Section 27 in Telangana Infrastructure Development Enabling Act, 2001
27. Bid security.
(1)The Bidder will be required to submit a bid security along with the proposal for undertaking the Infrastructure Project, the bid security amount will be determined based on the Project cost by the Government Agency or the Local Authority.(2)The procedure for refund of bid security will be specified in the request for proposal. In any event, the bid security of unsuccessful Bidder would be returned within 30 calender days from the date of selection of the Developer.CHAPTER - IV Generic Risks Disclosure and Allocation, Securitisation, Right of Lenders and Facilities to be Provided by the Government Agency or the Local Authority.
