, SBD (Standard Bidding Document) (Conditions of 2 (
| Sl. No. | Clause | Provision as per Old Standard Bid Document of WRD | Provision in Revised Standard Bid Document |
| 1 Section-3 (Conditions of Contract) | |||
| 51. | Advance Payment | Extension of the Intended Completion Date | |
| The Employer shall make advance payment to the Contractor of the amounts stated in the Contract Data by the date stated in the Contract Data, against provision by the Contractor of an Unconditional Bank Guarantee in a form and by a bank acceptable to the employer in amounts and currencies equal to the advance payment. The guarantee shall remain effective until the advance payment has been repaid, but the amount of guarantee shall be progressively reduced by the amounts repaid by the Contractor. Interest will not be charged on the advance payment. | "The Employer shall make advance payment to the Contractor of the amounts stated in the Contract Data by the date stated in the Contract Data, against provision by the Contractor of an Unconditional Bank Guarantee in a form and by a bank acceptable to the employer in amounts and currencies equal to the advance payment. The guarantee shall remain effective until the advance payment has been repaid. But the amount of guarantee shall be progressively reduced by the amounts repaid by theContractor. Interest will be charged @ 10% quarterl compounded. The interest will be charged with the installment of recovery of mobilization advance." |
Equipment Advance
Standard Bidding Document