Revision of Performance Guarantee in Service Contracts: Railway Board

Revision of Performance Guarantee in Service Contracts: Railway Board

Revision of Performance Guarantee in Service Contracts from 10% to 5% for all future Service Contracts of Indian Railways: Railway Board Order dated 24.05.2024

भारत सरकार/ GOVERNMENT OF INDIA
रेल मंत्रालय/ MINISTRY OF RAILWAYS
रेलवे बोर्ड/ (RAILWAY BOARD)

No.2017/EnHM/25/11

New Delhi dated. 24.05.2024

To,
As per list attached.

Sub: Revision of Performance Guarantee in Service Contracts.

Ref: 1. Ministry of Finance’s OM No. F.1/2/2023-PPD dated 01.01.2024 titled Amendment in General Financial Rules, 2017 — Rule 171(4) Performance Security Regarding.

2. This office letter of even number dt. 11.12.2020.

Board (M/TRS & MF) have decided to reduce the Performance Guarantee for services contracts, as given in Para 4.11 of GCC for Services, from 10% to 5% for all future Service Contracts of Indian Railways.

2. This issues with the concurrence of Finance Directorate of the Ministry of Railways.

signed by
Ajay Jha
Date: 24.052024 11:39:05
(Ajay Jha)
Director/EnHM
Railway Board

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