TENDER FOR PROCUREMENT OF PLC BASED (2+2) AUTO PURGING UNIT AT BIKANER LPG PLANT

RETENTION MONEY The Corporation will be entitled to deduct 10% value of all interim/running bills and in final bills as Retention Money for all jobs exceeding 100000/- and no interest will be paid on money retained by the company. The said retention money will be retained for a period of six month and paid to the Contractor after adjusting any dues of the Corporation against the Contractor under the workmanship/materials provided to the Contractor and /or against any other claims for any reason whatsoever under the Agreement which may arise within the said period of the six month. The retention period of six month will commence from the date of the final bill or the date of completion of the job (as reckoned by BPCL) which ever is earlier. Security Deposit : Security Deposit equivalent to 3% of Total basic amount of tender (Subject to minimum of Rs. 5000 and maximum of Rs. 1Lac) needs to be given before starting of job as SD in form of DD/BG which will beheld with BPCL till one year post successful commissioning of Job.