PROVN OF CLIENT MEMBERSHIP OF POWER EXCHANGE INDIAN ENERGY EXCHANGE FOR GE UTILITY AMBALA CANTT

Amount

Trading margin (on FIRM basis) for Purchase of Power (in Rs./MWH)

Notes:- The bidders shall quote the trading margin (in Rs. Per MWH limited upto two decimal for Purchase of Power on IEX. The trading margin for sale of Power on IEX shall be '0' (Zero). Bidders shall quote only for Purchase of Power on IEX considering the fact.

Trading margin shall be on FIRM basis inclusive of all duties and taxes as applicable at the time of last date of receipt of tender and there shall be no change in it during the contractual period except any change in taxation.

The trading margin shall be paid basis on final obligation reports of IEX for purchase of power.

Billing Criteria: The tenderer/trader will raise the Bill/Credit as per under mentioned period only from Monday to Sunday for Power Purchased & Sold through the Exchange i.e. the invoice will be raised on weekly bases of every Monday and shall reach the office of GE (U) Ambala Cantt before 15:00 Hrs on the same day. GE (U) Ambala Cantt/Tender (as the case may be) shall make the payment within 03 working days after passing from audit and excluding Gazetted holidays, bank holidays. If the invoice is received after 15:00 Hrs, the invoice will be considered to be received on the next working day. However, hard copies of the bill in triplicate shall invariably be sent to this office through registered/speed post/courier/by-hand. No deviation on account of the above referred billing criteria shall be accepted and if there is any deviation on this account, the bid is liable to be rejected. Trader will give the details of his bank account for payment by GE and GE (U) Ambala Cantt will give bank details to the trader for making payments due to each one by the other one.

After the expiry of due date of payment, penal charge @ 15% (Fifteen Percent) per annum calculated from exact number of days of delay shall be payable in addition to the amount due by both the parties.

Payment shall be made on summary sheet prepared by contractor based on daily final obligation report of IEX.

Weekly Invoice/Credit Note (as the case may be) for trading margin and energy charges shall be raised separately for Purchase & Sale of Power as per billing criteria.

No reserves shall be made from claimed amount by either of the party.

No deductions shall be made on account of Labour Cess but TDS as per rules in vogue shall be made. Necessary certificate in this regard shall be given on demand to the contractor. No deductions shall be made on account of Labour Cess. As per Circular No 13 of 2021 dated 30-06-2021 CBDT has issued guidelines to keep the transactions carried through power exchanges outside the preview of Section 194-Q (0.1% TDS by buyer from seller on Purchase of Goods) of the Income-Tax Act, 1961 but TDS under Section 194-J in vogue shall be applicable on Trader Margin and IEX fee.. Necessary certificate in this regard shall be given to the contractor.

Client to membership mandatory charges of IEX shall be reimbursed by GE including all taxes towards the client membership of Indian Energy Exchange (IEX) on the basis of submission of proof of the payments made by the bidder.

GE (U) Ambala Cantt, in no way shall be liable to pay any other charges except for the charges mentioned in the final obligation report of Power Exchange (Indian Energy Exchange). Any charges levied in obligation report on account of default of contractor shall not be paid exept trading charge, Cross Subsidy Surcharge and Additional Surcharge.

Scheduling, monitoring, trading & billing are done in co-ordination with the department by the firm.

Profit for each transaction to be ensured by the firm during trading. In case there is any loss in transaction, firm will bear the same.

In case of failure of CT/PT or metering system, firm will responsible for ensure electric supply with out any interuption.

Note:- Amount of credit of Rs. 0.0 for retrieved materials is mentioned in Schedule of Credit attached in tender documents in pdf form which will be deducted offline while acceptance of tender.