Earnest Money Deposit (EMD). 4.2.1. All the responses must be accompanied by a refundable interest free security deposit of requisite value as specified in “Critical Information” section of RFP.
4.2.2. EMD should be in the form of
i. Demand Draft / Pay order / Bankers Cheque in favour of “Small Industries Development Bank of India” payable at Lucknow or
ii. Bank Guarantee (BG) from a Scheduled Commercial Bank valid for a minimum period of 6 months with an additional claim period of 3 months. The validity of BG should be from the last date of submission of bid and should be in the format as prescribed in Annexure VIII. In case bid submission date is extended the BG also needs to be extended by the bidder or
iii. Direct Deposit to SIDBI, Xxxxxxx Account and submission of proof along with the bid. The details of SIDBI Lucknow Account are given in Section 4.3
4.2.3. Any bid received without EMD in proper form and manner shall be considered unresponsive and rejected. Request for exemption from EMD (Security Deposit) will not be entertained.
4.2.4. The EMD amount / BG (in lieu of EMD) of all unsuccessful bidders would be refunded immediately upon happening of any the following events:
i. Issue of LoI to the successful bidder OR RFP No. 314/2022/1681/HO1/DCV Issued on January 05,2022 Page:10 of 98
ii. The end of the bid validity period, including extended period (if any) whichever is earlier.
4.2.5. Shortlisted Bidder will be refunded the EMD amount / BG (in lieu of EMD) only after submission of PBG.
4.2.6. The bid security (EMD) may be forfeited:
i. If a Bidder withdraws its bids during the period of bid validity
ii. If a Bidder makes any statement or encloses any form which turns out to be false / incorrect at any time prior to signing of the contract
iii. In case of shortlisted Bidder, if a Bidder fails to:
a. Accept the LOI / Purchase Order / Offer Letter or sign the contract Or
b. Furnish the Performance Bank Guarantee within 30 days from the date of acceptance of LoI / Contract Agreement
iv. In all the above cases, the bidder would also be banned for a period of 3 years from subsequent bidding in any of the Banks (SIDBI) tenders.
