Common use of Bid Security Clause in Contracts

Bid Security. 16.1 Pursuant to Clause-l2, the bidder shall furnish, as part of his bid, bid security in the amount specified in Request of Quotation (RFQ). 16.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months beyond the validity of the Bid. 16.4 Any bid not secured in accordance with Clause-16.1 and 16.3 may be rejected by BCPL as non-responsive. 16.5 Unsuccessful bidder's bid security will be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPL. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Security pursuant to Clause-40. 16.7 The bid security may be forfeited: a) If a bidder withdraws his bid during the period of bid validity. b) in the case of a successful bidder, if the bidder fails: i) to accept the Notification of Award/Fax of lntent (FOI) or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 7.1 The Bidder shall furnish, as part of his bidBid, a Bid security of Rs 20,000 for this particular work. This bid security shall be in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the amount specified following forms: - a bank guarantee issued by a nationalized / scheduled bank located in Request India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft in favour of Quotation (RFQ)Society of Integrated Coastal Management, payable at New Delhi. 16.2 The 7.2 Bank guarantees issued as surety for the bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 7.3 Any bid not accompanied by an acceptable Bid Security and not secured in accordance with Clause-16.1 and 16.3 may as above shall be rejected by BCPL the Purchaser as non-responsive. 16.5 Unsuccessful bidder's bid security 7.4 The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod. 16.6 7.5 The Bid Security of the successful bidder's bid security bidder will be discharged upon when the bidder's accepting bidder has signed the award & signing Agreement and furnished the Agreement, pursuant to Clause-39 and furnishing the Contract required Performance Security pursuant to Clause-40of 5% of the contract amount. 16.7 7.6 The bid security Bid Security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful bidderBidder, if the bidder fails: Bidder fails within the specified time limit to (i) to accept sign the Notification of Award/Fax of lntent (FOI) Agreement; or (ii) to furnish Contract the required Performance Security in accordance with Clause-40Security. iii) 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to accept arithmetical correctionsthis Quotation. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 12.1 The Bidder shall furnish, as part Bid Security an amount as mentioned in clause 1.1.2 of his bidNIB and also refer The Rajasthan Transparency in Public Procurement Rules, bid security in the amount specified in Request of Quotation (RFQ)2013, clause 42. 16.2 12.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid deposited through Bankers cheque/DD of nationalized Bank in the name of Jaipur metro rail corporation, Jaipur. The Bidder needs to upload scanned copy of DD/Bankers cheque at website xxxx://xxxxx.xxxxxxxxx.xxx.xx for two months beyond the validity of the Bide-Biding. 16.4 12.3 Any bid Bid not secured in accordance with Clause-16.1 and 16.3 may accompanied by an acceptable Bid Security shall be summarily rejected by BCPL as being non-responsive. 16.5 Unsuccessful bidder's bid security will 12.4 The Bid securities of unsuccessful Bidder shall be discharged/returned by the Employer as promptly as possible, possible as but not later than 30 days after the expiration of the period of bid Bid validity prescribed by BCPLas defined in Clause 11.1 of ITB. In this connection, Clause 25.3 of ITB may also be referred to. 16.6 12.5 The Bid Security of the successful bidder's bid security will Bidder shall be discharged returned upon the bidder's accepting Bidder executing the award & signing the Agreement, pursuant to Clause-39 Contract Agreement and after furnishing the Contract Performance Security pursuant to Clause-40required performance guarantee for performance, as mentioned in Clause 27.0 of ITB. 16.7 12.6 The bid security may Bid Security shall be forfeited: a) a. If a bidder Xxxxxx withdraws his bid Bid during the period of bid Bid validity., or b) b. If the Bidder does not accept the correction of his Bid price in the terms of Clause 22.0 of ITB or c. In case of a successful bidderBidder, if the bidder failshe fails to: i) to accept i. Furnish the Notification necessary performance guarantee for performance as per Clause 27.0 of Award/Fax of lntent (FOI) orITB. ii) to furnish Contract Performance Security in accordance with Clause-40.. Commence the work as per terms & conditions of Bid after issuance of LOA iii) to accept arithmetical corrections.. Enter into the Contract within the time limit specified in Clause 26.0 of ITB 16.8 The Bid security shall 12.7 No interest will be submitted in payable by the form of crossed Bank Demand Draft drawn Employer on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case the Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later dateamount cited above.

