Section 52: Procurement Contract and Terms and Conditions Thereof

1) In making procurement other than for low-value items, in accordance with this Act, the Public Entity shall have to conclude a procurement contract in accordance with this Section.

2) The procurement contract under sub-section (1) shall include the terms and conditions as referred to in the bidding documents, documents relating to the proposal and documents relating to sealed quotation, and such terms and conditions may, according to the nature of the contract, be the following:

(a) Name and address, telephone, fax number of the parties to the procurement contract and their contact person for implementation of the contract,

(b) Scope of the procurement contract,

(c) Details of the documents included in the procurement contract and their priority order,

(d) Work performance schedule,

(e) Supply time, performance time or whether time can be extended or not,

(f) Procurement contract amount or procedure for determining it,

(g) Terms and conditions for acceptance of goods, construction work or services,

(h) ¹……. Terms and methods of payment, including payment in foreign currency,

(i) Force majeure,

(j) If price adjustment can be made, provision thereof,

(k) If a procurement contract can be amended and a variation order can be issued, provision thereof,

(l) If insurance is necessary, provision relating thereto,

(m) Security required,

(n) Liquidated damages for failure of performance within the stipulated time,

(o) Provision concerning a bonus to be given if work is completed before the stipulated period,

(p) Conditions under which the procurement contract may be terminated,

(q) Provision whether sub-contract can be concluded or not,

(r) Mechanism for settlement of disputes,

(s) Applicable law, and

(t) Other matters as prescribed.

^{1 Taken from the First Amendment.}