SECURITY DEPOSIT (SD). 3.1 The Purchaser shall deposit with the Seller a sum of [Rs. (Indian Rupees )] equivalent to six percent (6%) of the Base Price of such Grade of Coal, as described in Schedule-II to this Agreement, prevalent on the date of deposit multiplied by ACQ, as Security Deposit (SD), in cash / Bank Guarantee on or before the signing of this Agreement. In case of multiple Grades indicated in Schedule-II, the highest Grade shall be considered for the purpose of calculation of SD without any commitment whatsoever to supply such Grade of Coal. Such Security Deposit shall be non-interest bearing. [In case the SD is in the form of a bank guarantee, the same shall be provided in the format enclosed with this Agreement at Schedule-III (“SD Bank Guarantee”)]
3.2 The Purchaser shall deposit at least one half of the amount of Security Deposit before the Effective Date and the balance amount shall be deposited within three (3) months of the Effective Date. Failure to submit the balance amount within three (3) months of the Effective Date, as aforementioned, shall entitle the Seller to adjust the ACQ such that it is commensurate with the Security Deposit submitted by the Purchaser. Accordingly, the Purchaser has furnished Rs. (Indian Rupees ) towards hundred percent (100%) / fifty percent (50%) [strike out which ever not applicable] of the Security Deposit amount stipulated in Clause 3.1 above.
3.3 The SD submitted by the Purchaser, as per Clause 3.2 above, shall remain valid till three (3) months from the expiry of this Agreement.
3.4 The value of the Security Deposit shall be suitably increased / decreased to match the changes in the Base Price notified by the Seller from time to time. In the event of failure of the Purchaser to provide such increased value within thirty (30) days from the date of notification of such change in Base Price, the Seller shall have the right to suspend Coal supplies. If additional SD due to such increase in the Base Price of Coal is submitted by way of additional bank guarantee, the period of validity of such bank guarantee shall be the same as that of the initial SD Bank Guarantee furnished in terms of clauses 3.1 to 3.3 above. Alternatively, the amount of the initial SD Bank Guarantee may be increased by an amendment so as to cover the increased value of SD resulting from the change in the Base Price.
3.5 The Security Deposit shall be refundable to the Purchaser at the end of its validity subject to successful completion of and complete settle...
SECURITY DEPOSIT (SD). Security Deposit means the security provided by the Contractor towards fulfilment of any obligations in terms of the provisions of the contract.
a. The total amount of Security Deposit will be 5% of the contract value. EMD of the successful bidder shall be converted and adjusted towards the required amount of Security Deposit.
b. The balance amount to make up the required Security Deposit of 5% of the contract value may be accepted in the following forms: • EFT shall be made in Bank Account No.: 10405292240 of SBI, IGFCC branch, I A Jagdishpur. MICR No. 227002003, IFSC No. SBIN0009072. E-receipt of EFT having UTR/Ref. no. Transfer from bank shall be submitted to BHEL. • Bank Guarantee from Scheduled Banks/ Public Financial Institutions as defined in the Companies Act. • Fixed deposit receipt issued by scheduled banks/Public Financial institutions as defined in companies act (FDR should be in the name of contractor, a/c BHEL).
c. 50% of Security Deposit in the form of Bank Guarantee in the prescribed Proforma as per Xxxxxxxx X. Balance shall be recovered from running @ 10% of the gross value of each running bill commencing from first running bill itself till the full Security Deposit made up. The Bank Guarantee should be from any one of our consortium banks as per list enclosed at Annexure I.
d. Validity of the Bank Guarantee furnished towards Security Deposit shall be valid up to the period of completion of work as stipulated in the letter of intent or as extended time to time plus 3 months claim period and the same will be kept valid by proper renewal till the satisfactory completion of the Guarantee Period. (Note: BHEL will not be liable or responsible in any manner for the collection of interest or renewal of the documents or in any other matter connected therewith.)
e. At least 50% of the required Security Deposit, including the EMD, should be deposited before start of the work. Balance of the Security Deposit can be collected by deducting 10% of the gross amount progressively from each of the running bills of the Contractor till the total amount of the required Security Deposit is collected.
f. If the value of work done at any time exceeds the contract value, the amount of Security Deposit shall be correspondingly enhanced and the additional Security Deposit shall be immediately deposited by the Contractor or recovered from payment/s due to the Contractor.
g. The recoveries made from running bills (cash deduction towards balance SD amount) can be rele...
