FORFEITURE OF EMD. Bank reserves the rights to cancel the order and forfeit the EMD if,
a. Security Deposit is not submitted within the stipulated time;
b. Agreement is not entered within stipulated time;
c. If the tenderer revokes his tender during the period he is required to keep his tender open for acceptance by the Employer or
d. The tender is accepted by the Employer but the contractor fails to enter into a formal agreement or
e. Fails to commence the work within the stipulated time.
f. If a Bidder makes any statement or encloses any form which turns out to be false / incorrect at any time prior to signing of contract
FORFEITURE OF EMD i. When party fails to commence the supply of the liquid helium & standards as per the supply order within the time prescribed.
ii. When party does not execute the agreement, if any prescribed within the specific time.
FORFEITURE OF EMD. (बयाना जमा क� जबती)
a) The bidder withdraws the bid after opening of Price Bid during the period of validity of offer.
b) The bidder does not accept the correction of error in bid price as indicated in Clause 37 hereinafter.
c) The successful bidder fails within the specifies time limit to:
i) Acknowledge the LOA/Order
ii) Furnish the required Security Deposit
iii) Non-performance of the contract by the Contractor
FORFEITURE OF EMD a) If the bidder does not submit the offline tender document without valid reasons after submission of bid on e-tender portal, the EMD so deposited shall not be refunded at all. Further, in case of encountering any technical problems while uploading the bid documents, the bidder should immediately intimate or report to the Bid inviting Executive Engineer (E) for redressal.
b) If any tenderer withdraws his tender before the expiry of the validity period or before the issue of letter of acceptance whichever is earlier or makes any modifications in the terms and conditions of the tender which are not acceptable to the department, then the BSNL shall without prejudice to any other right or remedy, be at liberty to forfeit 50% of xxxxxxx money absolutely.
c) If contractor fails to furnish the prescribed performance guaranty within the prescribed period the amount of EMD will be forfeited without any notice.
d) If only a part of work as shown in the tender is awarded and the contractor does not commence the work, the amount of EMD with reference to estimated amount will be forfeited.
e) In case of forfeiture of EMD as prescribed in a to d above, the tenderer shall not be allowed to participate in the retendering process of the work.
FORFEITURE OF EMD. The xxxxxxx money deposited (EMD) will be forfeited if the tender withdraw or amends, impairs and derogates from the tender in any respect within thje period of validity of tender or fails to furnish the Proformance Security Deposit.
FORFEITURE OF EMD. EMD by the Tenderer may be forfeited as per NIT conditions, if:
i) After opening the tender and within the offer validity period, the tenderer revokes his tender or makes any modification in his tender which is not acceptable to BHEL.
ii) The Contractor fails to enter into agreement within fifteen days from the date of award of contract or within extended time if allowed by BHEL.
iii) The Contractor fails to deposit the required Security deposit or fails to commence the work within 20 days from award of contract.
iv) In case it comes to notice of BHEL at any stage during tendering process / contract period that any of the transporter, has given false / suppressed / forged / fake information. If tender process is delayed/disrupted due to an act of bidder/deviations from BHEL terms & conditions etc.
FORFEITURE OF EMD. The EMD may be forfeited, if:
i. The bidder withdraws the bid after opening during the period of validity.
ii. The bidder does not accept the correction of error in bid price.
iii. The successful bidder fails within the specified time limit to acknowledge the LOA/Order.
iv. The bidder fails to furnish the required Security Deposit.
v. Non-performance of the contract by the Contractor.
vi. If any registered vendor with Fixed EMD withdraws its bid prior to finalisation of the order and during the period of bid validity, the Fixed EMD as deposited by the vendor shall be liable to be forfeited.
FORFEITURE OF EMD. Xxxxxxx Money if applicable shall be forfeited in the following circumstances: a) In case the bidder tampers the tender document, alters / modifies / withdraws the bid suo-moto after opening the bids (Technical bids in case of two bid system) within the validity period.
FORFEITURE OF EMD. Xxxxxxx Money if applicable shall be forfeited in the following circumstances:
(i) In case the bidder tampers the tender document, alters / modifies / withdraws the bid suo- moto after opening the bids (Technical bids in case of two bid system) within the validity period.
(ii) In case the bidder submits false/fraudulent/fake/ forged documents.
(iii) In case the tender is accepted, and the contractor fails to deposit the ISD/SD or to execute the contract.
(iv) In case of failure of the bidder to get the documents verified as per the specified time schedule in the tender. (Where verification is done through the Original Document Verification process) In (i) and (ii) above the tender submitted by the bidder shall be rejected. In all the above cases suitable action may be taken which may include EMD forfeiture and / or holiday listing action as per the discretion of IOCL. Xxxxxxx Money Deposit forfeited for all such bids shall not be by way of penalty or liquidated damages but by way of reimbursement of the pre- estimated costs likely to be incurred by the OWNER towards bidding process and in the scrutiny and evaluation of bids.
FORFEITURE OF EMD. (i) The Xxxxxxx Money Deposit (EMD) will be forfeited, if the Tenderer withdraws or amends, impairs or derogates from the tender in any respect within the period of validity of his tender.
(ii) The Xxxxxxx Money Deposit (EMD) will be forfeited, in case of the lowest/ matched bidder, fails to execute the contract agreement and / or deposit the Security Deposit within the stipulated time.
(iii) In both the above cases, the bidder will not be eligible to participate in the tender for same item for one year from the date of issue of letter of acceptance (LOA). The bidder will not approach the court against the decision of the CMSS in this regard.
