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Last Update: 2013-09-02
Last Update: 2014-12-31
Last Update: 2014-06-06
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Last Update: 2015-02-01
Last Update: 2014-04-23
Road traffic safety refers to methods and measures for reducing the risk of a person using the road network being killed or seriously injured. The users of a road include pedestrians, cyclists, motorists, their passengers, and passengers of on-road public transport, mainly buses and trams. Best-practice road safety strategies focus upon the prevention of serious injury and death crashes in spite of human fallibility (which is contrasted with the old road safety paradigm of simply reducing crashes assuming road user compliance with traffic regulations). Safe road design is now about providing a road environment which ensures vehicle speeds will be within the human tolerances for serious injury and death wherever conflict points exist. Furthermore, the highest possible degree of safety shall be ensured when transporting goods by road. It is of vital importance to monitor and validate the road transportation safety, including comprehensive checks on drivers, vehicles and safety processes.
Last Update: 2015-01-16
Building Agreement Between The Owners And The Contractor On Fee Plus Cost Of Labour And Materials
THIS AGREEMENT made at ………………….. on this …………. day of ………………2000, between Shri…………………… S/o ………………….. resident of ………………………… (hereinafter called ‘the owner’ which expression shall unless repugnant to the context or meaning thereof, be deemed to include his heirs, legal representatives, executors and administrators) of the ONE PART and M/s ABC Builders & Contractors, a partnership firm registered under Partnership Act, 1932 and having its registered office at ……………… (hereinafter referred to as ‘the builders’ which expression shall unless repugnant to the context or meaning thereof, be deemed to include every partner for the time being of the said firm, the survivor or survivors or the legal representatives, executors or administrators of the last survivor of the OTHER PART.
WHEREAS the first party is the owner of the plot of land admeasuring ……………….. sq. meters bearing plot No. ……….. city survey No. …………………. Khasra No. ………………… situate, lying and being at …………………. Tahsil and District …………………. (hereinafter referred to as the “said plot of land”) and is desirous of getting a house constructed on the said plot of land.
AND WHEREAS the first party has appointed Shri …………….. as the architect and the said architect has prepared the plans, drawings and elevations of the said intended house and the specification of the works to be done and of the materials.
AND WHEREAS the second party is a big contractor and is having vast experience in construction of big buildings and has agreed to construct the house on the said plot of land.
NOW IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS:
1. The builders will construct the building on the said plot of land in conformity with the plans, drawings, specifications and elevations as prepared by the architect which has been annexed hereto and marked as Annexure A, with the material of best quality and in the most substantial and workman like manner and to the satisfaction of the architect.
2. The builders hereby undertake to commence the construction within fifteen days of execution of these presents and complete the construction on or before the expiry of ………………. months from the date of execution of these presents in accordance with the plans duly approved and sanctioned by the Municipal Corporation of ……………………………. and specifications and conditions as are set out in Annexure A hereunder written.
3. If the builders fail to complete the said work within the period as stipulated in the foregoing provision, the builders shall, at the option of the owner but without prejudice to the other rights under law of the owner and other provisions herein, pay liquidated damages calculated at the rate of Rs………. per day (but subject to a maximum of 2% of the total contract amount payable by the owner under this agreement) for the period between the said stipulated time for completion of the works. The builders hereby specifically agree and authorise the owner to deduct such liquidated damages, if any, from any installment of payment becoming due and payable to the builders in terms of this agreement.
4. The owner will pay to the builders a sum of Rs…………. out of which the owner shall pay to the builders weekly such sum as may be sufficient to defray the expenses incurred by the builders in respect of materials used in the works, checked and certified by the architect, Rs ……… on the certificate by the architect that the work upto first floor has been completed, the further sum of Rs …………. on the certificate by the architect that the work upto second floor has been completed and the balance shall be paid on the certificate by the architect that the said works have been completed in all respects according to the agreement and the builders have at their own expenses removed and cleared all scaffolding, fencing, unused materials and rubbish from the premises and made and prepared the bungalow fit for use and habitation and immediate occupation.
However, a sum equivalent to 5 per cent of the total contract amount payable by the owner under this agreement shall be retained by the owner as retention money, which shall be paid after a period of 12 months from the date of handing over the said bungalow complete in all respects and fit for occupation. The builders hereby agree and undertake to rectify all such defects as may be found or detected during the period of 12 months. If the builders fail to rectify the defects pointed out or decline to cure such defects as pointed by the owner within fifteen days from the date of reporting to the builders, the owner shall be entitled to have such defects cured by such other agencies as it may deem fit at the entire cost and risk of the builders and utilise the retention money; Provided further that in the event of the said retention money being inadequate to meet such costs, charges and expenses incurred by the owner for curing the defects in the construction, the builders shall within 7 days of a demand in writing made by the owner make good the defect, failing which the builders shall be liable to pay the same together with the interest at 15% per annum.
