Risk purchase definition
Risk purchase means of repurchase goods / services at the risk and cost of the defaulting contractor.
Examples of Risk purchase in a sentence
Risk purchases shall be proceeded as options: Option i- Risk purchase (on account of bulk procurement) shall be made from the descending lowest bidders where available /applicable keeping in view the bid validity period.
Wherever Risk purchase clause (amounting to more than 5% of contract value) is invoked, action shall be initiated as per relevant clause of “Guidelines for suspension of business dealings with Suppliers / Contractors” which is uploaded on BHEL website ▇▇▇.▇▇▇▇.▇▇▇.