As per general conditions of the contract, the security money deposited by the contractor is: 

Explanation:

As per the General Conditions of Contract (GCC), in many contracts, the security deposit required from the contractor is typically 10% of the estimated cost. This is the standard requirement in several public works contracts.

The security deposit can be:

1. A fixed percentage of the tendered amount or estimated cost.

2. Usually deducted from the contractor's running bills or paid upfront.

3. It ensures that the contractor fulfills their obligations as per the contract terms and serves as a guarantee against defaults.

4. In some cases, higher percentages may be applied depending on the specific conditions of the contract or type of project.

Additional InformationPurpose of Security Deposit:

1. The security deposit is a guarantee from the contractor to ensure the proper execution of work, adherence to quality standards, and compliance with contract conditions.

2. It acts as a safeguard for the employer in case the contractor defaults or fails to meet obligations during the execution or warranty period.