Section 79F(1) in Rajasthan Transparency in Public Procurement Rules, 2013
(1)The Project Proponent shall furnish interest-free Earnest Security, as a token of sincerity and good faith, amounting to 0.05% of the total estimated cost of the project through demand draft or bank guarantee, acceptable to the Administrative Department concerned, with a validity period of not less than 180 days commencing from the date of submission of detailed and comprehensive proposal (including claim period of 60 days), to be extended as may be mutually agreed, from time to time. The Bid shall be summarily rejected if the detailed and comprehensive proposal is not accompanied by the Earnest Security.
