Amendment status not verified — confirm the current text below against the official source.
Tenders.-( I) At least seven days before entering into any contract for the execution of any work or the supply of any materials or goods, which mvolves an expenditure exceeding five thousand rupees, the Chairman shall give notice by advertisement in local new:>papers, inviting tenders for such contract. (2) In every such case the Chairman shall place before the Board the specifications, conditions and estimates and ali the tenders received specifying the particular tender, if any, which he proposes to accept. (3) In every case in which the acceptance of a tender would involve an expenditure exceedmg fifty thousand rupees, the Board shall submit to the Government the specificatiOns, conditions and estimates, and all the tenders received, specifying the particular tender, if any, the acceptance of which it proposes to sanction. (4) Neither the Board nor the Government shall be bound to s"imction the acceptance of any tender which has been made; but the Board within the pecuniary hmits of the powers as laid down in clause (c) of sub-section (I) of section 22 and the Government in the cases referred to in clause (d) of the said sub-section, may sanction the acceptance of any of such tenders which appears to it or them, upon a censideration of all the circumstances, to be the most advantageous, or may direct the rejection of all the tenders received. 2'>. Security for due performance of contract.-The Chairman shall take sufficient secunty for the due performance of every contract involving an expenditure exceedmg three thousand rupees • 1~