLER/CONSULTANT) shall entitle the BUYER REC to take all or any one of the following actions, wherever required:-required: - (i) 6.1.1. To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER/CONSULTANT. However, the proceedings with the other BIDDER(s) would continue.proceedings (ii) 6.1.2. The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER REC and the BUYER REC shall not be required to assign any reason therefore. (iii) 6.1.3. To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) 6.1.4. To recover all sums already paid by the BUYERREC, and in case of an the Indian BIDDER BIDDER/CONSULTANT with interest thereon at 2% higher than the thanthe prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER BIDDER/CONSULTANT from a country other than India with interest Interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER REC in connection with any other contract for contractfor any other stores, such outstanding payment could also be utilized to recover the aforesaid sum and interest. (v) 6.1.5. To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER/CONSULTANT, in order to recover the payments, already made by the BUYERRECL, along with interest. (vi) 6.1.6. To cancel all or any other Contracts contracts with the BIDDER/CONSULTANT. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER REC resulting from such cancellation/rescission and the BUYER REC/PRINCIPAL shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER/CONSULTANT. (vii) 6.1.7. To debar the BIDDER BIDDER/CONSULTANT from participating in future bidding processes of the Government of India REC/PRINCIPAL for a minimum period of five years, which may be further extended at the discretion of the BUYERREC. (viii) 6.1.8. To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇BIDDER/CONSULTANT (s) to any middleman middlemen or agent or broker with a broken witha view to securing the contract. (ix) 6.1.9. In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER REC with the BIDDER/CONSULTANT, the same shall not be opened. 6.1.10. Forfeiture of performance ▇▇▇▇ in case of a decision by the REC to forfeit the same without assigning any reason for imposing for sanction for violation of this pact 6.2 The REC will be entitled to take all or any of the actions mentioned at para 6.1 (i) to (x)of this Pact also on the Commission by the BIDDER/CONSULTANT or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER/CONSULTANT), ofan offence as defined in Chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the REC to the effect that a breach of the provisions of this pact has been committed by the BIDDER/CONSULTANT shall be final and conclusive on the BIDDER/CONSULTANT. However, the BIDDER/CONSULTANT can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Pre Contract Integrity Pact

Sanctions for Violations. 6.1 Any breach of the aforesaid provisions by the BIDDER or anyone any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER to take all or any one of the following actions, wherever required:-required: - (i) To immediately call off the pre contract negotiations without assigning any reason or giving any compensation to the BIDDER. However, the proceedings with the other BIDDER(s) would continue. (ii) The ▇▇▇▇▇▇▇ Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Deposit/ performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the BUYER and the BUYER shall not be required to assign any reason therefore. (iii) To immediately cancel the contract, if already signed, without giving any compensation to the BIDDER. (iv) To recover all sums already paid by the BUYER, and in case of an Indian BIDDER with interest thereon at 2% higher than the prevailing Prime Lending Rate of State Bank of India, while in case of a BIDDER from a country other than India with interest thereon at 2% higher than the UBORLIBOR. If any outstanding payment is due to the BIDDER from the BUYER in connection with any other contract for any other stores, such outstanding payment could also be utilized utilised to recover the aforesaid sum and interest. (v) To encash the advance bank guarantee and performance bond/warranty bond, if furnished by the BIDDER, in order to recover the payments, already made by the BUYER, along with interest. (vi) To cancel all or any other Contracts with the BIDDER. The BIDDER shall be liable to pay compensation for any loss 'or damage to the BUYER resulting from such cancellation/rescission and the BUYER buyer shall be entitled to deduct the amount so payable from the money(s) due to the BIDDER. (vii) To debar the BIDDER from participating in future bidding processes processed of the Government of India India/the Company for a minimum period of five years, years which may be further extended at the discretion of the BUYER. (viii) To recover all sums paid in violation of this Pact by ▇▇▇▇▇▇(s) to any middleman or agent or broker with a view to securing the contract. (ix) In cases where irrevocable Letters of Credit have been received in respect of any contract signed by the BUYER with the BIDDER, the same shall not be opened. (x) Forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. 6.2 The BUYER will be entitled to take all or any of the actions mentioned at para 6.1(i) to (x) of this pact also on the Commission by the BIDDER or any one employed by it or acting on its behalf (whether with or without the knowledge of the BIDDER) of an offence as defined in chapter IX of the Indian Penal code, 1860 or Prevention of Corruption Act, 1988 or any other statute enacted for prevention of corruption. 6.3 The decision of the BUYER to the effect that a breach of the provisions of this Pact has been committed by the BIDDER shall be final and conclusive on the BIDDER. However, the BIDDER can approach the Independent Monitor(s) appointed for the purposes of this Pact.

Appears in 1 contract

Sources: Integrity Pact