5. The owner shall allow free ingress to and egress from the premises to the builder’s servants, employees, sub-contractors and all other persons, who are necessary in connection with the carrying out of the works under the agreement.
6. The builders shall indemnify the owner in respect of all claims, damages or expenses payable in consequence to any injury to any employee, workman, nominee, invitee while in or upon the said premises. The builders shall also be responsible for any damage to buildings, whether immediately adjacent or otherwise and any damage to roads, streets, foot-paths, bridges or ways as well as all damages caused to the buildings, and work forming the subject to this contract by frost, rain, wind or other inclemency of weather.
7. If the builders abandon the contract or fail to commence the work or suspend the progress of the work for 14 days without any lawful excuse under these conditions, or fail to proceed with the works with such due diligence and fail to make such due progress as would enable d the works to be completed within the time agreed upon or fail to remove materials from the site or to pull down and replace work for seven days after receiving from the architect written notice that the said materials or the works were defective and rejected by the said architect or neglect or fail persistently to observe and perform all or any of the acts, materials or things required by this contract to be observed and performed by the owner for seven days after written notice shall have given to the builders requiring them to observe or perform the same and the architect certifies in writing to the owner to the said effect, then and in any of the said cases the owner may, notwithstanding any previous waiver, after giving seven days notice through the said architect in writing to the builders terminate the licence in favour of the builders and in so far as it relates to the completion of the remaining construction work, but without thereby affecting the powers of the architect, or the obligations and liabilities of the builders, the whole of which shall continue in force as fully as if this Agreement had not been so determined. And the owner by his servants or agents may enter upon and take possession of the work, tools, scaffolding, sheds, machinery, power, utensils and materials lying upon the premises or in the adjoining lands or roads and use the same as its own property or may employ the same by means of its own servants and workmen in carrying on and completing the work or by employing any other contractor or other person to complete the works and the builders shall not in any way interrupt or do any act, matter or thing to prevent or hinder such other contractor or other person or persons employed for completing and finishing the works or using the material and plant for the works.
8. When the said works are terminated in the manner as stipulated in the foregoing provision, the architect shall give a notice in writing to the builders to remove their surplus materials and plant, and should the builders fail to as so within a period of seven days, after receipt thereof by them, the owner may sell the same by public auction and give credit to the builders for the net amount realised. The architect shall thereafter ascertain and certify in writing, what (if any thing) shall be due or payable to or by the owner, for the value of the said building and materials so taken possession of by the owner and the expense or loss which the owner shall have been put to in procuring the work to be completed and the amount, if any, owing to the builders and the amount which shall be so certified shall thereupon be paid by the owner to the builders or by the builders to the owner, as the case may be, and the certificate of the architect shall be final and conclusive between the parties.
9. The builders shall be bound to appoint an engineer competent to receive instructions from the architect from time to time, on behalf of the builders at all reasonable hours and all directions given to him by the architect shall be deemed to have been given to the builders.
10. The owner or his representatives shall be entitled to inspect the progress of the construction work and materials used for the construction and they shall be entitled to point out to the architect any defects in the construction work, quality of workmanship or materials d used when such defective work is in progress or being executed or such material is brought on site. If the architect will be satisfied about the objections raised, the said architect shall certify the same in writing and direct the builders to rectify at their own cost the defect in the said construction work or remove such defective materials and the same shall be rectified or removed by the builders as directed.
11. All disputes or differences relating to the specifications, designs, drawings and as to quality of workmanship or material used in the work or as to any other question arising out of or relating to the contract, design, drawings, specifications, orders or otherwise in connection with the agreement or the carrying out of the works, whether during the progress of the work or after the completion or abandonment thereof shall be referred to the sole arbitration of two arbitrators, one to be appointed by each party. The arbitrators shall appoint an umpire before entering upon the reference. The parties would cooperate and lead evidence, etc. with the arbitrators and if one of the parties does not cooperate or remains absent at the reference, the arbitrators or the umpire would be at liberty to proceed with the reference ex-parte. The arbitrators or the umpire shall keep record of the oral evidence adduced by the parties and submit the same to the court at the time of filing of the award, along with documentary evidence produced before them or him by the parties or their witnesses. The proceeding of the arbitrators or the umpire shall be recorded in English and a carbon copy whereof shall be furnished to each party. The arbitrators or umpire shall be entitled to appoint stenographer, for recording proceedings of the arbitration, consult an expert, after previous notice to the parties to the reference, the cost whereof shall be borne equally by the parties. The fees of the arbitrator appointed by a party shall be borne by the party, so appointing and the fees of the umpire and the other arbitration expenses shall be borne equally by the parties. The arbitrators shall make their award, with reasons for the decision, within six months from the date of entering upon the reference. If the arbitrators have allowed their time to expire without making an award or have delivered to any party or to the umpire a notice in writing stating that they cannot agree, the umpire shall forthwith enter on the reference. The umpire shall make his award within tour months of entering on the reference or within such extended time, as the parties may agree. The award of the arbitrators, or umpire, as the case may be, shall be final, conclusive and binding on the parties and shall not be challenged on any ground except collusion, fraud or an error apparent on the face of the award. This reference to arbitration shall be deemed to be a reference within the meaning of the Arbitration and Conciliation Act, 1996 or any statutory modification thereof. No action can be taken under this agreement for the enforcement of any right without resorting to arbitration under this clause.
