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exceeding Rs.50000/- may be accepted in any of the above forms.
The offer accompanied by B.G. against EMD will only be considered valid on acceptance of the
Bank Guarantee. The offer not accompanied by EMD or specified EMD in proper form as
defined above shall not be considered as valid tender for opening provided necessary stipulations
are made in the NIT.
i) Earnest Money will be refunded only to the unsuccessful Tenderer within 15 days after
finalisation of Tender and no interest will be paid for the same.
ii) The amount of Earnest Money will be refunded to the successful tenderer, after acceptance of
their Security Deposit-cum-Performance B.G. / successful completion of the order.
iii) Small Scale Industries registered with NSIC shall be exempted from the payment of Earnest
Money. Small Scale Industries seeking such exemption must enclose valid registration certificate
from the appropriate Govt. authority giving details such as validity, stores etc., failing which
exemption will not be granted.
7. CONDITIONS FOR FORFEITURE OF EMD :
The EMD may be forfeited
1. In case the purchase order/work order is not executed by the vendor in full.
2. For failure of tenderers to accept the order / LOI / LOA placed within the validity period
of their offer,
3. Any bidder withdraws/varies his offer within the bid validity period before finalisation of
the tender.
4. If the bidder does not accept the arithmetical correction of its bid price.
5. For failure to submit security cum performance BG within 30 days from the last day of the
specified time limit as stipulated in the PO/LOI/LOA.
6. If the acceptance of order is not received within the stipulated period.
7. If the Bidder does not withdraw any deviation listed in Statement of Deviations at the cost
of withdrawal indicated by him,
8. If the Bidder refuse to withdraw, without any cost to the Owner, any deviation not listed
in Statement of Deviations but found elsewhere in the Bid,
9. On providing false or incorrect information in respect of qualifying requirement etc.
10. In case the L1 bidder for any item fails to produce the documents within the specified
period of 10 days in case of domestic tenders and 15 days in case of global tenders, or if
any of the information furnished by L1 bidder on-line is found to be false by the Tender
Committee during verification of documents.
W& P Manual – 2012 Page 150