Common use of PERFORMANCE SECURITY & EXECUTION OF CONTRACT Clause in Contracts

PERFORMANCE SECURITY & EXECUTION OF CONTRACT. Firm whose offer is accepted will have to furnish as Fixed Deposit @5% against the total contract value in favour of JMCH TENDER issued by any scheduled bank payable at Canara Bank, Jorhat Branch. The Performance Security shall be refunded within 15 to 90 days after completion of the contract as per order, or after the expiry of contract on satisfactory completion of the same whichever is later. No interest will be paid on Performance Security/Xxxxxxx Money Deposit. In case of breach of any terms and conditions of the contract or on unsatisfactory performance, the amount of security deposit shall be liable forfeited by the Authority, JMCH, Jorhat and his decision shall be final. The expenses of completing and stamping the agreement shall be paid by the bidder. Chapter -2

PERFORMANCE SECURITY & EXECUTION OF CONTRACT. Firm whose offer is accepted will have to furnish as Fixed Deposit @5% against the total contract value in favour of JMCH TENDER issued by any scheduled bank payable at Canara Bank, Jorhat Branch. The Performance Security shall be refunded within 15 to 90 days after completion of the contract as per order, or after the expiry of contract on satisfactory completion of the same whichever is later. No interest will be paid on Performance Security/Xxxxxxx Money Deposit. In case of breach brPer piece of any terms and conditions of the contract or on unsatisfactory performance, the amount of security deposit shall be liable forfeited by the Authority, JMCH, Jorhat and his decision shall be final. The expenses of completing and stamping the agreement shall be paid by the bidder. Chapter -2

PERFORMANCE SECURITY & EXECUTION OF CONTRACT. Firm whose offer is accepted will have to furnish as Fixed Deposit @5% against the total contract value in favour of JMCH TENDER issued by any scheduled bank payable at Canara Bank, Jorhat Branch. The Performance Security shall be refunded within 15 to 90 days after completion of completionof the contract as per order, or after the expiry of contract on satisfactory completion of the same whichever is later. No interest will be paid on Performance Security/Xxxxxxx Money Deposit. In case of breach brPer piece of any terms and conditions of the contract or on unsatisfactory performance, the amount of security deposit shall be liable forfeited by the Authority, JMCH, Jorhat and his decision shall be final. The expenses of completing and stamping the agreement shall be paid by the bidder. Chapter -2