Section 42 in Rajasthan Transparency in Public Procurement Rules, 2013
42. Bid security.
(1)Bid security shall not be taken in case of petty procurement valuing up to rupees ten thousand and procurement by the methods of limited bidding under clause (b) and (c) of sub-section (1) of section 30, 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 shall be 2% or as specified by the State Government of the estimated value of subject matter of procurement put to bid. In case of Small Scale Industries of Rajasthan it shall be 0.5% of the quantity offered for supply and in case of sick industries, other than Small Scale Industries, whose cases are pending with Board of Industrial and Financial Reconstruction, it shall be 1% of the value of bid. Concessional bid security may be taken from registered bidders as specified by the State Government. Every bidder, if not exempted, participating in the procurement process shall be required to furnish the bid security as specified in the notice inviting bids.(3)[ In lieu of bid security, a bid securing declaration shall be taken from the,-(i)Departments/Boards of the State Government or Central Government:(ii)Government Companies as defined in clause (45) of Sec. 2 of the Companies Act, 2013;(iii)company owned or controlled, directly or indirectly, by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments which is subject to audit by the Auditor appointed by the Comptroller and Auditor-General of India under sub-section (5) or (7) of Section 139 of the Camp attics Act, 2013; or(iv)Autonomous bodies, Registered Societies, Cooperative Societies which are owned or controlled or managed by the State Government or Central Government.](4)Bid security instrument or cash receipt of bid security 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 shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.(6)The bid security may be given in the form of cash, a banker's cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposit through EGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.(7)The bidding documents may stipulate that the issuer of the bid security and the confirm, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity. In cases of International Competitive Bidding, 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 proposed issuer of a bid security or of a proposed con firmer, 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 con firmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the con-firmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.(10)The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.(11)The Bid security taken from a bidder shall be forfeited in the following cases, namely:-(a)when the bidder withdraws or modifies its bid after opening of bids;(b)when the bidder does not execute the agreement, if any, after placement of supply/work order within the specified period;(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 within specified period after the supply/work order is placed; and(e)if the bidder breaches any provision of code of integrity prescribed for bidders specified in the Act and Chapter VI of these rules.(12)In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.(13)The procuring entity shall promptly return the bid security after the earliest of the following events, namely :-(a)the expiry of validity of bid security;(b)the execution of agreement for procurement and performance security is furnished by the successful bidder;(c)the cancellation of the procurement process; or(d)the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
