B-1 AGREEMENT System Generated e-Tender No ... - e-Tendering

18 Dy. Executive Engineer
1.8 EARNEST MONEY :
As shown on page No. 9 Earnest Money should be paid in the State Bank of
Hyderabad/State Bank of India or Reserve Bank of India or any Government Treasury
under the Head “ 8443 – Revenue Deposit ” and the receipted challan should be submitted
as per the tender schedule. Earnest money in the form of cheque or cash will not be
accepted.
Earnest money will be accepted in the form of certificate of exemption from payment of
Earnest Money, or Term Deposit receipts valid for a period of one year (separately for each
work) from the last date of submission of tender forms, issued by scheduled Bank or
Nationalised Bank and endorsed in the name of the Executive Engineer, Public
Works Division, Jawhar. Scanned copy of the above document (as the case may be) shall
be uploaded in envelope No. 1 online.
The earnest money will be refunded in due course in case of tenderers whose
tenders are not accepted. In case of successful tenderer the Earnest money will
be refunded after recovering initial security deposit and completion of contract documents
by the Tenderer. The amount of Earnest Money will be forfeited to Government in case
the successful contractor does not pay the amount of initial security deposit within
specified time limit. Earnest Money Exemption Certificate shall not be accepted in lieu of
Earnest Money indicated elsewhere in the N.I.T. except in case of those bidders
who have obtained Earnest Money exemption certificate after payment of Rs. 3.50 Lakhs
to their Registration authorities after issuance of Government Resolution CAT -
1096/CR - 172/Bldg-2 Dated 20/4/98.
1.9 SECURITY DEPOSIT:
The successful tenderer shall have to pay half the security deposit in approved security form
(preferably in the form of National Saving Certificate) or in cash or in the form of Bank
Guarantee (in the form as prescribed by Government) from any Schedule Bank and balance
Security Deposit will be recoverable through the bills at the percentage as shown in item(s) of
the Memorandum in printed B-1 form or as may be decided by the Executive Engineer during
course of execution of the work looking to the position and circumstances that may prevail,
whose orders will be final and binding on the contractor.
The security deposit for the due performance of the contract shall be as detailed in the Tender
Documents elsewhere. Fifty percent of the security deposit will have to be deposited within
ten days (including Government holidays) of the acceptance of the tender and the remaining
fifty percent will be recovered from the Running Bills at the rate as specified in the tender
form, on the cost of work as per C.S.R. prevailing at the time of acceptance of tender. Amount
of total security deposit to be paid shall be 4 % of the cost of work, worked out as per D.S.R.
2012-2013 for the respective District. Initial Security Deposit may be in Bank Guarantee form
in format on Page No. 114 of tender document for full period of completion of work and it
should be extendable upto expiry of valid extension if any, as directed by Engineer-in-charge.
1.9.A. Condition for payment of additional security deposit, if offer quoted by the tenderer is
lesser than 15% below the cost put to tender.
The contractor shall deposit an additional security deposit along with the security deposit as
per clause 1.9 within 10 days of acceptance of tender in the form of Bank guarantee, when
the below percentage quoted is more than 15% of cost put to tender.
The amount of security deposit shall be worked out as per following formula.
Cost put to tender
Additional Security Deposit = Rs.[% rate quoted by the contractor - 15] x 50 x (i.e. Rs. 3,32,35,753/-)
100 100
If the contractor does not deposit this additional security deposit (if applicable) within
stipulated time then his earnest money deposit will be forfeited and his tender will not be
considered for acceptance.
This additional security deposit shall be extendable upto expiry of valid extensions if any and
it shall be refunded along with the final bill, after satisfactory completion of work.
Signature of Contractor No. Of Corrections Executive Engineer