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[Cites 0, Cited by 0] [Section 72(3)] [Section 72] [Entire Act]

State of Rajasthan - Subsection

Section 72(3)(f) in Rajasthan Public Procurement Rules, 2012

(f)Fixed Deposit Receipt: The Fixed Deposit Receipt (FDR) shall be of a Scheduled Bank, it should be in the name of procuring entity bearing contents "Received from .................. Department ..................... on account of M/s .................. ( Name of bidder)" and discharged by the bidder. 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 security on demand to the procuring authority without requirement of consent of the bidder concerned. In the event of forfeiture of the FDR, the FDR will be forfeited along with interest earned on the FDR.