Section 42(9) in Rajasthan Transparency in Public Procurement Rules, 2013
(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.
