Mode of SD. 17.3.1. Security Deposit to be submitted in the form of NEFT / DD/ Pay Order/ Bank Guarantee drawn in favor of Mazagon Dock Shipbuilders Limited from the list of banks approved by SBI/ Canara bank published on MDL website within 25 days from the date of contract. Crossed DD / Pay Order issued by Cooperative banks however will be accepted subject to realization. In case of SD-BG, the same shall be valid for the period of contract plus one month. Bidders to advise their bank/banker to send SD-BG directly to commercial department to dispense with additional step of verification of authenticity of signatories. No change/modification in the text of the prescribed format of the BG is permissible.
Mode of SD. Security Deposit to be submitted in the form of NEFT / DD/ Pay Order/ Bank Guarantee drawn in favor of MAZAGON DOCKSHIPBUILDERS LIMITED from the list of banks approved by SBI/ Canara bank published on MDL website within 25 days from the date of contract. Crossed DD / Pay Order issued by Cooperative banks however will be accepted subject to realization. In case of SD-BG, the same shall be valid for one year from the start date of contract plus three months claim period. Bidders to advise their bank/banker to send SD-BG directly to Outsourcing Department to dispense with additional step of verification of authenticity of signatories. No change/modification in the text of the prescribed format of the BG is permissible.
Mode of SD. 17.6.1. Security Deposit to be submitted in the form of NEFT / DD/ Pay Order/ Bank Guarantee drawn in favor of Mazagon Dock Shipbuilders Limited from the list of banks approved by SBI/ Canara bank published on MDL website within 25 days from the date of contract. Crossed DD / Pay Order issued by Cooperative banks however will be accepted subject to realization. In case of SD-BG, the same shall be valid for the period of contract plus one month. Bidders to advise their bank/banker to send SD-BG directly to commercial department to dispense with additional step of verification of authenticity of signatories. No change/modification in the text of the prescribed format of the BG is permissible. Security Deposit Bank Guarantee Format enclosed at Annexure-O. 17.6.2. SD through NEFT- remittance through Bank: In case of online remittance of SD amount, scanned image of Annexure-K, duly filled is to be submitted to Outsourcing Department. Further, the bidder should specifically mention the details of company name as well as nature of remittance, tender number/order number etc. in the text/narration fields of Bank’s NEFT remittance in order to identify the same. 17.6.3. SD though payment gateway on MDL website – Kindly refer steps given at Annexure-K. 17.7. Any delay in submission of SD shall result into charging of interest by MDL on the Contractor @ PLR of SBI + 2 % on the SD amount for the delayed period. Additionally, in case of failure to submit SD within twenty-five (25) days from the date of order placement, the EMD submitted by the Contractor will be encashed and the Order would be liable for cancellation/termination with the invocation of Risk Purchase provisions of the Tender/Order. 17.8. Additionally, SD amount could be withheld from the payable Invoice (s) of the Contractor, if any. 17.9. In case completion of work is likely to be delayed beyond the Order completion period/Contractual period or this period is required to be extended, the Contractor shall have to extend the validity of the Bank Guarantee for SD till such extended period. In case of failure to comply with such extension of the Bank Guarantee for SD by the Contractor, the Bank Guarantee is liable for encashment by MDL. 17.10. Non-performance of the Terms & conditions of Order and/or default/breach by the Contractor will result in forfeiture of the SD with application of Risk Purchase provisions. 17.11. No interest will be paid on Security Deposit. The security deposit will be returned only a...
Mode of SD. 18.5.1. Security Deposit to be submitted in the form of NEFT / DD/ Pay O rder/ Bank Guarantee drawn in favor of M AZAGON DO CKSHIPBUILDERS LIMITED Driver and Fuel. from the list of banks approved by SBI/ Canara bank published on MDL website within 25 days from the date of contract. Crossed DD / Pay O rder issued by Cooperative banks however will be a cepted subject to realization. In case of SD-BG, the sam e shall be valid for one yxxx from the start date of contract plus three months claim period. Bidders to advise their bank/banker to send SD-BG directly to O utsourcing Department to dispense with additional step of verification of authenticity of signatories. No change/m odification in the text of the prescribed form at of the BG is permissible.
