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Ministry of Finance Extends Vivad se Vishwas II Scheme Deadline for Government Contract Disputes In a significant development, the Ministry of Finance announced on Thursday its decision to extend the deadline for submitting claims under the Vivad se Vishwas II scheme by two months, now allowing c
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FAQ :
The new deadline for submitting claims under the Vivad se Vishwas II scheme is December 31, 2023.
The scheme is designed to resolve domestic contractual disputes involving the government of India or government undertakings.
For court awards passed on or before April 30, 2023, contractors may receive up to 85 percent of the net awarded amount. For arbitral awards passed on or before January 31, 2023, the settlement is up to 65 percent of the net awarded amount.
Eligible claims for most government contracts can be submitted via a dedicated webpage on the Government e-Marketplace (GeM). Contractors with non-GeM contracts from the Ministry of Railways must register claims on the IREPS portal.
The deadline was extended in response to ongoing challenges faced by contractors in meeting the original deadline and to accommodate practicalities for stakeholders, ensuring a smoother resolution process.
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