NEW DELHI, May 1 -- The Centre has allowed contractors to invoke force majeure in government contracts disrupted by the West Asia crisis, granting deadline extensions of up to four months without penalties.
In an office memorandum dated 29 April, the Department of Expenditure, under the finance ministry, said disruptions arising from the prevailing situation in West Asia may be treated as a valid force majeure event, provided they have directly or consequentially affected contractual obligations.
The order applies to procurement of goods, services and works across government agencies, offering relief to firms facing supply chain disruptions, logistics bottlenecks and input delays linked to the crisis.
Contracts with completion deadline...
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इस लेख के रीप्रिंट को खरीदने या इस प्रकाशन का पूरा फ़ीड प्राप्त करने के लिए, कृपया
हमे संपर्क करें.