FORFEITURE OF EMD Sample Clauses
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FORFEITURE OF EMD. The EMD amount of a bidder shall be forfeited in the following events:
2.2.1 If the bidder withdraws or amends its bid or breach of the conditions of the bid document or impairs or derogates from the tender in any respect within the period of validity of the bid.
2.2.2 If the successful bidder fails to enter into a contract with THIS OFFICE within 15 days (or an extended period as approved by the Accepting Authority in THIS OFFICE) from the issue of the purchase order / work order.
2.2.3 If the successful bidder fails to submit the contract Performance Bank Guarantee (PBG) as stipulated in the Terms and Conditions within 30 days (or an extended period as approved by the Accepting Authority in) from the issue of the purchase order / work order.
2.2.4 If the bidder knowingly and wilfully supplied incorrect information in the bid.
2.2.5 In the event of not accepting the conditions of the contract even after agreeing to do so and submitting the letter of Un-conditional acceptance of terms and conditions of the bid document {Annexure-I (a)}.
2.2.6 THIS OFFICE may issue a Letter of Intent (LOI) to the declared L-1 bidder and ask the bidder to accept the LOI unconditionally within the specified time. If the bidder fails to accept the LOI unconditionally, it will be construed that the Bidder is not interested in the offer. In such a situation, THIS OFFICE will encase and forfeit the EMD.
FORFEITURE OF EMD a) If the bidder does not submit the offline tender document without valid reasons after submission of bid on e-tender portal, the EMD so deposited shall not be refunded at all. Further, in case of encountering any technical problems while uploading the bid documents, the bidder should immediately intimate or report to the Bid inviting Executive Engineer (E) for redressal.
b) If any tenderer withdraws his tender before the expiry of the validity period or before the issue of letter of acceptance whichever is earlier or makes any modifications in the terms and conditions of the tender which are not acceptable to the department, then the BSNL shall without prejudice to any other right or remedy, be at liberty to forfeit 50% of ▇▇▇▇▇▇▇ money absolutely.
c) If contractor fails to furnish the prescribed performance guaranty within the prescribed period the amount of EMD will be forfeited without any notice.
d) If only a part of work as shown in the tender is awarded and the contractor does not commence the work, the amount of EMD with reference to estimated amount will be forfeited.
e) In case of forfeiture of EMD as prescribed in a to d above, the tenderer shall not be allowed to participate in the retendering process of the work.
FORFEITURE OF EMD. Bank reserves the rights to cancel the order and forfeit the EMD if,
a. Security Deposit is not submitted within the stipulated time;
b. Agreement is not entered within stipulated time;
c. If the tenderer revokes his tender during the period he is required to keep his tender open for acceptance by the Employer or
d. The tender is accepted by the Employer but the contractor fails to enter into a formal agreement or
e. Fails to commence the work within the stipulated time.
f. If a Bidder makes any statement or encloses any form which turns out to be false / incorrect at any time prior to signing of contract
FORFEITURE OF EMD i. When party fails to commence the supply of the liquid helium & standards as per the supply order within the time prescribed.
ii. When party does not execute the agreement, if any prescribed within the specific time.
FORFEITURE OF EMD. (बयाना जमा क� जबती)
a) The bidder withdraws the bid after opening of Price Bid during the period of validity of offer.
b) The bidder does not accept the correction of error in bid price as indicated in Clause 37 hereinafter.
c) The successful bidder fails within the specifies time limit to:
i) Acknowledge the LOA/Order
ii) Furnish the required Security Deposit
iii) Non-performance of the contract by the Contractor
FORFEITURE OF EMD. The ▇▇▇▇▇▇▇ money deposited (EMD) will be forfeited if the tender withdraw or amends, impairs and derogates from the tender in any respect within thje period of validity of tender or fails to furnish the Proformance Security Deposit.
FORFEITURE OF EMD. The EMD may be forfeited, if:
i. The bidder withdraws the bid after opening during the period of validity.
ii. The bidder does not accept the correction of error in bid price.
iii. The successful bidder fails within the specified time limit to acknowledge the LOA/Order.
iv. The bidder fails to furnish the required Security Deposit.
v. Non-performance of the contract by the Contractor.
vi. If any registered vendor with Fixed EMD withdraws its bid prior to finalisation of the order and during the period of bid validity, the Fixed EMD as deposited by the vendor shall be liable to be forfeited.
FORFEITURE OF EMD. EMD by the Tenderer may be forfeited as per NIT conditions, if:
i) After opening the tender and within the offer validity period, the tenderer revokes his tender or makes any modification in his tender which is not acceptable to BHEL.
ii) The Contractor fails to enter into agreement within fifteen days from the date of award of contract or within extended time if allowed by BHEL.
iii) The Contractor fails to deposit the required Security deposit or fails to commence the work within 20 days from award of contract.
iv) In case it comes to notice of BHEL at any stage during tendering process / contract period that any of the transporter, has given false / suppressed / forged / fake information. If tender process is delayed/disrupted due to an act of bidder/deviations from BHEL terms & conditions etc.
FORFEITURE OF EMD. The EMD will be forfeited to the RCB in case, after submitting the tender, the tenderer withdraws his offer or fails to execute the agreement.
FORFEITURE OF EMD. ▇▇▇▇▇▇▇ Money if applicable shall be forfeited in the following circumstances:
(i) In case the bidder tampers the tender document, alters / modifies / withdraws the bid suo- moto after opening the bids (Technical bids in case of two bid system) within the validity period.
(ii) In case the bidder submits false/fraudulent/fake/ forged documents.
(iii) In case the tender is accepted, and the contractor fails to deposit the ISD/SD or to execute the contract.
(iv) In case of failure of the bidder to get the documents verified as per the specified time schedule in the tender. (Where verification is done through the Original Document Verification process) In (i) and (ii) above the tender submitted by the bidder shall be rejected. In all the above cases suitable action may be taken which may include EMD forfeiture and / or holiday listing action as per the discretion of IOCL. ▇▇▇▇▇▇▇ Money Deposit forfeited for all such bids shall not be by way of penalty or liquidated damages but by way of reimbursement of the pre- estimated costs likely to be incurred by the OWNER towards bidding process and in the scrutiny and evaluation of bids.