25.0. 26.0 27.0 Advance Payment and Recovery thereof. (i) In case successful bidder desires to have some advance payment, a maximum of 10% of basic value of contract(for supply portion only excluding taxes and duties) may be feleased, Such advance payment shall be interest bearing which shall be at simple interest at State Bank of India Base Rate plus margin of 475 basis points as on 28 days prior to Bid Submission date calculated on daily basis. (i) The Contractor shall be required to submit Bank Guarantee (as per Format Annexure-IX of this Section) equivalent to 115% value of the advance which shall be valid up to the end of ninety (90) days after the scheduled date for successful completion of the supplies. The Advance Payment Security shall be allowed to be reduced every three (3) months, in proportion to the value of Invoice raised by the Contractor as per ‘Terms of Payment’ and accepted by the Employer. The Security shall automatically become null and void and Gischiargea when the Security Amount nas reached to zero. (il) As may be required under the contract, the Bank Guarantee shall be extended by the Contractor from time to time till full recovery of advance/completion of supplies otherwise all balance amount and interest shall be recovered from any form of payment due or PBG submitted by the firm, (iv) Th ease model test report is net accepted by the employer and Contract is terminated, this Bank Guarantee shall be encashed for the amount of advance drawn by the firm along with interest thereon. (v) Recovery of such advance paid to the firm shall be in six equal installments with interest upto the date of recovery of each installment which shall be made out of 80% payment against supply of each set of runner, which shall be released through LC as per Clause 24.0 above, BILL OF QUANTITIES: ‘The equipment, tools, spares to be supplied under the Contract are given in the Bill of Quantities forming Annexure-I of these "Special Conditions of Contract”. However the bidder is required to suitably cover/incorporate all of these items of equipment and spares, in the respactive Price Schedule as oor their arranaamant, Tha Bidder chall read the ‘Technical Specifications and other Bidding documents and drawings to ascertain the full Scope of Work included in each item while filling in the rates and prices. GCC Clause 27 Defect liability GCC clause 27,7- ‘The Contractor shall depute, initially, for first 50% of the time of Defect Liability Period of first set of Runner, at site one coordinator and sufficient number of Supervisors/skilled ata REM Pagers OFT