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CENTRAL INSTITUTE OF TECHNOLOGY ... - CIT, Kokrajhar...

CENTRAL INSTITUTE OF TECHNOLOGY ... - CIT, Kokrajhar...

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4. Previous Transgression4.1 The BIDDER declares that no previous transgression occurred in the last three years -immediately before signing of this Integrity Pact, with any other company in any countryin respect of any corrupt practices envisaged herein or with any Public Sector Enterprisein India or any Government Department in India that could justify BIDDERs' exclusionfrom the tender process.4.2 The BIDDER agrees that if it makes incorrect statement on this subject, BIDDER canbe disqualified from the tender process or the contract, if already awarded, can beterminated for such reason.5. Earnest Money Deposit5.1 While submitting Financial Bid, the BIDDER shall deposit an amount Rs.25,000.00as Earnest Money Deposit with the BUYER through any of the following instruments:i. Bank Draft or a Pay Order in favour of the BUYER payable at locationof/specified by the BUYER.ii. A confirmed guarantee by an Indian Nationalized Bank, promising payment ofthe guaranteed sum to the BUYER, on demand within three working days withoutany demur whatsoever and without seeking any reasons whatsoever. The demandfor payment by the BUYER shall be treated as conclusive proof for payment.5.2. The Earnest Money Deposit shall be valid up to a period of five years or thecomplete conclusion of contractual obligations to complete satisfaction of both theBIDDER and the BUYER, including warranty period, whichever is later.5.3 In the case of successful BIDDER a clause would also be incorporated in the Articlepertaining to Performance Bond in the Purchase Contract that the provisions of Sanctionsfor Violation shall be applicable for forfeiture of Performance Bond in case of a decisionby the BUYER to forfeit the same without assigning any reason for imposing sanction forviolation of this pact.5.4 No interest shall be payable by the BUYER to the BIDDER(s) on Earnest MoneyDeposit for the period of its currency.6. Sanctions for ViolationAny breach of the aforesaid provisions by the BIDDER or any one employed by him or acting onhis behalf (whether with or without the knowledge of the BIDDER) shall entitle the BUYER totake all or any one of the following action, wherever required:-(i) To immediately call off the pre-contract negotiations without assigning any reason orgiving any compensation to the BIDDER. However the proceedings with the otherBIDDER(s) would continue.29

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