Section 33B in The Rajasthan Minor Mineral Concession Rules, 1986
33B. [ Security. [Inserted by Rajasthan Gazette Extraordinary dated 28/01/2011]
(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.(2)Provisionally selected bidder/tenderer may replace the security amount demand drafts/banker's cheque by Fixed Deposit Receipts of any Nationalized/Scheduled bank drawn in favour of the concerned Mining Engineer/Assistant Mining Engineer. Such Fixed Deposit Receipts shall be made from the bank account of the provisionally selected bidder/tenderer and valid for a period of at least 2 years, before the execution of the contract. In such case the earnest money shall be adjusted against monthly/quarterly installments of the contract as the case may be.(3)The security shall be refunded by the competent authority, within 30 days of the completion of the contract, if the contract is completed without any lapse on part of the contractor.(4)The security deposited for mining lease shall be in accordance with rule 14 of these rules.(5)The contractor shall pay difference amount of security in proportion to the enhancement of contract amount due to change in rate of royalty or increase in permit fee /other charges.
