Security Deposit. The Licensee shall pay interest free refundable security deposit (refundable, interest free) of Rs.10,000/- in the form of Demand draft.
Security Deposit. The contractor should deposit security deposit either in the form of Bank Guarantee (from any one of the Nationalized Bank or SBI) or by Demand Draft for 5% of the total Contract Value of one year. This Security Deposit should be furnished within 10 days of the issue of the Contact. This Security Deposit will not bear any interest .The Security Deposit will be refunded after satisfactory completion of the contract. In case the Security Deposit is to be furnished in the form of Bank Guarantee, it should be valid for 2 months beyond the contract period for lodging the claims, if any the Bank Guarantee should be furnished in the format prescribed by HLL
Security Deposit. 5.1 As mentioned elsewhere in this Agreement, the Licensee shall furnish to Railway (in the manner and form acceptable to Railway) a Security Deposit for an amount equal to 10% (ten percent) of the Total License Fee for the entire duration of the License, within 15 (fifteen) days on receipt of LOA.
5.2 Security Deposit shall be paid in the form of Bank Draft/Performance Bank Guarantee (PBG)/Cash (deposited with Chief Cashier of the Railway). The said PBG shall be paid for in the manner as set forth in the bid. The said PBG shall be given in format provided at Chapter 1 (Annexure 6), valid for the Term of the Agreement and a period extending 6 months beyond the Term of the Agreement. Security Deposit will be returned within 90 days after the contract has been completed successfully, the unit has been vacated by the Licensee and handed over to Railway as per para 6.25 of the Agreement, and there are no dues pending on the Licensee.
5.3 Notwithstanding anything mentioned in this Agreement, upon any default or breach of obligations by the Licensee under the Agreement, Railway may at its sole discretion draw upon the Security Deposit to satisfy its claims against the Licensee by imposition of Penalties or otherwise, irrespective any other remedy under this Agreement.
Security Deposit. The successful tenderer will have to deposit DD of 3 % of the total order value in favour of “Indian Institute of Management Raipur” payable at Raipur drawn on any Nationalized Bank/Scheduled Bank and valid for 60 days beyond the expiry period of onsite warranty (03 years).