Short note on Earnest Money ( Hindi English)

EARNEST MONEY

(I) It is a security against loss in the event of the contractor failing to undertake the contract or to furnish the required security within the appointed time after acceptance of his tender, or until such time as the sums due to him form a sufficient guarantee.

(II) Amount of Earnest Money:

The tenderer shall be required to deposit earnest money along with the tender as a guarantee for the due performance of the conditions of the tender and to keep the offer open till such date as specified in the tender. The earnest money shall be 2% of the estimated tender value as indicated in the tender notice. The amount shall be rounded to the nearest ₹10. This earnest money requirement shall be applicable for all modes of tendering.

Railway Budget & Key components After Merger with Union Budget

Railway Budget:

Until 2016, the Railway Budget was published annually, a few days well before the Union Budget. But after2016 The Railway Budget was merged with the general budget .The first combined budget was presented in parliament on 1 February 2017.

The Railway Budget is a financial statement presented by the government of a India that outlines the budgetary allocations, plans, and policies related to the railway sector. The budget specifically focuses on the financial aspects of the railway system, including revenue generation, expenditure, infrastructure development, modernization, and other related projects. The Railway Budget is usually presented along with the overall national budget.

विलम्ब शुल्क एवं स्थान शुल्क (Wharfage & Demurrage)

 विलम्ब शुल्क एवं स्थान शुल्क 

परिभाषाए 

विलम्ब शुल्क 

स्टेशन पर माल गोदाम या साइडिंग में लदान या उतराई के लिए दिये गये अनुमत समय (फ्री समय ) के पश्चात् पार्टी के व्दारा वैगनो को रोके रखने के लिए रेलवे के व्दारा जो चार्ज वसूल किया जाता है उस विलम्ब शुल्क कहा जाता है।विलम्ब की गणना करते समय 26 जनवरी 15 अगस्त और रविवार को अनुमत समय में नही गिना जाता है विलम्ब शुल्क लगाने का उद्देश्य यह है कि व्यापारी रेलवे माल डिब्बो को शीघ्रता से रिलीज करे

Short note on BOT / BOOT Schemes

 BOT / BOOT Schemes - 

Build–operate–transfer (BOT) or build–own–operate–transfer (BOOT) is a form of project financing, wherein a private entity receives a concession from the private or public sector to finance, design, construct, and operate a facility stated in the concession contract. This enables the project proponent to recover its investment, operating and maintenance expenses in the project. 

Short Note on Security Deposit

SECURITY DEPOSITS

(I) Amount of Security deposits are to be paid by the contractor for the due fulfilment of contracts. The security deposit/rate of recovery/mode of recovery on acceptance of tender shall be as under :

a. These security deposit for each work will be 5% of the contract value.

b. The rate of recovery will be at the rate of 10% of the bill amount till the full security amount is recovered.

Short Note on Zonal Work Contracts

Zonal Work Contracts : 

These zonal work contracts mostly cover new works, ordinary repairs and maintenance works in particular zone/area costing over Rs. 100,000. The zonal contracts are generally for one year and are awarded for each sub-division headed by Asstt. Engineer or Division is headed by Senior Scale or Junior Administrative grade officer. These are based on % above/below schedule of Rates. These have been adopted on a lumpsum amount of estimated cost of works during the year and the overall value of works to be done is specified. A work order is to be issued for each item of work to entrusted to the contractor.