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Security Deposit and Earnest Money: Amendment in PWD Code

Published in Public Works. Tags: , .

Government of West Bengal
Public Works Department
(Accounts Branch)

No. 24-A/2D-13/2010 Dated: 31.01.2014

NOTIFICATION

In conformation with the existing policy of the enforcement, e-tendering has been introduced to promote transparency and equity in the bidding process.

Now after careful consideration of the entire matter Governor is pleased to make the following amendment in the Public Works Department Code, as subsequently amended (herein after referred to as the said code):-

AMENDMENT

Rule of PWD Code Amendment
“230(2) – in cases of open tender for works valued above Rs. 62.5 Lakh or for sections thereof, where enlisted (a) class – I contractors, or (b) class – II contractors, or (c) class – III and Class – IV contractors forming a combination of the appropriate number or (d) outside contractors are eligible to participate, such contractors, if they so like, may each deposit with this Department a fixed permanent security amounting Rs. 12.5 Lakh. This will entitle such depositors to submit open tenders under this department without having to deposit earnest money along with each individual tender as before” “Deleted”
“230(4) – in cases of the works in the open tenders costing more than Rs. 1 Lakh or any component part thereof, an earnest money amounting to 2 percent of the estimated value of the work for which tender has been called for, shall have to be deposited by those tenderers who have not deposited the fixed permanent security under sub-rule (2).” “230(4) – in cases of the works in the open tenders costing more than Rs. 62.50 Lakh an earnest money amounting to 2 percent of the estimated value of the work for which tender has been called for, shall have to be deposited by all intending tenderers.”

This order issues with the concurrence of Finance (Audit) Department U.O. No. 1571 Gr-‘T’ dated 30.01.2014.

This order will take immediate effect.

Sd/- Indevar Pandey
Principal Secretary to the
Government of West Bengal

No. 24-A dated 31.01.2014, Source

GOVERNMENT OF WEST BENGAL
Public Works Department
(Accounts Branch)

No. 46-A/PW/0/2D-13/10 Dated: 12.02.2014

NOTIFICATION

In partial modification of Notification No. 24-A/2D-13/2010, following clause may be included in the amendment column:

1) “Contractor intending to participate in the bid for works value exceeding Rs 25.00 Crore may also furnish Bank guarantee issued by any Public Sector Bank of requisite amount in favour of the Executive Engineer concerned towards earnest money deposit.”

By Order of the Hon’ble Governor

Sd/- Indevar Pandey
Pr. Secretary, PWD

No. 46-A/PW dated 12.02.2014