173. Any contract for the execution or performance of any work or service or for the supply of any articles or materials or for any other matter necessary for the purpose of this Act which includes an estimated expenditure or revenue exceeding the limits as may be prescribed by regulations or which will or is expected to endure for more than one year, shall be; reduced to writing and signed by the Chairman and the Secretary of the Pradeshiya Sabha on behalf of the Pradeshiya Sabha and sealed with the common seal of the Pradeshiya Sabha and in addition to such other matters as may be deemed necessary for inclusion in any such contract, shall specify
| (i) the work or services to be executed or performed or the articles or materials to be supplied ; |
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| (ii) the price or rate to be paid for the work, service articles or materials ; |
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| (iii) the time or times within which the work or services is to be completed or the articles or materials are to be supplied ; |
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| (iv) any penalty or penalties to be imposed in case of breach. |
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Sri Lanka Consolidated Acts