Common use of Bid Security Clause in Contracts

Bid Security. 16.1 Pursuant to Clause-l2, the bidder shall furnish, as part of his bid, bid security in the amount specified in Request of Quotation (RFQ). 16.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months beyond the validity of the Bid. 16.4 Any bid not secured in accordance with Clause-16.1 and 16.3 may be rejected by BCPL as non-responsive. 16.5 Unsuccessful bidder's bid security will be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPL. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Security pursuant to Clause-40. 16.7 The bid security may be forfeited: a) If a bidder withdraws his bid during the period of bid validity. b) in the case of a successful bidder, if the bidder fails: i) to accept the Notification of Award/Fax of lntent (FOI) or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 19.1 The Bidder shall furnish, furnish as part of his bidits Technical Bid, bid security a Bid Security in the amount and currency specified in Request of Quotation (RFQ)the BDS. 16.2 19.2 The bid Bid Security shall be a demand guarantee in any of the following forms at the Bidder’s option: (a) an unconditional guarantee issued by a bank or financial institution (such as an insurance, bonding or surety company); (b) an irrevocable letter of credit; (c) a cashier’s or certified check; or (d) another security specified in the BDS, from a reputable source from an eligible source country. If the unconditional guarantee is required issued by a financial institution located outside the Employer’s Country, the issuing financial institution shall have a correspondent financial institution located in the Employer’s Country to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Securitymake it enforceable. In the case of a bank guarantee, the Bid Security is shall be submitted either using the Bid Security Form included in Section IV, Bidding Forms, or in another substantially similar format approved by the Employer prior to Bid submission. In either case, the form must include the complete name of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidderBidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. The Bid Security shall be valid for two months twenty-eight (28) days beyond the original validity period of the Bid, or beyond any period of extension if requested under ITB 18.2. 16.4 19.3 Any bid Bid not secured in accordance with Clause-16.1 and 16.3 may accompanied by a substantially responsive Bid Security shall be rejected by BCPL the Employer as non-non- responsive. 16.5 Unsuccessful bidder's bid security will 19.4 The Bid Security of unsuccessful Bidders shall be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPL. 16.6 The successful bidder's bid security will be discharged possible upon the bidder's accepting the award & successful Bidder’s signing the Agreement, pursuant to Clause-39 Contract and furnishing the Contract Performance Security pursuant to Clause-40ITB 42. 16.7 19.5 The bid security Bid Security of the successful Bidder shall be returned as promptly as possible once the successful Bidder has signed the Contract and furnished the required Performance Security. 19.6 The Bid Security may be forfeited: (a) If if a bidder Bidder withdraws his bid its Bid during the period of bid validity. b) in Bid validity specified by the case Bidder on the Letters of a successful bidderTechnical Bid and Price Bid, if or any extension thereto provided by the bidder fails: i) to accept the Notification of Award/Fax of lntent (FOI) Bidder; or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 12.1 The Bidder shall furnish, as part Bid Security an amount as mentioned in clause 1.1.2 of his bidNIB and also refer The Rajasthan Transparency in Public Procurement Rules, bid security in the amount specified in Request of Quotation (RFQ)2013, clause 42. 16.2 12.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid deposited through Bankers cheque/DD of nationalized Bank in the name of Jaipur metro rail corporation, Jaipur. The Bidder needs to upload scanned copy of DD/Bankers cheque at website ▇▇▇▇://▇▇▇▇▇.▇▇▇▇▇▇▇▇▇.▇▇▇.▇▇ for two months beyond the validity of the Bide-Biding. 16.4 12.3 Any bid Bid not secured in accordance with Clause-16.1 and 16.3 may accompanied by an acceptable Bid Security shall be summarily rejected by BCPL as being non-responsive. 