Performance Security Deposit a) Prior to execution of agreement, Performance security shall be solicited from all successful bidders except the departments of the State Government and undertakings, corporations, autonomous bodies, registered societies, co-operative societies which are owned or controlled or managed by the State Government and undertakings of the Central Government. However, a performance security declaration shall be taken from them. The State Government may relax the provision of performance security in particular procurement or any class of procurement.
b) The amount of performance security shall be 5%, or as may be specified in the bidding document, of the amount of supply order in case of procurement of goods and services. In case of Small Scale Industries (SSI) of Rajasthan, it shall be 1% of the amount of quantity ordered for supply of goods and in case of sick industries, other than SSI, whose cases are pending before the Board of Industrial and Financial Reconstruction (BIFR), it shall be 2% of the amount of supply order.
c) The bidder is required to submit. 2% of total bid value as the performance security against the bid within 15 days of issue of Letter of Intent (LoI) and thereafter, the bidder shall be responsible for submitting additional performance security of 3% of the amount of respective Work Order/s issued during the rate contract period.
d) Performance security shall be furnished in any one of the following forms: -
a. Bank Draft or Banker’s Cheque of a scheduled bank;
b. National Savings Certificates and any other script/ instrument under National
c. Savings Schemes for promotion of small savings issued by a Post Office in Rajasthan, if the same can be pledged under the relevant rules. They shall be accepted at their surrender value at the time of bid and formally transferred in the name of procuring entity with the approval of Head Post Master;
d. Bank guarantee/s of a scheduled bank, in case the amount of PSD is more than 10 lakhs. It shall be got verified from the issuing bank. Other conditions regarding bank guarantee shall be same as mentioned in the bidding document for bid security;
Performance Security Deposit. (i) the Company shall deliver to BPDB the Performance Security Deposit before signing of PPA.
(ii) The Performance Security Deposit shall terminate upon the delivery to BPDB of the Operations Security Deposit pursuant to Section 7.2(c) and any undrawn portion of the Performance Security Deposit shall be released and returned to the Company by no later than ten (10) Business Days following the delivery to BPDB of the Operations Security Deposit pursuant to Section 7.2(c).
(iii) The Performance Security Deposit will be encashed by BPDB to satisfy any obligation of the Company hereunder while the Performance Security Deposit is then in effect. The Performance Security shall be forfeited without any notice, demand, or other legal process upon termination of the PPA due to Company Event of Default.
Performance Security Deposit. After receiving the individual work order(s), the bidder shall be responsible to deposit the requisite Performance Security Deposit (PSD) within the prescribed time period as specified in each work order(s):
1. Performance security deposit (PSD) shall be solicited from successful bidders except :
a) Departments/Boards of the State Government or Central Government;
b) Government Companies as defined in clause (45) of section 2 of the Companies Act, 2013;
c) Company owned or controlled, directly or indirectly, by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments which is subject to audit by the Auditor appointed by the Comptroller and Auditor-General of India under sub-section (5) or (7) of section 139 of the Companies Act, 2013;
d) Autonomous bodies, Registered Societies, Cooperative Societies which are owned or controlled or managed by the State Government or Central Government;
e) Bidder in procurement related to Panchayat Samiti Nandishala Xxx Xxxxxxxxxx Xxxxxx or Gram Panchayat Goshala/Xxxxx Xxxxxxx Xxxxx Jan Sahbhagita Yojana issued by the State Government. However, a performance security declaration shall be taken from them. The State Government may relax the provision of performance security in a particular procurement or any class of procurement.
2. The amount of performance security shall be five percent, or as may be specified in the bidding documents, of the amount of supply order in case of procurement of goods and services and ten percent of the amount of work order in case of procurement of works. In case of Small-Scale Industries of Rajasthan it shall be one percent of the amount of quantity ordered for supply of goods and in case of sick industries, other than Small Scale Industries, whose cases are pending before the Board of Industrial and Financial Reconstruction (BIFR), it shall be two percent of the amount of supply order.
3. Performance security shall be furnished in any one of the following forms-
a) deposit though eGRAS;
b) Bank Draft or Banker's Cheque of a scheduled bank;
c) National Savings Certificates and any other script/instrument under National Savings Schemes for promotion of small savings issued by a Post Office in Rajasthan, if the same can be pledged under the relevant rules. They shall be accepted at their surrender value at the time of bid and formally transferred in the name of procuring entity with the approval of Head Pos...
