(1) Bid related documents and procurement contracts may be submitted to suppliers, builders, service providers or consultants as provided in these rules and the bid related documents.
(2) The local body shall not give more than twenty percent of the purchase contract amount as per sub-rule (1).
(3) When making a submission according to sub-rule (1), the submission shall be made by taking a bond bond issued by the commercial association in such a way that the supplier, builder, service provider or consultant shall collect such advance amount from the supplier, and if he does not work according to the agreement, he shall pay the said entity as soon as the body requests it.
(4) The valid period of the security deposit as per sub-rule (3) should be at least one month longer than the period for which the advance mentioned in the purchase agreement should be withdrawn.
(5) As stated in sub-rule (1) of advance payment, after payment of thirty percent, every bill or other bill shall be deducted from the invoice at the rate of two times the advance percentage and until eighty percent of the contract amount is paid, the entire advance shall be deferred. .
(6) If the supplier, builder, service provider or consultant has not performed the work as per the purchase agreement within the time period mentioned in such agreement, if the submission as per this rule cannot be delayed, the local body shall receive the amount of security deposit as per sub-rule (3) from the relevant district and delay the submission from him. One hundred and ten percent interest of the advance amount should also be charged.
(7) When a local body withdraws the goods through a bill of lading, it shall withdraw the advance amount within thirty days from the date of receipt of the goods at its office.
(8) In case of non-availability of the goods from the supplier concerned or if the goods cannot be received within the stipulated time for providing the goods, generally the promissory note should be canceled and for that reason the amount deposited in the bank should be withdrawn and the advance amount for opening the promissory note should be withdrawn.