16.5 Unsuccessful bidder's bid security will 12.4 The Bid securities of unsuccessful Bidder shall be discharged/returned by the Employer as promptly as possible, possible as but not later than 30 days after the expiration of the period of bid Bid validity prescribed by BCPLas defined in Clause 11.1 of ITB. In this connection, Clause 25.3 of ITB may also be referred to. 16.6 12.5 The Bid Security of the successful bidder's bid security will Bidder shall be discharged returned upon the bidder's accepting Bidder executing the award & signing the Agreement, pursuant to Clause-39 Contract Agreement and after furnishing the Contract Performance Security pursuant to Clause-40required performance guarantee for performance, as mentioned in Clause 27.0 of ITB. 16.7 12.6 The bid security may Bid Security shall be forfeited: a) a. If a bidder ▇▇▇▇▇▇ withdraws his bid Bid during the period of bid Bid validity., or b) b. If the Bidder does not accept the correction of his Bid price in the terms of Clause 22.0 of ITB or c. In case of a successful bidderBidder, if the bidder failshe fails to: i) to accept i. Furnish the Notification necessary performance guarantee for performance as per Clause 27.0 of Award/Fax of lntent (FOI) orITB. ii) to furnish Contract Performance Security in accordance with Clause-40.. Commence the work as per terms & conditions of Bid after issuance of LOA iii) to accept arithmetical corrections.. Enter into the Contract within the time limit specified in Clause 26.0 of ITB 16.8 The Bid security shall 12.7 No interest will be submitted in payable by the form of crossed Bank Demand Draft drawn Employer on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case the Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later dateamount cited above.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder The Bidder shall furnish, as part of his bidBid, bid a Bid security in the amount specified as shown in Request column 4 of Quotation (RFQ)the table of IFB for this particular work. This bid security shall be in favour of Himachal Pradesh Road and Other Infrastructure Development Corporation Limited, payable at Shimla Himachal Pradesh, India and may be in one of the following forms: - a bank guarantee issued by a nationalized / scheduled bank located in India in the form given in Section 8. If the institution issuing the bid security is located outside India, it shall have a correspondent financial institution located in India to make it enforceable.; - The bid security of a joint venture must define as ‘bidder’ all joint venture partners and list them in the following manner : a joint venture consisting of ‘…….’, ‘… ’, and ‘ ’. 16.2 The Bank guarantees issued as surety for the bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 16.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in accordance with Clause-16.1 Sub- Clauses 16.1 and 16.3 may 16.2 above shall be rejected by BCPL the Employer as non-responsive. “The Bid security of a joint venture must define as “bidder” all joint venture partners and list them in the following manner: a joint venture consisting of ’………….’, ’… ’, and 16.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period specified in Sub-Clause 15.1. 16.5 Unsuccessful bidder's bid security The Bid Security of the successful bidder will be discharged/returned as promptly as possible, but not later than 30 days after discharged when the expiration of bidder has signed the period of bid validity prescribed by BCPLAgreement and furnished the required Performance Security. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Bid Security pursuant to Clause-40. 16.7 The bid security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) if the Bidder does not accept the correction of the Bid Price, pursuant to Clause 27; or (c) in the case of a successful bidderBidder, if the bidder fails: Bidder fails within the specified time limit to (i) to accept sign the Notification of Award/Fax of lntent (FOI) Agreement; or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the 14.1 The bidder shall furnish, as part of his bid, bid security in the amount specified in Request of Quotation the Invitation for Bids (RFQIFB). 16.2 14.2 The bid security is required to protect BCPL GAIL against the risk of bidder's conduct ’s conduct, which would warrant the security's ’s forfeiture, pursuant to Clause- 16.7. 16.3 BCPL 14.3 GAIL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of CreditGuarantee, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Nationalised Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two 2 months beyond the validity of the Bid. 16.4 14.4 Any bid not secured in accordance with Clause-16.1 and 16.3 tender conditions may be rejected by BCPL GAIL as non-non- responsive. 16.5 14.5 Unsuccessful bidder's ’s bid security will be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPLGAIL, pursuant to ITB Clause-15. 16.6 14.6 The successful bidder's ’s bid security will be discharged upon the bidder's ’s accepting the award & signing the Agreement, pursuant to Clause-39 Agreement and furnishing the Contract Performance Security pursuant to Clause-40Security. 16.7 14.7 The bid security may be forfeited: a) If a bidder withdraws his bid during the period of bid validity. b) in the case of a successful bidder, if the bidder fails: i) to accept the Notification of Award/Award / Fax of lntent Intent (FOI) / Letter of Intent (LOI), or ii) to furnish Contract Performance Security / Security Deposit in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The 14.8 Bid security shall Security should be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh▇▇▇▇ (India) Limited and addressed to GAIL. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date. The Bid Security shall be in the form provided at F-4 (Bank Guarantee) .

