Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 134(2)] [Section 134] [Entire Act]

State of Haryana - Subsection

Section 134(2)(a) in Haryana Panchayati Raj Finance, Budget, Accounts, Audit, Taxation and Works Rules, 1996

(a)When a tender has been accepted under the rules an agreement on a form prescribed in sub-para (1) of para 7.3 of manual of orders of the Public Works Department, Building and Roads Branch, Punjab will be entered into between the contractor and the Panchayati Raj Institution concerned. The earnest money deposited by the contractor for the due performance of the contract shall be treated as part of his security which will be deducted from his running bills progressively at the rate of 10 per cent of the amount of work done. In the case of works amounting to more than Rs. 1.00 lac, the security shall be deducted at the rate of 10 per cent for first one lac of payments and thereafter it may be deducted at the reduced rate of 5 per cent. The amount of earnest money received by the Gram Panchayat, Panchayat Samiti or Zila Parishad, as the case may be, Panchayati Raj institution as also the amount deducted from the running bills shall be deposited in the local post office/bank/duly pledged in the name of the Sarpanch, Chairman, Panchayat Samiti, President, Zila Parishad or Executive Engineer concerned.