The Tenderer may modify or withdraw his Tender after Tender submission, provided

that the written notice of the modification or withdrawal is received by the

Employer prior to the prescribed deadline for submission of Tenders.

The Tenderer’s modification or notice of withdrawal shall be prepared, sealed,

marked as instructed. A withdrawal notice may also be sent by Email or Fax but
followed by a signed confirmation copy, post marked not later than the deadline for
submission of Tenders. No Tender may be modified subsequent to the deadline for
submission of Tenders.

No Tender may be withdrawn in the interval between the deadline for submission of
Tenders and the period of Tender validity specified in the Tender Documents.

Opening of Tenders

The Financial Proposals of the technically qualified tenders will be opened

together with Technical Proposals for further evaluation.

Tender Bond

Each Tenderer shall submit with his tender a Tender Bond in a sum equal to 1% of
total tender Amount issued by an approved local Bank and in the “Form” included
herein. The Tender Bond shall be retained by the Employer as a Bond of good faith
of the Tenderer for the performance of the obligations and commitments undertaken
by the Tenderer. Failure to submit a tender bond as required above will result in
the tender concerned being automatically disqualified.

Tender Bond shall be submitted in a separate sealed envelope marked "Tender Bond"
along with the Tender. Non receipt of the Tender Bond shall invalidate the Tender.

In the case of unsuccessful Tenderers, the Tender Bond will be retained until the
end of the period of validity of the tender or until such earlier time as a tender
for the contract shall have been definitely accepted where after unsuccessful
Tenderers may withdraw their Tender Bond.

In the case of the successful Tenderer the Tender Bond will be automatically
renewed on monthly basis until a contract has been signed and the Performance Bond
has been duly executed.

TENDER BOND - CONFISCATION

The Tender Bond will be confiscated and the monies forfeited if the Tenderer does
not abide by the Tender and Contract Conditions or in the event of the occurrences
of any of such defaults indicated hereunder

ii.) If the Tenderer (during post Tender clarifications) without client’s

approval, has withdrawn his offer, after the latest time specified for its
submission and is before the expiry of its period of validity of the Tender Bond.

iii.) If the Tenderer (during post Tender clarifications) has refused to accept the
correction of errors in his offer in accordance with the ‘Instructions to
Tenderers’ and Tender Documents, or

iv.) If the successful Tenderer Whose Tender is accepted fails to provide the
‘Performance Security Bond’ satisfactorily within the time stipulated within the
contract conditions and/or as formally agreed.

v.) The successful Tenderer fails or refuses to execute and sign the Contract
Agreement within stipulated time as per contract conditions and/or as formally
agreed,

In occurrence of any above event, the full amount of the Tender Bond shall become
payable to the Employer as compensation for such default.

The Contract signature shall take place after Letter of Acceptance and before the
validity of the Tender expires. In case the validity of the Tender expires, it
shall be extended by the successful Tenderer at the request of the Employer

Should the successful Tenderer fail or refuse to enter into Contract with the
Employer within thirty (30) days of the issue of Letter of Acceptance to this
effect by the Employer, the Tenderer shall be considered to have abandoned the
proposal. The employer has the authority due to the failure of signoff the contract
to process the confiscation of the tender bond as stated above

Failure to furnish the Performance Security and to sign the Contract by the
successful Tenderer within the stipulated period may lead to the annulment of the
Contract

Return of the tender Bond

After the contract award and the Performance Security have been satisfactorily
submitted by the successful Tenderer, the Tender Bond will be returned by the
Employer to successful Tenderer.

If the successful Tenderer fails to provide the Performance Security Bond within
the stipulated time, the Tender bond shall be renewed on monthly basis until the
performance bond has been satisfactorily accepted and at such time the Tender bond
will be returned.