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 19.1 The Bidder shall furnish, furnish as part of his its bid, bid security either a bid 19.2 A Bid Securing Declaration shall use the form included in the amount specified in Request of Quotation Section IV (RFQBidding Forms). 16.2 19.3 If a bid security is specified pursuant to ITB 19.1, the bid security shall be a demand guarantee in any of the following forms at the Bidder’s option: (a) an unconditional bank guarantee issued by a bank or surety; (a) an irrevocable letter of credit; (b) a cashier’s or certified check; or (c) another security indicated in the BDS from a reputable source from the bidder's country. In the case of a bank guarantee, the bid security shall be submitted either using the Bid Security Form included in Section IV (Bidding Forms) or another form acceptable to the Employer. The form must include the complete name of the Bidder. The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months twenty-eight (28) days beyond the original validity period of the Bidbid, or beyond any period of extension if requested under ITB 18.2. 16.4 Any 19.4 If a bid security is specified pursuant to ITB 19.1, any bid not secured in accordance with Clause-16.1 and 16.3 may accompanied by a substantially responsive bid security or Bid-Securing Declaration shall be rejected by BCPL the Employer as non-non responsive. 16.5 Unsuccessful bidder's 19.5 If a bid security will is specified pursuant to ITB 19.1, the bid security of unsuccessful Bidders shall be discharged/returned as promptly as possible, but not later than 30 days after possible upon the expiration successful Bidder’s furnishing of the period of bid validity prescribed by BCPLperformance security pursuant to ITB 40. 16.6 19.6 The successful bidder's bid security will of the successful Bidder shall be discharged upon returned as promptly as possible once the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing successful Bidder has signed the Contract Performance Security pursuant to Clause-40and furnished the required performance security. 16.7 19.7 The bid security may be forfeited: forfeited or the Bid Securing Declaration executed: (a) If if a bidder Bidder withdraws his its bid during the period of bid validity. bvalidity specified by the Bidder on the Letter of Bid Form, except as provided in ITB 18.2 or (a) in the case of a successful bidder, if the bidder fails: successful Bidder fails to: (i) to accept sign the Notification of Award/Fax of lntent (FOI) or ii) to furnish Contract Performance Security in accordance with Clause-40ITB 40; or (ii) furnish a performance security in accordance with ITB 41. iii) to accept arithmetical corrections. 16.8 19.8 The Bid bid security of a JVA shall be submitted in the form name of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour the JVA that submits the bid. If the JVA has not been legally constituted at the time of BCPLbidding, payable at Dibrugarh. In case the Bid Security is shall be in the form names of Bank Guarantee or Letter all future partners as named in the letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential intent referred to have proper co-relation at a later datein ITB 4.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder 16.1. The Bidder shall furnish, as part of his bidBid, bid a Bid security in the amount specified as shown in Request column 5 of Quotation (RFQ)the table of IFB for this particular work. This bid security shall be in favour of Employer as named in Appendix and may be in one of the following forms: a. Receipt in challan of cash deposit in the Govt. Treasury in India. 16.