3. If the contracting authorities do not complete the works referred to within the time limit laid down in the above provision, the contracting authorities shall pay, at the option of the owner, without prejudice to the other rights of the owner and other provisions of the owner, a flat-rate compensation amounting to Rs…… per day (but with a maximum of 2% of the total contract amount to be paid by the owner under this Agreement) for the period between the date set for the completion of the work. The contracting authorities expressly agree and authorise the owner to deduct, where appropriate, such lump sum compensation from any instalment of payment due and payable to the contracting authorities within the meaning of this Agreement. 8. When the above-mentioned works are completed in the manner defined in the above provision, the architect must inform the contracting authorities in writing to withdraw their surplus materials and installations, and if the contracting authorities do not do so within seven days of their receipt, the owner may sell them by public auction and credit the contracting authorities with the net amount realized. The architect must then establish and certify in writing what must or must be due (if any) to the owner or owner, for the value of the building in question and the materials thus taken possession of by the owner, the costs or losses incurred by the owner when acquiring the work to be carried out and the amount, if applicable, due to the contractors and the amount that must be so certified is then due by the owner to the contractors or developers. by the contractors to be paid to the owner, and the architect`s attestation is final and conclusive between the parties. 10. The owner or his representatives have the right to check the progress of the construction work and the materials used for the construction and are authorized to draw the architect`s attention to defects in the construction work, the quality of the transformation or the materials used when such defective work is carried out or carried out or such materials are brought to the site.
If the architect is satisfied with the objections raised, the architect must certify this in writing and order the contracting authorities to eliminate at his own expense the lack of the above-mentioned work or to remove these defective materials, which must be repaired or removed by the contracting authorities on instruction. This agreement was concluded on ………….. Here………. Day of …………. 2000, between Shri…………… S/o……….. Domiciled in………….. (hereinafter referred to as “the owner”, whose expression, unless contrary to the context or meaning thereof, is considered to be his heir, legal representative, executor and administrator) of the ONE PART and M/s ABC Builders & Contractors, a partnership company registered under the Partnership Act 1932,……….. (hereinafter referred to as “entrepreneur”, the expression of which is not contrary to the context or meaning, is considered to be a partner of said company, survivors or survivors, or the legal representatives, executors or administrators of the last survivor of the other party. 7.
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