clause which allowed for variation in
the quantity to extent of ± 25%. It is this variation clause in the
contract that was discussed and interpreted ... percentage provided in the contract between parties in that
case , would affect integrity of the contract. In this case no
variation was provided originally
informed the
Respondent that formulae for calculation of
price variation in the contract is having error
and as such the result of calculation of price ... changes during the contract period. In international contracts,
there is often the added factor of currency restrictions. Therefore
price variation clauses -- as the term itself
Learned Counsel for the respondent further submits that any variation
of the contract shall not be binding upon the respondent unless and until
the same ... Contract Conditions reads as follows:-
"Any variation of this contract shall not be binding on the
Purchaser or until the same is endorsed
under
Section 164 Cr.P.C and held that there are variations,
contractions and omissions in the evidence of prosecution
witnesses. The statements
Government of India, Ministry of Railways
regarding General Conditions of Contract - Price Variation Clause, Exhibit R26
before the Arbitrator, wherein it is stated that Railway ... make an indepth study of the
existing price variation clauses of General conditions of Contract. Board, it is
stated, in partial modification of the existing
relevant to note that the price
variation clause in the contract reads as follows :
PRICE VARIATION CLAUSE FOR WORKS
The contract price shall be adjusted ... above clause, to calculate price variation, the variation
should to calculated once in quarter if the contract is for a period of 12
months. Admittedly
contract
in question. The period of the contract was from 11 October 2012 till 30
November 2015. There was extension to the contract period ... separate bill raised for price variation, as per the price
variation clause as contained in the contract. The price variation clause
being Clause
clause which allowed for variation in
the quantity to extent of ± 25%. It is this variation clause in the
contract that was discussed and interpreted ... percentage provided in the contract between parties in that
case , would affect integrity of the contract. In this case no
variation was provided originally
interpretation of clause-7 in the contract. It relates to price
variation. Contract period was for two years and extended by a
month. The work
Ministry of Railways/Railway Board on the subject
:- 'Price Variation in Works Contract', has issued a series of clarifications on the matter ... consent of the actual parties to the
contract to vary a term in the contract and after variation of a term in the original contract
