Administration Manual - B.E.S.T. Undertaking.

Category of
Registration
(Permanent
Deposit amount)
‘A’ Special
(Rs.50,000/-)
‘A’
(Rs.25,000/-)
‘B’
(Rs.10,000/-)
Exemption
Upto Order
Value (Rupees)
Order Value
upto 7.5 lakhs
Order Value
upto Rs.2.5
lakhs
Order Value
upto Rs. 1
lakh.
Additional S.D.
Payable
5% on amount
exceeding Rs. 7.5
Lakhs.
5% on amount
exceeding Rs. 2.5
Lakhs.
10% on amount
exceeding Rs. 1 Lakh
to Rs. 2.5 lakhs and
5% on amount
exceeding Rs. 2.5
lakhs.
B) Non-Registered Suppliers :- 10% of the value upto Rs.2.5 lakhs
and 5% on amount exceeding Rs.2.5 lakhs.
5.9.5.1 MODE OF PAYMENT :
i] Upto Rs.20,000/- by Cash or Demand Draft/Pay
Order only.
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ii] Above Rs.20,000/- by Demand Draft/Pay Order or
in the form of Bank Guarantee, as per the Undertaking’s
approved format. In case of such Bank Guarantee, Rs.2,000/-
will be charged as Administrative Charges.
In the event of the contractor failing to deposit such Security within
15 days from the date of Acceptance Letter, the Earnest Money deposited
with the tender shall be forfeited. The Undertaking shall in such an event,
have full discretion to cancel the acceptance communicated to the said
contractor.
This Security Deposit, either in whole or part thereof, shall be liable to
be forfeited without giving any reasons thereof, if the contractor fails to
observe and perform any of the terms and conditions of the contract.