THIS AGREEMENT made at ___this _____day of__________, 2001, by and between___________________having its principal place of business at___, hereinafter called the Contractor, of ONE PART and ________________________having its office at___, hereinafter called the Owner of the OTHER PART.
The work to be performed under this Contract shall be commenced on or before________________, 19____, and shall be substantially completed on or before________________, 200__. Time is of the essence.
The Owner shall pay the Contractor for the material and labor to be performed under the Contract the sum of Rs______________, subject to additions and deductions pursuant to authorised change orders.
1. All work shall be completed in a workmanship like manner and in compliance with all building codes and other applicable laws.
2. To the extent required by law all work shall be performed by individuals duly licensed and authorised by law to perform said work.
3. Contractor may at its discretion engage subcontractors to perform work hereunder, provided Contractor shall fully pay said subcontractor and in all instances remain responsible for the proper completion of this Contract.
4. Contractor shall furnish Owner appropriate releases or waivers of lien for all work performed or materials provided at the time the next periodic payment shall be due.
5. All change orders shall be in writing and signed by both Owner and Contractor.
6. Contractor warrants it is adequately insured for injury to its employees and others incurring loss or injury as a result of the acts of Contractor or its employees and subcontractors.
7. Contractor shall at its own expense obtain all permits necessary for the work to be performed.
8. Contractor agrees to remove all debris and leave the premises in broom clean condition.
9. In the event Owner shall fail to pay any periodic or installment payment due hereunder, Contractor may cease work without breach pending payment or resolution of any dispute.
10. All disputes hereunder shall be resolved by binding arbitration in accordance with the Arbitration and Conciliation Act, 1996 or the prevailing act.
11. Contractor shall not be liable for any delay due to circumstances beyond its control including strikes, casualty or general unavailability of materials.
12. Contractor warrants all work for a period of__________months following completion.
N WITNESS WHEREOF, the parties have hereunto set their respective hands and seals the day and year first hereinabove written.