ESTIMATED COST RS.31.50 LAKH (RUPEES THIRTY-ONE ... - IDCO

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9. The tenderer shall also furnish a work schedule in the form of a bar chart for approval by
the Corporation which shall also form part of agreement.
10. When a tender is selected for acceptance, the tenderer shall deposit in the
Corporation Office the required amount of the security money in shape of Bank
Guarantee in the prescribed form on any nationalized bank located in the State of
Orissa or Bank Draft in favour of the ‘Orissa Industrial Infrastructure Development
Corporation’ on any nationalized Bank payable at Bhubaneswar. No tender shall be
finally accepted until the required amount of the security money has been deposited.
11. The amount of initial security deposit money to be deposited by the tenderer whose
tender is selected for acceptance shall be 2(two) percent (including EMD already
deposited) of the tendered amount of the work. The security money shall be
deposited by the selected tenderer within such time as may be notified to him in
writing by the Corporation, failing which tender shall be liable for rejection and
Earnest money may be forfeited.
12. In addition to the earnest money deposit (at the time of submission of tender) and
security money (to be deposited by the selected tenderer before drawal of
agreement) a further deduction of 5(Five) percent will be made from each and every
bill of the Contractor towards performance security by the Corporation. The entire
security money so deducted will be refunded to the Contractor after one calendar
year from the date of completion of the work, i.e. after one year of successful testing
& commissioning of the work.
13. Besides, deductions towards Sales Tax (VAT) on works contact, and Income Tax
will be made from each and every bill of the contractor as per statutory orders of the
competent/appropriate authority and credited to the concerned Departments of
State/Central Governments. Necessary certificate towards such deduction will be
furnished by the Corporation to the contractor.
14. Royalties on minor minerals used in the contract work shall be deducted from the
contractors bill at source at rates prescribed as per statutory rules. However, the
amount deducted towards royalty charges can be refunded to the contractor if
clearance certificate from the concerned Departme1nt is produced by the Contractor
establishing payment of the royality.
15. The tenderer has to furnish attested copies copy of valid document showing IDCO
vendor /Valid license, PAN, Experience certificate, Clearance certificate on VAT –
612, EPF Registration Certificate , Service Tax Registration Certificate , proof of
ownership of machineries both in self possession or hire with company profile,