Common use of Performance Security Deposit Clause in Contracts

Performance Security Deposit. The DSA agrees to submit a performance Security Deposit of Rs.500 (Rupees five hundred only) as a security towards due observance and performance of terms and conditions of this agreement. BSNL is satisfied that terms and conditions of said agreement have fully and properly carried out by the DSA without prejudice to its rigors of any other remedy, on failure of the DSA to provide services under this Agreement or in case of any breach in terms and conditions of the Agreement, BSNL shall forfeit the said Performance Security Deposit.

Performance Security Deposit. The DSA agrees to submit a performance Security Deposit of Rs.500 Rs.5000 (Rupees five hundred thousand only) as a security towards due observance and performance of terms and conditions of this agreement. BSNL is satisfied that terms and conditions of said agreement have fully and properly carried out by the DSA without prejudice to its rigors of any other remedy, on failure of the DSA to provide services under this Agreement or in case of any breach in terms and conditions of the Agreement, BSNL shall forfeit the said Performance Security DepositDeposit .