Examples of Deposit in a sentence
Remit check or money order, made payableto the Superintendent of Documents, or charge to your GPO Deposit Account, VISA, MasterCard, American Express, or Discover.
If the Principal/Owner has disqualified the Bidder(s) from the Tender process prior to the award of the Contract or terminated/determined the Contract or has accrued the right to terminate/determine the Contract according to Article 3(1), the Principal/Owner apart from exercising any legal rights that may have accrued to the Principal/Owner, may in its considered opinion forfeit the entire amount of Earnest Money Deposit, Performance Guarantee and Security Deposit of the Bidder/Contractor.
The EMD of the successful bidder shall be returned after the successful submission of Bank Guarantee/ Security Deposit and for unsuccessful bidder(s) it would be returned after award of the contract.
The Earnest Money Deposit (in pre-contract stage) and/or Security Deposit/Performance Bond (after the contract is signed) shall stand forfeited either fully or partially, as decided by the CORPORATION and the CORPORATION shall not be required to assign any reason therefore.
Recoveries, if any, on account of uncovered period of insurance (WC Policies), defective work, losses to CWC or any other liability not fulfilled by contractor etc., shall be effected from the contractor’s bill/any other due (s) amount (i.e. Final Bill, Security Deposit & Performance Bank Guarantee, etc,).