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be b. Deposit-at-call Receipt from any scheduled Indian scheduled bank Bank or a branch of an International bank situated foreign Bank located in India and registered with approved by the Reserve bank Bank of India as scheduled foreign bank India. c. Indian Post Office / National Savings Certificate duly endorsed by the competent postal authority in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of India. d. Bank Guarantee from banks other than the Nationalized any scheduled Indian banksbank, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the format given in Volume- III. e. Fixed Deposit Receipt, a certified cheque or an irrevocable letter of credit, issued by any Scheduled Indian Bank Guarantee itself or separately on its letterheada foreign Bank approved by the Reserve Bank of India. 16.2. Bid Security Bank guarantees (and other instruments having fixed validity) issued as surety for the bid shall be valid for two months 45 days beyond the validity of the Bidbid. 16.4 16.3. Any bid not accompanied by an acceptable Bid Security and not secured as indicated in accordance with Clause-16.1 Sub-Clauses 16.1 and 16.3 may 16.2 above shall be rejected by BCPL the Employer as non-responsive. 16.5 Unsuccessful bidder's bid security 16.4. The Bid Security of unsuccessful bidders will be discharged/returned as promptly as possible, but not later than 30 within 28 days after the expiration of the period end of the bid validity prescribed by BCPLperiod specified in Sub-Clause 15. 16.6 16.5. The Bid Security of the successful bidder's bid security bidder will be discharged upon when the bidder's accepting bidder has signed the award & signing Agreement and furnished the Agreement, pursuant to Clause-39 and furnishing the Contract required Performance Security pursuant to Clause-40Security. 16.7 16.6. The bid security Bid Security may be forfeited: (a) If a bidder if the Bidder withdraws his bid the Bid after Bid opening during the period of bid Bid validity.; (b) If the Bidder does not accept the correction of the Bid Price, pursuant to Clause 27; or (c) in the case of a successful bidderBidder, if the bidder fails:Bidder fails within the specified time limit to (i) to accept Sign the Notification of Award/Fax of lntent (FOI) Agreement; or (ii) to furnish Contract the required Performance Security in accordance with Clause-40Security. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the bidder shall furnish, as part of his bid, bid security in the amount specified in Request of Quotation (RFQ). 16.2 The bid security is required to protect BCPL against the risk of bidder's conduct which would warrant the security's forfeiture, pursuant to Clause- 16.7 16.3 BCPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. However, in case of Bank Guarantee from banks other than the Nationalized Indian banks, the bank must be commercial bank having net worth in excess of Rs 100 crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee itself or separately on its letterhead. Bid Security shall be valid for two months beyond the validity of the Bid. 16.4 Any bid not secured in accordance with Clause-16.1 and 16.3 may be rejected by BCPL as non-non- responsive. 16.5 Unsuccessful bidder's bid security will be discharged/returned as promptly as possible, but not later than 30 days after the expiration of the period of bid validity prescribed by BCPL. 16.6 The successful bidder's bid security will be discharged upon the bidder's accepting the award & signing the Agreement, pursuant to Clause-39 and furnishing the Contract Performance Security pursuant to Clause-40. 16.7 The bid security may be forfeited: a) If a bidder withdraws his bid during the period of bid validity. b) in the case of a successful bidder, if the bidder fails: i) to accept the Notification of Award/Fax of lntent (FOI) or ii) to furnish Contract Performance Security in accordance with Clause-40. iii) to accept arithmetical corrections. 16.8 The Bid security shall be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPL, payable at Dibrugarh. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same must indicate the Bid Document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date.

