UPS - Unified Pension Scheme and UPS Vs NPS

 

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Differences between SD and PG - Works Contracts

DIFFERENCES BETWEEN  ( In Works contracts)

Features	Security Deposit (SD)	Performance Guarantee (PG)
Object	In token for the due fulfilment of the contract	In token for the purpose of successful performance by the Contractor to execute the work. Introduced in lieu of risk action procedure (contracts rescinded due to failure of contractors)
Due Date	EMD/Bid Security of successful tenderer will be retained as part S.D., balance will be recovered at the rate of 6 % of the bill amount till the full Security Deposit is  recovered,	Obtained from successful bidder after issuance of LOA, but within 60 days of issue of LOA. a)      Within 21 days from LOA – No interest b)      22 to 60 days from LOA – penal Interest 12 % per annum
Balance	Balance Security Deposit will be recovered only from the running bills of the  contract and no other mode of collecting SD shall be permitted	Submit the Performance Guarantee in any of the forms i.e., Cash, Irrevocable Bank Guarantee, Govt securities, DDs of nationalized banks, Post office SB deposit, NSCs etc.
If fails	There is no question of failing to submit the balance SD, because the same is recovered from running bills at the rate of 6 % of bill amount till the full SD is recovered.	In case the contractor fails to submit the requisite PG even after 60 days from the date of issue  of LOA, the contract shall be terminated duly forfeiting EMD and other dues, if any payable against that contract. The failed contractor shall be debarred from participating in re-tender for that work.
Releases	Can be released subject to A. Physical completion of the work and Maintenance period if any. B. After passing Final Bill C. Obtaining the No Claim certificate from the Contractor D. Obtaining the No Dues certificate against   Contractor from the Executive	Can be released immediately after physical completion of the work.

                                                                 

EMD & SD in Stores - Differences between

                                        

                                      Differences between EMD & SD in Stores 

	EMD  Earnest Money Deposit	SD Security Deposit
Calculated on	Tender Value	Contract value
Rounded off to nearest higher	Rs. 10	Rs. 10
Up to Rs. 25 Lakhs	Nil	Nil
Rs. 25 Lakhs to Rs. 50 Crore	2%	5%
	Maximum is Rs.20 Lakhs	Maximum is Rs. 50 Lahs
Above Rs. 50 Crore	Fixed Rs. 50 Lakhs	Fixed Rs. 1 Crore (Global Tenders - No ceiling)
Valid for	Final bid validity period plus 45 days	Date of completion of all contractual obligations plus 60 days
If not submitted	Offers shall be summarily rejected	The EMD shall be forfeited and case be dealt with as that of withdrawal of offer by the Tenderer as per extant instructions
	EMD  Earnest Money Deposit	SD Security Deposit
Forfeit	If withdraws the Offer within validity  or  If not submit the balance SD within 21 days in case of awarding the Stores contract	In case of failure by the Supplier to meet deliveries for any lot, Railway may cancel the Contract for default part by forfeiting SD commensurate to that lot
Exempted cases	1.Up to Rs. 25 Lakhs  2. Govt Depts 3. Other Railways 4. Indian Ordnance factories 5. Railway PSUs 6. MSEs	1.Up to Rs. 25 Lakhs  2. Govt Depts 3. Other Railways 4. Indian Ordnance factories 5. Railway PSUs
Exempted for Single Tender / PAC items	Hqrs:  1. Personal Approval of TAA, not below the level of PCMM. 2. Finance concurrence not required 3. Decided on case to case basis  4. Suitably incorporated in the Tender conditions Field Units:  1. Personal approval of TAA, but not below the SAG level  2. Finance concurrence is required 3. Decided on case to case basis 4. Suitably incorporated in the Tender conditions	Hqrs:  1. Personal Approval of TAA, not below the level of PCMM. 2. Finance concurrence not required 3. Decided on case to case basis  4. Suitably incorporated in the Tender conditions Field Units:  1. Personal approval of TAA, but not below the SAG level  2. Finance concurrence is required 3. Decided on case to case basis 4. Suitably incorporated in the Tender conditions
Debarment - exemption in case of False declaration	6 Months	6 Months

Note: 

1. In exceptional cases, Railways reserves the right to increase the upper ceiling of Security Deposit, up to 10% of the contract value.
2. SD clause is applicable - Risk purchase clause shall not be applicable 
3. SD clause is not applicable - Risk purchase clause shall be applicable 

 

LD – Liquidated damages for delayed supply

 

• 0.5 % of the price of stores per week or part of the week of delay

 

• Upper limit – 10% of the value of contract (irrespective of delays)

 

end

 

 

Guarantee Vs Warranty - Differences between

 

Differences between Guarantee & Warranty

 

Area	Guarantee	Warranty
In Simple	General promise of satisfaction	Specific remedies under defined conditions
Definition	A Promise about the quality or performance of a Product	A Written assurance fo repair or replacement of a Product
Scope	Broader	Limited
Cover	Repair, Replacement or Refund	Repair & Replacement only
Legality	Informal & Not legal	Formal, Written & legally binding
Duration	Shorter period	Longer period
Cost	Free of cost	Additional purchase or fees

 

Approval Vs Sanction अनुमोदन बनाम मंजूरी

 

Differences between Approval & Sanction

Approval and Sanction are two distinct terms often used interchangeably in Indian Railways parlance, but they carry specific meanings. 

Approval	Sanction
First step	Second step
Formal acceptance of a proposal, plan, or project	Formal authorization to incur expenditure on the said proposal, plan, or project
Like giving a project the green light	Like giving a project the money to go ahead
Doesn’t involve financial commitment	Involve financial commitment
Abstract Estimate: for Administrative approval	Detailed Estimate: for Technical sanction
Example: Approving New Line and included in the Pink Book (Works Programme)	Example: Sanction of expenditure for construction of New Line by the authorities as per MSOP - Model Schedule Of Powers

अनुमोदन और मंजूरी के बीच अंतर

अनुमोदन और मंजूरी दो अलग-अलग शब्द हैं, जिन्हें भारतीय रेलवे की भाषा में अक्सर एक दूसरे के स्थान पर प्रयोग किया जाता है, लेकिन उनके अर्थ विशिष्ट होते हैं।

अनुमोदन	मंजूरी
पहला कदम	दूसरा कदम
किसी प्रस्ताव, योजना या परियोजना की औपचारिक स्वीकृति	उक्त प्रस्ताव, योजना या परियोजना पर व्यय करने के लिए औपचारिक प्राधिकरण
जैसे किसी प्रोजेक्ट को हरी झंडी देना	जैसे किसी परियोजना को आगे बढ़ाने के लिए धन देना
इसमें वित्तीय प्रतिबद्धता शामिल नहीं है	वित्तीय प्रतिबद्धता शामिल करें
प्राथमिक अनुमान: प्रशासनिक अनुमोदन हेतु	विस्तृत अनुमान: तकनीकी स्वीकृति के लिए
उदाहरण: नई लाइन को मंजूरी देना और पिंक बुक (कार्य कार्यक्रम) में शामिल करना	उदाहरण: एमएसओपी के अनुसार प्राधिकारियों द्वारा नई लाइन के निर्माण के लिए व्यय की स्वीकृति - शक्तियों की आदर्श अनुसूची