Termination for Default नमुना कलम
Termination for Default. Dispute Resolution: Any disputes and or difference relating to this agreement or claims arising out of or relating to this agreement or breach, termination or the invalidity thereof or on any issue whether arising during the progress of the services or after the completion or abandonment thereof or any matter directly or indirectly connected with this agreement will be resolved through joint discussion of the authorized representatives of both the parties. If the dispute is not resolved by joint discussion, then the matter will be referred for adjudication to a sole Arbitrator appointed by The Arbitration and Conciliation Act, 1996 with subsequent amendments on receipt of written notice / demand of appointment of Arbitrator from either party. The award of the sole Arbitrator shall be final and binding on all the parties. The cost of Arbitration shall be borne by the respective parties equally. Arbitration proceedings will be held at Mumbai only.
Termination for Default. ADO without prejudice to any other remedy for breach of contract, by written notice of default sent to the Contractor/ Agency, terminate the contract in whole or part: • If the Contractor / Agency fails to deliver any or all the goods within the period(s) or within any extension thereof granted by the ADO. • If the Contractor / Agency, in the judgment of ADO has engaged in corrupt or fraudulent practices in competing for or in executing the contract. • In the event ADO terminates the contract in whole or in part, ADO may procure, upon such terms and in such manner as it deems. Appropriate goods or services similar to those un delivered and the Contractor / Agency shall be liable to ADO for any excess costs for such similar goods or services. However, the Contractor / Agency shall continue the performance of the contract to the extent not terminated.