Depositing Earnest Money by Labour Co-Operative Societies
Finance, Earnest Money , Security Deposit 👁️ 166
The Labour Co-operative Societies shall continue to get exemption from depositing Earnest Money while participating in Government tenders.Government of West Bengal
Finance Department
Audit Branch (Group -T)
E-229334
No. 815-F(Y) Date: 23rd February, 2023
MEMORANDUM
Finance Department has received numerous references for clarifying whether the provisions regarding exemption of the Labour Co-operative Societies from depositing Earnest Money against Government tenders, in terms of Note 3(v) under Rule 32 of the West Bengal Financial Rules, Volume-I read with FD Memo No. 6204-F(Y) dated 17.08.2015 and 6718-F(Y) dated 08.09.2015, are still valid.
Now, after detailed deliberation on the issue, it is again clarified that as the said rule has since not been modified or revoked, the Labour Co-operative Societies shall continue to get exemption from depositing Earnest Money while participating in Government tenders.
However, the Labour Co-operative Societies, if selected through tender, will have to furnish requisite Security Deposit for performance of the work.
Special Secretary to the
Government of West Bengal