AGREEMENT
Agreement must be submitted for the due performance of the contract. It should be on the stamp paper and should be stamped with an adhesive stamp of value as per Mumbai stamp act 1958.It should be signed before First/Second class magistrate / oath commissioner or notary public. (If the security deposit is nil Stamp duty = Rs 20 /- .And if S.D. is submitted - Stamp duty = Rs 3% of the S.D. for first 20000/- , Rs 4% for the next 20000/- and Rs 5% above Rs 40000/-)
Agreement should be valid for 18 months.
FORMAT OF AGREEMENT
An Agreement made this ...(Day)... day of.......(Month) ................................... Two Thousand and .......(Year)................... between .....(Name of the Supplier).............(hereinafter called " the contractor") of the one part and the Director ,Directorate of Technical Education M.S. ,Mumbai , Government of Maharashtra (hereinafter called "the Government"). of the other part.
Whereas the contractor has tendered to the Government for supply to the Purchasing officer (hereinafter called The Director) as per delivery instructions given in the acceptance of tender at the respective prices or rates mentioned opposite to the said articles in the column provided for the purpose and whereas such tender has been accepted and the contractor has deposited with the Directorate a sum of Rs ......../-(Rs. ...(Amount of Security Deposit).......... in ...(Form in Which Security Deposit is paid, e.g. D. D., Bank Guarantee etc.).....)only as a security for due fulfillment of this agreement.
Now it is hereby agreed between the parties hereto as follows.
1) the contractor has accepted the contract on the terms and conditions set out in the tender notice No .......................... dated...............................as well in the acceptance of tender No. ....................................................... dated ..................... . which will hold good during period of this agreement.
2) Upon breach by the contractor of any of the conditions of the agreement , the Director may by a notice in writing cancel, determine and put an end to this agreement without prejudice to the right of the Government to claim damages for antecedent breaches thereof on the part of the contractor and also to reasonable compensation for the loss occasioned by the failure of the contractor to fulfill the agreement as certified in writing by the Director which certificate shall be conclusive evidence of the amount of such compensation payable by the contractor to the Government .
3) Upon the determination of this agreement whether by effluxion of time or otherwise the said deposit shall after the expiration of 18 (eighteen) months from the date of such determination be returned to the contractor but without interest and after deducting there from any sum due by the contractor to the government under the terms and conditions of this agreement.
4) This agreement shall remain in force until the expiry of the date of delivery of materials but notwithstanding herein or in the tender and acceptance forms contained the Government shall not be bound to take the whole or any part of the estimated quantity herein or therein mentioned and may cancel the contract at any time upon giving one month's notice in writing without compensating the contractor.
5)In witness whereof the said....(Name of the Firm.)......hath set his hand hereto and has on behalf of the government of Maharashtra affixed his hand and seal hereto the day and year first above written.
6) Notices in connection with the contract may be given by the Director or any gazetted officer authorized by the Director.
7)If subject to circumstances beyond control (force major) the contractor fails to deliver the stores in accordance with the conditions mentioned in the A/T, the Director shall, at his option be entitled either :-
a) to recover from the contractor as agreed liquidated damages or by way of penalty a sum not exceeding 1/2 per cent of the price of the stores which the contractor has failed to deliver as aforesaid for each week or part of a week during which the delivery of such stores may be in arrears, or
b) to purchase elsewhere, after giving due notice to the contractor on the account and at the risk of the contractor the stores not delivered or others of a similar description (where other exactly complying with the particulars are not , in the opinion of the Director which shall be final, readily procurable) without canceling the contract in respect of consignment not yet due for delivery ,or
c) to cancel the contract.
8) In the event of action being taken under (a) (b) or (c) the contractor shall be liable for any loss which the Director may sustain on that account .
The recovery on account of agreed liquidated damages or by way of penalty under (a) above will be made by deducting the amount in the bills and the recovery of any loss, which the Director may sustain under (b) and (c ) should be made good by a credit note within the stipulated period for the purpose.
Bombay.
Witness.
1. ...................................................................
2.....................................................................
Contractor, (Signature)
Director, on behalf of the .....(Full Name).....................
Government of Maharashtra , Mumbai. .......(Name of the Firm).........