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Loss of Profit

ICON-9 Loss of Profit: Payment of 10% of prime cost as a reasonable measure of loss of profit due to illegal termination.

TERMINATION OF CONTRACT

ICON-10 Termination of contract: There is a subtle difference between determination of contract and recession of contract. One must therefore be very careful.

RATES ONCE PAID CANNOT BE REDUCED LATER

ICON-7 Rates once paid cannot be reduced later- If any rate is being paid upto a certain bill, same cannot be reduced if refuted by the contractor UOI Vs Harcharan Das Gupta

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Loss of Profit

TERMINATION OF CONTRACT

RATES ONCE PAID CANNOT BE REDUCED LATER