SECURITY DEPOSIT (SD)/e-PBG Sample Clauses
The SECURITY DEPOSIT (SD)/e-PBG clause requires a party, typically a contractor or supplier, to provide a financial guarantee in the form of a security deposit or an electronic performance bank guarantee (e-PBG) to the other party, usually the client or employer. This deposit or guarantee is held for the duration of the contract and may be forfeited if the contractor fails to meet contractual obligations, such as timely completion of work or rectification of defects. The core function of this clause is to protect the client from financial loss due to non-performance or breach of contract by the contractor, thereby ensuring compliance and accountability.
SECURITY DEPOSIT (SD)/e-PBG. Successful bidder (Contractor) shall submit Security Deposit @ 5% of Order Value (excluding Taxes, Duties, etc.) within 25 days from the date of Order/Contract.
17.1 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).
17.2 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)/e-PBG. Successful bidder (Contractor) shall submit Security Deposit @ 5%
17.1 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).
17.2 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)/e-PBG. Not applicable to this tender.
SECURITY DEPOSIT (SD)/e-PBG. Not applicable to This Tender. 18. GUARANTEE/Warranty: Contractor shall stand guarantee to the work for a period of 12 months from the date of completion. During this period, if any defect is found & is brought to the notice of contractor. Contractor shall rectify the defect immediately at no additional cost to MDL.
SECURITY DEPOSIT (SD)/e-PBG. Successful bidder (Contractor) shall submit Security Deposit @ 5% of Order Value (excluding Taxes, Duties, etc.) within 25 days from the date of Order/Contract. दो बोली जीईएम् -निनिदा जीईएम् /२०२३/बी/४१५७९८३ TWO BID GEM BID GEM/ 2023/B/4157983– BRC for Flushing Activity of Cooling Line of Pipes/ Hoses and Tubes for Project P17A. 17.4. 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).