Section 33B(1) in The Rajasthan Minor Mineral Concession Rules, 1986
(1)The Security deposit for the royalty and/or excess royalty collection contracts shall be 10% of the bid/tender amount. The earnest money deposited by the provisionally selected bidder/tenderer shall be automatically converted into security amount of the contract on provisional selection of the bidder/tenderer.Provided that the excess amount of earnest money over and above 10% of the annual bid/tender amount, if any, shall be adjusted in the monthly/quarterly installments as the case may be.
