Common use of Xxxxxxx Money (Security Deposit) Clause in Contracts

Xxxxxxx Money (Security Deposit). 5.1 While submitting commercial bid, the BIDDER shall deposit an amount specified in section VI : List of Requirement, as Xxxxxxx Money in the form mentioned in Clause 18 of Section II, General instructions to the Tenderers (GIT), with the BUYER. 5.2 The xxxxxxx money shall be valid upto a period of six months from the date of the validity of the tender. 5.3 In case of the successful BIDDER, a clause would also be incorporated in the Clause pertaining to Security Deposit/ Performance Bond in the Purchase Contract that the provisions of Sanctions for Violation shall be applicable for forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The Security Deposit/ Performance Bond shall be valid for 60 days after the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the BUYER, including warranty period whichever is later. 5.4 No interest shall be payable by the BUYER to the BIDDER on Xxxxxxx Money/ Security deposit for the period of its currency.

Xxxxxxx Money (Security Deposit). 5.1 While submitting commercial bid, the BIDDER shall deposit an amount specified in section VI Section VI: List of RequirementRequirements, as Xxxxxxx Money in the form mentioned in Clause clause 18 of Section II, II General instructions Instructions to the Tenderers (GIT), with the BUYER. 5.2 The xxxxxxx money shall be valid upto a period of six months from the date of the validity of the tender. 5.3 In case of the successful BIDDER, a clause would also be incorporated in the Clause pertaining to Security Deposit/ Performance Bond in the Purchase Contract that the provisions of Sanctions for Violation shall be applicable for forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. .The Security Deposit/ Performance Bond shall be valid for 60 days after the complete conclusion of the contractual obligations oligations to the complete satisfaction of both the BIDDER and the BUYER, including warranty period whichever is later. 5.4 No interest shall be payable by the BUYER to the BIDDER on Xxxxxxx Money/ Money / Security deposit Deposit for the period of its currency.

Xxxxxxx Money (Security Deposit). 5.1 While submitting commercial bid, the BIDDER shall deposit an amount specified in section VI Section VI: List of RequirementRequirements, as Xxxxxxx Money in the form mentioned in Clause 18 of Section II, II : General instructions Instructions to the Tenderers (GIT), with the BUYER. 5.2 The xxxxxxx money Xxxxxxx Money shall be valid upto a period of six months from the date of the validity of the tender. 5.3 In case of the successful BIDDER, a clause would also be incorporated in the Clause pertaining to Security Deposit/ Deposit/Performance Bond in the Purchase Contract that the provisions of Sanctions for Violation shall be applicable for forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The Security Deposit/ Deposit/Performance Bond shall be valid for 60 days after upto the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the BUYER, including warranty period whichever is laterperiod. 5.4 No interest shall be payable by the BUYER to the BIDDER on Xxxxxxx Money/ Security deposit Deposit for the period of its currency.

Xxxxxxx Money (Security Deposit). 5.1 4.1 While submitting commercial bid, the BIDDER shall deposit an amount (shall be specified in section VI : List of Requirement, RFP) as Xxxxxxx Money in the form mentioned in Clause 18 of Section II, General instructions to the Tenderers (GIT)Money/Security Deposit, with the BUYERBUYER through any of the following instruments: (i) Bank Draft or a Pay Order in favor of Bank of Baroda (ii) Any other mode or through any other instrument (to be specified in the RFP). 5.2 4.2 The xxxxxxx money Xxxxxxx Money/Security Deposit shall be valid upto up to the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the BUYER, including warranty period, whichever is later. Further, the developer/bidder shall provide termite treatment and water leakage treatment for a period of six months from the date of the validity of the tender10 years post possession. 5.3 4.3 In case of the successful BIDDER, BIDDER a clause would also be incorporated in the Clause Article pertaining to Security Deposit/ Performance Bond in the Purchase Contract that the provisions of Sanctions for Violation shall be applicable for forfeiture of Performance Bond in case of a decision by the BUYER to forfeit the same without assigning any reason for imposing sanction for violation of this Pact. The Security Deposit/ Performance Bond shall be valid for 60 days after the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the BUYER, including warranty period whichever is later. 5.4 4.4 No interest shall be payable by the BUYER to the BIDDER on Xxxxxxx Money/ Money/Security deposit Deposit for the period of its currency.