Tender - risk & cost condition


Hi,

I need advise on the foll. issue.

We have entered into an agreement with a party wherein the party shall execute a job for us. As per tender risk & cost  conditions, in case the party fails to execute the job, we may get the job executed froma third party at the cost of the first party. The party has failed to execute the job and we have got the job done from a third party. Now, we are sending recovery notice to the first party & the party is not responding. Since we want to move tot he court now, can you pls guide on what is the time frame to approach the court as per the "Limitations act" & "Suit for recovery". I have read somewhere that it is 3 years. If it is 3 years, the time period will start from which date i.e. the date of annullment of the agreement with first party, the execution of agreement with the third party or the date of first recovery notice sent to the party?

pls guide.

Regards

 
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Business

Generally , limitation period starts from the date "the cause" occurs.

 

in this case, that is the date the agreement was anmnulled since that cause set into motion the subsequent events.

 

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ADVOCATE AND CORPORAE ADVISOR

dear mr abhishek

 

please do send me a copy of the agreement to enable me comment .

 

dr vedula gopinath    vgnath@gmail.com              m9848227926

advocate and arbitrator

 
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