Section 7(3) in The Chhattisgarh Municipalities (The Conduct of Business of the Mayor-In-Council/President-In-Council and the Powers and Functions of the Authorities) Rules, 1998
(3)The Commissioner or the Chief Municipal Officers, as the case may be, may require sufficient security for the performance of any contract :Provided that the amount of such security shall not be less than five per cent of the estimated cost of work or the estimated value of the material of the goods.