Performance Security Deposit. The successful Bidder will asked to deposit 10% of Supply Order Value on each occasion in favor of “Director, AIIMS Bhopal” in the form of FDR/BG from nationalized/Commercial Bank. If the Bidder interested for deposit of Performance Security in the form of Bank Guarantee, the format for the same is given at Annexure-X. It will be refundable after receipt of acceptance of quality certificate and/or Consumption Certificate of the supplies from User Department Head to the Vendor without paying any interest on deposited amount by AIIMS Bhopal. The Performance Security Deposit Instrument shall be valid for minimum period of 6 (Six) months or more. The performance Security shall be forfeit in case of contraventions of any of the terms and conditions of the tender contract.
Performance Security Deposit. The Xxxxxxx Money Deposit of the successful bidder will be converted into Performance Security Deposit which shall be kept valid for a period of 60 days beyond completion of all the contractual obligations. Further, the successful tenderer will be required to sign agreement on Notary bond of Rs. 100/- stamp paper within 15 days of issue of Notification of Award. The security deposit can be forfeited by order of this Institute in the event of any breach or negligence or non–observance of any condition of contract or for unsatisfactory performance or non–observance of any condition of the contract. Performance Security will be discharged after completion of contractor’s performance obligations (including Warranty / Guarantee period) under the contract.
Performance Security Deposit. The successful tenderer will have to deposit a Performance Security of 10% of total annual cost of the work by way of Bank draft / Bank Guarantee of scheduled bank in favor of Director BMHRC as per the prescribed format attached as Annexure -G payble at Bhopal valid for 60 days after the termination of contract.
Performance Security Deposit. 4.1 Party B shall pay the performance bond of RMB to Party A within 15 working days from the date of signing this Contract RMB Thirty-eight thousand yuan only (¥: RMB 38,000 yuan). If Party B breaches the contract during the performance of this Contract, Party A shall have the right to directly deduct the compensation and related expenses from the performance bond. If the deposit is insufficient, Party A Have the right to recover from Party B.
4.2 After Party A deducthe performance bond to Party A, if the performance bond paid by Party B to Party A is insufficient for the amount of the performance bond agreed herein, Party B shall make up the amount within 3 days after receiving the notice from Party A, otherwise, it shall be deemed as If Party B breaches the contract, Party A has the right to hold Party B liable for breach of contract according to party B’s overdue payment of rent.
4.3 at the termination of this contract (including early termination), if party b pay all the rent, and settle the property management fees and the lease of all expenses, and return the lease to party a according to this contract and there is no other default, party a after the termination of this contract, and the handover formalities within 20 working days, the performance deposit without interest. In case of breach, Party A shall repay the performance bond after Party B assumes the full liability for breach of contract.
4.4 In case of early termination or within 3 days after the expiration of this Contract, Party B shall go through the lease at the commercial registration authority The business place cancellation of the registration procedures, otherwise Party A has the right not to return the performance deposit.
Performance Security Deposit. The DSA agrees to submit a performance Security Deposit of Rs.500 (Rupees five hundred only) as a security towards due observance and performance of terms and conditions of this agreement. BSNL is satisfied that terms and conditions of said agreement have fully and properly carried out by the DSA without prejudice to its rigors of any other remedy, on failure of the DSA to provide services under this Agreement or in case of any breach in terms and conditions of the Agreement, BSNL shall forfeit the said Performance Security Deposit.
Performance Security Deposit. The successful bidder shall have to deposit a Performance Security Deposit of 3% of the total amount of estimated tender value immediately on receipt of the LOI/Order. The performance security deposit will be furnished in the form of Demand Draft/ Bank Guarantee/Banker’s Cheque/Fixed Deposit of any scheduled bank drawn in favour of “INFLIBNET Centre” payable at Gandhinagar. The performance security deposit should be valid for sixty days beyond the date of completion of all contractual obligations.
Performance Security Deposit. The First Party shall have to deposit a security Deposit in favour of “KENDRIYA VIDYALAYA JHAJHA VIDYALAYA VIKAS XXXXX ACCOUNT” payable at Jamui of Rs. 100,000/- (Rupees One Lakh Only) in the form of an Account Payee Demand Draft.
