Legal Definitions Dictionary
Corrupt Practice 14Corrupt Practice means the offering, giving, receiving or soliciting of anything of value to influence the action of a public official in the selection process or in contract execution.
Fraudulent Practice 11Fraudulent Practice means a misrepresentation of facts in order to influence a procurement process or the execution of contract to the detriment of the Bank and includes collusive practice among bidders (prior to or after bid submission) designed to establish bid prices at artificial non- competitive levels and to deprive the Bank of the benefits of free and open competition.
Bidder 10Bidder for the purpose of this Order (including the term 'tenderer', 'consultant 'vendor' or 'service provider' in certain contexts) means any person or firm or company, including any member of a consortium or joint venture (that is an association of several persons, or firms or companies), every artificial juridical person not falling in any of the descriptions of bidders stated hereinbefore, including any agency, branch or office controlled by such person, participating in a procurement process.
Contractor 8Contractor means firm or company with whom or with which the order for the supply of Stores is placed and shall be deemed to include the Contractor’s legal successors and/or assignees (approved by the Purchaser), representatives, heirs, executors and administrators unless excluded by the Contract.
Act of Insolvency 7Act of Insolvency means any Act of Insolvency as defined by the Presidency Towns Insolvency Act or the Provincial Insolvency Act or any Act amending such original.
Bid 7Bid may be referred to as ‘Offer�.
Coercive practice 6Coercive practice means harming or threatening to harm, persons or their property to influence their participation in the procurement process or affect the execution of a contract;
Force Majeure 6Force Majeure means an event which is beyond the reasonable control of a Party, and which makes a Party's performance of its obligations hereunder impossible or so impractical as reasonably to be considered impossible in the circumstances, and includes, but is not limited to, pandemic, epidemic, war, riots, civil disorder, earthquake, fire, explosion, storm, flood or other adverse weather conditions, nationwide strikes, lockouts or other industrial action, confiscation or any other action by government agencies.
Notice in writing 6Notice in writing written notice shall mean a notice in written, typed or printed characters sent (unless delivered personally or otherwise proved to have been received) by registered post to the last known private or business address to have been received when in the ordinary course of post it would have been delivered.
Tender 6Tender or “Bid document� means the ‘Request for Proposal document�
Confidential Information 5Confidential Information means non-public information that Disclosing Party designates as being confidential or which, under the circumstances surrounding disclosure ought to be treated as confidential. “Confidential Information� includes, without limitation, information relating to developed, installed or purchased Disclosing Party software or hardware products, the information relating to general architecture of Disclosing Party’s network, information relating to nature and content of data stored within network or in any other storage media, Disclosing Party’s business policies, practices, methodology, policy design delivery, and information received from others that Disclosing Party is obligated to treat as confidential. Confidential Information disclosed to Receiving Party by any Disclosing Party Subsidiary and/ or agents is covered by this agreement
RFP 5RFP or “Tender� or “Bid document� means the ‘Request for Proposal document�
Services 5Services means all services, scope of work and deliverables to be provided by a Bidder as described in the RFP..
Site 5Site means the site of the Contract Works including common peripheral area thereon and any other land (inclusively) as aforesaid allotted by the Bank for the Contractor’s use.
The Contract 5The Contract means the agreement signed between the Buyer and the Contractor as per The terms and conditions contained in the Purchase Order/Works Order.
The works 5The works means Annual Service Contract for providing Housekeeping services at Bank’s Office and e Building, New Delhi
This Contract 5This Contract means the Articles of Agreement, the Special Conditions, the Conditions, the Appendix, the Schedule of Quantities and Specifications, etc. attached hereto and duly signed.
Bank 4Bank means The Reserve Bank of India and shall include its assigns and successors.
CONTRACT 4CONTRACT or "PURCHASE ORDER� shall mean the communication or document signed for and on behalf of the Purchaser by an Officer duly authorised confirming the acceptance for and on behalf of the Purchaser on the terms and conditions mentioned or referred to in the said communication or document including all attachments and appendices thereto while accepting the Tender or Offer of the Contractor for supply of Stores and any subsequent amendments thereto made on the basis of mutual agreement.
Control 4Control shall include the right to appoint majority of the directors or to control the management or policy decisions including by virtue of their shareholding or management rights or shareholders agreements or voting agreements;