Release of Security

When the contract has been completed satisfactorily a “No Demand Certificate” in the form is given in para 6.35(a) from I.O. Where despite a reference to Indenting Officer no reply is received within the period prescribed or where penalty for delay has been recovered from the contractor by I.O. – the purchase section of Directorate shall take steps to release the security of the contractor forthwith. After verification from purchase file a Release Order in form SP 20 is signed by the officer in charge of Purchase Section concerned and sent to Accounts Section for release of security.