Department of Official Language
Department of Official Language
Department of Official Language
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24. Signing <strong>of</strong> Contract<br />
Soon after, say within a week <strong>of</strong> the <strong>Department</strong> notifying & accepting the successful Bidder,<br />
both the parties i.e. the <strong>Department</strong> & the Successful Vendor will sign the contract as per<br />
format prescribed by the <strong>Department</strong>, incorporating all provisions between the parties. The<br />
successful bidder shall be required to furnish a performance security equal to 10% <strong>of</strong> the total<br />
approved cost <strong>of</strong> the tender within fifteen days after receipt <strong>of</strong> Advance Work order in the form<br />
<strong>of</strong> Bank Guarantee issued by a scheduled bank / nationalised bank in favour <strong>of</strong> the<br />
<strong>Department</strong> and valid for a period <strong>of</strong> 36 months from the date <strong>of</strong> execution <strong>of</strong> agreement <strong>of</strong><br />
contract. The performance security shall be discharged/returned on expiry and successful<br />
completion <strong>of</strong> the contract. In case <strong>of</strong> non-execution <strong>of</strong> the contract, in part or in full, the<br />
performance security shall be forfeited, after giving due notice to the contractor in respect <strong>of</strong><br />
the defective/ improper performance/ execution or breach <strong>of</strong> any <strong>of</strong> the terms <strong>of</strong> the contract<br />
etc. The performance security is in addition to the EMD.<br />
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