GEM CAUTION MONEY PROCESS
Channel: BHAGAT TECHNO IT SOLUTION
Date: 2020-11-17

In terms of GeM GTC Clause 27, : All sellers on GeM are required to
deposit a one-time amount as under as caution money:
a) Seller Turnover less than 1 Crore: Rs 5,000/-
b) Seller Turn over more than 1 Crore but less than 10 Crore: Rs 10,000/-
c) Seller Turn over more than 10 Crore: Rs 25,000/-


The above caution money shall remain at the disposal of GeM SPV.
This can be forfeited in part or in full (as per approval of CEO (GeM)) in
following circumstances:
a) Seller rejects or does not accept any Direct Purchase / L-1
Purchase order within defined timelines leading to order auto
cancellation.
b) Failure of the seller in executing any GeM contract or if the
Seller fails or neglects to observe or perform any of his obligations
under the contract (applicable only in respect of contracts that did
not have provision of Performance Security / PBG).
c) Withdraws any bid submitted on GeM within the period of
validity of the bid.
d) Fails to furnish requisite performance security / PBG as per GeM
e-bid / RA conditions

You were requested to deposit the Caution money by 16th November 2020. However, you have failed to deposit the Caution Money as required despite regular reminders.

 

The last date for depositing Caution Money is hereby extended upto 30.11.2020. Please note that If you fail to deposit the caution money amount by the last date, following actions will be taken / initiated against you:

-        With effect from 01.12.2020,  you will not be able to upload any new brand / products on GeM.

-        With effect from 01.12.2020, You will not be able to participate in any new Bid.

-        With effect from 01.12.2020, You will not be able to get any new DP/L1/BID/RA order.

Contact for Gem Portal Training : Baishali Madam - 8920463288