Bid Security. 16.1 Pursuant to Clause-l2, the 14.1 The bidder shall furnish, as part of his bid, bid security in the amount specified in Request of Quotation the Invitation for Bids (RFQIFB). 16.2 14.2 The bid security is required to protect BCPL GAIL against the risk of bidder's conduct ’s conduct, which would warrant the security's ’s forfeiture, pursuant to Clause- 16.7. 16.3 BCPL 14.3 GAIL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of CreditGuarantee, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Nationalised Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two 2 months beyond the validity of the Bid. 16.4 14.4 Any bid not secured in accordance with Clause-16.1 and 16.3 tender conditions may be rejected by BCPL GAIL as non-non- responsive. 16.5 14.5 Unsuccessful bidder's ’s bid security will be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPLGAIL, pursuant to ITB Clause-15. 16.6 14.6 The successful bidder's ’s bid security will be discharged upon the bidder's ’s accepting the award & signing the Agreement, pursuant to Clause-39 Agreement and furnishing the Contract Performance Security pursuant to Clause-40Security. 16.7 14.7 The bid security may be forfeited: a) If a bidder withdraws his bid during the period of bid validity. b) in the case of a successful bidder, if the bidder fails: i) to accept the Notification of Award/Award / Fax of lntent Intent (FOI) / Letter of Intent (LOI), or ii) to furnish Contract Performance Security / Security Deposit in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The 14.8 Bid security shall Security should be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at DibrugarhXXXX (India) Limited and addressed to GAIL. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date. The Bid Security shall be in the form provided at F-4 (Bank Guarantee) .

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 16.1. The Bidder shall furnish, as part of his bidBid, bid a Bid security in the amount specified as shown in Request column 5 of Quotation (RFQ)the table of IFB for this particular work. This bid security shall be in favour of Employer as named in Appendix and may be in one of the following forms: a. Receipt in challan of cash deposit in the Govt. Treasury in India. 16.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be b. Deposit-at-call Receipt from any scheduled Indian scheduled bank Bank or a branch of an International bank situated foreign Bank located in India and registered with approved by the Reserve bank Bank of India as scheduled foreign bank India. c. Indian Post Office / National Savings Certificate duly endorsed by the competent postal authority in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of India. d. Bank Guarantee from banks other than the Nationalized any scheduled Indian banksbank, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the format given in Volume- III. e. Fixed Deposit Receipt, a certified cheque or an irrevocable letter of credit, issued by any Scheduled Indian Bank Guarantee itself or separately on its letterheada foreign Bank approved by the Reserve Bank of India. 16.2. Bid Security Bank guarantees (and other instruments having fixed validity) issued as surety for the bid shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 16.3. Any bid not accompanied by an acceptable Bid Security and not secured as indicated in accordance with Clause-16.1 Sub-Clauses 16.1 and 16.3 may 16.2 above shall be rejected by BCPL the Employer as non-responsive. 16.5 Unsuccessful bidder's bid security 16.4. The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod specified in Sub-Clause 15. 16.6 16.5. The Bid Security of the successful bidder's bid security bidder will be discharged upon when the bidder's accepting bidder has signed the award & signing Agreement and furnished the Agreement, pursuant to Clause-39 and furnishing the Contract required Performance Security pursuant to Clause-40Security. 16.7 16.6. The bid security Bid Security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) If the Bidder does not accept the correction of the Bid Price, pursuant to Clause 27; or (c) in the case of a successful bidderBidder, if the bidder fails:Bidder fails within the specified time limit to (i) to accept Sign the Notification of Award/Fax of lntent (FOI) Agreement; or (ii) to furnish Contract the required Performance Security in accordance with Clause-40Security. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 7.1 The Bidder shall furnish, as part of his bidBid, a Bid security of Rs 24,000 for this particular work. This bid security shall be in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the amount specified following forms: - a bank guarantee issued by a nationalized / scheduled bank located in Request India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft in favour of Quotation (RFQ)Society of Integrated Coastal Management, payable at New Delhi. 16.2 The 7.2 Bank guarantees issued as surety for the bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 7.3 Any bid not accompanied by an acceptable Bid Security and not secured in accordance with Clause-16.1 and 16.3 may as above shall be rejected by BCPL the Purchaser as non-responsive. 16.5 Unsuccessful bidder's bid security 7.4 The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod. 16.6 7.5 The Bid Security of the successful bidder's bid security bidder will be discharged upon when the bidder's accepting bidder has signed the award & signing Agreement and furnished the Agreement, pursuant to Clause-39 and furnishing the Contract required Performance Security pursuant to Clause-40of 5% of the contract amount. 16.7 7.6 The bid security Bid Security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful bidderBidder, if the bidder fails: Bidder fails within the specified time limit to (i) to accept sign the Notification of Award/Fax of lntent (FOI) Agreement; or (ii) to furnish Contract the required Performance Security in accordance with Clause-40Security. iii) 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to accept arithmetical correctionsthis Quotation. