Due Date extended for Vivad se Vishwas II scheme till December 31, 2023

The Ministry of Finance on Thursday extended the deadline for submitting claims to settle pending issues linked to government contracts by two months, until December 31, 2023.

The Vivad se Vishwas II scheme was initiated on July 15 to resolve problems in government contracts, and the deadline for contractors to submit claims was October 31.

The scheme applies to all domestic contractual disputes in which the government of India or government undertakings are one of the parties.

It has been decided that claims under the Vivad se Vishwas II scheme would henceforth be accepted until December 31, 2023.

Under this scheme, the settlement amount offered to the contractor for court awards received on or before April 30, 2023, will be up to 85 % of the net amount awarded/ upheld by the court.

The settlement amount offered for arbitral awards issued on or before January 31, 2023, is up to 65% of the net amount awarded.

For the implementation of this programme, the Government e-Marketplace (GeM) created a specialized webpage. GeM will only handle eligible claims. Contractors working on non-GeM Ministry of Railways contracts must register their claims on the railway’s e-procurement system portal, IREPS.