MAINTENANCE OF FIRE FIGHTING FACILITIES AT PANIPAT TOP

The successful tenderer (hereinafter referred to as “The Agency”) would be required to deposit a security amount of 5 % of the total contract value (Refundable) in the form of Demand Draft favouring Bharat Petroleum Corporation Limited payable at PANIPAT . The said security amount shall be retained by the Corporation for a minimum period of SIX months after termination of the contract. The Corporation reserves its rights to deduct appropriate amount from the security deposit in lieu of unpaid dues payable to the Corporation by the Agency or unpaid dues towards any statutory compliance or amounts payable by the Agency to any of its contract labour(s) for the period of their engagement at the establishment of the Corporation by the Agency. In case of pendency of any dispute related to such non-payment / less payment of wages or non-compliance of statutory obligations by the Agency which may possibly result into financial liabilities for the Corporation, the Corporation reserves its right to withhold such security deposit for a period beyond six months after termination of the contract. The said security amount shall be refunded to the Agency subject to production of proof of compliance of all statutory provisions in the form of a certificate of No Objection from the concerned Labour Authorities.