Professional Documents
Culture Documents
Adobe Scan 06-Apr-2023
Adobe Scan 06-Apr-2023
Adobe Scan 06-Apr-2023
1923 I
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4nL : W• en·• Compa doa Act
• It It IJltt act which paoridn ~ payment by muln
ct.,, et of emplo)u lo thrir worlJ:wa. n
c1N11pnmtian for infury by Kddmt.
Obfectin of worblan conep• c sa!llffl ad I lo
co111pe1:.ute cua,ployccs ~pil'II acddfflta ocrwucd in
11w industry.
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Arddnl: Any mitNpptnlng dYt o••w1 Injury to a
ptrKln
1) It can express a shared commitment on the part of a professional society's members to strive to satisfy
certain ethical standards and principles.
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BAMCll:T CODE : VOJIT
To be covered by a protected disc losure the whistlcblowcr must be a worker. However. ··worker"
has a specia l and wide meaning. providi ng protection not onl y to employees. but also to agency
worke rs. apprentices and trainees.
• Direct the Management: The stakeholders can be a part of the board of directors and therefore help in
taking actions. They can take over certain departments like service, human resources or research and
development and manage them for ensuring success.
• They Bring in Money: Stakeholders are the large investors of the company and they can anytime bring
in or take out money from the company. Their decision shall depend upon the company's fmancial
performance. Therefore they can pressurize the management for financial reports and change tactics if
necessary. Some stakeholders can even increase or decrease the investment to change the share price in
the market and thus make the conditions favorable for them.
• Help in Decision Making: Major stakeholders are part of the board of directors. Therefore they also take
decisions along with other board members. They have the power to disrupt the decisions as well. They
and bring n more ideas a threaten the management to obey them. The stakeholders also have all the powers
to appoint senior-level management. Therefore, they are there in all the major decision-making areas.
They also take decisions regarding liquidations and also acquisitions.
• Corporate Conscience: Large stakeholders are the major stakeholders of the company and have
monitored over all the major activities of the company. They can make the company abide by human
rights and environmental laws. They also monitor the outsourcing activities and may vote against any
business decision if it harms the long term goals of the company.
• Other Responsibilities: Apart from the above four major roles they also have some other roles to play in
the company. They can identify new areas for market penetration and increased sales. They can bring in
more marketing ideas. They also attract other investors like honeybees in the company. They can be a part
of a selection board or a representative for the company. Moreover, they can take alJ the major social and
environmental decisions.
Indian Contract Act
The Indian Contract Act, 1872 is an Act of the Parliament of India which
regulates the formation of contracts in India and is the governing law for all the
contracts entered into in India. It applies to all the states of India except for the
state of Jammu and Kashmir.
The Act defines a contract as "an agreement enforceable by law" and lays
down the conditions under which promises made by the parties to a contract
shall be legally binding. It lays down the duties and rights of the parties to a
contract and provides for remedies for breach of contract.
Some of the important provisions of the Act include the rules relating to
formation of a contract, void and voidable contracts, performance of contracts,
discharge of contracts, and remedies for breach of contract. The Act also
provides for specific contracts, such as indemnity, guarantee, bailment, pledge,
and agency.
4.1 : E"Pl~meat of Labour ■ad
Lalwu- and DIiier Collstrudto••nlaled
Laws
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Tender/Proposal-
A tender is an offer in writing for executing certain
specified work or supplying SP.ecified materials subject to
certain tenns and conartions like red time limit
specifications etc.
Requisite of a valid tender
1.unconditionally
2. at a. proper place
3. at proper time
4. ine a proper manner
5. proper person
6. figuring the terms of obligation
7. visible and willing to perform his obligations
8. offering a reasonable opportunity for inspection
9. for full amount.
BID-
A formal proposal to deliver goods aur services at a
specified price as well as describing that the tender
contract requirement will be met.
BID EVALUATION-
Bid evaluation is the process that takes place of the
tenders submission deadline. it involves the opening
and examining of the bids to identify the preferred
supplier for ttie project negotiations may then be
entered into with one or more suppliers and the
successful suppliers and successful supplier
awarded the contract
4. TENDERJNG PROCESS
Tendering process can be: divided in 10 six sages. These stages arc shown in below
picture.
Stage 2:
Stage 1: ~ Stage 3:
APPROVAL
PREPARATION DOCUMENTATION
TO TENDER
Stage 6:
Stage 5: : . - stage4:
l_
AWARD
PROCESSING INVITATION
CONTRACT
Stage I: Preparation
• Final completion of drawings. speci lica1ion. masurcmcn1 / mke-ofT process.
• Choose conditions of con1rac1.
• Panics involved: archi1cc1. engineers. QS, client. project manager
PAC[ u
Stage S: Processing
• Received I.ender submitted by contractor
• Tender assessment / evaluation
• Complc1ed tenders an: received
• Arithmetical check
• Reasonable tender sum
• Reasonable completion time
• Capabilities of t.endercrs under considerations
• Tender recommendation / rcpon - tender board
Manufacturers