&lt;p&gt;Payment shall be made subject to recoveries, if any, by way of liquidated damages or any other charges as per terms &amp;amp; conditions of contract in the following manner.&lt;/p&gt;

&lt;p&gt;&lt;strong&gt;A) Payment for Domestic Goods Or Foreign Origin Located Within India.&lt;/strong&gt;&lt;/p&gt;

&lt;p&gt;Payment shall be made in Indian Rupees as specified in the contract in the following manner:&lt;/p&gt;

&lt;p&gt;&lt;strong&gt;a) On delivery:&lt;/strong&gt;&lt;/p&gt;

&lt;p&gt;Ninety (90%) payment of the contract price shall be paid on receipt of goods in good condition and upon the submission of the following documents:&lt;/p&gt;

&lt;p&gt;(i) Three copies of supplier&amp;rsquo;s invoice showing contract number, goods description, quantity, unit price and total amount;&lt;/p&gt;

&lt;p&gt;(ii) Consignee Receipt Certificate as per TED Section XVIII in original issued by the authorized representative of the consignee;&lt;/p&gt;

&lt;p&gt;(iii) Two copies of packing list identifying contents of each package;&lt;/p&gt;

&lt;p&gt;(iv) Inspection certificate issued by the nominated Inspection agency, if any.&lt;/p&gt;

&lt;p&gt;(v) Insurance Certificate as per GCC Clause 11; i.e. 110% of the value to be insured in favour of M/s HLL infra Tech Services&lt;/p&gt;

&lt;p&gt;Limited, covering all risks basis for the goods from supplier/manufacturer warehouse to consignee warehouse. Similarly the insurance cover shall be obtained by the Supplier and should be valid till 3 months after the receipt of goods by the Consignee.&lt;/p&gt;

&lt;p&gt;If the equipment is not commissioned and handed over to the consignee within 3 months, the insurance will have to be extended by the supplier at their cost till the successful installation, testing, commissioning and handing over of the goods to the consignee. In case the delay in the installation and commissioning is due to handing over of the site to the supplier by the consignee, such extensions of the insurance will still be done by the supplier, but the insurance extension charges at actuals will be reimbursed.&lt;/p&gt;

&lt;p&gt;vi) Certificate of origin for imported goods&lt;/p&gt;

&lt;p&gt;&lt;strong&gt;b) On Acceptance:&lt;/strong&gt;&lt;/p&gt;

&lt;p&gt;Balance 10% payment would be made against &amp;lsquo;Final Acceptance Certificate&amp;rsquo; as per TED Section XVIII of goods to be issued by the consignees subject to recoveries, if any, either on account of nonrectification of defects/deficiencies not attended by the Supplier or otherwise. FAC need to be issued by the designated consignee after installation, commissioning, testing and one to two weeks of successful trail run of the equipment.&lt;/p&gt;