Section 5(10) in The Paradip Port Trust (Distraint or Arrest and Sale of Vessels) Regulations, 1988
(10)The successful tenderer shall pay 25% of the bid amount within five days from the date of acceptance of the tender and the balance amount within 15 days from the date. In addition to the tender value the successful tenderers will also deposit such money/bank guarantee for a value as determined by the Deputy Conservator as security deposit which will be returned within a period of 3 months after successful completion. However, no interest shall be paid by the Port on the deposit so made.
