Section 30 in The Punjab Minor Mineral Concession Rules, 1964
30. Period of contract.
(1)Each contract will ordinarily be auctioned for a period of three years unless the period is specifically stated. The successful bidder will be informed of the auction in his favour.(2)The auction shall be notified -(i)on the notice board of Directors, Mining Officers and at least in one newspaper having wide circulation in the locality nearest to the area in question, in the original language;(ii)in the Punjab Government Gazette by publishing the auction notice at least 30 days before the date of auction and it shall mention the terms and conditions of the auction of the contract. A copy of the auction notice shall be sent to the local authority having jurisdiction over the area in question for giving wide publicity in the area;(iii)the terms and conditions and description of the contract shall be read out to the intending bidders at the time of auction. The intending bidders shall deposit such earnest money as may be fixed by the Director. In each case such amount shall be notified in the Government Gazette;(iv)no bid shall be regarded as accepted unless confirmed by Government. On completion of the auction the result will be announced and provisional selected bidder shall immediately deposit 25 per cent amount of bid for one year and another 25 per cent as security for due observance of the terms and conditions of the contract;(v)the earnest money shall be refunded immediately at the completion of the auction to all excepting the person whose bid is provisionally accepted. The earnest money shall be adjusted against the security under clause (iv);(vi)misbehaviour by bidder during auction can be punished by forfeiting his earnest money or removal or if necessary, by debarring him for a period of three years from any future auction under these rules, at the discretion of the Presiding Officer.(vii)[ In case the bid is not accepted by the Government or the execution of the agreement does not take place by one reason or the other, without any fault on the part of the bidder, the security and the amount of the bid by the contractor shall be refunded to him by the concerned Mining Officer; [See Legislative Supplement Part III, dated 14.9.1977.](viii)After the expiry of the term of the contract where the authority which has signed the agreement is satisfied that the contractor has fulfilled all the terms of the agreement, it shall refund the amount of the security to the contractor in case the same does not exceed five hundred rupees and if the same so exceeds the matter shall be referred to the Government for decision].
