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[Cites 0, Cited by 0] [Section 75(3)] [Section 75] [Entire Act]

State of Rajasthan - Subsection

Section 75(3)(e) in Rajasthan Transparency in Public Procurement Rules, 2013

(e)Fixed Deposit Receipt (FDR) of a scheduled bank. It shall be in the name of procuring entity on account of bidder and discharged by the bidder in advance. The procuring entity shall ensure before accepting the Fixed Deposit Receipt that the bidder furnishes an undertaking from the bank to make payment/premature payment of the Fixed Deposit Receipt on demand to the procuring entity without requirement of consent of the bidder concerned. In the event of forfeiture of the performance security, the Fixed Deposit shall be forfeited along with interest earned on such Fixed Deposit.