Relation with SEIP
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Skills Development Coordination and Monitoring Unit (SDCMU), Skills for Employment Investment Program (SEIP), Finance Division, Ministry of Finance, Government of Bangladesh and having its office at ProbashiKallyanBhaban (15th Floor), 71-72 Old Elephant Road, Eskaton Garden,Dhaka-1000 (hereinafter referred to as "SDCMU" which expression shall, unless it be repugnant to the subject or context thereof, include its successors and permitted assigns) acting through the National Project Director, SDCMU of SEIP.
Board of Directors, Industry Skills Council of Construction Sector(CISC), an entity registered under Companies Registration Act, 1994having its registered office situated at address of CISC (hereinafter referred to as "CISC" which expression shall, unless it be repugnant to the subject or context thereof, include its successors and permitted assignees) acting through the President duly authorized vide Board resolution.
SDCMU and CISC are hereinafter individually referred to as "Party" and collectively as "Parties".
(i) SDCMU is established with the objective of developing unskilled and semi-skilled labor force into productive and skilled labor in priority sectors and to support Government institutes, private companies, non-government organizations, industry skill councils and industry associations for achieving this objective. SDCMU is utilizing the funds provided by the Asian Development Bank (ADB) under Loan 3131-BAN: Skills for Employment Investment Program (SEIP) to provide assistance towards operationalization of several ISCs in the focus sectors.
(ii) CISC intends to avail the support and assistance of SDCMU as set out in the attached Business Plan as shown in AnnexureI foroperationalizing theISC and carrying out a part of its activities towards improved skill development systems.
(iii) SDCMU has agreed to, inter-alia, grant an Assistance of an amount of BDT Three Crore Seventy-OneLakh Fifty-Two Thousand One Hundred and Fifty only (BDT 3,71,52,150) (CONTRACT Amount) to CISC for the specified purpose of skill development expenses incurred by CISC Board in such form and manner as mentioned under the present Agreement.
(iv) This Contract on Grants shall be effective immediately upon signing by both the Parties and shall remain valid for 03 years from the date of signing, unless terminated earlier due to any default by the CISC of any provisions under this Agreement. The 1st and 2nd year's fund under the contract will be provided from Tranche 1 (Loan no.3131) and 3rd year's fund will be provided from Tranche 2 (Loan no. 3468) of Skills for Employment Investment Program.