We appreciate your visit to ILO B1 B Witham tendered successfully for the supply of coal to the Great Northern over a period of one year In his tender Witham. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
1. The obligations of the tender awardee will cease on July 16 after the 45-day notice period. According to the tender's terms, the opt-out notice period is 45 days from the receipt date of the awarder. June 4 was the date on which the recipient received the registered letter, thus adding 45 days to it would result in July 16. As a result, the obligations of the tender awardee will cease on July 16 after the 45-day notice period.
2. The tender awardee will be obligated to supply 300 tons of coal to the tender awarder. Since the Great Northern placed the following orders on Witham on the following dates and their quantities are listed below:-
Order Date Coal Tons June 4 100June 10 200According to these details, Great Northern has requested a total of 300 tones of coal from Witham. Therefore, Witham is obligated to supply 300 tons of coal to the tender awarder.
3. The formula for ordinary damages is: D3 = I (P4 - P) x QWhere,P4 = Market price = $427P = Contract price = $4.02Q = Quantity ordered = 300 tons Substitute the values: D3 = I (427 - 4.02) x 300D3 = $1,27,194.
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