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

Xxxxxxx Money (Security Deposit). 5.1 While submitting commercial bid, the BIDDER shall deposit anamount (to be specified in Bid Document) as EarnestMoney/Security Deposit, with the 'BUYER/ EMPLOYER'through any of the following instruments: (i) Bank Draft or a Pay Order in favour of (ii) A confirmed guarantee by an Indian Nationalised Bank,promising payment of the guaranteed sum to the'BUYER/EMPLOYER' on demand within 3 workingdays without any demur whatsoever and without seekingany reasons whatsoever. The demand for payment by the'BUYER/ EMPLOYER' shall be treated as conclusiveproof of payment. (iii) Any other mode or through any other instrument (to bespecified in the Bid Document). 5.2 The Xxxxxxx Money/Security Deposit shall be valid upto a period of months or the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the ‘BUYER/EMPLOYER', including warranty period, whichever is later. 5.3 In case of the successful BIDDER, a clause would also beincorporated in the Article pertaining to Performance Security in theProject Contract that the provisions of Sanctions for Violation shall beapplicable for forfeiture of Performance Security in case of a decisionby the ‘BUYER/EMPLOYER’ to forfeit the same without assigning anyreason for imposing sanction for violation of this Pact. 5.4 No interest shall be payable by the 'BUYER/EMPLOYER' to theBIDDER on Xxxxxxx Money/Security Deposit for the period of itscurrency.

Xxxxxxx Money (Security Deposit). 5.1 While submitting commercial bid, the BIDDER shall deposit anamount an amount (to be specified in Bid DocumentRFP) as EarnestMoneyXxxxxxx Money/Security Deposit, with the 'BUYER/ EMPLOYER'through COMPANY through any of the following instruments: (i) Bank mode mentioned in the RFP / bid document and no such mode is specified, by a Company Draft or a Pay Order in favour of (ii) A confirmed guarantee of XXX FINANCIAL SOLUTIONS LTD from a nationalized Bank including Bank of Baroda However payment of any such amount by an Indian Nationalised Bank,way of Bank Guarantee, if so permitted as per bid documents / RFP should be from any nationalized Bank and promising payment of the guaranteed sum to the'BUYER/EMPLOYER' the COMPANY on demand within 3 workingdays three working days without any demur whatsoever and without seekingany seeking any reasons whatsoever. The demand for payment by the'BUYER/ EMPLOYER' the COMPANY shall be treated as conclusiveproof of paymentconclusive proof for making such payment to the COMPANY. (iii) Any other mode or through any other instrument (to bespecified 5.2 Unless otherwise stipulated in the Bid Document). 5.2 The document / RFP, the Xxxxxxx Money/Security Deposit shall be valid upto up to a period of months five years or the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the ‘BUYER/EMPLOYER'COMPANY, including warranty period, whichever is later. 5.3 In case of the successful BIDDER, BIDDER a clause would also beincorporated be incorporated in the Article pertaining to Performance Security Bond in theProject the Purchase Contract that the provisions of Sanctions for Violation shall beapplicable be applicable for forfeiture of Performance Security Bond in case of a decisionby decision by the ‘BUYER/EMPLOYER’ COMPANY to forfeit the same same-without assigning anyreason any reason for imposing sanction for violation of this Pact. 5.4 No interest shall be payable by the 'BUYER/EMPLOYER' COMPANY to theBIDDER the BIDDER on Xxxxxxx Money/Security Deposit for the period of itscurrencyits currency.

