Section 14(5) in Andhra Pradesh Excise (Lease of right of selling by shop and conditions of licenses) Rules, 2005
(5)The tenderer at the time of auction shall be required to furnish as earnest money a sum equal to [5%] [Substituted '10%' as per G.O.Ms.No.598, Rev(Ex-II), dated 26.5.2006.] of the upset price fixed and notified by the auctioning authority for each shop notified for auction, in the form of Demand Draft(s) obtained from a scheduled bank in favour of auctioning authority or in favour of Commissioner of Proh & Excise, before opening the tender. If, the tenderer does not furnish earnest money such tender shall be forthwith rejected by the auctioning authority before opening the sealed tenders offered for that shop.
