Bid Security / Xxxxxxx Money Deposit (EMD). Bidders are required to submit Bid Security / Xxxxxxx Money Deposit (EMD) in favour of MG ASC, HQ Eastern Command a sum equal to 1 (one) % of the contract value for amount of Rs 1,01,000/- (Rupees one lakh one thousand only). The EMD may be submitted in the form of Insurance Surety Bond, Account Payee Demand Draft, Fixed Deposit Receipt, Banker’s Cheque or Bank Guarantee from any of the public sector banks or a private sector bank authorized to conduct government business. EMD is to remain valid for a period of 45 days beyond the final Bid validity period. EMD of the unsuccessful bidders will be returned to them at the earliest after expiry of the final bid validity and latest on or before the 15th day after the award of the contract. The Bid Security of the successful bidder would be returned, without any interest whatsoever, after the receipt of Performance Security from them as called for in the contract. The EMD will be forfeited if the bidder withdraws or amends, impairs or derogates from the tender in any respect within the validity period of their tender. Tenders received without depositing the requisite xxxxxxx money are liable to be rejected.
Bid Security / Xxxxxxx Money Deposit (EMD). As per Gem bid (2% of value of contract).
Bid Security / Xxxxxxx Money Deposit (EMD). Bidders are required to submit Bid Security / Xxxxxxx Money Deposit (EMD) in favour of Brig ASC, HQ 4 Corps a sum equal to Two (2) % of the contract value for amount of ₹ 1,25,940/- (Rupees One Lakh Twenty Five Thousand Nine Hundred Forty Only). The EMD may be submitted in the form of Insurance Surety Bond, Account Payee Demand Draft, Fixed Deposit Receipt, Banker’s Cheque or Bank Guarantee from any of the public sector banks or a private sector bank authorized to conduct government business. EMD is to remain valid for a period of 45 days beyond the final Bid validity period (i.e. valid upto 135 days). EMD of the unsuccessful bidders will be returned to them at the earliest after expiry of the final bid validity and latest on or before the 15th day after the award of the contract. The Bid Security of the successful bidder would be returned, without any interest whatsoever, after the receipt of Performance Security from them as called for in the contract. The EMD will be forfeited if the bidder withdraws or amends, impairs or derogates from the tender in any respect within the validity period of their tender. Tenders received without depositing the requisite xxxxxxx money are liable to be rejected.
Bid Security / Xxxxxxx Money Deposit (EMD). 16.1. The bid shall be accompanied by a bid security amount as specified in BDS.
16.2. The bid security shall be valid for Sixty (60) days from the day of Bid opening.
16.3. Any bid not accompanied by an acceptable Bid Security and not secured shall not be rejected by the Procuring agency. However, if the bidder fails to submit Bid Security within a given timeline, the evaluation team will not proceed for evaluation of that bid and consider non-responsive.
16.4. The Bid Security will be returned as follows.
a) EMDs furnished by all unsuccessful Bidders will be returned on the expiration of the bid validity/finalization of the successful Bidder, whichever is earlier.
b) The EMD of the successful Bidder shall be returned/refunded after furnishing Performance Bank Guarantee as required in this TENDER.
16.5. A Bid not accompanied by bid security of adequate value and validity shall be rejected by the Procuring Agency as non-responsive.
16.6. The bid security shall be forfeited in the following cases:
a. The Bidder withdraws the Bid before opening of the bids.
b. The Bidder withdraws the Bid after opening of the bids but before Notification of Award.
c. The selected Xxxxxx withdraws the bid / proposal before furnishing Performance Guarantee.
d. The Bidder violates any of the provisions of the TENDER up to submission of Performance Bank Guarantee.
e. If a Bidder makes any statement or encloses any form which turns out to be false, incorrect and/or misleading or information submitted by the Bidder turns out to be incorrect and/or conceals or suppresses material information.
f. Failure to accept the order by the Selected Bidder within 15 days from the date of receipt of the Notification of Award / Purchase Order makes the EMD liable for forfeiture at the discretion of RICB. However, RICB reserves its right to consider at its sole discretion the late acceptance of the order by selected Bidder.
g. Failure to submit the Performance Bank Guarantee within the stipulated period makes the EMD liable for forfeiture. In such an instance, RICB at its discretion may cancel the Order placed with the selected bidder without giving any notice.
Bid Security / Xxxxxxx Money Deposit (EMD). 3.7.1 The Bidder should submit EMD through Bank Guarantee/ Demand Draft drawn in favour of "EdCIL (India) Limited” payable at NOIDA from any Nationalized Bank. The Bid sent without EMD would be considered as UNRESPONSIVE and will not be considered. In case EMD is submitted in the form of BG, the BG should be at least valid for 45 days beyond the bid validity date and as per Annexure-II. The bidders are requested to submit EMD in the form of Bank Guarantee/ Demand Draft drawn in favour of EdCIL (India) Limited and payable at Noida, with the Technical Bid.
3.7.2 The successful Bidder’s Xxxxxxx Money Deposit will be returned upon the Bidder executing the Contract Form and furnishing the Performance Security / Security Deposit.
3.7.3 The Xxxxxxx Money Deposit shall be forfeited:
3.7.3.1 If a Bidder withdraws its Bid during the period of bid validity or
3.7.3.2 If the Bidder fails to accept corrections of arithmetic errors identified by the EdCIL in the Bidder’s Bid, if any or
3.7.3.3 In case of a successful Bidder, if the Bidder fails:
3.7.3.3.1 To sign the contract form in accordance with the terms and conditions.
3.7.3.3.2 To furnish performance security/security deposit as specified in this tender.
Bid Security / Xxxxxxx Money Deposit (EMD).
1) Bidder shall furnish, as part of the Bid, EMD (Refundable) for the amount of Rs. 20,00,000/‐ (Rupees Twenty Lakh Only) in the form of Demand Draft OR in the form of an unconditional Bank Guarantee by Bank Guarantee (which should be valid for 6 months from the last date of bid submission) of any Nationalized Bank including the public sector bank or Private Sector Banks or Commercial Banks or Co‐Operative Banks and Rural Banks (operating in India having branch at Ahmedabad/ Gandhinagar) as per the G.R. no. EMD/10/2015/508/DMO dated 27.04.2016 issued by Finance Department or further instruction issued by Finance department time to time; in the name of “Gujarat Informatics Ltd.” payable at Gandhinagar (in the format specified in Annexure IV) and must be submitted along with the covering letter.
