Section 33C(1) in The Rajasthan Minor Mineral Concession Rules, 1986
(1)The bidder/tenderer for the royalty and/or excess royalty collection contract in whose favour contract has been sanctioned by the competent authority, shall submit guarantee for due performance of the contract in the form of Bank Guarantee/Fixed Deposit Receipt of any Nationalized/Scheduled Bank or National Saving Certificate valid for at least 3 years and equal to 15% of annual contract amount in favour of the concerned Mining Engineer/Assistant Mining Engineer before execution of the contract. Guarantee shall be adjusted against Departmental dues of the contractor on expiry or cancellation of the contract, if any, otherwise it shall be refunded to him by the competent authority within 30 days of the completion of the contract.
