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State of Odisha - Section
Section 12 in Soil Explorator's and Testing Laboratory's Registration Rules, 2001
12.
Any Sub-soil Explorator/Testing Laboratory who furnishes fixed security deposit of Rs.5.00 lakhs in shape of Post Office Savings Bank Account/N.S.C./K.V.P./Post Office Time Deposit Account, will be exempted from deposit of earnest money at the time of tender and initial security deposit at the time of award of work. The fixed deposit should be pledged and lodged with the Engineer-in-Chief (Civil), R. & B., Orissa. The earnest money deposit and initial security deposit in all other cases be made in Post Office Savings Bank Account/N.S.C./K.V.P./Post Office Time Deposit Account duly pledged to the competent authority to accept the tender.Any Officer competent to forfeit the security money may order for forfeiture of the same either in full or in part where upon the Registering Authority on receipt of such information forfeit the same, and pass on the credit to the concerned Office. Simultaneously the fact of such forfeiture shall be communicated to all concerned Divisions, Circles, Offices and a call of the like amount shall be made upon the concerned Sub-soil Explorator/Testing Laboratory. After the Sub-soil Explorator/Testing Laboratory has replenished the fixed deposit, all concerned Divisions/Circles Offices shall be informed about the fact without delay.The Sub-soil Explorator/Testing Laboratory who have made fixed deposit will not be required to pay any earnest money or initial security deposits but deduction at the rate of 5 per cent of the gross amount of each bill will be effected from their bills.Such Sub-soil Explorator/Testing Laboratory who have no fixed deposit with Government should pay 1 per cent as earnest money at the time of submitting tender and 1 per cent as initial security at the time of acceptance of tender. In addition deduction of at the rate of 5 per cent of the gross amount of each bill will be effected from their bills. Thus the total security deposit from the Sub-soil Explorator/Testing Laboratory having no fixed deposits will be 7%.The percentage of earnest money deposit should be calculated on the estimated cost of the work and the initial security will be of such amount as would together with the money make 2 per cent of the work as per the accepted tender. Should the actual cost as per the accepted tender the amount to be recovered from the bills of the contractor will be such as to made together with the deposits already realised an amount equal to the prescribed percentage on the actual cost of the work executed.Security deposit of the contractors for each work will be refunded in accordance with the following procedure regard being had to the provision of rule 279 of the Orissa General Financial Rule, Volume-1 :-| (i) | In case of Sub-Soil Exploratory | .. | Full refund is to be made 3 months after the date ofcompletion provided final bill has been paid and defect/errors ifany rectified. |
| (ii) | Testing Laboratory | .. | Full refund is to be made after 4 months from the date ofcompletion provided final bill has been paid and defect/errors ifany rectified. |