Section 76 in Rajasthan Transparency in Public Procurement Rules, 2013
76. Execution of agreement.
(1)A procurement contract shall come into force from the date on which the letter of acceptance or letter of intent is despatched to the bidder.(2)The successful bidder shall sign the procurement contract within a period specified in the bidding document or where the period is not specified in the bidding document then within fifteen days from the date on which the letter of acceptance or letter of intent is despatched to the successful bidder.(3)If the bidder, whose bid has been accepted, fails to sign a written procurement contract or fails to furnish the required performance security with in specified period, the procuring entity shall take action against the successful bidder as per the provisions of the Act and these rules. The procuring entity may, in such case, cancel the procurement process or if it deems fit, offer for acceptance the rates of lowest or most advantageous bidder to the next lowest or most advantageous bidder, in accordance with the criteria and procedures set out in the bidding documents.(4)The bidder shall be asked to execute the agreement on a nonjudicial stamp of specified value at its cost.
