PPRA Rules Query

Client Query 080:- Hi, Wanted to discuss that we had received the purchase order against the clause of 42b after depositing the 5% security deposit of total value of purchase order. Therefore, after completing the delivery, should we request for the refund of security deposit from the concern department? Or is there any clause of PPRA for holding the security money for any reason by concern department. Your explicit reply in this regard would be highly appreciated. Thanks

 

Adeel Ahmed, Spain

 

Answer:- Thank you for writing to us. As per your query the answer to it is this that the bid security is required under Rule 25 of Public Procurement Rules, 2004. However, the terms and conditions for release of bid security set forth in the bidding document are required to be followed by the Procuring Agency. Hope this answers your query!

If you wish to inquire anything else you may set up an appointment with our extremely competent team of lawyers and visit our office which is located at GF-13, Tower A, The Centaurus, Islamabad, Pakistan.

You can also reach us at 0092-300-5075993

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