Implimentation of Contract Clauses: Presentation by Sri. S. Sreekumar GM (Engg), Ner
Implimentation of Contract Clauses: Presentation by Sri. S. Sreekumar GM (Engg), Ner
Implimentation of Contract Clauses: Presentation by Sri. S. Sreekumar GM (Engg), Ner
CLAUSES
Presentation
by
SRI. S. SREEKUMAR
GM(ENGG), NER
Dt. 09-09-11 1
Contract is a legally enforceable agreement
between two or more parties with mutual
obligations, which may or may not have elements
in writing.
The elements of a contract are mutual assent
and consideration.
The remedy at law for breach of contract is
usually “damages” or “monetary” compensation.
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Agreement: -
Every promise and every set of promises
forming the consideration for each other is an
agreement.
A person makes a proposal or offer. When it is
accepted by other it becomes a promise.
Promise cannot be one sided. Only a mutual
promise forming consideration for each other is
agreement.
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The Indian Contract Act 1872
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All agreements are contracts if they are made
by the free consent of parties competent to
contract, for a lawful consideration and with a
lawful object and are not hereby expressly
declared to be void.
Acceptance of contract conditions must be
absolute.
Acceptance of offer is complete only when it is
absolute and unconditional.
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Steps involved in contract
Proposal and its communication.
Acceptance of proposal and it’s
communication.
Agreement by mutual promises.
Contract
Performance of contract
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Essential requirements of a valid contract
Offer and its acceptance.
Free consent of both parties.
Mutual and lawful consideration for
agreement
It should be enforceable by law.
Parties should be competent to contract
Object should be lawful
Certainty and possibility of performance
Contract should not have been declared as
void under contract Act or any other law. 8
Implimentation of Contract clauses
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Obligations of the department
Signing agreement and providing copy of
agreement to the contractor.
Handing over of site.
Acceptance of time and progress chart.
Supervision and Measurement of work.
Payment of bills.
Principle Employer.
Approval of Drawings and sample of materials.
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Any contract have basically three Dimensions
Time.
Quantity.
Quality.
External Environment
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