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View Tender Document - e-Tendering

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21Dy.E.E.1.9 SECURITY DEPOSIT :The successful tenderer shall have to pay half the security deposit in approvedsecurity form (preferably in the form of National Saving Certificate) or in cashor in the form of Bank Guarantee (in the form as prescribed by Government)from any Schedule Bank or Nationalized Bank and balance Security Depositwill be recoverable through the bills at the percentage as shown in item(s) ofthe Memorandum in printed B-1 form or as may be decided by the ExecutiveEngineer during course of execution of the work looking to the position andcircumstances that may prevail, whose orders will be final and binding on thecontractor.The security deposit for the due performance of the contract shall be as detailedin the <strong>Tender</strong> <strong>Document</strong>s elsewhere. Fifty percent of the security deposit willhave to be deposited within ten days (including Government holidays) of theacceptance of the tender and the remaining fifty percent will be recovered fromthe Running Bills at the rate as specified in the tender form, on the cost of workas per C.S.R. prevailing at the time of acceptance of tender. Amount of totalsecurity deposit to be paid shall be 4% ( Four percent) of the cost of work,worked out as per D.S.R. 2012-2013 for the respective District. Initial SecurityDeposit may be in Bank Guarantee form in format on Page 153 to 154 oftender document for full period of completion of work and it should beextendable upto expiry of valid extension if any, as directed by Engineer-incharge.1.10. Condition for payment of additional security deposit, if offer quoted by thetenderer is lesser than 15% below the cost put to tender.The contractor shall deposit an additional security deposit along with thesecurity deposit as per clause 1.9 within 10 days of acceptance of tender in theform 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.Contractor No. of Corrections Executive Engineer

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