TCM Limited has received the following work order, DT. 17/03/2023 from Agency for New and Renewable Energy Research and Technology (ANERT), Department of Power, Government of Kerala. Significant terms and conditions of order(s)/contract(s) awarded in brief.

An agreement has to be executed within 7 days of receipt of the work order for fulfillment of the contract along with a security deposit of INR 1,60,456 being 3% of contract value of INR 53,48,537. The work is to be completed within 60 days. Upon delivery of major components at the respective site, 30% of contract value will be released, on completion of installation and filing application for connectivity with electrical utility of the plant, 30% of contract value would be released as second part.

On commissioning, 30% of remaining contract will be released. Final 10% will be retained as performance security and will be released upon completion of the term. 3% security deposit will be released on completion of supply, installation and commissioning.

Additional 2.5% Non-Refundable License fee will be charged on total contract value (total amount plus taxes) and GST will be applicable on license fee. Ten years warranty should be provided by Supplier for the system and components or parts.