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Tender Document - irpmu.railnet.gov.in

Tender Document - irpmu.railnet.gov.in

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(a) If agreemental value goes beyond (+) 25%, <strong>in</strong> that case, for the first 15%<br />

<strong>in</strong>crease <strong>in</strong> the value of the agreement, the rates shall be reduced by 2% <strong>in</strong><br />

the <strong>in</strong>cremental value.<br />

(b)<br />

(c)<br />

The rate shall be further reduced by 2% for the <strong>in</strong>cremental value of the<br />

agreement, for the next 10% <strong>in</strong>crease <strong>in</strong> the value of the agreement<br />

beyond 15% as <strong>in</strong> (a).<br />

In case agreemental value goes beyond (+) 50%, the rates for <strong>in</strong>cremental<br />

value shall be decided as per prevail<strong>in</strong>g codal provision.<br />

5.0 SECURITY DEPOSIT ON ACCEPTANCE OF TENDER<br />

5.1 The security deposit/rate of recovery/mode of recovery on acceptance of<br />

tender shall be as under:<br />

a) The security deposit for each work will be 5% of the contract value,<br />

b) The rate of recovery will be at the rate of 10% of the bill amount till the<br />

full security deposit is recovered,<br />

c) Security deposits will be recovered only from the runn<strong>in</strong>g bills of the<br />

contract and no other mode of collect<strong>in</strong>g security deposit such as<br />

security deposit <strong>in</strong> the form of <strong>in</strong>struments like BG, FD etc. shall be<br />

accepted towards security deposit.<br />

The total security deposit recoverable from a contractor <strong>in</strong>clud<strong>in</strong>g the amount of<br />

earnest money deposited with the tender as given <strong>in</strong> Clause above will not<br />

exceed the security amount recoverable at the rates mentioned above.<br />

The security deposit unless forfeited <strong>in</strong> whole or <strong>in</strong> part accord<strong>in</strong>g to the terms and<br />

conditions shall be returned to the contractor after the physical completion of the<br />

work as certified by the competent authority. The competent authority shall<br />

normally be the authority who is competent to sign this contract. If the competent<br />

authority is of the rank lower than JA grade, then a JA Grade Officer (concerned<br />

with the work) should issue the certificate. The certificate, <strong>in</strong>ter alia, should<br />

mention that the work has been completed <strong>in</strong> all respects and that all the<br />

contractual obligations have been fulfilled by the contractors and that there is no<br />

due from the contractor to Railways aga<strong>in</strong>st the contract concerned. Before<br />

releas<strong>in</strong>g the SD, an unconditional and unequivocal no claim certificate from the<br />

contractor concerned should be obta<strong>in</strong>ed.<br />

5.2 Performance Guarantee:<br />

OS/Works 14

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