SECURITY DEPOSIT (SD). The successful bidder (Contractor) shall submit the Security Deposit @ 5 % of the value of order (excluding Taxes) within 25 days from the date of Order/Contract. Security deposit on reducing balance can be accepted on completion of services. Reducing balance bank guarantee towards security deposit is to be submitted by successful bidder where it will be valid for at least one year with claim period of three months within which t he same can be extended for further period by amendment.
i. Submission of SD is exempted for Indian PSUs. In lieu, Indemnity Bond in favour of MDL is required to be submitted (Format of the same would be forwarded with the Order).
ii. Please note that MDL does not extend any concession such as exemption in payment of Security Deposit to any organization (Except PSU) irrespective of their status, like registered with MDL, NSIC, SSI, MSE, etc.
iii. No interest will be paid on Security Deposit. The security deposit will be returned only after successful execution of the order and shall be interest free.
iv. 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.
v. SD through NEFT- remittance through Bank: In case of online remittance of SD amount, scanned image of Annexure-VI, 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.
vi. 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 e...
SECURITY DEPOSIT (SD). 3.1 The Purchaser is required to deposit with the Seller a sum of [Rs [•] (Indian Rupees [•] ] equivalent to six percent (6%) of the Base Price of such Grade of Coal, as described in Schedule-III to this Agreement, prevalent on the date of deposit multiplied by ACQ, as Security Deposit (SD), in cash / Bank Guarantee on or before the signing of this Agreement. In case of multiple Grades indicated in Schedule-III, the highest Grade shall be considered for the purpose of calculation of SD without any commitment whatsoever to supply such Grade of Coal. Such Security Deposit shall be non-interest bearing. [In case the SD is in the form of a bank guarantee the same shall be provided in the enclosed format (“SD Bank Guarantee”) with this Agreement at Schedule-II. and issued from a Bank acceptable to the Seller. ’]
SECURITY DEPOSIT (SD). 17.1 Successful bidder (Contractor) shall submit Security Deposit @ 5% of Order Value (excluding Taxes, Duties, etc.) within 25 days from the date of Order/Contract.
17.2 Submission of SD is exempted for Indian PSUs. In lieu, Indemnity Bond in favor of MDL is required to be submitted (Format of the same would be forwarded with the Order).
17.3 Please note that MDL does not extend any concession such as exemption in payment of Security Deposit to any organization (Except PSU) irrespective of their status, like registration with MDL, NSIC, SSI, MSE, etc.
SECURITY DEPOSIT (SD). 3.1 On signing of this agreement the Commitment Guarantee (CG) provided by the Purchaser prior to issue of Letter of Assurance (LOA) shall stand converted into the Security Deposit amount as determined under Clause 3.2 Accordingly, a sum of Rs. [•] (Indian Rupees ) is deemed to have been deposited by the Purchaser towards the Security Deposit amount stipulated in Clause 3.2. In the event the Commitment Guarantee amount provided by Purchaser is more than the Security Deposit amount as determined under Clause 3.2, Seller shall return such balance amount within three (3) months from the date of signing of this Agreement. In an event the Security Deposit amount as determined under Clause 3.2 is more than the Commitment Guarantee amount, the Purchaser shall deposit such balance amount within three (3) months from the date of signing this agreement. Failure to submit the balance amount by the Purchaser within three (3) months from the date of signing of this agreement, as aforementioned, shall entitle the Seller to adjust the ACQ such that it is commensurate with the Security Deposit required to be submitted by the Purchaser under clause 3.2
SECURITY DEPOSIT (SD). 3.1 The Purchaser shall deposit with the Seller a sum of [Rs. (Indian Rupees
3.2 The Purchaser shall deposit at least one half of the amount of Security Deposit before the Effective Date and the balance amount shall be deposited within three (3) months of the Effective Date. Failure to submit the balance amount within three (3) months of the Effective Date, as aforementioned, shall entitle the Seller to adjust the ACQ such that it is commensurate with the Security Deposit submitted by the Purchaser. Accordingly, the Purchaser has furnished Rs. (Indian Rupees ) towards hundred percent (100%) / fifty percent (50%) [strike out which ever not applicable] of the Security Deposit amount stipulated in Clause 3.1 above.