12. This agreement shall be executed in duplicate, the original shall be retained by the owner and the duplicate by the builders.
IN WITNESS WHEREOF the parties have signed these presents and a duplicate thereof, the day and year first hereinabove written.
Signed and delivered by ……………….. the owner
Signed and delivered by M/s ABC Builders and Contractors,
the builders, by its partners
Last Update: 2015-01-10
The Way To an Ideal Payment Gateway for You
To choose an ideal gateway can be challenging, as a result of the number of gateways that are available to choose from. These gateways tend to have similar features and work hand in a parallel manner to provide quite similar services. For you, all that is required is to choose a payment gateway that will fulfill all your needs and enable your business payments run smoothly without hitches. To help you with this, you will learn here what you will be looking for so as to receive the greatest service from the payment system that you will choose.
To get the best payment gateway, you should first consider revising the payment systems you have shortlisted as ideal for you. Learn something slight about each of them as this will help you identify the shortcomings of each. It will also create a pathway for you to get the best out of the best. This is a cumbersome process but it should ease your mind after you have read this article.
Looking at shopping carts, most online payment gateways can support the major shopping carts available. This is a tough feature as it makes your choosing difficult as people using the gateways usually use the shopping carts to shop online. This should not discourage you from choosing one payment gateway over the other. Actually it should help ease your work as you need to check for other features to find a payment gateway he is compatible to your field of work.
The most threatening thing to all online shop business entities is being scammed with a false or fraud payment system. This is why it is extremely important that you get to learn about what you are getting yourself into before you get into losses for your business. Like any other business, payment gateways are among them and thrive to make profits. They will do anything to get your attention and extract money from you.
What to look for in a payment gateway
When searching online for a good payment system you come across each one claiming that it is the best for you. This may not be true and here is what to look for:
Experience is always an important factor to look for. The more experienced you are in a business, the more quality services you provide to your clients. Confirm how long the company has been in the payment business from trusted sources. This can be from the government or online trade places.
Another equally important factor is reputation. Good things always sell by themselves, while bad things tend to keep looking for buyers. A good payment gateway has a good reputation on how it provides services to its clients.
A trusted company does not have anything to protect its clients from. They are loyal down to earth open and genuine. If you ask them a question, they should be ready and answer you to complete satisfaction. Failure to this means they can not keep their promises.
Every payment gateway company has various software packages to provide to its customers. For a good company, they must have worked with the software for a long time and should be able to give you a test drive for some time. Any new software should be approached with extreme caution. You should probably use any demo software for any new one that is coming.
Other customers’ availability
Customers present an integral part in a company and should help new customers in trusting issues with a company. Genuine payment gateways give new clients a chance to inquire from other customers about their company. Making other customers anonymous make your company seem suspicious like you are hiding something. Avoid companies that make it impossible to inquire from any of their clients as they may be frauds.
General cost of their service bundles
The general cost of services provided by a payment gateway company should be open and clear. This enables a person have some estimates of how much is expected to be paid for all services they need. Hiding this information from customers presents some risks for a client and should be avoided by customers. You should basically stay away from them to avoid being a rip-off by the companies.
Payment gateway companies should have the ability to facilitate financial transactions in a way that it does not compromise the schedule of its clients. That is why as a customer, you have to seek for a company that has some benefits to you.
Advantages to check in a payment gateway company
Ability to provide security for clients. All transactions through a payment gateway should be secure so that it does not compromise with your funds security.
Easy to use. A good company should have their system for everyone. Any person with average computer skills should be able to access and use the gateway. This attracts a larger customer base.
Time management. All quality providing companies should operate at a fast pace. Any company that takes a lengthy time to complete transactions is actually not ideal to anyone.
Special features. Many companies give their customers some special features in their payment gateways. This should be correct, operate accordingly and be true to their word to avoid inconsistencies.
