Common use of Xxxxxxxx Deposit Clause in Contracts

Xxxxxxxx Deposit. 6.1After evaluation and finalization of Part I Technical bids and Part II Commercial bids, selected tenderer should remit a security deposit amount at 5% of the order value including the EMD drawn by means of Demand Draft /Bankers Cheque from any Nationalized/ commercial Bank in favour of “The Joint Managing Director, TCMPF Ltd., Chennai” payable at Chennai within 15 days from the date of receipt of work order.

Xxxxxxxx Deposit. 6.1After 6.1.After evaluation and finalization of Part I Technical bids and Part II Commercial bids, selected tenderer should remit a security deposit amount at 5% of the order value including the EMD drawn by means of Demand Draft /Bankers Cheque from any Nationalized/ commercial Bank in favour of “The Joint Managing Director, TCMPF Ltd., Chennai” payable at Chennai within 15 days from the date of receipt of work order.