Common use of Additional Security Deposit Clause in Contracts

Additional Security Deposit. If the offer of the successful tenderer is 15% or more than 15% below the amount put to tender, then the successful tenderer whose tender is accepted will have to deposit additional security deposit amount equIV Aalent to 5% of contract price toward performance of work. This additional security deposit shall be deposited in cash /FDR of schedule Bank having branches in Maharashtra duly pledged in the name of Executive Engineer at the time of acceptance of tender.. This additional security deposit towards performance shall be valid for full period of completion of work including defect liability period.Failing which such tender shall be deemed to be withdrawn and their ▇▇▇▇▇▇▇ money shall be forfeited to the Govt. The additional security deposit shall be refunded within 30 days from the date of issue of satisfactory completion of defect liability period.

Additional Security Deposit. If the offer of the successful tenderer is 1510% or more than 1510% below the amount put to tender, then the successful tenderer whose tender is accepted will have to deposit additional security deposit amount equIV Aalent equivalent to 5% of the amount put to tender contract price toward performance of work. This additional security deposit shall be deposited in cash /FDR of schedule Bank having branches in Maharashtra duly pledged in the name of Executive Engineer P.W.Division Yavatmal at the time of acceptance of tender.. This additional security deposit towards performance shall be valid for full period of completion of work including defect liability period.Failing which such tender shall be deemed to be withdrawn and their ▇▇▇▇▇▇▇ money shall be forfeited to the Govt. The additional security deposit shall be refunded within 30 days from the date of issue of satisfactory completion of defect liability period.

Additional Security Deposit. If the offer of the successful tenderer is 1510% or more than 1510% below the amount put to tender, then the successful tenderer whose tender is accepted will have to deposit additional security deposit amount equIV Aalent equivalent to 5% of contract price amount put to tender toward performance of work. This additional security deposit shall be deposited in cash /FDR of schedule Bank having branches in Maharashtra duly pledged in the name of Executive Engineer at the time of acceptance of tender.. This additional security deposit towards performance shall be valid for full period of completion of work including defect liability period.Failing which such tender shall be deemed to be withdrawn and their ▇▇▇▇▇▇▇ money shall be forfeited to the Govt. The additional security deposit shall be refunded within 30 days from the date of issue of satisfactory completion of defect liability period.

Additional Security Deposit. If the offer of the successful tenderer is 1510% or more than 1510% below the amount put to tender, then the successful tenderer whose tender is accepted will have to deposit additional security deposit amount equIV Aalent equivalent to 5% of contract price amount put to tender toward performance of work. This additional security deposit shall be deposited in cash /FDR of schedule Bank having branches in Maharashtra duly pledged in the name of Executive Engineer P.W.Division Pusad at the time of acceptance of tender.. This additional security deposit towards performance shall be valid for full period of completion of work including defect liability period.Failing which such tender shall be deemed to be withdrawn and their ▇▇▇▇▇▇▇ money shall be forfeited to the Govt. The additional security deposit shall be refunded within 30 days from the date of issue of satisfactory completion of defect liability period.

Additional Security Deposit. If the offer of the successful tenderer is 1510% or more than 1510% below the amount put to tender, then the successful tenderer whose tender is accepted will have to deposit additional security deposit amount equIV Aalent equivalent to 5% of contract price amount put to tender toward performance of work. This additional security deposit shall be deposited in cash /FDR of schedule Bank having branches in Maharashtra duly pledged in the name of Executive Engineer at the time of acceptance of tender.. This additional security deposit towards performance shall be valid for full period of completion of work including defect liability period.. Failing which such tender shall be deemed to be withdrawn and their ▇▇▇▇▇▇▇ money shall be forfeited to the Govt. The additional security deposit shall be refunded within 30 days from the date of issue of satisfactory completion of defect liability period.