(1) In accordance with the purchase agreement, the local body may specify any or all of the following when paying the running bill or any other bill invoice:-
(a) On a monthly basis,
(b) On the basis of the actual performance mentioned in the measurement book after checking the technical measurements,
(c) If an index to measure the completed work is specified in the purchase agreement, after such index is received and on the basis of the completed work if not specified,
(d) on the basis of the quantity of work transferred or completed,
(e) Based on the terms of the bond.
(2) In order to receive the payment of the running bill or any other bill of lading, the supplier, builder, service provider or consultant shall submit the necessary documents according to the purchase agreement.
(3) According to the purchase agreement, the local body shall pay such bill or invoice within thirty days after the running bill or any other bill invoice and documents submitted as per sub-rule (2) are approved by the relevant authority.
(4) When making payment according to sub-rule (3), the local body shall deduct five percent of the amount mentioned in the running or other bill or invoice as retention money.
(5) In the purchase agreement, if the local body pays the amount according to the bill or invoice quickly, if it is mentioned that the supplier, builder, service provider or consultant will give a certain amount or percentage discount of such payment, then the local body shall pay only after deducting the discount amount.< br> (6) The local body may make the following arrangements in the purchase agreement:-
(a) If the payment amount has been written in any previous running bill or any other bill invoice in the purchase agreement due to any reason or error, the local body itself or at the request of the relevant supplier, builder, service provider or consultant, in the subsequent running bill or any other bill invoice. Such payment amount may be corrected or modified,
(b) by suppliers, builders, service providers or consultantsIf the performance is not performed according to the terms of the purchase agreement, the local body may not give or deduct the payment according to the running bill or any other bill.
(7) The local body shall make the payment as per sub-rule (1) within the period mentioned in the purchase agreement. If the payment is not made within that period, the interest will have to be paid according to the purchase agreement.
(8) In accordance with clauses (a), (b), (c) and (d) of sub-rule (1), when paying more than twenty five thousand rupees to suppliers, builders, service providers or consultants, the payment shall be made through account payable cheque.