In exercise of the powers conferred by section 55
of the Rajasthan Transparency in Public Procurement Act, 2012 (Act No. 21 of
2012), the State Government hereby makes the following rules further to amend
the Rajasthan Transparency in Public Procurement Rules, 2013, namely:- (1) These rules may be
called the Rajasthan Transparency in Public Procurement (Fourth Amendment)
Rules, 2021. (2) They shall come into
force from the date of their publication in the Official Gazette. After
the existing rule 75 and before the existing rule 76 of the Rajasthan
Transparency in Public Procurement Rules, 2013, the following new rule 75A
shall be inserted, namely:- 75A. Additional Performance Security.- "(1) In addition to Performance Security
as specified in rule 75, an Additional Performance Security shall also be taken
from the successful bidder in case of unbalanced bid. The Additional
Performance Security shall be equal to fifty percent of Unbalanced Bid Amount.
The Additional Performance Security shall be deposited in lump sum by the
successful bidder before execution of Agreement. The Additional Performance
Security shall be deposited through e-Grass, Demand Draft, Banker's Cheque,
Government Securities or Bank Guarantee. Explanation
: For the purpose of this rule,- (i) Unbalanced Bid means
any bid below more than fifteen percent of Estimated Bid Value. (ii) Estimated Bid Value
means value of subject matter of procurement mention in bidding documents by
the Procuring Entity. (iii) Unbalanced Bid Amount
means positive difference of eighty five percent of Estimated Bid Value minus
Bid Amount Quoted by the bidder. (2) The
Additional Performance Security shall be refunded to the contractor after
satisfactory completion of the entire work. The Additional Performance Security
shall be forfeited by the Procuring Entity when work is not completed within
stipulated period by the contractor. Provision for 'Unbalanced Bid' and
'Additional Performance Security' shall be mentioned in the Bidding Documents
by the Procuring Entity."RAJASTHAN
TRANSPARENCY IN PUBLIC PROCUREMENT (FOURTH AMENDMENT) RULES, 2021
PREAMBLE