General Commercial Terms of the coil upneder project for Indian Steel
General Commercial Terms and Conditions (Scope of Imported Supply)
1.1. “Basic Price” shall mean price without any taxes and duties, as applicable.
1.2. “Client” shall mean ………who has signed the Main Contract Agreement with the Purchaser for the execution of the Facilities at the designated Site.
1.3. “Main Contract” is the contract agreement signed between the Purchaser and the Client for execution of the Facilities.
1.4. “Facilities” shall mean the plant, equipment and the associated facilities to be installed and executed at Site under the Main Contract.
1.5. “Project” shall mean the …………………..project at Site for which the Vendor has submitted their techno-commercial and price offer in conformity with Vendor’s Scope of Supply and the requirement of the Purchase Enquiry Specification.
1.6. “Site” shall mean the place of execution of the Scope of Supply by the Vendor under this Purchase Agreement.
1.7. “Purchaser” shall mean the Company incorporated under the laws of India and having its registered office at L&T House, Narottam Morarjee Marg, Ballard Estate, Mumbai –400001,India having its Metallurgical and Material Handling, such as coil tilter, coil upender Independent Company Headquarters at Godrej Water Side, Tower II, 11th Floor, DP – 5,Sector – V, Salt Lake, Kolkata – 700 091.
1.8. “Vendor” shall mean Company incorporated under the laws of India and having its registered office at……………………….
1.9. “Sub-Vendor” shall mean the person, firm or corporation who supplies the Vendor with materials, machinery, tools, supplies, equipment, articles, items and other work or services that are used by the Vendor in connection with the Purchase Agreement, and shall include its legal successors or permitted assignees.
1.10. “Scope of Imported Supply (Work)” shall mean the work to be executed as per the contractual provisions of the Purchase Agreement and in conformity with the Purchase Enquiry Specification.
1.11. “LOI” shall mean the Letter of Intent, issued by the Purchaser about the intension of the Purchaser to the Vendor to enter into this coil upender Purchase Agreement for the intended Scope of Imported Supply.
1.12. “Effective Date of Purchase Agreement” shall mean the contractual obligations as defined in this Purchase Agreement.
1.13. “Purchase Enquiry Specification” shall mean PR No…..dated ……issued to Vendor by the Purchaser (PR).
1.14. “Purchase Agreement” shall mean the complete set of documents as stipulated in the relevant clause, mentioned hereinafter.
1.15. “Price“ shall mean the lump sum fixed price , quoted by the Vendor for undertaking of all contractual obligations under the Scope of Imported Supply of the Purchase Agreement and coil upender Purchase Enquiry Specification which shall have the validity till the Defect Liability Period .
Tags: coil tilter, coil upender, upender