west bengal state council of vocational education & training - wbscvet

6. SECURITY DEPOSIT & AGREEMENT1. Firm whose offer is accepted will have to deposit a Security Deposit equal to 5% (Five Present) ofthe total value in favour of Assistant Secretary and D.D.O., Technical Education & TrainingDepartment , payable at Kolkata. in the form of Bank Draft/ Banker Cheque/Bank Guarantee fromany nationalized bank.2. Successful tenderer will have to execute a service level agreement on a Non Judicial Stamp Paperof Rs. 100/- in the prescribed form with the Department and deposit security money within 10 daysfrom the date of receiving of work order.3. The security deposit shall be released within three months after completion of the contract asper order of after the expiry of contract on satisfactory completion of the same after the expiry ofthe period of contract whichever is later and after production of no dues certificate in favour of thetenderer by the Department.4. No interest will be paid on security deposit/ earnest money deposit.5. In case of breach of any terms and conditions of the contract or on unsatisfactory performance,the amount of security deposit shall be liable to be forfeited by the department and department’sdecision will be final.6. The expenses of completing and stamping the agreement shall be paid by the tenderer and thetenderer will furnish free of charge on executed stamped copy of the agreement to the department.Page 10 of 15