User:Nkkdass

EARNEST MONEY DEPOSIT (EMD): IS THE SURETY GIVEN BY THE BIDDER TO STAND BY THE OFFERED TERMS AND CONDITIONS TILL THE VALIDITY OF THE OFFER.

EMD is sought by the Purchaser in high value tenders. EMD may vary from case to case and from organization to organization. EMD is to be submitted along with the Part – I Techno Commercial Bid.

EMD can be submitted in the form of Cash, Demand Draft, Bank Guarantee, Fixed Deposit (as per tender terms and conditions).

EMD shall be refunded immediately to unsuccessful tenderers after placement of order against the tender.

In India, firms registered with National Small Industries Corporation under it’s single point registration scheme and Item under procurement is appearing in NSIC certificate, such firms are exempted from payment of Earnest Money Deposit.