Project Cost

Querist : Anonymous (Querist) 23 April 2011 This query is : Resolved
Oue entity is in the Project Stage.On account of non-compliance of the terms and conditions of a contract,the Bank Guarantee given by the contractor was invoked by us.Can we reduce this amount from the project cost? The matter is subjudice.

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Guest (Expert) 24 April 2011
You cannot make any adjustment on account of the guarantee money till the matter is subjudice. You can keep the amount under some suspense head subject to adjustment on judgment of the case.

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