(1) On the basis of the Memorandum of Understanding according to Section 31 and Section 35 and the details received according to Section 36, the relevant body shall form a negotiation committee to negotiate with the proposer on the terms and conditions of the contract.
(2) The negotiation committee constituted according to sub-section (1) shall negotiate with the proposer as necessary and prepare the final draft of the agreement by including the following points in the agreement:-
(a) Description of the project,
(b) Date of commencement and completion of the project,
(c) Facilities and concessions to be obtained by the permit holder during the construction or operation of the project,
(d) Duration of Permit,
(e) Phased details of project implementation and implementation schedule,
(f) Technical quality and standards of the project (g) Project operation details,
(h) Conditions of operation or handover of the project,
(i) Arrangements related to fees to be collected from consumers while conducting the project,
(j) Arrangements related to insurance of the project,
(k) Machines connected to the project and the condition and quality to be at the time of handover of the project,
(l) Fees and royalties to be submitted to the relevant body and method of payment,
(D) A situation where the contract is canceled due to the failure of any party to fulfill the obligations under the contract during the implementation of the project,
(d) If there is any investment by the related body in the project, such investment and the return received by the related body,
(n) Arrangements related to acquisition of land,
(p) Provisions related to further project study and operation if allowed (th) If it is possible to sub-lease, the related conditions and other provisions,
(d) If the project is to be transferred, such body,
(N) Other essential matters.
(3) According to sub-section (2), the relevant body shall approve the document agreed upon for the contract and enter into a contract with the proposer.
(4) The procedure of the negotiation committee under sub-section (1) shall be as determined by the said committee.