1.2.4 GM(CONSTRUCTION/OPERATIONS) HEAD OFFICE PROCESS THE IPC FOR APPROVAL BY MEMBER (OPERATIONS) Member (Operation) will approve the payment of IPC based upon the submission by the contractor, verification and correctness of the IPC in accordance with contractual provisions by the consultant and authentication by the Project Director and the General Manager (Construction/Operations). The approved case shall be forwarded by Member (Operation) to the concerned Assistant Director (Accounts), with a copy to the computer section the Finance Wing for recording of the IPC in the liability list and for issuance of a control number, to the Accounts Section and the office of General Manager (Construction/Operations). Status of the PC-I Allocations (PSDP) and expenditures Source of funding, if PSDP is not available along with approval of the Member (Finance). Commencement Date. Validity of time extension. Approved Variation Orders or status / time frame. Recovery of MOB Advance. Validity of Bank Guarantees. Ensure that the requirements as per SOP have been completed 100% by the contractor, consultant and the Project Director. Intimation of the due date for payment as per contract provision. Submit to Member (Operations) for approval. The General Manager (Construction/Operations) office will ensure to forward the approved case to Accounts Section at seven days before the due date. 1.2.5 MEMBER (OPERATIONS) TO SEND SUMMARY SHEET CONVEYING APPROVAL FOR PROCESSING THE PAYMENT Member (Operations) will approve the payment of IPC based upon the submission by the contractor, verification and correctness of the IPC in accordance with contractual provisions by the consultant and authentication by the Project Director and the General Manager (Construction/Operations). The approved case shall be forwarded by Member (Operation) to the concerned Assistant Director (Accounts), with a copy to the computer section of the Finance Wing for recording of the IPC in the liability list and for issuance of a control number, to the Accounts Section and the office of General Manager (Construction/Operations).
1.2.4 GM(CONSTRUCTION/OPERATIONS) HEAD OFFICE PROCESS THE IPC FOR APPROVAL BY MEMBER (OPERATIONS) Member (Operation) will approve the payment of IPC based upon the submission by the contractor, verification and correctness of the IPC in accordance with contractual provisions by the consultant and authentication by the Project Director and the General Manager (Construction/Operations). The approved case shall be forwarded by Member (Operation) to the concerned Assistant Director (Accounts), with a copy to the computer section the Finance Wing for recording of the IPC in the liability list and for issuance of a control number, to the Accounts Section and the office of General Manager (Construction/Operations). Status of the PC-I Allocations (PSDP) and expenditures Source of funding, if PSDP is not available along with approval of the Member (Finance). Commencement Date. Validity of time extension. Approved Variation Orders or status / time frame. Recovery of MOB Advance. Validity of Bank Guarantees. Ensure that the requirements as per SOP have been completed 100% by the contractor, consultant and the Project Director. Intimation of the due date for payment as per contract provision. Submit to Member (Operations) for approval. The General Manager (Construction/Operations) office will ensure to forward the approved case to Accounts Section at seven days before the due date. 1.2.5 MEMBER (OPERATIONS) TO SEND SUMMARY SHEET CONVEYING APPROVAL FOR PROCESSING THE PAYMENT Member (Operations) will approve the payment of IPC based upon the submission by the contractor, verification and correctness of the IPC in accordance with contractual provisions by the consultant and authentication by the Project Director and the General Manager (Construction/Operations). The approved case shall be forwarded by Member (Operation) to the concerned Assistant Director (Accounts), with a copy to the computer section of the Finance Wing for recording of the IPC in the liability list and for issuance of a control number, to the Accounts Section and the office of General Manager (Construction/Operations).
SOP-for-payments-to-contrctors-consultants-by-Finance-Wing.docx