Waiver of earnest money deposit for highway projects in EPC mode comes as a relief for mid-sized highway players, ratings agency Icra said on Thursday.
In place of bid security, the bidders are now required to sign a bid securing declaration accepting that if they withdraw or modify the bids during the period of validity or if they fail to submit a performance security for the awarded contract before the deadline, they will be suspended from participation in the tendering process for a year.
The Ministry of Road Transportation and Highways’ (MoRTH) decision that all nodal agencies for national highway project implementation — NHAI, MoRTH and National Highways and Infrastructure Development Corporation (NHIDCL)
