30A. [ Management of Contracts. [Inserted vide Bihar Finance (Amendment) Rules, 2005. Dated 10th November, 2005. Notify No. S.S.M-4-35/2002-6076 F(2). Published in Bihar Gazette (Ex. Ord.) dated. 11.11.2005.]
(1)Implementation of the contract should be strictly monitored and notices issued promptly whenever a breach of provisions occur.(2)Proper procedure for safe custody and monitoring of Bank Guarantees or other Instruments should be laid down. Monitoring should include a monthly review of all Bank Guarantees or other instruments expiring after three months, alongwith a review of the progress of supply or work. Extensions of Bank Guarantees or other instruments, where warranted, should be sought immediately.(3)Wherever disputes arise during implementation of a contract, legal advice should be sought before initiating action to refer the dispute to conciliation and/or arbitration as provided in the contract or to file a suit where the contract does not include an arbitration clause. The draft of the plaint for arbitration should be got vetted by obtaining legal and financial advice. Documents to be filed in the matter of resolution of dispute, if any, should be carefully scrutinized before filing to safeguard government interest.]Section XIIDeclaration, Losses, etc.Report of Losses
