bid document for the work - IDCO

10. When a tender is selected for acceptance, the tenderer shall deposit in the Corporation
Office the required amount of the security money in shape of Bank Guarantee in the
prescribed form on any nationalized bank located in the State of Orissa or Bank Draft in
favour of the ‘Orissa Industrial Infrastructure Development Corporation’ on any
nationalized Bank payable at Bhubaneswar. No tender shall be finally accepted until the
required amount of the security money has been deposited.
11. The amount of initial security deposit money to be deposited by the tenderer whose tender
is selected for acceptance shall be 2(two) percent (including EMD already deposited) of the
tendered amount of the work. The security money shall be deposited by the selected
tenderer within such time as may be notified to him in writing by the Corporation, failing
which tender shall be liable for rejection and Earnest money may be forfeited.
12. In addition to the earnest money deposit (at the time of submission of tender) and security
money (to be deposited by the selected tenderer before drawal of agreement) a further
deduction of 5(Five) percent will be made from each and every bill of the Contractor
towards performance security by the Corporation. The entire security money so deducted
will be refunded to the Contractor after one calendar year from the date of completion of the
work, i.e. after one year of successful testing & commissioning of the work.
13. Besides, deductions towards Sales Tax (VAT) on works contact, and Income Tax will be
made from each and every bill of the contractor as per statutory orders of the
competent/appropriate authority and credited to the concerned Departments of
State/Central Governments. Necessary certificate towards such deduction will be furnished
by the Corporation to the contractor.
14. Royalties on minor minerals used in the contract work shall be deducted from the
contractors bill at source at rates prescribed as per statutory rules. However, the amount
deducted towards royalty charges can be refunded to the contractor if clearance certificate
from the concerned Departme1nt is produced by the Contractor establishing payment of the
royality.
15. The tenderer has to furnish attested copies copy of valid document showing IDCO vendor
/Valid license, PAN, Clearance certificate on VAT –612, EPF Registration Certificate ,proof
of ownership of machineries both in self possession or hire with company profile,
organization chart, details of key personnel, financial balance sheet for last three years and
maximum turn over of Rs. 75.00 lakhs per year , solvency certificate from a schedule bank
along with the tender.
16. The tender will remain valid up to 120 days (One hundred twenty days) from the date of
receipt of tender.
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