Fixed Deposit Receipt (FDR Sample Clauses

Fixed Deposit Receipt (FDR issued by schedule banks/ Public Financial Institutions as defined in the Companies Act (FDR should be in the name of the Contractor, a/c BHEL and affix one rupee (Rs.1/-) revenue stamp & sign on back side of FDR).
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Fixed Deposit Receipt (FDR of a Scheduled Commercial bank / Post offices based in India duly pledged/lien in favour of Jaipur Metro Rail Corporation Ltd. This FDR shall be in the name of the contractor and JMRC and the contractor cannot encash/pre- mature this FDR without the discharge letter/NOC/approval of JMRC. Also, JMRC can encash this FDR without the approval of the contractor in case of non-compliance of terms of the contract. The confirmation of the same will invariably be sent by the issuing bank directly to JMRC as per the format of Annexure-7B. In case of joint venture/consortium, the Performance Security is to be submitted in the name of the JV / Consortium. However, splitting of the performance security (while ensuring the security is in the name of JV / Consortium) and its submission by different members of the JV / Consortium for an amount proportionate to their scope of work is also acceptable. F 5.1.1 Performance Security (As per Rule 75 of RTPPR, 2013)
Sample 1
Fixed Deposit Receipt (FDR of a scheduled bank. It shall be in the name of procuring entity on account of bidder and discharged by the bidder in advance. The procuring entity shall ensure before accepting the FDR that the bidder furnishes an undertaking from the bank to make payment/ premature payment of the FDR on demand to the procuring entity without requirement of consent of the bidder concerned. In the event of forfeiture of the performance security, the Fixed Deposit shall be forfeited along with interest earned on such Fixed Deposit.
Sample 1

Related to Fixed Deposit Receipt (FDR

  • Custodial Account Funds in any custodial accounts established by the Servicer and maintained in respect of the REMIC may be invested and, if invested, shall be invested in Eligible Investments selected by the Servicer which shall mature not later than the Business Day immediately preceding the next Remittance Date, and any such Eligible Investment shall not be sold or disposed of prior to its maturity. All such Eligible Investments shall be made in the name of the REMIC or its nominee. All income and gain realized from any such investment shall be, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, for the benefit of the Servicer as additional compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the relevant account by the Servicer out of its own funds immediately as realized. The foregoing requirements for deposit in such account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments of interest on funds in such account and, as long as the Servicer is servicing the Mortgage Loans held by the REMIC, payments in the nature of prepayment fees, late payment charges, assumption fees or any similar fees customarily associated with the servicing mortgage loans paid by any mortgagor need not be deposited by the Servicer in such account and may be retained by the Servicer as additional servicing compensation. If the Servicer deposits in such account any amount not required to be deposited therein, it may at any time withdraw such amount, any provision herein to the contrary notwithstanding.

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