Common use of Performance Security Deposit Clause in Contracts

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 successful Bidder will asked to deposit 105% 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. XI. 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 successful Bidder will asked to deposit 105% 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. XIII 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.