Section 8(b) in The Northern India Ferries (M.P.) Rules, 1962
(b)When an "A" class ferry is leased for two years, the total rent shall be payable in twelve instalments. The first instalment shall be 17.5 percent of the total bid, payable within fourteen days of the date of acceptance of the bid by competent authority. The remaining eleven instalments shall be 7.5 per cent each of the bid, payable on the 1st August and thereafter on the 1st of each alternative months until the instalments are completed.
