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What Is EMD in Contract Work - Google Search PDF
What Is EMD in Contract Work - Google Search PDF
A) Earnest Money Deposit: Earnest Money Deposit (EMD) of Rs. 26,540.00 (Rupees
twenty six thousand five hundred forty only)) is required to be submitted by Demand
Draft/ Bankers Cheque by the Tenderer with the tender.
EMD is returned when all Bids are opened & tender is awarded. In case Tender is
cancelled, the EMD is returned. ... After Bid is opened, if a Bidders refuses to take the
contract, than his EMD is forfeited. EMD is generally less than 5% of the Tender
Value. Feb 26, 2009
Earnest Money Deposit (EMD) is a deposit which the tenderers have to make alongwith
the submission of the tenders for showing their earnestness for undertaking the job
spelt out in the tender notice. If the party withdraws its tender before the date of validity,
such EMD would be forfeited.
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