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GUYANA SUGAR CORPORATION INC.
Enrnore Project Gold
Contract
Part I
Agreement
Tsb Sugar
International
OCTOBER 2008
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FORM OF AGREEMENT
This Agreement made the
BETWEEN
~
day of \ j ~
Guyana Sugar Corporation Inc (Guysuco)
of
Ogle Estate, East Coast, Demarara, Guyana
(hereinafter called "the Purchaser) of the one part; and
Surendra Engineering Corporation Ltd.
of
One Star Export House
1 Jaitirath Mansion, 6-A Barrack Road, Mumbai - 400 020
(hereinafter called "The Contractor") of the other part
WHEREAS the Purchaser wishes to have certain Works executed by the
Contractor, viz
EN MORE PROJECT GOLD
2009
And has appointed Mr Yusuf Abdul of LSI Estate, East Coast, Demarara, Guyana,
the Engineer for the purposes thereof (hereinafter called "the Engineer") and has
accepted a Tender by the Contractor for the design, manufacture, delivery to Site,
erection, testing, and completion thereof and the remedying of defects therein in
accordance with the General and Special Conditions hereinafter referred to under
the direction of the Engineer in the sum of twelve million, eight hundred and eighty
eight thousand, United States Dollars. (US$ 12,888,000.00) (Hereinafter called
"the Contract Price) as a fixed price contract.
NOW THIS AGREEMENT WITNESSETH as follows:
1 In this Agreement words and expressions shall have the same meanings as
are respectively assigned to them in the Conditions hereinafter referred to.
2 The following documents and their annexures which have been initialled by
the parties and bound in herewith shall be deemed to form and be read and
construed as part of this Agreement viz:
a)
b)
c)
This Form of Agreement.
The Special Conditions.
The General Conditions (Including Appendix)
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1 Schedule 1: Schedule of prices
2 Schedule 2: Time for Completion
3 Schedule 3: Tests on Completion
4 Schedule 4: Performance Tests
5 Schedule 5: Preferred Suppliers
6 Schedule 6: Performance Securities
7 Schedule 7: Schedule of Payments
8 Schedule 8: Contractors Design Data
9 Schedule 9: Valuation of Variations and Claims
f) Contractor's submissions induding the said Tender.
In consideration of the payments to be made by the Purchaser to the
Contractor as hereinafter mentioned the Contractor agrees to design,
manufacture, deliver to site, erect, test, and complete the Works and to
remedy defects therein in conformity in all respects with the provisions of the
Contract.
The Purchaser shall pay the Contractor in consideration of the execution and
completion of the Works and the remedying of defects therein the Contract
Price or such other sum as may become payable under the provisions of the
Contract together with the Value Added Tax properly chargeable thereon at
the times and in the manner prescribed by the Contract.
If any question, dispute or difference shall arise between the Purchaser and
the Contractor in relation to the Contract or in any way related to the Works,
which cannot be settled amicably, it shall be referred to arbitration in
accordance with dause 52 (Disputes and arbitration) of the General
Conditions.
"The Contrad' shall take effect on the date ("the Effective Date") when all of
the following suspensive conditions have been fulfilled namely:
a) The Letter of Credit is established in accordance with the Contract and a
copy thereof is faxed to the Contractor.
b) The Agreement is signed by the Purchaser and the Contractor.
c) All necessary permits for the Contract, if any, required by the
Governments of both the Purchaser's and the Contractor's countries are
acquired.
If the Letter of Credit is not established according to Clause 6a above, within
six (6) months after the date of signature of this Agreement, the Contract shall
be subject to re-negotiation.
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IN WITNESS whereof the parties hereto have caused this Agreement to be entered
into in the manner required by their respective constitutions and the laws of their
respective countries.
F", ,m! 0" """" of Gu",,,,,o S_ CO<pooation :; ,nd 0" """"" of Sr'" .;r'O"
Signature Signature 'A,f
Name e r2. ':0 t () H-1tl'lO f>1 t1 ,..J Name tJY)
Position: el1 fEf 6<ECuII-...JE Position: 'O\"f<lc),nr
Date: Date:
Place: Place:
GUYANA SUGp.R INC.
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