Skip to main content

what is EMD in tender?

"What does EMD stand for in the context of tenders, and what is its purpose or significance in the bidding process?"

5 Answers

A
Anonymous

Dec 30, 2024

EMD is Earnest Money Deposit, which is placed to show your commitment towards a certain transaction (real estate purchase, tender etc.) It is normally refunded if satisfactory performance is accorded as expected; otherwise forfeited.

Eg; in the tender to buy used vehicles, the EMD will be forfieted if the successful tenderer does not pay the amounts due and get the goods. On the other hand, the said EMD will be normally adjusted against the bid price.

For the best answers, search on this site https://shorturl.im/axvHS

Earnest money deposit (EMD) amount in a tender is based on the logic of the recovery of the expenditure incurred by the tender floating organisation from its initialisation to the final award of the tender. In case, the agency to whom the tender is awarded denies to take up the work, the tender floating organisation can fore fit the EMD. In practise it is taken to be 2 to 5 percentage of the amount put to tender. Lesser the amount put to tender higher is the percentage for EMD.

A
Anonymous

Feb 04, 2025

Every tender, other than SINGLE tender shall be accompanied by Earnest MONEYDeposit, not exceeding one percent of the value of the procurement by means of a demand draft or bankers cheque or pay order.

A
Anonymous

Jan 29, 2025

what is pre qualification documents in tender

Want to answer this question?

Join our community to share your knowledge!

Related Questions

7
Does Walmart, Target, or meijer offer Layaway options anymore?

Do Walmart, Target, or Meijer still offer layaway options? I'm interested in knowing if these retailers currently provid...

10
On a U.S. Nuclear submarine, is the Xo higher ranked than the Captain?

I was watching the movie "Crimson Tide" and became curious about the ranks within a U.S. nuclear submarine. Specifically...

2
What does the word ‘Kusabi’ mean?

I have encountered the term "Kusabi" in two different contexts: once in the video game Fatal Frame II and again in the s...

6
What is a Bandidos Nomad?

Who are the Nomads in the Bandidos Motorcycle Club?

6
What is the song with lyrics “do you wanna ride in the back seat of a caddy”?

I have the chorus of a song stuck in my head, and I can't figure out who sings it or what the song is. I've tried search...

4
What should I wear for Home Depot orientation tomorrow?

I just got hired for a part-time sales job at Home Depot, and I have my orientation tomorrow. I've never had a job where...

4
Where can I find the instructions for the Ikea Brimnes bed?

I’ve already checked the IKEA website, but they only provide instructions for the Brimnes bed with storage drawers. I sp...

2
Why its so quiet, is it midle of the night right now? what time is it?

Why is it so quiet? Is it the middle of the night right now? What time is it?

8
Does Wells Fargo Bank open on Sundays?

Does Wells Fargo Bank open on Sundays in Bakersfield, California, specifically at the intersection of White Lane and Gos...

3
How tall is a ps4 game case?

What is the height of a PlayStation 4 game case?