Common use of Additional Security Deposit Clause in Contracts

Additional Security Deposit. The additional security deposit (ASD) will be applicable when a rebate of more than 12 % with no maximum limit. The ASD is calculated as follows: Additional security deposit = (X/100) x office estimated cost, Where X=percentage rebate quoted above 12% The successful bidder shall submit the applicable A.S.D in the form of Demand Draft to BMC within 15 working days after issue of Letter of Acceptance and same shall be deposited to any CFC center of BMC. If the successful bidder fails to submit the applicable A.S.D. within 15 working days the E.M.D. Paid by the bidder will be forfeited and the company will be debarred for two years, similarly if the director/ partner of said company is also working in other company as a director/ partner of said company is also working in other company as a director/ partner the said company will also be debarred for two years.

Additional Security Deposit. The additional security deposit (ASD) will be applicable when a rebate of more than 12 % with no maximum limit. The ASD is calculated as follows: Additional security deposit = (X/100) x office estimated cost, Where X=percentage rebate quoted above 12% The successful bidder shall submit the applicable A.S.D in the form of Demand Draft to BMC within 15 working days after issue of Letter of Acceptance and same shall be deposited de- posited to any CFC center of BMC. If the successful bidder fails to submit the applicable applica- ble A.S.D. within 15 working days days, the E.M.D. Paid by the bidder will be forfeited and the company will be debarred for two years, similarly . Similarly if the director/ partner of said company is also working in other company as a director/ partner of said company is also working in other company as a director/ partner the said company will also be debarred for two years.

Additional Security Deposit. The additional security deposit (ASD) will be applicable when a rebate of more than 12 % with no maximum limit. The ASD is calculated as followsfolloCITY: Additional security deposit = (X/100) x office estimated cost, Where X=percentage rebate quoted above 12% The successful bidder shall submit the applicable A.S.D in the form of Demand Draft to BMC within 15 working days after issue of Letter of Acceptance and same shall be deposited to any CFC center of BMC. If the successful bidder fails to submit the applicable A.S.D. within 15 working days the E.M.D. Paid by the bidder will be forfeited and the company will be debarred for two years, similarly if the director/ partner of said company is also working in other company as a director/ partner of said company is also working in other company as a director/ partner the said company will also be debarred for two years.