Examples of Tendered value in a sentence
Security deposit: A sum @ 10% of the gross amount of the bill shall be deducted from each running bill of the contractor till the sum will amount to security deposit of 10% (i/c 5% PBG) of the Tendered value of the individual agreement of Supply Portion.
If the Tendered value of work is more than Rs. 45 lac and up to Rs. 2.5 Crore : 21 days.
If the Tendered value of work exceeds Rs.2.5 Crore : 30 days.Neither party shall claim any compensation for such eventuality.
The validity period of the performance security in the form of performance bank guarantee shall be one year from the date of actual completion of work.SECURITY DEPOSIT: In addition to performance guarantee stated above, a sum @ 10% of the gross amount of the bill shall be deducted from each running bill of the contractor till the sum be deducted with the sum already deposited as earnest money, will amount to security deposit of 5% of the Tendered value of the work.
If the Tendered value of work exceeds Rs. 2.5 Crore : 30 days.Neither party shall claim any compensation for such eventuality.This clause is not applicable for any breach of the contract by either party.