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder The Bidder shall furnish, as part of his bidBid, bid a Bid security in the amount specified as shown in Request column 4 of Quotation (RFQ)the table of IFB for this particular work. This bid security shall be in favour of The Executive Engineer, Tamil Nadu State Agricultural Marketing Board, Guindy, Chennai-600 032 and may be in one of the following forms: - a bank guarantee issued by a nationalized / scheduled bank located in India or a reputable bank located abroad in the form given in Section 8; or - Certified cheque, Bank draft or Letter of Credit in favour of .. The Executive Engineer, Tamil Nadu State Agricultural Marketing Board, Guindy, Chennai-600 032 payable at Madurai. 16.2 The Bank guarantees issued as surety for the bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 16.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in accordance with Clause-16.1 Sub-Clauses 16.1 and 16.3 may 16.2 above shall be rejected by BCPL the Employer as non-responsive. 16.5 Unsuccessful bidder's bid security 16.4 The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod specified in Sub-Clause 15.1. 16.5 The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Bid Security pursuant to Clause-40. 16.7 The bid security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) if the Bidder does not accept the correction of the Bid Price, pursuant to Clause 27; or (c) in the case of a successful bidderBidder, if the bidder fails:Bidder fails within the specified time limit to (i) to accept sign the Notification of Award/Fax of lntent (FOI) Agreement; or (ii) to furnish Contract the required Performance Security in accordance with Clause-40Security. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder shall furnish, as part of his bid, bid security in the amount specified in Request of Quotation (RFQ). 16.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months beyond the validity of the Bid. 16.4 Any bid not secured in accordance with Clause-16.1 and 16.3 may be rejected by BCPL as non-non- responsive. 16.5 Unsuccessful bidder's bid security will be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPL. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Security pursuant to Clause-40. 16.7 The bid security may be forfeited: a) If a bidder withdraws his bid during the period of bid validity. b) in the case of a successful bidder, if the bidder fails: i) to accept the Notification of Award/Fax of lntent (FOI) or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 12.1 The Bidder shall furnish, as part of his bidBid, a Bid security of INR 25,000/- (Rupees Twenty Five Thousand only) for this particular work. This bid security shall be in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the amount specified following forms: - a bank guarantee issued by a nationalized / scheduled bank located in Request India, The Bank Guarantee format shall be as per Attachment or - Bank Draft or Letter of Quotation (RFQ)Credit in favour of Society of Integrated Coastal Management, payable at New Delhi. Cheques will not be accepted. 16.2 The 12.2 Bank guarantees issued as surety for the bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 12.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in accordance with Clause-16.1 Sub- Clauses 12.1 and 16.3 may 12.2 above shall be rejected by BCPL the Purchaser as non-responsive. 16.5 Unsuccessful bidder's bid security 12.4 The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod. 16.6 12.5 The Bid Security of the successful bidder's bid security bidder will be discharged upon when the bidder's accepting bidder has signed the award & signing Agreement and furnished the Agreement, pursuant to Clause-39 and furnishing the Contract required Performance Security pursuant to Clause-40Security. 16.7 12.6 The bid security Bid Security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful bidderBidder, if the bidder fails:Bidder fails within the specified time limit to (i) to accept sign the Notification of Award/Fax of lntent (FOI) Agreement; or (ii) to furnish Contract the required Performance Security in accordance with Clause-40Security. iii) 12.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to accept arithmetical correctionsthis Quotation. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder The Bidder shall furnish, as part of his bidBid, bid a Bid security in the amount specified as shown in Request column 4 of Quotation (RFQ). 16.2 The the table of IFB for this particular work. This bid security is required to protect BCPL against shall be in favour of Executive Engineer, Xxxxx Xxxxx Xxxxxx Xxxxxxxxxx, Bhopal and may be in one of the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any following forms: - A Bank guarantee issued by a nationalized / scheduled bank charges, commission located in India or interest on the amount of Bid Security. In case Bid Security is a reputable bank located abroad in the form of a given in Section 8; or - Certified cheque, Bank Guarantee draft or irrevocable Letter of CreditCredit in favour of Executive Engineer, Xxxxx Xxxxx Xxxxxx Xxxxxxxxxx, Bhopal payable at Bhopal 16.2 Bank guarantees issued as surety for the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security bid shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 16.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in accordance with Clause-16.1 Sub- Clauses 16.1 and 16.3 may 16.2 above shall be rejected by BCPL the Employer as non-responsive. 16.5 Unsuccessful bidder's bid security 16.4 The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod specified in Sub-Clause 15.1. 16.5 The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Bid Security pursuant to Clause-40. 16.7 The bid security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) if the Bidder does not accept the correction of the Bid Price, pursuant to Clause 27; or (c) in the case of a successful bidderBidder, if the bidder fails: Bidder fails within the specified time limit to (i) to accept sign the Notification of Award/Fax of lntent (FOI) Agreement; or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.