Specifications

35
NLUO PMC CONTRACTOR
SIGNATURE AND SEAL SIGNATURE AND SEAL SIGNATURE AND SEAL
opinion of the NLUO, the delay (in any particular item of work in the whole) is of a minor nature only, and occurring due to
reason beyond control, the amount so being withheld may be waived by NLUO at his sole discretion. Provided always that the
entire amount withheld shall stand forfeited if the entire project is not completed by the due date or extended date of
completion.
9. Total Security Deposit
Total Security deposit comprises of
Earnest money deposit
Initial Security deposit
Retention Money.
a) Earnest Money Deposit.
a. The tenderers will submit the earnest money of Rs 8,00,000.00 (Rupees Eight lakhs Only) in the form of Demand
draft.
b. EMD in any other form other than as specified above will not be accepted. Tender not accompanied by the EMD is
liable to be rejected.
c. No interest will be paid on the EMD.
d. EMD of unsuccessful tenderers will be refunded within 15 days of award of contract.
e. EMD of successful tenderer will be retained as a part of security deposit.
b) Initial Security Deposit (ISD)
The amount of ISD shall be 1% of accepted value of tender including the EMD in the form of D/D drawn on any Nationalized
Bank and shall be deposited within 3 (three) days from the date of acceptance of tender.