Additional Performance Security when the bid rate is 80% or less of the Estimate put to tender and no increase in scope of work of projects during execution phase.
Procedure for Transfer of EMD received online through the e-tender portal to the Security Deposit Head of Account maintained at the Treasury/PAO.
For repair and maintenance nature of bituminous road work or combination thereof the Defect Liability period should be considered as one year.
In respect of EMD/SD money, refund will be drawn on sanction of respective Departmental Officer in whose favour amount has been deposited through GRIPS portal.
Performance security: 5 percent after lapse of the test performance period/ Defect Liability Period to be fixed by the competent authority of the Department concerned.