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17. Bid Security 17.1 The Bidder shall furnish, as part of his Bid, a Bid security in the amount as shown in column
4 of the table of IFB for this particular work. This bid security shall be in favour of the
Commissioner Vizianagaram Municipality, Vizianagaram, Andhrapradesh. and may be in one of
the following forms:
- a bank guarantee issued by a nationalized / scheduled bank located in India or a
reputable bank located abroad in the form given in Section X; or
- Certified cheque, Bank Draft or Letter of Credit in favour of the Commissioner
Vizianagaram Municipality, Vizianagaram, Andhrapradesh.
- If the institution issuing the guarantee is located outside India, it shall be counter
signed by a Nationalised/Scheduled bank located in India, to make it enforceable.
17.2 Bank guarantee issued as Bid security for the bid shall be valid for 45 days beyond
the validity of the bid.
17.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in
Sub-Clause 17.1 and 17.2 above shall be rejected by the Employer as non-responsive.
17.4 The Bid security of unsuccessful bidders will be returned within28 days of the end of the
bid validity period specified in Sub-Clause 16.1.
The Bid Security of successful bidders will be discharged and returned when the bidder
has signed the Agreement and furnished the required Performance Security.
17.5 The Bid Security may be forfeited:
(a)
(b)
(c)
if a Bidder withdraws/modifies/substitutes its bid during the period of bid validity
specified by the Bidder on the Bid Submission Sheet, except as provided in ITB Sub-
Clause 16.2; or
if the Bidder does not accept the correction of its Bid Price pursuant to ITB Sub-
Clause 28.
if the successful Bidder fails within the specified time to:
(i)
sign the Contract Agreement; or
(ii) furnish the required performance security .
18. Alternative
Proposals by
Bidders
19. Bidding
Through E-
18.1 Bidders shall submit offers that comply with the requirements of the bidding
documents, including the basic technical design as indicated in the drawing and
specifications. Alternatives will not be considered.
19.1. The bidding under this contract is electronic bid submission through website
http://eprocure.gov.in Detailed guidelines for viewing bids and submission of online