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PERFORMANCE GUARANTEE FOR CONTRACTORS
Time to think of the repair cycle? 8 engineering stocks from India’s capital goods ecosystem with upside potential of up to 26%At a time when the markets are focused on war, crude oil, inflation, and supply disruption, it is easy to miss a quieter shift. India’s eng...- From marble to door handles: How ultra-luxury housing is reshaping India’s hardware industryIndia's ultra-luxury housing boom is elevating building hardware from a functional necessity to a critical design element. Developers and h...
- Insurance surety bonds data gaps under regulatory lensIn a proactive move to strengthen the financial landscape, Indian regulators are gearing up to close the reporting voids surrounding insura...
- NeSL enabling real-time access to digital debt & claims data in insolvency casesNeSL is providing instant access to digital default records for insolvency cases. This helps authorities quickly verify debt and claims. Am...
- Indian Railways tightens contract execution frameworkIndian Railways is implementing reforms to enhance construction quality, including assessing contractor bid capacity for projects over Rs 1...
- Understanding surety bonds and their benefits for the infrastructure sectorIndia's budget has allocated ₹11.11 lakh crore for infrastructure development, focusing on industrial parks, housing, water supply, sewage ...
- Govt considers giving financial creditor status to insurers issuing surety bond during resolutionThe Indian government is considering changes to the Insolvency and Bankruptcy Code (IBC) to give insurers the same status as banks in cases...
- Take advantage of surety bonds, Irdai Chairman to stakeholders in infra spaceThe chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 l...
- FinMin agrees to allow highway contractors to convert bank guarantees into surety bonds, says GadkariThe Indian finance ministry has given the National Highways Authority of India (NHAI) and National Highways & Infrastructure Development Co...
- Changes in the works for surety bonds to make them lucrative: Nitin Gadkari“It took us three years to introduce the Insurance Surety Bond product after following up with regulatory authorities. The bond can be offe...
- Ratings of road contractors in the offing to curb errant operators: Nitin Gadkari“The financial and technical qualifications were very stringent earlier. This had reduced the number of players in the road sector. Then we...
- Reliefs for road builders extended till March 2023It has been decided that performance guarantee may continue to be released on pro-rata basis, as provided in the contract, if the concessio...
- NCLAT dismisses Siemens' plea against encashment of its guarantee in Meenakshi EnergyThe appellate tribunal has upheld the earlier order of the Hyderabad bench of the National Company Law Tribunal (NCLT) in this regard and n...
- Govt frames rules for release of 75% of amount stuck in arbitration in construction sectorThe Cabinet Committee on Economic Affairs (CCEA) had in November 2019 permitted government departments to pay contractors 75 per cent amoun...
- Over Rs 10,000 crore released as payments in the last few months: MoRTHThe ministry of road transport and highways has released over Rs 10,000 crore as payments to contractors over the last couple of months, wi...
- Irdai examining feasibility of insurers offering surety bonds for road contractsIn the wake of the COVID-19 pandemic and its subsequent economic impact on liquidity and cash-flows in the Indian banking sector, the Minis...
- ONGC extends deadline to accept bids for 64 fields to January 3Contractors will now have more time to present performance bank guarantees and field development plans, and can offer lower performance gua...
- Norm to get stalled projects moving a welcome move: Rajnish Kumar, SBIConstruction industry is a very important component of our GDP and lot of money is stuck on account of disputes between the contractors and...
- Rs 50,000 crore held up between Utilities & EPC Contractors: IEEMAIEEMA submitted a model document on ‘Standard Terms and Conditions for Turnkey Transmission, Distribution, and Substation Contracts’ to the...
- Government can't terminate Jindal Petroleum's oil and gas field contract: Gopal SubramaniumSubramanium has opined that Jindal Petroleum has become a contractor despite failing to fulfil its requirements of the PSC, Dhir wrote.
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