submission of bids for the Contract and the date of the last Completion certificate. The adjustment shall be the change in the amount of tax payable by the Contractor, provided such changes are not already reflected in the Contract Price. 44. Currencies 44.1 All payments shall be made in Indian Rupees. 45. Price 45.1 Contract price shall be adjusted for increase or decrease in rates Adjustment and price of labour, materials, fuels and lubricants and other inputs to the works in accordance with the principles and procedures outlined below. A table of adjustment data is included in the PCC which indicates the coefficients of various inputs and the sources of indices for various schedules of BOQ. If the PCC does not include a table of adjustment data this sub clause shall not apply and there shall be no price adjustment. (a) The price adjustment according to sub para (d) below, shall apply for the work done from the start date given in the PCC upto the end of the Intended Completion Date. If there is delay in completion beyond such date for reasons attributable to the contractor, the Price Adjustment for the work carried out during such period, for reasons attributable to the Contractor, shall be regulated by sub-para (g) below. (b) The Contract Price shall be adjusted to take account of any increase or decrease in cost after the base date, which affect the Contractor in performance of obligations under the Contract. (c) The total value (R) of the work done during the specified period [GCC 40.1] shall be as under: R= SUM (RS1 + RS2 + RS3 + …….RSn), Where, is the value of work done during the specified ‘Rsn’ period to which the price adjustment shall be applied for the relevant schedule of Bill of Quantities (BOQ) specified in P.C.C during the specified period, and represented as under: Rsn = (Vsn + Ssn) minus (amount of secured advance recovered in the same period + value of works executed under variations for which price adjustments will be worked separately based on
submission of bids for the Contract and the date of the last Completion certificate. The adjustment shall be the change in the amount of tax payable by the Contractor, provided such changes are not already reflected in the Contract Price. 44. Currencies 44.1 All payments shall be made in Indian Rupees. 45. Price Adjustment 45.1 Contract price shall be adjusted for increase or decrease in rates and price of labour, materials, fuels and lubricants and other inputs to the works in accordance with the principles and procedures outlined below. A table of adjustment data is included in the PCC which indicates the coefficients of various inputs and the sources of indices for various schedules of BOQ. If the PCC does not include a table of adjustment data this sub clause shall not apply and there shall be no price adjustment. (a) The price adjustment according to sub para (d) below, shall apply for the work done from the start date given in the PCC upto the end of the Intended Completion Date. If there is delay in completion beyond such date for reasons attributable to the contractor, the Price Adjustment for the work carried out during such period, for reasons attributable to the Contractor, shall be regulated by sub-para (g) below. (b) The Contract Price shall be adjusted to take account of any increase or decrease in cost after the base date, which affect the Contractor in performance of obligations under the Contract. (c) The total value (R) of the work done during the specified period [GCC 40.1] shall be as under: R= SUM (RS1 + RS2 + RS3 + …….RSn), Where, ‘Rsn’ is the value of work done during the specified period to which the price adjustment shall be applied for the relevant schedule of Bill of Quantities (BOQ) specified in P.C.C during the specified period, and represented as under: Rsn = (Vsn + Ssn) minus (amount of secured advance recovered in the same period + value of works executed under variations for which price adjustments will be worked separately based on
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