What Is EMD In Tender Process I Earnest Money Deposit I EMD I Bid Security I What Is EMD I
Channel: Knowledge Hub
Date: 2020-11-27

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EMD stands for Earnest Money Deposit.
EMD stands for Earnest Money Deposit. It is taken by the organization to ensure that only serious bidders participate in the tender. This is a refundable deposit which is sought in the form of fixed deposit Receipt/crossed Bank Draft/Irrevocable Bank Guarantee. 
Earnest Money Deposit (EMD) is used in Tender and Bidding Process . It is also known as Tender Security or Bid Security, Bid Bond etc. It can either be submitted in the form of Demand Draft or a Bank Guarantee in government tenders. The amount of earnest money  is usually about 1% to 2% of the contract price.
In this video, we have explained: What is earnest money deposit? How earnest money deposit or EMD is used in tender, bidding process ?  What is tender security, bid security, bid bond? What is the purpose of EMD, bid bond or bid security?  How EMD, tender security,  bid security, bid bond are submitted? What is the process of submitting the EMD in government tenders? How EMD is used in tenders? How EMD refunded ? How Bidder get EMD exemption is also explained. 

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