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    8.3.43 Releasing of Preformence Security

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    Ashish Kumar
    releasing of performance security

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    8.3.43 Releasing of Preformence Security

    Uploaded by

    Ashish Kumar
    121 views2 pages
    releasing of performance security

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    8.3.43 releasing of preformence security

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    releasing of performance security

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
    121 views2 pages

    8.3.43 Releasing of Preformence Security

    Uploaded by

    Ashish Kumar
    releasing of performance security

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Download as pdf
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    cree oftaer site coranf Hater) ‘BRE Fox:01-11.25009507 / 25000514 National Highways Authority of In (Ministry of Road Transport and Highways) ‘sft-5 UF 6, Saet-10, area, AE Reeht-110075 G5 & 6, Sector-10, Dwarka, New Delhi-110075 NHAI/Policy Guidelines/Concession Administration/2022 Policy Circular No. 8.3.43 dated 17" January, 2022 (Decision taken on e-office File No: NHAI/11012/MP/HAM/ 13/2018 (Comp. No. 13940)) Sub: Expenditure to be taken into account while considering a proposal for releasing Performance Security in reference to Article 9.3 of Model Concession Agreement (MCA) of Hybrid Annuity Mode (HAM) projects. Article 9.3 of MCA of HAM projects contains the following provisions regarding release of Performance Security: 9.3 Release of Performance Security “The Performance Security shall remain in force and effect for a period of one year from the Appointed date, but shall be released earlier upon the Concessionaire expending on project Construction an aggregate sum that is not less than 30% (thirty percent) of the Bid Project Cost; provided, however, that the Performance Security shall not be released and shall be kept alive by the Concessionaire if the Concessionaire is in breach of this Agreement. Upon request made by the Concessionaire for release of the Performance Security along with the particulars which establish satisfaction of the requirements specified in this Clause 9.3, the Authority shall release the Performance Security forthwith.” 2. The aforesaid provision is silent about the breakup of the expenditure to be taken into account while releasing the Performance Security. Now, it has been decided to take into account the following expenditures incurred by the Concessionaire for considering a proposal for releasing the Performance Security as per Article 9.3 of MCA of HAM projects while calculating an aggregate sum that is not less than 30% of the Bid Project Cost: (Sr. Particulars [Expenditure to be taken into] INo.| laccount or not |A” Work Certified - As per IE (Including GST) JTo be taken into account IB [Preliminary Activities (like Camp Construction, Not to be taken into account {Crusher Camp, Establishment of Field Laboratory,| Foundation of plant erection, etc.) laterial in Stock (like Crushed aggregated, steel in/To be taken into account Istock etc.) (Including GST) ID |Work done not Certified (Clearing and grubbing,|Not to be taken into account [Earthwork Subgrade, etc.) IE |GST on (AvC) jTo be taken into account b Contd..2/- fSr. Particulars INo.| lExpenditure to be taken into| \ccount or not IF |land Purchase Cost INot to be taken into account |G Overhead Expenses (loan processing fee, linsurances, Consultancy fee, etc.) INot to be taken into account IH [Gross values of Assets deployed at site (includin |GST) (Hot Mix plant, crusher plant, batching plant, INot to be taken into account Imachinery and equipments etc.) 3. This issues with the approval of Competent Authority. To: Moen] 22 (Sanjay Kumar Patel) General Manager (Coord.) All Officers of NHAl HQ/ ROs/ PIUs/ CMUs/ Site Offices Copy to: 1. Hindi Officer for translation in Hindi. 2. Library for hosting the circular on library site. 3. Web Admin for circulation.

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