West Asia conflict a ‘war’, government firms can invoke ‘force majeure’ clause – The Times of India

West Asia conflict a ‘war’, government firms can invoke ‘force majeure’ clause – The Times of India

The clause allows relief in extraordinary circumstances beyond human control, such as war, and frees parties from contractual liability NEW DELHI: The West Asia conflict should be treated as a “war” to invoke the ‘force majeure’ clause in public contracts where obligations have been impacted by disruptions, the finance ministry has said.It has allowed govt…

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Stop retendering as it leads to inefficiency, CAG tells finance ministry – The Times of India

Stop retendering as it leads to inefficiency, CAG tells finance ministry – The Times of India

New Delhi: The comptroller and auditor general has written to finance ministry expressing concern over the practice of cancellation and retendering in ongoing tendering processes, which, it said, has become a major bottleneck in govt’s ambition of becoming a $7 trillion economy by 2030.In its communication to the expenditure dept, CAG said the govt must…

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