agreement for vatika

7/29/2019 Agreement for Vatika

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This agreement is made on this 20.09.2013 between Payonidhi Kasliwal s/o

Late sh. Kamal Chand Kasliwal r/o Kamal Ratan enclave, Vatika Road, Vatika

Jaipur (hereinafter called the Owners) and GLOBAL BUILDSTATE PROJECT

PRIVATE LIMITED having its registered office at h-17, Gautam Marg, Shyam

Nagar, Jaipur-through its director Sh. Vikas Garg s/o Sh. R.K Garg party of the

Second Part (hereinafter called the Contractors).

The Owner is willing to get the construction and erection of the complex

completed as specified in clause no. 2 of this Agreement (hereinafter call the

specified work), by the contractor, who is willing to carry out the said specified

work, on the terms and conditions mentioned below.

The contractor had agreed with the Owner to start construction work at said

premises vide Work Order letter 10th

August 2011 for which both the parties

having already agreed have now entered into this written agreement on following

terms and conditions:

TERM OF WORK

1. That the contractor has commenced the execution of the specified work

w.e.f 20h June ,2013 and shall completely finish the civil works of the said

project within period of 6 (Six) months from the date of commencement i.e

20.06.2013.

2. That in case of delay in completion of the specified work, the period

specified in clauses-I above the Owners shall be entitled to deduct

liquidated damages Rs. 1,000/- (Rupees One Thousand Only) per day

with a maximum limit of Rs. 25,000/- after giving a grace period of 30

days.

3. In case the project is temporarily or permanently abandoned by the

contractor he is liable pay a fine of Rs 25000.

4. Time delay from the side of Owners/unforeseen delay/ legal or JDA

problem will not be counted in the stipulated time - 6 (Six) months.

SCOPE OF WORK

Refer to the tender for a detailed list of tasks to be completed.

MATERIALS and RESOURCES


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6 (i) Cement & Steel will be supplied by the Owners at the base rate. The cost of

Cement & Steel will be deducted from the running bills of Contractor as per the

actual consumption.

(ii) The contractor shall give the requisition of the material which is to be

supplied by the Owners to the Owners at least 10 days in advance of the daywhen material is scheduled to be used at Owners cost. Electricity & water will be

provided by Owners will provide one water supply point and one electricity point

as site for construction. Cost for the further distribution and maintenance as per

construction requirement, will be borne by contractor but running electricity

consumption bill will be borne by Owners.

(iii) The Owners shall provide complete Building plans including working drawing

from time to time for expeditious completion of work.

(iv) The contractor shall develop/employ adequate skilled and unskilled labour,technical and supervisory staff, and tools, machinery required for construction, in

sufficient numbers in order to complete the construction within stipulated time

and as per stipulated specification.

PRICES and COSTS

7 Payments will be made on a running bill on a monthly basis

8. The payment of running bills raised by the Building contractors shall be made

after the approval of the quality of construction by the technical staff present at

site or by Architects office with in seven days of submitting the running bill. The

payment of running bills shall be come due after following stages:

9. On submission of bill 75% payment shall be released within 7 days, and

balance 15% after verification by the architect, remaining 10% shall be retained

as security. Advance, if any, shall be deducted from 75% payment. Fifty percent

security amount shall be released after successful completion of construction of

work and balance 50% shall be refunded after defect liability period

10. That all the payments to contractor shall be subject to the statutorydeductions as per law for the time being in force in India , viz. T.D.S etc. and

liabilities towards service tax, Works Contract Tax, Labour Cess & any new

taxes etc, as applicable to be borne by the Owner.


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11. No payment will be made for temporary construction, necessary for labour

huts etc. there will not be any payment for material shifting required during

construction period.

12. No escalation clause will be operated under the agreement

SAFETY AND QUALITY

13. The contractors shall complete the construction work with latest modern

technology and under the personal supervision.

14. The contractors shall take utmost care and follow proper safety measures

security measures and during the course of construction under this agreement. In

the event of any miss happening or casualty during construction of the Building,

the Owners shall not own any responsibility and the contractors alone shall besolely responsible for such casualty and all the consequence arising therefore

including any financial damage, civil liability or criminal liability.

LABOR and WORKFORCE

15 That all payments relating to labour including P.F., E.S.I., Minimum Wages

Act, compensation to worker due to accident and other statutory liabilities under

the relevant labour Acts, for the time being in force in relation to workers

employed by him, for the said work shall be borne by contractor. Any cost ofinsurance for workers and staff at the site is to be borne by the contractor.

16. The contractor shall not employ any child labour as per the relevant law for

the time being in force.

17. (a) The contractor shall complete the work with proper coordination and in

harmony with other contractors for electrical, sanitary,carpentary etc.

(b) For technical guidance, the architects/structural engineers shall be

regularly consulted & directions shall be followed by the Contractors

DEFECTS AND CHANGES

18. The additional cost due to any alternations/additions in the specified work

shall be borne by the Owners. The contractor shall be paid the actual cost of

additional work/alternations and 15% of the cost, over and above the cost, as his


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supervision charges (subject to verification of the actual cost, to be finalized by

the architect).

19. Defect Liability Period: 12 Month after completion of the project in all respect

whichever is later and subject to Indemnity Bond executed separately. Any defect

during Defect Liability Period will be rectified/reconstructed/replaced by thecontractor at his own cost, otherwise Owners will have the right to do so on his

own sources and cost will be recovered from security deposit amount.

20. That in case of defective execution of the said work the Owners shall be

entitled to get the work done as per specification, either by contractor at his

(Contractors) cost or from other persons at the cost of the contractor.

21. That in case of any disputes and difference between Owners and contractors

in respect of this agreement the matter shall be dealt as per the Arbitration And

Conciliation Act 1996. The contractors and Owners (jointly) mutually agree tochoose panel of one person of the rank not less than Superintending Engineer

(Civil) of state/central government undertaking mutually acceptable to both

parties.

IN WITNESSS WHEREOF, THE PARTIES HERETO HAVE PUT THEIR

RESPECTIVE HAND ON THE DATE MENTIONED AT THE BEGINNING OF

THIS INDENTURE.

WITNESS SIGNATURE OF PARTIES

1. For Kamal Ratan Towers

(Authorized Signatory)

2. For Global Buildestate Projects

Pvt. Ltd.

Vikas Garg

(Director)

agreement for vatika

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