Forex fluctuation clause


forex fluctuation clause

respondent. Ashok, the firm's representative agreed to withdraw the stated assumptions and made an endorsement to this effect on the same covering letter withdrawing all the conditions. Elaborating the aforesaid submissions,. Thus once we find that there was provision for making these assumptions/deviation and it was for the employer to consider the same and after consideration accept or reject then, the bid would not become unresponsive. We have already reproduced above Clause.2 as per which only material deviation or reservation of the nature specified therein would make the bid as substantially non-responsive.



forex fluctuation clause

Vide NIT dated respondent.
The Government of India, Ministry of defense through the Director General, Project Sea Bird invited bids for pre-qualification for the construction of Ship Lift Civil Works for the Project Sea Bird of the Indian Navy at the Karwar Port situated in Karnataka.

Cash (bank account) Liabilities suppliers 412 P/L foreign exchange loss Example 2 Security deposit for long-term rental Your company (functional currency: EUR) wants to rent a property in Chicago for 12 months and pays a security deposit of USD 10 000. Although this sounds quite straightforward, some difficulties may arise in determining the transaction date.

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1 sent fax lodging its protest in the manner respondents 2 and 3 were allowed to withdraw the said "assumptions" stating that these assumptions were nothing but conditions attached to their bids and being conditional tenders and not in conformity with the tender conditions should. This course of action was by way of abundant caution which did not alter the legal position. This would be commensurate with the magnitude of works and fair to both the parties. The procedure followed at that time was acceptable to all the Record Form was signed by everybody containing the certificate to the effect that "no departure from the authorised procedure has occurred in the manner of receipt of the above tenders". His further submission was that all relevant clauses of 'Instructions to Tenderers' as well as clarifications issued thereon were to be read harmoniously to understand and appreciate the implications thereon. (4) The terms of the invitation to tender cannot be open to judicial scrutiny because the invitation to tender is in the realm of contract. Delhi High Court, gammon India Ltd. Almost identical statement is made while recording the minutes relating to opening of bid of respondent. The comparative merits of the appellant vis-a-vis MCC are, however, a matter for the KPC (counselled by the TCE) to decide and not for the courts. The Government of India, Ministry of defense through the Director General, Project Sea Bird invited bids for pre-qualification for the construction of Ship Lift Civil Works for the Project Sea Bird of the Indian Navy at the Karwar Port situated in Karnataka. IT may perhaps be said to cause prejudice also to a party which can show that it had refrained from applying for the tender documents only because it thought it would not be able to produce the document by the time stipulated but would have. 2 and 3 withdraw these assumptions/deviations.

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