Thursday, July 18, 2024

Govt launches Vivad se Vishwas scheme

Must read

PNS | New Delhi

The finance ministry on Wednesday said it has launched a scheme to settle pending disputes relating to government contracts under the Vivad se Vishwas II scheme and contractors will have time till October 31 to submit their claims.

The scheme will apply to all domestic contractual disputes where one of the parties is either the government of India or an organisation working under its control. Under the scheme, for court awards passed on or before April 30, 2023 the settlement amount offered to the contractor will be up to 85 per cent of the net amount awarded/upheld by the court. For arbitral awards passed on or before January 31, 2023, the settlement amount offered is up to 65 per cent of the net amount awarded.”The Department of Expenditure, Ministry of Finance, has launched the scheme, ‘Vivad se Vishwas II (Contractual Disputes)’, to effectively settle the pending contractual disputes of government and government undertakings,” it said in a statement.

Government e-Marketplace (GeM) has developed a dedicated web page for implementation of this scheme. Eligible claims shall be processed only through GeM. For non-GeM contracts of the Ministry of Railways, contractors may register their claims on railway’s e-procurement system portal IREPS.

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article