Xxxxxxx Money (Security Deposit). 5.1 While 8.1. Every bidder, while submitting commercial price bid, the BIDDER shall deposit anamount (to be an amount* as specified in Bid Document) the tender document / supply order as EarnestMoney/Xxxxxxx Money and Security Deposit, with the 'BUYER/ EMPLOYER'through buyer through any of the following instruments:instruments:- (i) Bank Draft or a Pay Order in favour ofof the Director SLIET, Longowal. (ii) A Every bidder shall furnish a confirmed guarantee by an Indian Nationalised Nationalized Bank,, promising on behalf of bidder payment of the guaranteed sum to the'BUYER/EMPLOYER' the Director SLIET, Xxxxxxxx, on demand within 3 workingdays without any demur whatsoever and without seekingany seeking any reasons whatsoever. The demand for payment by the'BUYER/ EMPLOYER' shall be treated as conclusiveproof of payment. (iii) Any other mode or through any other instrument (to bespecified instrument, as stated in the Bid Document)tender document / supply order. 5.2 8.2. The Xxxxxxx Money/Money and Security Deposit shall be valid upto up to a period of months five years or the complete conclusion completion of the contractual obligations to the complete satisfaction of both the BIDDER bidder and the ‘BUYER/EMPLOYER', including warranty periodbuyer, whichever is later. In case there is more than one bidder, the Xxxxxxx Money shall be refunded by the buyer to those bidder(s) whose bid(s) does/do not qualify, after a recommendation is made on the bid(s) after an evaluation. 5.3 8.3 In the case of the successful BIDDER, bidder a clause would also beincorporated be incorporated in the Article pertaining to Performance Security Bond in theProject the Purchase Contract that the provisions of Sanctions for Violation shall beapplicable be applicable for forfeiture of Performance Security Bond in case of a decisionby decision by the ‘BUYER/EMPLOYER’ Buyer to forfeit the same without assigning anyreason any reason for imposing sanction for violation of this pact. 8.4 The provisions regarding Sanctions for Violation in Integrity Pact include 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 Integrity Pact. 5.4 8.5 No interest shall be payable by the 'BUYER/EMPLOYER' Buyer to theBIDDER the Bidder(s) on Xxxxxxx Money/Security Deposit for the period of itscurrencyits currency.

Xxxxxxx Money (Security Deposit). 5.1 While submitting commercial bid8.1 All procurement cases above Rs. 5 Cr and up to Rs. 100 Cr, Integrity Pact is required to be executed without any additional Financial Guarantee. The EMD/SD/PBG required to be submitted by the vendor as prescribed in the respective Procurement Manual shall only act as the financial guarantee for theIP. 8.2 The validity of the IP will be the validity of the EMD/SD/PBG or the complete conclusion of contractual obligations to complete satisfaction of both the bidder and the buyer, whichever is later. In case there are more than one bidder, the BIDDER shall deposit anamount (to be specified in Bid Document) as EarnestMoney/Security Deposit, with the 'BUYER/ EMPLOYER'through any of the following instruments: (i) Bank Draft or a Pay Order in favour of (ii) A confirmed guarantee by an Indian Nationalised Bank,promising payment of the guaranteed sum to the'BUYER/EMPLOYER' on demand within 3 workingdays without any demur whatsoever and without seekingany reasons whatsoever. The demand for payment by the'BUYER/ EMPLOYER' shall be treated as conclusiveproof of payment. (iii) Any other mode or through any other instrument (to bespecified in the Bid Document). 5.2 The Xxxxxxx Money/Security Deposit shall be valid upto refunded by the buyer to those bidder(s) whose bid does not qualify (do not qualify) after the stages of TEC/ TPC, as constituted by the Buyer, immediately after a period of months or recommendation is madeby the complete conclusion of the contractual obligations to the complete satisfaction of both the BIDDER and the ‘BUYERTEC/EMPLOYER', including warranty period, whichever is laterTPC on bid(s) after an evaluation. 5.3 8.3 In the case of the successful BIDDER, bidder a clause would also beincorporated be incorporated in the Article pertaining Articlepertaining to Performance Security Bond in theProject the Purchase Contract that the provisions of Sanctions ofSanctions for Violation shall beapplicable be applicable for forfeiture of Performance Security Bond in case of a decisionby decision by the ‘BUYER/EMPLOYER’ Buyer to forfeit the same without assigning anyreason any reasonfor imposing sanction for violation of this pact. 8.4 The provisions regarding Sanctions for Violation in Integrity Pact include 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 Integrity Pact. 5.4 8.5 No interest shall be payable by the 'BUYER/EMPLOYER' Buyer to theBIDDER the Bidder(s) on Xxxxxxx Money/Security Deposit for the period of itscurrencyits currency. 9.1 Bidders are also advised to have a company code of conduct (clearly rejecting the use of bribes and other unethical behavior) and a compliance program for the implementation of the code of conduct throughout the company.