Section 14
To Take Guarantee Or Deposit
14. To take guarantee or deposit:
(1) In making arrangement of contract of any amount in installment, the arrangement of contract shall be made only after taking a deposit as follows from the person undertaking to take the contract:
(a) In the event of the person undertaking the contract being a citizen of Nepal, by taking a guarantee of immovable property within …………..Nepal or national bond or a deposit in cash rupees in a sum that is equal to one portion of four portions of the total rupees of contract required to be paid by him or her.
(b) In the event of the person undertaking the contract being a non-Nepalese citizen, by taking a guarantee of immovable property within …………..Nepal or national bond or a deposit in cash rupees in a sum that is equal to one portion of three portions of the total rupees of contract required to be paid by him or her.
(2) In making arrangement of contract of any other governmental work except an amount, the terms agreed upon between the Government of Nepal and the contract in relation to the taking and furnishing of guarantee shall apply.
(3) In valuating any immovable property for the purposes of this Section, the valuation of that property shall be made as per the , by the tax office and by setting the
reasonable price thereof through the Village Development Committee or Municipality where such valuation has not been made. Provided that if the employee taking the guarantee is of the opinion that the valuation so made is not correct, the employee may ask for additional guarantee by executing a memorandum along with the reason for the same.
(4) In taking guarantee from any governmental employee in relation to any contract to be arranged on behalf of the Government of Nepal, the guarantee shall not be so taken as to deduct the money of remuneration received by the employee from the Government of Nepal.
(1) In making arrangement of contract of any amount in installment, the arrangement of contract shall be made only after taking a deposit as follows from the person undertaking to take the contract:
(a) In the event of the person undertaking the contract being a citizen of Nepal, by taking a guarantee of immovable property within …………..Nepal or national bond or a deposit in cash rupees in a sum that is equal to one portion of four portions of the total rupees of contract required to be paid by him or her.
(b) In the event of the person undertaking the contract being a non-Nepalese citizen, by taking a guarantee of immovable property within …………..Nepal or national bond or a deposit in cash rupees in a sum that is equal to one portion of three portions of the total rupees of contract required to be paid by him or her.
(2) In making arrangement of contract of any other governmental work except an amount, the terms agreed upon between the Government of Nepal and the contract in relation to the taking and furnishing of guarantee shall apply.
(3) In valuating any immovable property for the purposes of this Section, the valuation of that property shall be made as per the , by the tax office and by setting the
reasonable price thereof through the Village Development Committee or Municipality where such valuation has not been made. Provided that if the employee taking the guarantee is of the opinion that the valuation so made is not correct, the employee may ask for additional guarantee by executing a memorandum along with the reason for the same.
(4) In taking guarantee from any governmental employee in relation to any contract to be arranged on behalf of the Government of Nepal, the guarantee shall not be so taken as to deduct the money of remuneration received by the employee from the Government of Nepal.