Download NIT - Chittaranjan Locomotive Works - Indian Railway

Page 11 of 35PART – IICONDITION OF TENDER2.1 Manner of Deposit of Earnest money:The total sum of earnest money as indicated in “Instruction to tenderers” constitutes the earnest money for thetender. The deposit of earnest money may be made in cash or in any of the following forms;i) Deposit Receipt, Pay Order, Demand Draft, banker’s cheque of STATE BANK OF INDIA including nationalbank.ii)The bank concerned lodges with the Reserve Bank of India requisite securities namely cash deposits of Govt.securities in respect of the guarantees executed by it and Reserve Bank of India advice the Railway that thebond may be accepted.iii) Govt. securities (Stock certificate, Bearer Bonds, promissory notes, cash certificate) will not be accepted.Pursuant to Rly. Bd.’s letter No. 88/CE-1/CT/1(Vol.II) dated 6.8.96 Standing Earnest Money/Earnest Money inthe form of Guarantee Bonds; Government Securities (Stock Certificates, Bearers Bonds, Promissory notes,Cash Certificates) will not be accepted. In case the tenderer withdraw his offer within validity date of his offeror failure to undertake the contract after acceptance of his tender the full amount of Earnest Money depositedwill be forfeited.2.2 Authority in whose favour the deposit of earnest money, security deposit and Performance guaranteeshall be made.a) “Deposit receipt” /”Pay order”/”Demand Draft”/Banker’s Cheque” towards deposit of earnest money for thetender should be drawn in favour of the FINANCIAL ADVISER & CHIEFACCOUNT OFFICER,CHITTARANJAN LOCOMOTIVE WORKS, CHITTARANJAN.b) Deposit of earnest money in cash should be made to the Asstt. Chief Cashier, CLW at Chittaranjan but beforemaking the deposit, an authority slip should be obtained from the Office of ElectricalEngineer/CLW/CHITTARANAJN. It should be clearly noted that without the authority slip the deposit ofearnest money in cash shall not be accepted by the Asstt. Chief Cashier.(c)The performance guarantee in the form of irrevocable bank guarantees amounting to 5% of the contract value.The performance guarantee should be furnished by the successful contractor after the letter of acceptance hasbeen issued, but before signing of the agreement and should be valid up to expiry of the maintenance period of12 months + a claim period of further 6/12 months as applicable and details mentioned in clause 4.10 of Part-IV.The total amount of earnest money notified in the tender shall constitute as the initial security depositfor keeping the offer open for the period specified in the “tender”. It shall be understood that the tenderdocuments have been issued to tender and tender and tender has been permitted to tender for the works/supplyin consideration of the stipulation on his part that after submitting his tender the tender will not be resilient fromhis offer of modify the terms and conditions thereof in a manner not acceptable to the Railway. Should thetenderer failed to observe or comply with the foregoing stipulation, the initial security deposit mentioned hereinabove shall be forfeited to the railway.(d)(e)If the tenderer whose tender has been accepted does not execute the contract agreement within 15 days(fifteen)after receipt of notice issued by the Railway that the contract has been awarded to him OR does not commencethe work after receipt of order to that effect, the full value of the earnest money with the tender shall withoutprejudice to any rights, remedies available, be forfeited to the Railway.The contractor should collect the proforma of security deposit for the purpose from the office of Engineer forcorrect execution and submission.Signature of the Tenderer with seal & date Page 11