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​Delay Damages

  • Initial contracts provided the provision for delay damages @ 1/2000 of the Contract price per day with maximum limit of 10% of Contract price in case the contractor fails to complete the work within the stipulated completion period.
  • Such provision of delay damages were not serving the purpose of remedial action, hence provision modified recently as under:-
  • If the contractor fails to achieve physical/financial targets as per the agreed programme for a consecutive period of 3 months a provisional recovery of delay damages shall be made from the next interim payment certificate @ 1/10th of the rate specified (1/5000 per day) for the entire period of 3 months. Such recovery shall continue till achievement of cumulative targets. On achieving the cumulative progress targets entire amount recovered till that month, shall be refunded to the contractor. In case the contractor is unable to make good the shortfall and achieve the cumulative targets resulting in delay in completion of the project, then the provisional recoveries made shall be adjusted against the delay damages to be finally imposed on the contractor.

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