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(Referred To in Paragraphs 10.2.20 and 10.2.22) : Indenture For Secured Advances
(Referred To in Paragraphs 10.2.20 and 10.2.22) : Indenture For Secured Advances
that behalf contained in the said agreement debiting the Contractor with the
actual cost of effecting such completion and the amount due in respect of
advances under these presents and crediting the Contractor with the value of
work done as if he had carried it out in accordance with the said agreement
and at the rates thereby provided. If the balance is against the Contractor he is
to pay same to the President on demand.
(b) Remove and sell by public auction the seized materials or any part thereof and
out of the moneys arising from the sale retain all the sums aforesaid repayable
or payable to the President under these presents and pay over the surplus (if
any) to the Contractor.
(c) Deduct all or any part of the moneys owing out of the security deposit or any
sum due to the Contractor under the said agreement.
(9)
That except in the event of such default on the part of the Contractor as
aforesaid interest on the said advance shall not be payable.
(10) That in the event of any conflict between the provisions of these presents and
the said agreement the provisions of these presents shall prevail and in the event of
any dispute or difference arising over the construction or effect of these presents the
settlement of which has not been herein before expressly provided for the same shall
be referred to the Superintending Engineer .Circle whose
decision shall be final and the provision of the Indian Arbitration Act for the time
being in force shall apply to any such reference.
In witness whereof the said and by
the order and under the direction of the President have hereunto set their respective
hands the day and year first above written.
Signed, sealed and delivered by..
the said contractor in the presence of
Signature
Witness
Name
..
Address .
Signed by..
by the order and direction of the President
in the presence of
Signature
Witness
Name
Address .
..