Contract

S DEB (Querist) 03 September 2013 This query is : Resolved
After signing a contract by both the parties the contractor found that his profit margin would be hit if he performs the contract as per the stipulated clauses because the price estimate of a particular technical item was not according to the market price at that point of time. Now he has offered a less costly item with different specifications but specifically guaranteeing the performance of the project as per the terms of the contract.

In the above scenario can we accept his request because it is only the change in technical specification of an equipment and that too without any financial implication.

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Rajendra K Goyal (Expert) 03 September 2013
Change in the terms of agreement already signed should be through supplementary agreement signed and agreed by all the parties of the original agreement.

Sudhir Kumar, Advocate (Expert) 22 September 2013
you have to stated which type of organisation you are. Is it a Govt deptt / PSU.

Sudhir Kumar, Advocate (Expert) 22 September 2013
repeated

http://www.lawyersclubindia.com/experts/Contract-Performance-420401.asp#.Uj8R-H_Qzmk

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