property TEN MILLION (KES. 5,000,000.00) 4. The minimum cover for personal injury or death insurance For the Contractor’s AS PER WORK INJURY employees BENEFITS TEN MILLION (KES. And for other people 5,000,000.00) The period between program updates (In FOURTEEN (14) DAYS days) The amount to be withheld for late FIFTY THOUSAND ( KES. 50,000.00) submission of an updated Program The proportion of payment to be retained (in 10% Percent) The Price Adjustment Clause (Shall/shall not SHALL NOT APPLY apply) The liquidated damages for the whole of the (KES. 200,000.00) works in Ksh (per week) Maximum Limit of liquidated damages 10% of Contract Value Performance Security (as a percentage of the 10% of Contract Value Contract Price) Completion Period for the works (in weeks) 12WEEKS The rate of exchange for calculation of The ruling interbank market rate on foreign currency payments the date of actual payment Advance payment (Shall/Shall not be NOT APPLICABLE TO THIS granted) TENDER Percentage of Retention(Of the Interim 10% of Interim Payment Certificate Payment Certificate) Maximum Limit of Retention Money 10 % of Contract Price Minimum amount of interim certificates 2% of Contract Price Time (in days) after which payment is to be 30 days made after Interim Payment Certificate signed by Project Manager and date of receipt of Invoice. Time after which payment to be made after 60 days Final Payment Certificate signed by Project Manager and date of receipt of Invoice.
property 4. The minimum cover for personal injury or death insurance For the Contractor’s employees And for other people TEN MILLION (KES. 5,000,000.00) AS PER WORK INJURY BENEFITS TEN MILLION (KES. 5,000,000.00) The period between program updates (In days) FOURTEEN (14) DAYS The amount to be withheld for late submission of an updated Program FIFTY THOUSAND ( KES. 50,000.00) The proportion of payment to be retained (in Percent) 10% The Price Adjustment Clause (Shall/shall not apply) SHALL NOT APPLY The liquidated damages for the whole of the works in Ksh (per week) (KES. 200,000.00) Maximum Limit of liquidated damages 10% of Contract Value Performance Security (as a percentage of the Contract Price) 10% of Contract Value Completion Period for the works (in weeks) 12WEEKS The rate of exchange for calculation of foreign currency payments The ruling interbank market rate on the date of actual payment Advance payment (Shall/Shall not be granted) NOT APPLICABLE TO THIS TENDER Percentage of Retention(Of the Interim Payment Certificate) 10% of Interim Payment Certificate Maximum Limit of Retention Money 10 % of Contract Price Minimum amount of interim certificates 2% of Contract Price Time (in days) after which payment is to be made after Interim Payment Certificate signed by Project Manager and date of receipt of Invoice. 30 days Time after which payment to be made after Final Payment Certificate signed by Project Manager and date of receipt of Invoice. 60 days