New Delhi: In keeping with the Atmanirbhar Bharat policy enunciated by Prime Minister Narendra Modi and a boost to Make in India, Defence Minister Rajnath Singh has approved the waiver of the requirement of “Performance Security” for the “Development Contracts” by Defence Research and Development Organisation (DRDO) and Advanced Technology Vessel Project (ATVP).
This will apply to development contracts only, as defined in para 12.5 of the DRDO Procurement Manual, PM 2016, as amended. However, Warranty Bond would continue to be obtained from successful development partner to cover the DRDO/ ATVP interest during the warranty period.
This provision will be applicable for all RFPs issued in respect of development contracts after September 23 which is the date of issue of this amendment. All ongoing cases of development contracts in which Request for Proposal (RFP)/ contract has already been issued may continue to be regulated as per the provisions contained in the issued RFP/ contract.
Secretary DD R&D and Chairman DRDO Dr G Satheesh Reddy said it is another important milestone to support the industry.


