Government Amends Public Procurement Regulations for Extension of Contracts
Summary
The Nepal government has amended its Public Procurement Regulations to allow deadline extensions for stalled construction and procurement contracts with at least 50% progress, under specific conditions without additional financial compensation.
Key Points
- Nepal government issued the fifteenth amendment to the Public Procurement Regulations allowing contract deadline extensions.
- The new regulation permits extension if contracts have at least 50% physical progress and were stalled due to government-related issues or budget constraints.
- Applicants must submit reasons and new work schedules within 30 days to qualify for extension without extra financial compensation.
- Failure to apply within the deadline or complete the work will result in contract termination, forfeiture of performance bonds, and blacklisting.
