Section 10 in Gujarat Minor Mineral Concession Rules, 2017
10. Performance security for quarry lease.
(1)The successful bidder shall provide a performance security equivalent to an amount of one per cent of the value of estimated resources in case of minerals specified in Part A-II or Part B of Schedule III and the performance security shall be adjusted every five years so that it continues to correspond to one per cent of the reassessed value of estimated resources.(2)The successful bidder shall provide a performance security of the amount specified in rule 577 in case of minerals specified in Part A-I of Schedule III.(3)The performance security provided may be appropriated as per the provisions of these rules, the tender document and the quarry lease deed.
