The corporation shall have the right to invoke the bank guarantee at any time, if the licensee defaults in payment of monthly contract amount or penalty, or for breach of any terms and conditions of the agreement and to adjust the realized amount towards the due amounts payable to the corporation. AGREEMENT & LICENSE PERIOD: The successful tenderer shall enter into an agreement with the Corporation duly paying requisite stamp duty as per the provision of the Indian Stamp Act within 30 days from the date of issue of allotment letter. The license period invariably commences with effect from 31st day of issue of allotment letter. PAYMENT OF LICENCE FEE (CONTRACT AMOUNT): The licensee shall be given 3 months lead period to enable to obtain necessary permissions/licenses and to erect the GBMs. The licensee shall pay the license fee plus applicable service tax from the 4th month from the date of commencement of license period or from the date of commencement of business whichever is earlier. The licence fee shall be enhanced @ 5% per year from the 2nd year onwards. The Licensee shall pay monthly licence fee plus applicable service tax in advance on or before 10th day of every month to the Chief Commercial Manager, Bus Bhavan through a Demand Draft drawn in favour of the Financial Adviser, APSRTC, Musheerabad, Signature of the tenderer. The Licensee shall pay the licence fee to the corporation, without any deductions including T.D.S. In other words, the amount quoted in the Tender / agreed to be paid to the corporation towards the contract shall be paid in toto. In the of delay in payment of monthly licence fee, the Licensee is liable to pay penalty for each day of delay beyond the due date at 36% per annum, in addition to the instalment amount. The licence fee is exclusive of electricity and water (if used by the licensee) charges. Taxes applicable shall be paid extra. If the Licensee to pay the monthly licence fee for three consecutive months, or fails to pay the monthly licence fee within stipulated period, thrice during the course of a calendar year or commits breach of any conditions of the agreement, the Corporation shall have the right to terminate the contract. In case of termination of contract due to breach of terms and conditions of the agreement, corporation shall have the right to adjust the deposits (security
The corporation shall have the right to invoke the bank guarantee at any time, if the licensee defaults in payment of monthly contract amount or penalty, or for breach of any terms and conditions of the agreement and to adjust the realized amount towards the due amounts payable to the corporation. AGREEMENT & LICENSE PERIOD: The successful tenderer shall enter into an agreement with the Corporation duly paying requisite stamp duty as per the provision of the Indian Stamp Act within 30 days from the date of issue of allotment letter. The license period invariably commences with effect from 31st day of issue of allotment letter. PAYMENT OF LICENCE FEE (CONTRACT AMOUNT): The licensee shall be given 3 months lead period to enable to obtain necessary permissions/licenses and to erect the GBMs. The licensee shall pay the license fee plus applicable service tax from the 4th month from the date of commencement of license period or from the date of commencement of business whichever is earlier. The licence fee shall be enhanced @ 5% per year from the 2nd year onwards. The Licensee shall pay monthly licence fee plus applicable service tax in advance on or before 10th day of every month to the Chief Commercial Manager, Bus Bhavan through a Demand Draft drawn in favour of the Financial Adviser, APSRTC, Musheerabad, Signature of the tenderer. The Licensee shall pay the licence fee to the corporation, without any deductions including T.D.S. In other words, the amount quoted in the Tender / agreed to be paid to the corporation towards the contract shall be paid in toto. In the of delay in payment of monthly licence fee, the Licensee is liable to pay penalty for each day of delay beyond the due date at 36% per annum, in addition to the instalment amount. The licence fee is exclusive of electricity and water (if used by the licensee) charges. Taxes applicable shall be paid extra. If the Licensee to pay the monthly licence fee for three consecutive months, or fails to pay the monthly licence fee within stipulated period, thrice during the course of a calendar year or commits breach of any conditions of the agreement, the Corporation shall have the right to terminate the contract. In case of termination of contract due to breach of terms and conditions of the agreement, corporation shall have the right to adjust the deposits (security
revised%20tender%20document%20for%20GBMs%20Mar'2015.docx