453
the sum of £35,000 half of which shall be paid when the construction work is half completed, but not later than eighteen (18) months after commencement of construction, and the other half upon completion of the line. This amount shall be regarded as a commutation of all commissions to which the Corporation and its Agents would properly be entitled, and of payments of all services rendered in the construction and equipment of the Railway, in respect of the present Loan; but in the event of a branch line being decided upon by the Chinese Government for construction in connection with this Railway, and if the Chinese Government decide to build the same by issue of a foreign loan and not from its own resources, then the Corporation shall have the first option of tendering for such Loan, and a further payment, proportionate to the amount of such supplementary Loan, and calculated at the same rate as the commutation hereinabove mentioned, shall be made to the Corporation as commutation of its commission for all services in respect of construction.
In return for this commuted commission the Viceroy is entitled to require the Corporation to superintend the purchase of all materials required for the construction and equipment of the Railway, which shall be purchased in the open market at the lowest rate obtainable, it being understood that all such materials shall be of good and satisfactory quality. At equal prices and qualities, goods of British manufacture shall be given preference over other goods of foreign origin. Invoice and inspector's certificates are to be submitted to the Viceroy.
With a view to encouraging Chinese industries, Chinese Government and other materials are to be preferred provided price and quality are suitable.
No commission shall be allowed to the Corporation on the purchase of materials except as above provided. All trade discounts or rebates, if any, are, during construction, to go to the construction account and after completion, to the credit of the Railway.
Article 10
453
the sum of £35,000 half of which shall be paid when the construction
work is half conoleted, but not later than eighteen (18) months after
commencement of construction, and the other half upon completion of
the line. This amount shall be regarded as a commutation of all
commissions to which the Corporation and its Agents would oroperly
be entitled, and of payments of all services rendered in the construc
-tion and equionent of the Railway, in respect of the oresent Loan;
out in the event of a branch line being decided upon by the Chinese
Government for construction in connection with this Railway, and if
the Chinese Government decide to build the sene by issue of a
foreign loan and not from its om resources, then the Corporation
shall have the first option of tendering for such Loan, and a further
payneno, oroportionate to the amount of such supplementary Loan, and
calculated at the same rate as the commutation bereinabove mentioned,
shall be node to the Corporation as commutation of its connission
for all services in respect of construction.
In return for this commuted commission the Viceroy is
antitled to require the Corporation so superlatend the purchase of
all materials required for the construction end soulonent of the
Railway, which shall be purchased in the ooed market at the lowest
rate occainɛble, it being understood that all such materials shell
be of good and satisfactory caaiity. At equal races and qualities,
goods of Ericish manufacuare shell be given oreference over other
goods of foreiga origin. Invoice and inspector's certificates are to
be submitted to the Viceroy.
with a view to encouraging Chinese industries, Chinese
Government and other materials are to be preferred provided price
end quality are suitable,
No commission shall be allowed to the Corporation on the
ourchase of materials except as above orovided. All trade discounts
or rebates, if any, ære, daring construction, to go to the construct-
ion account and after completion, to the credit of the Railway.
Article 10
No comments yet.
Private notes are available after approval.