Common use of FORFEITURE OF EMD Clause in Contracts

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. 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.