(1) Eamnest money required to accompany Form no. W-%. The contract hall not be returned until the expiry of six ion of the work or the close of the rainy f the contract whichever is later.
the tender shall be as [Famestmoney:
under :
Amount Amount of tender of earnest money = Rs.
(1) Not exceeding Rs 2,000 .. - .. . 50 .
(2) Exceeding Rs. 2,000 but not exceeding Rs. 5,000 .. - 100 3) Excesding Rs. 5,000 but not exceeding Rs.
10,000 .. 200
(4) For each additional Rs. 5,000 or a part thereaf .. 100 of tenderers whose tenders are not finally. accepted :
(2) Eamest moncy shall be refunded to them as early as possible.
le to forfeiture if the contractor fails t assigning suitable reasons fails to e fixed by the authority inviting tance of tender.
(3) The carncst m oncy shall be liab] to deposit the sccur ity moncy or witho u execute the contrac t deed within the tim!
tenders which shall no rmally by a week from the date of accep
95. A Parishad or a Ks hetira Samiti may, where it deems fit, entrust the Execution -of axecution of a work costing mot more t han Rs.10,000 to a Gaon Panchaya t “,‘\":J‘“(':obfkr -onstituted under the U . P. Panchayat Raj Act , 1947 (Act mo. XXVI of 1947) fsmddin within the territorial jun'sdicu'on of which the work may be located or Lo certain casss.
a labour Co-operati on of which the work Co-operati ve or the local branch +f the Bharat Samaj . In such casés the G aon Panchayat, “the Labour Cosperative or the-lo cal branch of the Bharat Sewak Samaj . In such cases the at, the labour co-ope rative or the ‘local Bh arat Sewak Samaj as - Gaon Panchay:
; .
he case may be, will be exempt from the payme nt of earnest mon cy or security money. X : )