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Mobilization Advance

  • Mobilization Advance equal to 10% of contract price is being paid at the rate of 10% simple interest. Initially the recovery of advance was commencing after the cumulative payment reaches 30% of the contract price. Now the same has been modified and linked to time period of six months in addition to 30% of the contract price whichever is earlier.
  • Initially complete mobilization advance was being released in one installment which has now been split into two installments of 5% each. The release of 2nd installment has been linked with submission of satisfactory utilization statement of first installment by the contractor. The Bank Guarantee for each installment has to be for an amount 10% in excess of the advance amount and shall be in four equal parts so that release can be done in stages and if necessary forfeiture can also be done for the amount becoming due for recovery.

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