Section 40 in Rajasthan Public Procurement Rules, 2012
40. Bid security.
(1)Bid security will not be taken in case of petty procurement valuing upto rupees ten thousand and procurement by the methods of limited bidding valuing upto rupees two lakh, request for quotations, spot purchase, single source procurement and competitive negotiations.(2)In case of open competitive bidding, two-stage bidding, rate contract, electronic reverse auction, bid security would be 2% (in case of SSIs of Rajasthan it will be 0.5% of the quantity offered for supply and in case of sick industries, other than SSIs, whose cases are pending with BIFR it will be 1% of the value of bid) of the estimated value of subject matter of procurement put to bid. Every bidder, if not exempted, participating in the bid process shall be required to furnish the bid security a specified in the notice inviting bids (NIB).(3)Bid security will not be required to be taken from Undertakings, Corporations, Autonomous bodies, Registered Societies, Cooperative Societies which are controlled/managed by Government, Government Undertakings and Companies of Union Government and Government of Rajasthan. However, a Bid Securing Declaration will be taken from them.(4)Receipt of the bid security deposited or a Bid Securing Declaration shall necessarily accompany the sealed bid.(5)Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision will not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, should be taken into consideration in case bids are re-invited.(6)Form of bid security: The bid security may be deposited in the form of cash, a banker's cheque or demand draft or bank guarantee, in prescribed format, of a scheduled bank or cash deposited through treasury challan deposited under head "8443-Civil Deposits".(7)The bidding documents may stipulate that the issuer of the bid security and the confirm, if any, of the b i d security, as well as the form and terms of the bid security, must be acceptable to the procuring entity. In cases of domestic procurement (NCB), the bidding documents may in addition stipulate that the bid security shall be issued by an issuer in India;(8)Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of a proposed issuer of a bid security or of a proposed confirmer, if required; the procuring entity shall respond promptly to such a request;(9)The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy;(10)Refund of Bid security: The bid security of unsuccessful bidders shall be refunded soon after final acceptance of bid and signing of contract.(11)Forfeiture of Bid security: The Bid security taken from a bidder shall be forfeited in the following cases, namely:-(a)when the bidder withdraws or modifies his bid after opening of bids;(b)when the bidder does not execute the agreement, if any, after placement of supply/work order within the validity period of bid;(c)when the bidder fails to commence the supply of the goods or service or execute work as per supply/work order within the time specified;(d)when the bidder does not deposit the performance security deposit after the supply/work order is placed;(e)to adjust any dues against the bidder from any other contract with the procuring entity;(f)if the bidder breaches any provision of code of integrity prescribed for bidders in chapter-VI.(12)In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security Deposit.(13)The procuring entity shall make no claim to the amount of the bid security and shall promptly return, or procure the return of, the security document after the earliest of the following events, namely:-(a)the expiry of the bid security;(b)the entry into force of a procurement contract and the provision of a security for the performance of the contract, if such a security is required by the bidding documents;(c)the cancellation of the procurement;(d)the withdrawal of a submission prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
