Legal Question in Business Law in India
i had failed to submit performance guarantee (fixed deposit) within 60 days of issuing of LOA,because of demonitization,for one of my running tender(from last 2 month) in railway.In this case, i had loose the contract plus the security deposit i had submitted intitially.but is there any way of recovering my cost of work of two months.
Asked on 1/19/17, 6:30 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
20.01.2017
Dear Sir / Madam,
Demonitization has nothing to do with your failure to submit performance guarantee to the Bank within the prescribed time limit. You may submit your Statement showing Cost Estimate and Pre Tender Actual Cost and Expenses Incurred to the concerned Railway authority for consideration and settlement.
Regards,
Answered on 1/19/17, 9:46 pm
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