Tenders will be rejected as
non-responsive.”
Clause 2.22 speaks of “Performance Security” as follows:-
“PERFORMANCE SECURITY in case of offer
below the cost ... sought by contractor Clarification sought by
the Department
46 2.22 Performance 2.22 Performance Security: The clause of performance
Security
mandates
that the employer shall not make a claim under the Performance Security,
except for the amounts which the employer is entitled ... next contended that Clause 4.2 of the GCC prohibits invocation
of performance security except when the following events occur:
(a) failure of the petitioner
noticed. Sub-Clause 4.2 of the Agreement deals with the
„Performance Security‟, the relevant extract of which is as under:
O.M.P. (I)(COMM ... Performance Certificate by the date 28 days prior to the expiry
date, the Contractor shall extend the validity of the
Performance Security until the Works
Security Deposit/Retention and Release of
Performance Security and Security
Deposit/Retention.
43.1 The Engineer shall retain security deposit of
5% of the amount from ... deposit/Retention and release of performance security and
security Deposit/Retention Clause 43.4 besides stipulating that the
performance security equal to the five percent
than the value of the Performance
Security/Performance bond, ONGC in addition to
forfeiting the performance security/performance bond,
reserves the right to claim ... than the
value of the Performance Security/Performance bond,
ONGC in addition to forfeiting the performance
security/performance bond, reserves the right to
claim
months from the date of this LoA.
(B) PERFORMANCE GURANTEE: Please arrange to submit performance
security in the form of Bank Guarantee for an amount ... mentions about the performance bank guarantee which shall
remain valid up to 30.06.2009 to cover duration of contract and the performance security
shall be payable
read as follows:-
"G. Clause 2.2 Performance Security:
The Consultant shall provide security for his performance of
the contract to the Employer within ... under Clause 2.9.1, ESIC
could not have enchased the performance bank guarantee towards
performance security.
OMP (COMM) Nos. 59/2016 & 79/2016 Page
Only if the performance bank guarantee was validly
given, and which was towards performance of the contract, then the subject
performance bank guarantee could have ... performance bank guarantee because the
performance bank guarantee requires for its encashment default by the
petitioner/ contractor of faithful performance of the obligations under
stipulated that if the price bid was below the
minimum price, performance security through a bank guarantee or
::: Uploaded on - 23/09/2019 ::: Downloaded ... have any column or facility for submitting
online the performance security, as prescribed in the G.R., and,
therefore, the online tender form was submitted
performance
obligations including any Warranty obligations under the
Contract".
15. DELAYS IN THE SUPPLIER'S PERFORMANCE
15.1 Delivery of the Goods and performance ... performance of its delivery
obligations shall render the Supplier liable to any or all of the
following sanctions, forfeiture of its performance security
