ORISSA POWER TRANSMISSION CORPORATION LTD.
REGD. OFFICE: JANPATH, BHUBANESWAR – 751 022,
ORISSA
ADDENDUM TO THE TENDER CALL NOTICE NO 41 & 42 /08-09

It is a mandatory requirement that the following Indemnity Bond should be incorporated in the Bid Documents.

ANNEXURE - XV

FORM OF INDEMNITY BOND TO BE EXECUTED BY THE CONTRACTOR FOR THE EQUIPMENT HANDED OVER.........(abbreviated name of the Employer)... FOR PERFORMANCE OF ITS CONTRACT.

INDEMNITY BOND

THIS INDEMNITY BOND is made this....... day of ....... 20 .........by.............. a Company registered under the Companies Act, 1956/ partnership firm/ proprietary concern having its Registered Office at ......(hereinafter called as 'Contractor' or "Obligor" which expression shall include its successors and permitted assigns) in favour of ..........(insert name of the Employer)........... ,a Company incorporated under the Companies Act, 1956 having its Registered Office at ......(insert registered address of the Employer) and its project at .................. (hereinafter called "..... (abbreviated name of the Employer)..... " which expression shall include its successors and assigns):

WHEREAS ... (abbreviated name of the Employer).... has awarded to the Contractor a Contract for ...............vide its Notification of Award/Contract No..................... dated......... and its Amendment No.............. (applicable when amendments have been issued) (hereinafter called the "Contract") in terms of which .....(abbreviated name of the Employer)....... is required to hand over various Equipment to the Contractor for execution of the Contract.

And WHEREAS by virtue of Clause No......... of the said Contract, the Contractor is required to execute an Indemnity Bond in favour of .....(abbreviated name of the Employer)....... for the Equipment handed over to it by .....(abbreviated name of the Employer)....... for the purpose of performance of the Contract/ Erection portion of the contract (hereinafter called the "Equipment").

AND THEREFORE, This Indemnity Bond witnesseth as follows:

1. That in consideration of various Equipment as mentioned in the Contract, valued at (amount in words.......................................................) handed over to the Contractor for the purpose of performance of the Contract, the Contractor hereby undertakes to indemnify and shall keep .....(abbreviated name of the Employer).......indemnified, for the full value of the Equipment. The Contractor hereby acknowledges receipt of the Equipment as per despatch title documents handed over to the Contractor duly endorsed in their favour and detailed in the Schedule appended hereto. It is expressly understood by the Contractor that handing over of the despatch title documents in respect of the said Equipments duly endorsed by .....(abbreviated name of the Employer).......in favour of the Contractor shall be construed as handing over of the Equipment purported to be covered by such title documents and the Contractor shall hold such Equipment in trust as a Trustee for and on behalf of .....(abbreviated name of the Employer).......


2. That the Contractor is obliged and shall remain absolutely responsible for the safe transit/ protection and custody of the Equipment at .....(abbreviated name of the Employer)....... project Site against all risks whatsoever till the Equipment are duly used/ erected in accordance with the terms of the Contract and the Plant/ Package duly erected and commissioned in accordance with the terms of the Contract, is taken over by .....(abbreviated name of the Employer)....... The Contractor undertakes to keep .....(abbreviated name of the Employer)....... harmless against any loss or damage that may be caused to the Equipment.


3. The Contractor undertakes that the Equipment shall be used exclusively for the performance/ execution of the Contract strictly in accordance with its terms and conditions and no part of the equipment shall be utilised for any other work of purpose whatsoever, it is clearly understood by the Contractor that non-observance of the obligations under this Indemnity Bond by the Contractor shall inter-alia constitute a criminal breach of trust on the part of the Contractor for all intents and purpose including legal/ penal consequences.


4. That .....(abbreviated name of the Employer)....... is and shall remain the exclusive owner of the Equipment free from all encumbrances, charges or liens of any kind, whatsoever. The equipment shall at all times be open to inspection and checking by the Employer or Employer's Representative in this regard. Further .....(abbreviated name of the Employer).......shall always be free at all times to take possession of the Equipment in whatever form the equipment may be, if in its opinion, the Equipment are likely to be endangered, misutilised or converted to uses other than those specified in the Contract, by any acts of omission or commission on the part of the Contractor or any other person or on account of any reason whatsoever and the Contractor binds himself and undertakes to comply with the directions of demand of .....(abbreviated name of the Employer)....... to return the equipment without any demur or reservation.


5. That this Indemnity Bond is irrevocable. If at any time any loss or damage occurs to the Equipment or the same or any part thereof is misutilised in any manner whatsoever, then the Contractor hereby agrees that the decision of the Employer's Representative as to assessment of loss or damage to the Equipment shall be final and binding on the Contractor. The Contractor binds itself and undertakes to replace the lost and/or damaged Equipment at his own cost and/ or shall pay the amount of loss to .....(abbreviated name of the Employer)....... without any demur, reservation or protest. This is without prejudice to any other right or remedy that may be available to .....(abbreviated name of the Employer)....... against the Contractor under the Contract and under this Indemnity Bond.


6. NOW THE CONDITION of this Bond is that the Contractor shall duly and punctually comply with the terms and conditions of this Bond to the satisfaction of .....(abbreviated name of the Employer)......., THEN, the above Bond shall be void, but otherwise, it shall remain in full force and virtue, till the completion & satisfactory handing over of the project, in terms of the contract. IN WITNESS WHEREOF, the Contractor has hereunto set its hand through its authorized representative under the common seal of the Company, the day, month and year first above mentioned.

SCHEDULE

Indemnity Bonds are to be executed by the authorised person and (i) in case of contracting Company under common seal of the Company or (ii) having the power of attorney issued under common seal of the company with authority to execute Indemnity Bond, (iii) In case of (ii), the original Power of Attorney if it is specifically for this Contract or a Photostat copy of the Power of Attorney if it is General Power of Attorney and such documents should be attached to Indemnity Bond.

It is a mandatory requirement that the following Trusteeship Receipt should be incorporated in the Bid Documents.

ANNEXURE - XVI

FORM OF TRUSTEESHIP RECEIPT FOR PLANT, EQUIPMENT AND MATERIALS RECEIVED.

We M / s...................(insert name of the Contractor)................. having our Principal place of business at ................................having been awarded a Contract No............... date...............................for .................(insert Package name along with name of the Project) ..................................................by .................(insert name of the Employer).................... We do hereby acknowledge the receipt of the Plant, Equipment and Materials as are fully described and mentioned under Documents of Title/ RR/ LR etc. and in the schedule annexed hereto, which shall form an integral part of this receipt as "Trustee" of .......................(insert name of the Employer) ................ The aforesaid materials etc. so received by us shall be exclusively used in the successful performance of the aforesaid Contract and for no other purpose whatsoever. We undertake not to create any charge, lien or encumbrance over the aforesaid materials etc, in favour of any other person/ institution(s)/ Bank.

		For M/s.. . . . . . . . . . . . . . . . . . . . .
		(Contractor’s Name)
Date : . . . .. . . . . . . . . . . .		(AUTHORISED SIGNATORY)
Place : . ... . . . . . . . . . . . .		SEAL OF COMPANY