Contract Management Procedure 3/3

**Indian Seafarer Maritime Regulatory Summary**

Applicable to: All Indian seafarers and maritime companies

Effective Date: 30th August 2023

Superseded Circulars: None

Key Changes and Requirements

The DGS Order 12 of 2023 introduces a new contract management procedure for the Finance & Accounts Department.

Key Changes: All contracts must contain provisions for recovery of liquidated damages, warranty clauses, rejection of goods, payment of taxes, and unconditional power of revocation.
Compliance: All ministries and departments must ensure compliance with the new procedure and obtain approval from the Competent Authority (CA) for any deviations.

II/4 Contract Management Procedure 3/3

Important Note

Non-compliance with the new contract management procedure may result in legal penalties and financial losses.

Want to learn and share your knowledge about the maritime world?

Explore the Blog app on Navvyx - Get maritime insights from across the world in one place.