9) Project Status Reporting Mechanism
1. Submission of fortnightly progress reports
2. Submission of monthly work progress reports
10) Change Management
Any Change in terms and conditions of any part of this agreement shall be mutually agreed upon and reviewed prior to implementation. The Change Management Process of Bank Muscat IT/SS/CC Department shall be applicable for steps of implementation of change.
11) Penalty
Contractor shall be liable for a penalty of RO100/- per day in case of delay up to 30 days, to a maximum of 10% of the Contract Value. In the event that supervision services are required after the agreed contract period, an amount of RO50/- per day will be deducted from contractors account as part of penalty. Any delay in project without proper justification with subject to penalty clause
12) Project Commercials
Project Cost
To be borne by the landlord
Payment Schedule for Project
As agreed by the Landlord