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Security Deposit

Security deposit is deducted from the contractor’s bill at the rate of ten percent of the final bill value which is later on released after the defect liability period is over.

Releasing Security Deposit after Completion of Work

Public Works,

Security Deposit will be released after issuance of Completion Certificate on submission of unconditional BANK GUARANTEE by the Contractor for the Security Deposit.

Release of Payment to Executing Agency by Administrative Dte

Finance,

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.
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