Bid Security. 16.1 Pursuant to Clause-l2, the 18.1 The bidder shall furnish, as part of his bidits Bid, bid security a Bid Security in the amount specified in Request of Quotation (RFQ)the IFB. 16.2 18.2 The bid security is required to protect BCPL the Owner against the risk of bidder's ’s conduct which would warrant the bid security's ’s forfeiture, pursuant to Clause- 16.7ITB clause 18.9. 16.3 BCPL 18.3 The bid security in Indian Rupees shall be in the form of “Online Banking transaction” or Demand Draft/ Banker’s Cheque in favour of GOA NATURAL GAS PVT. LTD., payable at North Goa or in the form of an irrevocable Bank Guarantee in favour of GOA NATURAL GAS PVT. LTD. as per format enclosed at F-4 (issued by Indian Nationalised /Scheduled bank or a branch of an International Bank situated in India and registered with Reserve Bank of India as Schedule Foreign Bank in case of Indian Bidders and from any reputed international bank or Indian Schedule Bank in case of Foreign Bidders). 18.4 To enable the bidders to utilize online transaction option, Bank details of GNGPL is as specified at ITB clause 18.14 below. 18.5 Bidder is required to submit successful Transaction Details along with their bid. In case of online transaction, submission of EMD in original is not applicable. 18.6 GNGPL shall not be liable to pay any bank charges, commission or interest on the amount of Bid Security. In case Bid Security is in the form of a Bank Guarantee or irrevocable Letter of Credit, the same shall be from any Indian scheduled bank or a branch of an International bank situated in India and registered with Reserve bank of India as scheduled foreign bank in case of Indian bidder and from any reputed International bank or Indian scheduled bank in case of foreign bidder. bid security. 18.7 However, in case of Bank Guarantee from banks other than the Nationalized Indian banksbank, the bank must be a commercial bank having net worth in excess of Rs Rs. 100 crores Crores and a declaration to this effect should be made by such commercial bank either in the Bank Guarantee bank guarantee itself or separately on its letterhead. Bid Security letter head. 18.8 The bid security shall be valid for two (02) months beyond the validity of the Bidbid as specified in Clause 17 of ITB i.e. 5 (five) months beyond deadline for bid submission. 16.4 18.9 Any bid not secured in accordance with Clause-16.1 ITB clause 18.1 and 16.3 may 18.3 shall be rejected by BCPL GNGPL as non-responsive. 16.5 18.10 Unsuccessful bidder's ’s bid security will be discharged/returned discharged / returned, as promptly as possible, possible but not later than 30 days after the expiration of the period of bid validity prescribed by BCPLOWNER pursuant to ITB clause 18.0. 16.6 18.11 The successful bidder's ’s bid security will be discharged upon the bidder's ’s accepting the award & signing the Agreementorder, pursuant to Clause-39 ITB clause 40.0 and furnishing the Contract Performance Security Guarantee pursuant to Clause-40ITB clause 42.0. 16.7 18.12 The bid security may be forfeited: a) If a bidder withdraws his its bid during the period of bid Bid validity. b) in the In case of a successful bidder, if the bidder fails: i) to accept the Notification award in accordance with clause 40 of Award/Fax of lntent (FOI) or ITB or ii) to accept the arithmetic corrections pursuant to clause 33 of ITB and/or iii) in case of a successful Bidder, if the Bidder fails, within the specified period to sign the Contract and to furnish Contract Performance Security the performance guarantee in accordance with Clause-40Clause 42 of ITB. iii) to accept arithmetical corrections. 16.8 The 18.13 Bid security shall should be submitted in the form of crossed Bank Demand Draft drawn on any Nationalized/Scheduled bank in favour of BCPLGOA NATURAL GAS PVT. LTD., payable at DibrugarhNorth Goa. In case Bid Security is in the form of Bank Guarantee or Letter of Credit, the same security must indicate the Bid Document bid document and the work for which the bidder is quoting. This is essential to have proper co-relation at a later date. The bid security shall be in the form of irrevocable Bank guarantee shall be in the Format F-4, provided in the bidding document. 18.14 Bank details of GNGPL are as below: Account Name: Goa Natural Gas Private Limited Account no 40352433901 Bank Name State Bank of India IFSC code: SBIN0009995 MICR code 400002133 Branch name CAG Mumbai 18.15 MSEs (Micro & Small Enterprises) are exempted from submission of EMD in accordance with the provisions of PPP-2012 and Clause 53 of ITB. However, Traders/Dealers/ Distributors /Stockiest /Wholesaler are not entitled for exemption of EMD. The Government Departments/PSUs are also exempted from the payment of EMD. 18.16 MSEs (to whom EMD exemption is allowed as per extant guidelines in vogue) is required to submit Declaration for Bid Security in bid as per Annexure-I.