Common use of A SECURITY DEPOSIT Clause in Contracts

A SECURITY DEPOSIT. (i) The successful tenderer whose tender is accepted will have to pay towards the Security Deposit (ii) Rs. /- is to be deposited by challen towards the initial Security Deposit which will remain with the ZP till completion of defect liabilities period failing which his ▇▇▇▇▇▇▇ money will be forfeited to Government. (iii) In addition to the above, an amount of Rs. /- will be deducted from the running bills at 2 % of value of the ▇▇▇▇▇ ▇▇▇▇ towards balance security deposit. This is a compulsory deduction.

A SECURITY DEPOSIT. (i) The successful tenderer whose tender is accepted will have to pay towards the Security Deposit (ii) Rs. /- is to be deposited by challen towards the initial Security Deposit which will remain with the ZP till completion of defect liabilities period failing which his earnest money will ▇▇ ▇▇▇▇▇▇▇ money will be forfeited feited to Government. (iii) In addition to the above, an amount of Rs. /- will be deducted from the running bills at 2 % of value of the gross bill towards ▇▇▇▇▇▇▇ ▇▇▇▇ towards balance security ecurity deposit. This is a compulsory deduction.