Common use of Local Manufacturers Clause in Contracts

Local Manufacturers. 5% Performance Guarantee of the contract value. (Or) 2% of the contract value to be submitted initially for a period of 3 years with an undertaking to extend for the balance period of the warranty, prior to 3 months of its expiry plus deduction of 5% of the each bill till 3% of the contract value is deducted towards performance guarantee.