Chapter 15 Contract management
---> Indian Contract Act, 1872 deals with all types of Contracts. Section 2(h) of the Indian Contract Act, 1872 defines the term Contract as “An agreement enforceable by law”
---> Agreements of social or domestic nature are not contracts.
---> different Acts
-- Indian Contracts Act, 1872;
-- Arbitration and Conciliation Act, 1996 read with The Arbitration and Conciliation
(Amendment) Act, 2015;
-- The Information Technology Act, 2000
-- Right to Information (RTI) Act 2005;
---> The purchase order shall be deemed as 'Contract'.
---> Earnest Money Deposit (EMD)/ Bid Security" means an amount required to be deposited by the bidder/ tenderer along with his offer as a security against his default of entering into contract.
---> CPPP-- CENTRAL PUBLIC PROCUREMENT PORTAL
---> GEM-Govt eMarket Place
---> Award of work order –Circle head(5 Cr), SSA head(3 Cr)
---> Award of work order through limited tender- Goods –Rs 25 lakh and for service- Rs 10 lakh – on each occasion –limited to 3Cr per year
---> Acceptance of single tender –Circle head(2 lakh), SSA head(1 lakh)
---> Procurement of eqpt spares without quotation—Circle head (Rs 25000), SSA head (Rs 15000)
---> The number of supplier firms in limited tender enquiry should be more than three in case of procurement of goods & not less than six in case of works or services.
---> The requirement of compulsory advertisement in News papers as per GFR 2005
has been dispensed
---> The time restriction for arbitral tribunals to make their award within a period of 12 months is removed for international commercial arbitrations -- The time limit to file written claim and the defence to the claim before an arbitral tribunal has been fixed as six months-- After 3 months of
receipt of award by opposite party, award will become DECREE. -- The parties are free to determine the number of arbitrators, provided that such number shall not be an even number. -- The arbitral tribunal shall not be bound by the Code of Civil Procedure or the Indian Evidence Act.
---> If without sufficient cause, claimant fails to communicate his statement of claim, Arbitrator shall terminate the Proceedings, while, b) If respondent fail to communicate his statement of defence, Arbitrator shall continue the proceedings
---> The arbitral proceedings shall be terminated by the Final ArbitrationAward.
---> The conciliator is not bound by Code of Civil Procedure or the Indian Evidence Act.
---> The parties shall not initiate, during the conciliation proceedings, any arbitral or judicial proceedings in respect of a dispute that is the subject-matter of the conciliation proceedings