Section 75 in Rajasthan Transparency in Public Procurement Rules, 2013
75. Performance security.
- [(1) Performance security shall be solicited from all successful bidders except the,-(i)Departments/Boards of the State Government or Central Government;(ii)Government Companies as defined in clause (45) of Sec. 2 of the Companies Act, 2013;(iii)company owned or controlled, directly or indirectly, by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments which is subject to audit by the Auditor appointed by the Comptroller and Auditor-General of India under sub-section (5) or (7) of Sec. 139 of the Companies Act, 2013; or(iv)Autonomous bodies, Registered Societies, Cooperative Societies which are owned or controlled- or managed by the State Government or Central Government.However, a performance security declaration shall be taken from them. The State Government may relax the provision of performance security in a particular procurement or any class of procurement.] [Substituted by Notification No. S.O. 119, dated 6.8.2018 (w.e.f. 24.1.2013).](2)The amount of performance security shall be five percent, or as may be specified in the bidding documents, of the amount of supply order in case of procurement of goods and services and ten percent of the amount of work order in case of procurement of works. In case of Small Scale Industries of Rajasthan it shall be one percent of the amount of quantity ordered for supply of goods and in case of sick industries, other than Small Scale Industries, whose cases are pending before the Board of Industrial and Financial Reconstruction (BIFR), it shall be two percent of the amount of supply order.(3)Performance security shall be furnished in any one of the following forms-(a)deposit though eGRAS;(b)Bank Draft or Banker's Cheque of a scheduled bank;(c)National Savings Certificates and any other script/instrument under National Savings Schemes for promotion of small savings issued by a Post Office in Rajasthan, if the same can be pledged under the relevant rules. They shall be accepted at their surrender value at the time of bid and formally transferred in the name of procuring entity with the approval of Head Post Master;(d)Bank guarantee/s of a scheduled bank. It shall be got verified from the issuing bank. Other conditions regarding bank guarantee shall be same as mentioned in the rule 42 for bid security;(e)Fixed Deposit Receipt (FDR) of a scheduled bank. It shall be in the name of procuring entity on account of bidder and discharged by the bidder in advance. The procuring entity shall ensure before accepting the Fixed Deposit Receipt that the bidder furnishes an undertaking from the bank to make payment/premature payment of the Fixed Deposit Receipt on demand to the procuring entity without requirement of consent of the bidder concerned. In the event of forfeiture of the performance security, the Fixed Deposit shall be forfeited along with interest earned on such Fixed Deposit.(f)[ In case of procurement of works, the successful bidder at the time of signing of the contract agreement, may submit option for deduction of performance security from his each running and final bill @ 10% of the amount of the bill.] [Added by Notification No.F.1(8)FD/GF&AR/2011 dated 4.9.2013, publised in Rajasthan Gazetted EO Pt.4(Ga)(I) dated 4.9.2013](4)Performance security furnished in the form specified in clause (b) to (e) of sub-rule (3) shall remain valid for a period of sixty days beyond the date of completion of all contractual obligations of the bidder, including warranty obligations and maintenance and defect liability period.
