The amount of earnest money to be deposited shall be as specified in Tender notice. In case of the Contractors failing to furnish the required security within the appointed time after the acceptance of his Tender or until the sums due to him form a sufficient guarantee, or fails to execute the work as per the agreement, the earnest money deposit shall be forfeited.
Section 19: Earnest Money Deposit
The Tamilnadu Panchayats (Preparation of plans and estimate for works and mode and conditions of contracts) Rules 1998State Rules of Tamil Nadu · 1994
Where this provision sits
| Act | The Tamilnadu Panchayats (Preparation of plans and estimate for works and mode and conditions of contracts) Rules 1998 |
|---|---|
| Section | 19 |
| Marginal note | Earnest Money Deposit |
| Jurisdiction | State of Tamil Nadu |
| Status | In force as published by the source |
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