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PAYMENT OF BILLS

100% payment of the Contract price will be paid by A/c payee cheques within 60 days from the date of receipt of entire lot as scheduled in commencement period or in monthly delivery schedule of material at the stores in good condition. The material is to be tested/ measured by the field Officers/Consignees wherever provided for Date of issue of cheques shall be the date of payment. Following documents will have to be forwarded to the Chief Accounts Officer (SB), MSEB, Prakashgad, Station Road, Bandra(East), Mumbai - 400 051 along with bills in triplicate with copy to the consignees, to facilitate payment.

(i) Bill/Invoice.

(ii) Certificate of proper dispatch

(iii) Xerox copy of dispatch document (i.e. RR/LR).

(iv) Inspection/TC Approval.

(v) Other documents like proof of having paid the excise duty as required under the prevailing rules (In case the supplier is a trader, these documents from the original manufacturer of the product shall be produced.) copy of acceptance letter of bank guarantee for security deposit, authority of exemption thereof.

(vi) Detailed packing list.

(vii) Bill of materials.

(viii) The relevant document in support of price variation claim.

(ix) Xerox copy of monthly despatch statement required as per clause 21 above.

(x)    Chartered Accountants certificate for having passed entire MOD VAT benefit to purchaser.

Where required by the Board, the successful tenderer must send the operation and maintenance manuals, test certificates, drawings etc. for the material ordered. These should be sent immediately after despatch of material and a statement to that effect should be made in the invoice. Failure to comply with this provision will result in delay in payment of the bill.

The supplier shall forward the original R.R./L.R. direct to the consignee along with various documents as stated below in this clause. The original bill shall be forwarded to the Chief Accounts Officer (SB), MSEB, Prakashgad, Bandra(E) and marked ORIGINAL, the bill should indicate the sales tax registration certificate no. and date held by him under the Sales Tax Act. The Board shall not be responsible for delay in payment of bills if the supplier fails to comply with any of the above requirements.

Suppliers copy of S.R. Note will be forwarded by the consignees through their respective Major Stores for suppliers record towards acknowledgement of receipt of material. Accounts copy of S.R. Note will be forwarded by the respective Major Stores to C.A.O. (SB) for payment.

In case the supplier is a trader, it shall be imperative for him to furnish documentary evidence of having paid excise duty by the manufacturer whose product has been offered.

Wherever the payment is to be effected against Material Receipt Intimation (MRI) and if the supplier fails to forward the documents such as inspection report, bill of materials, approved drawings, etc. along with the invoice to the respective consignees, the MRI issued will be a qualified one and no payment shall be made against the said MRI.

The whole of the first lot as well as monthly lot when delivered in installments, the date of delivery and due date of payment will be counted after the receipt of the entire lot along with following documents complete in all respect by the consignee:

i) Copy of invoice/challan

ii) Packing list

iii) Approved sample (if applicable)

iv) Original copy of RR/LR

v) Inspection approval letter signed by the Inspecting Officer in Blue ink along with copies of routine/acceptance test certificate or copy of letter of waival of inspection as the case may be.

The Board at its discretion, shall arrange for payments as above from its own sources or alternatively under ICICI line of credit/IDBI rediscounting scheme, as per terms of ICICI /IDBI as may be applicable, in which case, co-acceptance charges/stamp duty shall be to Board's account.



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