IFSC UBIN0551325. Bids submitted without EMD shall be rejected as non-responsive.
IFSC UBIN0551325. A part of xxxxxxx money is acceptable in the form of bank guarantee also. In such cases, 50% of xxxxxxx money or Rs. 20 lakh whichever is less, will have to be deposited through RTGS and balance may be deposited in shape of Bank Guarantee of any scheduled bank having Validity for six months or more from the last date of receipt of bids
IFSC UBIN0551325. 6.1.2 A part of EMD is acceptable in the form of bank guarantee also. In such case, 50% of xxxxxxx money or Rs. 20 Lakhs, whichever is less, will have to be deposited through RTGS and balance can be deposited in the shape of Bank Guarantee of any scheduled bank in India having validity for six months or more from the last date of receipt of bids.
6.1.3 Bids submitted without EMD shall be rejected as non-responsive.
6.1.4 No interest shall be payable by the Employer for the sum deposited as xxxxxxx money deposit.
6.1.5 The EMD of the unsuccessful bidders would be returned within one month of signing of the contract with the successful bidder.
6.1.6 The Xxxxxxx Money of the successful Bidder submitted in the form of RTGS will be retained as Security Deposit and that given in the form of Bank Guarantee will be discharged when the Bidder has signed the Agreement and furnished the required Performance Security.
6.1.7 Part of EMD acceptable in the form of bank Guarantee shall be deposited as per attached Bank Guarantee format (Annexure VI).
6.1.8 The EMD shall be forfeited by the Employer in the following events:
(i) If Bid is withdrawn during the validity period or any extension agreed by the Bidder thereof.
(ii) If the Bid is varied or modified in a manner not acceptable to the Employer after opening of Proposal during the validity period or any extension thereof.
(iii) If the Bidder tries to influence the evaluation process.
(iv) If the Bidder withdraws his proposal during negotiations.
(v) In case the Bidder, submits false certificate in terms of any documents supported to such Tender.
(vi) If the Bidder fails to sign the contract in accordance with Conditions of Contract on receipt of award of work
(vii) In case of a Bidder revoking or withdrawing his Tender or varying any terms in regard thereof without the consent of the Employer in writing.
(viii) In case the bidder is found to indulge in corrupt or fraudulent practices at any stage of the execution of the contract, as described in Clause 16.5 of GCC.
(ix) In case the bidder fails to furnish the prescribed performance guarantee within the prescribed period as mentioned in clause 4.4.1 of GCC
(x) In case of forfeiture of xxxxxxx money, as prescribed in vii and ix above, the tenderer shall not be allowed to participate in the retendering process of the work.
IFSC UBIN0551325. A part of EMD is acceptable in the form of bank guarantee also. In such case, 50% of xxxxxxx money or Rs. 20 Lakhs, whichever is less, will have to be deposited through RTGS and balance can be deposited in the shape of Bank Guarantee of any scheduled bank in India having validity for six months or more from the last date of receipt of bids.
