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0GUJARAT MARITIME BOARD Government of Gujarat Division (Much.) Bed port, Jamnagar. DRAFT TENDER PAPERS FOR ELECTRICAL WORK Name of work: Annual Maintenance Contract of Cables, Streetlight of Water.
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Annual maintenance contract format FAQ
The AMC amount will be invoiced by the contractor and the payment will be made quarterly in arrears. The payment of AMC charges shall be released only at the end of each Quarterly maintenance period, after successful discharge of contractor's obligations.
Sections to Be Included in a Product Maintenance and Repair Agreement Provider and buyer contact information. Definitions of common terms. General service terms and specifications. Response time and returns procedure. Support conditions and obligations. Service exclusions. Price, Invoicing, and Payment terms.
1) The full form of AMC is the Annual Maintenance Contract. It is also recognized as the annual fee for repairs. It is provided after shipment by all manufacturers. It is the term that applies to the manufacturers and the customers.
The typical annual maintenance contract format includes: The name and address of the involved parties, usually a business and the company providing the service. Price of the contract. Annual maintenance contract terms and conditions. Penalties for breaking contract or contract termination.
An annual maintenance contract (AMC) is an agreement with a service provider for repair and maintenance of property used by your company. The service can be of any property owned by your company from the large manufacturing machines creating your products down to the computers and printers used in your offices.
A maintenance agreement outlines the steps one party will undertake to insure the upkeep, repair, serviceability of another party's property. Maintenance contracts are commonly used by companies that take care of vehicle fleets, industrial equipment, office and apartment buildings, computer networks, etc.
In your maintenance agreement, you will need to include: A section that defines both the provider and the client including their full legal names and any terms that need to be defined in the contract. A list of the services that will be performed in detail. Make sure all possible services as included.
TDS on AMC Charges (Annual Maintenance Charges) is required to be deducted under Section 194C of Income Tax Act 1961 at the rate of 1% or 2% (as the case may be) for payments to residents.
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