Scribd
Upload
140 views10 pages

Commercial Aspects of A Contract

The document outlines the key components and commercial aspects of a contract for a construction or infrastructure project. It discusses the general rules and regulations, contents of a tender document, types of contracts, technical aspects, and conditions that are typically included. These include the notice inviting tenders, instructions to bidders, general and special conditions, erection conditions, technical specifications, price schedule, bid proposal form, and other important contractual terms.

Uploaded by

gaurang1111
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
140 views10 pages

Commercial Aspects of A Contract

The document outlines the key components and commercial aspects of a contract for a construction or infrastructure project. It discusses the general rules and regulations, contents of a tender document, types of contracts, technical aspects, and conditions that are typically included. These include the notice inviting tenders, instructions to bidders, general and special conditions, erection conditions, technical specifications, price schedule, bid proposal form, and other important contractual terms.

Uploaded by

gaurang1111
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 10

COMMERCIAL ASPECTS OF A CONTRACT

• INTRODUCTION
• GENERAL RULES & REGULATIONS
 Who can Sign Tender Form
 Opening, Acceptance & Rejection of Tenders
• NOTICE INVITING TENDERS
 Work to be Carried Out
 Submission, Opening Details, Time Allowed
 EMD/SD, Bid Availability and other Details
• CONTENTS OF A TENDER DOCUMENT
 NIT as Published, Brief Tender Notification.
 Bid Proposal Form, Instructions to Bidders
 Genera, Special & Erection Conditions
 Technical Spec, Drawings & Price Schedule
CONTRACTS, TYPES & COMMERCIAL ASPECTS

• What is a contract
– Bilateral agreement between two parties
– Undergoes several changes
• Agreement
– Parties must be competent
– Made by the free consent of partirs
– Made for some consideration
– Must be lawful
– Should be in writing & registered
• General principles of a contract
– Making a proposal
– Valid proposals
– Communication of proposals
– Must be certain & definite
– Make offers & invitation to offers
– Standing offers
– Acceptance of offers
– Standard forms of contract
• Various types of contract
– Supply
– Supply & construction
– Engineering, procurement & construction
– Engineering, procurement,construction, O & M
– Construction only
– Operation only
– Operation & Maintenance only
• Technical Aspects of a contract
– Extent & value
– Steps involved in taking up a project
– Mode of enquiry / NIT
– Prequalification requirements
– Technical requirements
– Engineering required for each equipment /
work viz sizing / rating / quantity
– Technical particulars to be met
– Performance guarantees
– Penalty / liquidated damages
– Efficiencies
– Capitalisation of losses
– Schedule of supply / erection
– Period of completion
– Examples of sizing / capacity fixing
• Batteries
• Auxiliary supply switchgear
• Turbo generating unit
• Thermal power plant
• Transformers
• BREIF TENDER NOTIFICATION
 Date of Submission, Opening of Bids
 Date & Time of Pre Bid Conference
 Cost of Bid/ Validity of offer/EMD
 Mode of Submission of Bids
• INSTRCUTIONS TO BIDDERS
 Scope, PQR, EMD, SD, Validity.
 Receipt & Opening of Bids, Documents to be Enclosed
 Award of Contract, Quality Assurance.
 Prices, Taxes & Duties, Quantities, Local Conditions
 Insurance, Maintenance Tools & Tackles.
 Proforma of EMD, Check List, PQR.

• GENERAL AND SPECIAL CONDITONS


 Definitions, Scope of Contract, SD, Sub vendors, Patent Rights
 Contract Price, Taxes & Duties, Completion Period.
 Delivery, Terms & Mode of Payments, Delays,Guarantee,
 Default, Termination, Proforma for Contract Agreement, SD, EMD etc.,

• ERECTION CONDITIONS
 Scope, Details of work, Testing & Inspection, Insurance
 Access to Site & Site Establishment
 Employment of Labour, Facilities
 Security, Material Handling & Storage.
 Planning & Measurement of Works, Completion & Handing Over.

• TECHNICAL CONDITIONS & DRAWINGS


 Scope of works in detail, Standards, GTPS
 Technical Details of Equipment & Work
 Survey, Work Plan.
 List of Materials & Drawings.
• PRICE SCHEDULE
• BID PROPOSAL FORM
• Post award works
– Detailed engineering
– Progress monitoring & co-ordination
– Inspection & testing
– Commissioning
– Performance tests / Taking over
– Documentation
• Some important conditions of tender
– Cost of bid document
– Earnest money deposit
– Security deposit
– Contract agreement
– Insurance
– Delivery period / completion period
– Penalty
– Terms of payment
– Guarantee
– Force majeure
– Termination of contract
– Power to vary or omit the works

You might also like