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General Terms & Conditions (GTC) of NIT GENERAL TERMS & CONDITIONS (GTC) OF NIT FOR PROCUREMENT OF IMPORTED FERTILIZERS 1.00 Definition: The terms used in the contract shall have the following meanings:

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General terms and conditions refer to the standard rules and regulations that apply to a particular agreement or transaction.

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Any party entering into an agreement or transaction may be required to file general terms and conditions, depending on the nature of the agreement.

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The purpose of general terms and conditions is to provide clarity and protection for all parties involved in an agreement or transaction.

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General terms and conditions typically include details such as payment terms, product specifications, delivery schedules, and dispute resolution procedures.