When going for a payment gateway company, knowing about most of its operations and history is important. This is because it will help you insure yourself against dishonest and crooked companies. For instance, some companies divulge very sensitive information to person that is willing to have that information at all costs, even paying some kickbacks. It is of paramount importance that you get to know what you are getting into so that you are best prepared to counter any glitches from the company’s part.
It is true that every merchant wants what is best for him/her and should be able to get it from a payment gateway company they decide to work with. For this reason, here are some tips for you to get into business with the right people:
Check for a good profile in a company
A good profile is always an essential element to check in a payment gateway company. This provides the best breeding ground for business to grow roots successfully.
Look at the time and costs for you
For any business to thrive fast, time and money are important. Make sure that the payment gateway company you opt for considers this. Charges should be clear for customers and any changes made should be informed to clients in advance for them to make the necessary adaptation procedures. Time should also not be ignored. It should take minimum time to successfully complete any deals and transactions.
Check for additional services
Any extra service package offered by a payment gateway comes in hand with better financial transactions for that company. For instance, customer care services help clients be serviced better as they get their problems solved quickly. This is what customers should seek after to better grow the internet as a market place for businesses that offer financial services.
Monitor the security of your transactions
Any software package provided by a company should ease your worries. You should make sure that anything you are asked to do by any gateway is safe and guarantees that you will not be compromised in any way. This will help you ensure that you are entrenched into the system safely and securely.
Security for clients
As a business owner, you should also consider the security of people purchasing products through your site. Make sure that when a person is purchasing any product from your website he/she is safe. This is because when a person clicks at a product with the aim of buying; he/she is asked to divulge some information about his/her credit card. This procedure should not leave the customer vulnerable to security threats. So, payment gateway Companies that do not disclose a person’s information publicly should be given first priority.
The basic principle of acquiring the best company to deal with your financial dealings online is having a system that can be used by both pros and amateurs. Remember, some people have great skills dealing with online financial transactions while others are just beginners. This is because you will always deal with these classes of people at one point of time.
Integrating your website with a good payment gateway company should give you’re an edge over other companies. So as a business owner, you ought to look for companies that give the best security to its clients which will enable you attract many people to your website.
Make sure you know your objectives clearly before going to the internet in search of a payment gateway. Learning how to look for great qualities in a Payment Gateway Company; will get you to a better position to prosper in any business you have ventured in. Also as a buyer you can be best suited to minimize being scammed by any company offering financial services online.
Last Update: 2014-11-24
To rein-in bad loans, Central Bank of India has drastically cut the ticket size of loans it gives to India Inc.
The public sector bank has capped fresh loan exposure at ₹150-200 crore per company as against ₹300-400 crore earlier.
The bank has also pared its corporate loan exposure by ₹13,797 crore in the last one year.
Instead, it has focused on giving loans to the non-priority sector such as agriculture, retail, and micro and small enterprises (MSE).
“This (curtailing the ticket size of loans to companies) is a risk mitigation measure. We are not renewing low-yielding short-term loans,” said BK Divakara, Executive Director.
The bank believes multiple smaller loans, as opposed to a few large corporate loans, can reduce the risk of bad loans.
The bank’s corporate credit portfolio has come down from ₹1,13,573 crore in September-end 2013 to ₹99,776 crore in September-end 2014.
According to Executive Director Raj Kumar Goyal, Central Bank has taken a conscious decision to focus on non-priority sector loans. This has also helped correct the earlier skew in the bank’s loan portfolio towards corporate loans.
Corporate credit accounted for 53.55 per cent of total loans in the September 2014 quarter, as against 63.58 per cent during the corresponding quarter last year. Agriculture loans account for 17.89 per cent of total loans (12.73 per cent as on September-end 2013); retail accounts for 16.24 per cent (13.37 per cent); and MSE account for 12.32 per cent (10.33 per cent).
Rajeev Rishi, Chairman and Managing Director, said after his bank posted a huge loss of ₹1,509 crore in the second quarter of FY14, it undertook course correction, focusing on recovery from bad loans, increasing retail credit and mobilising low cost deposits.
In the second quarter ended September 30, 2014, Central Bank saw a turnaround in its fortunes, reporting a net profit of ₹103 crore.
Year-on-year bad loans, in gross terms, edged down to ₹11,440 crore as against ₹11,563 crore during the corresponding quarter last year.
Last Update: 2014-11-10
Common Childhood Illness and
Common Childhood Illness
Environmental hygiene is as important as personal hygiene for good health. Small children are at high risk and fall sick easily. Most of the diseases are caused by drinking unsafe water, breathing unclean air and easily spoilt food.
Last Update: 2014-10-15
Last Update: 2013-09-11
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