Common use of SECURITY DEPOSIT (SD) Clause in Contracts

SECURITY DEPOSIT (SD). 17.1 Successful bidder (Contractor) shall submit Security Deposit @ 5% of Order Value (excluding Taxes, Duties, etc.) within 25 days from the date of Order/Contract. 17.2 Submission of SD is exempted for Indian PSUs. In lieu, Indemnity Bond in favor of MDL is required to be submitted (Format of the same would be forwarded with the Order). 17.3 Please note that MDL does not extend any concession such as exemption in payment of Security Deposit to any organization (Except PSU) irrespective of their status, like registration with MDL, NSIC, SSI, MSE, etc.

SECURITY DEPOSIT (SD). 17.1 e-PBG: Successful bidder (Contractor) shall submit Security Deposit @ 53% of Order Value (excluding Taxes, Duties, etc.) within 25 days from the date of Order/Contract. 17.2 18.1. Submission of SD is exempted for Indian PSUs. In lieu, Indemnity Bond in favor of MDL is required to be submitted (Format of the same would be forwarded with the Order). 17.3 18.2. Please note that MDL does not extend any concession such as exemption in payment of Security Deposit to any organization (Except PSU) irrespective of their status, like registration with MDL, NSIC, SSI, MSE, etc.