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Agreement is a legal document, which acts as a legal binding between both the parties for all terms & conditions mentioned in the document.
Agreements are based on:
After finalizing the rates & conditions, agreement is to made .Both the parties should act on it as legal & mutual understanding. Work is to be commenced only after issuing/receipt of Agreement copy & Work Order. An agreement is beneficial for both the parties as
For billing & measurements, the work is split into various items.
Rates are finalized for various items as per agreements and are considered for billing. Measurements are taken as per approved mode of measurement for billing.
For this type of contract the rates are worked out for estimated material, labour, tools & plants, machinery cost, overhead expenses etc.
Value of contract is derived in terms of built up area agreed mutually.
Mode of payment is finalized as per the stage wise work done, or as per the percentage agreed, or as per contract.
For lump sum contract, measurements are not required for billing as normally petty works are to be carried out through this contract.
Contractors are paid by preparing bills for the work done at various stages through
If mentioned in the contract, contractors are paid on forthrightly or monthly basis for work done during that period.
For such bills, quantities or work done during that period is to be measured & paid.
Billing is one of the most important documentary activity and should be sincerely carried out by engineers, very sincerely & carefully. All measurements should be recorded on measurement sheets with required self- explanatory sketches & notes. Payment is to be made as per stage of work & percentage payable to that stage of work. Previous work done & advances paid up to date are to be considered while calculating final payable figure. Rates & mode of measurements should be as per the agreement .In case of doubts refer higher authorities. Check that all necessary information is written & bills are duly signed.
R.A. BILL FORMAT
Name of Company: R.A. Bill No: Name of Site: Name of Contractor: Date: Period:
|TOTAL AMOUNT BILL RS.|
|LESS RETENTION AMOUNT RS.|
|BALANCE AMOUNT (1-2) RS.|
|LESS TOTAL PAYMENT UPTO PREVIOUS R.A. BILL RS.|
|TOTAL BALANCE PAYMENTS RS.|
|LESS OTHER DEDUCTIONS|
|i) DEBITS IF ANY RS.|
|ii) ADVANCES IF ANY RS.|
|iii) T.D.S RS.|
|NET PAYABLE AMOUNT RS.|
PREPARED BY : CHECKED BY: PROJECT MANAGER:
After satisfactory completion of the work by contractor; the final bill may be prepared. As per the agreement the liquidated damages period shall be considered while releasing the retention amount. The recommended consumptions of materials shall be crosschecked at the time of final bill. The various amount debitable against penalties, material supplied by company, water & electricity charges, if any, shall be taken into account.