3.3 The SD submitted by the Purchaser, as per Clause 3.2 above, shall remain valid till three (3) months from the expiry of this Agreement.
3.4 The value of the Security Deposit shall be suitably increased / decreased to match the changes in the Base Price notified by the Seller from time to time. In the event of failure of the Purchaser to provide such increased value within thirty (30) days from the date of notification of such change in Base Price, the Seller shall have the right to suspend the Coal supplies. If additional SD due to such increase in the Base Price of Coal is submitted by way of additional bank guarantee , the period of validity of such bank guarantee shall be the same as that of the initial SD Bank Guarantee furnished in terms of clauses 3.1 to 3.3 above. Alternatively, the amount of the initial SD Bank Guarantee may be increased by an amendment so as to cover the increased value of SD resulting from the change in the Base Price.
3.5 The Security Deposit shall be refundable to the Purchaser at the end of its validity subject to successful completion of and complete settlement of all claims of Seller arising out of this Agreement.
3.6 The Purchaser shall ensure that the Security Deposit stands replenished within seven
SECURITY DEPOSIT (SD). A. Upon acceptance of tender, the successful bidder must deposit the required amount of security deposit after adjusting the amount of EMD duly deposited with the tender, within the time specified in the letter of intent for satisfactory completion of work.
B. The total amount of Security Deposit shall be as follows:-
a) In the of work costing upto Rs.10 Lakh: 10%
b) Above Rs.10 lakhs upto Rs. 50 Lakhs: 1 Lakh + 7.5% of the amount exceeding Rs. 10 Lakhs.
c) Above Rs.50 lakhs: Rs.4 Lakhs+5% of the amount exceeding Rs.50 Lakhs. The security deposit calculated as above shall be deposited with in one week from the date of issue of letter of intent/ work order but before the start of work in any of the following forms. The total Security Deposit may be Deposit in the form of Demand Draft in favor of “Bharat Heavy Electricals Limited” payable at SBI, IGFCCL Branch (Branch code 9072), I.A. Jagdishpur.
SECURITY DEPOSIT (SD). Successful bidder (Contractor) shall submit Security Deposit @ 3% of Order Value (excluding Taxes, Duties, etc.) within 25 days from the date of Order/Contract.
SECURITY DEPOSIT (SD). 2.10.2.1 On signing of this agreement the Commitment Guarantee (CG) provided by the Purchaser prior to issue of Letter of Assurance (LOA) shall stand converted into the Security Deposit amount as determined under Clause 2.10.2.2. Accordingly, a sum of Rs. [•] (Indian Rupees ) is deemed to have been deposited by the Purchaser towards the Security Deposit amount stipulated in Clause 2.10.2.2. In an event the Commitment Guarantee amount provided by Purchaser is more than the Security Deposit amount as determined under Clause 2.10.2.2, Seller shall return such balance amount within three (3) months from the date of signing of this Agreement. In an event the Security Deposit amount as determined under Clause 2.10.2.2 is more than the Commitment Guarantee amount, the Purchaser shall deposit such balance amount within three (3) months from the date of signing this agreement. Failure to submit the balance amount by the Purchaser within three (3) months from the date of signing of this agreement, as aforementioned, shall entitle the Seller to adjust the ACQ such that it is commensurate with the Security Deposit required to be submitted by the Purchaser under clause 2.10.2.2
