Everything About EMD in Tender (1)

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Everything About
EMD in Tender

• By TenderBidding

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Lets discussed about EMD Tender

• EMD stands for Earnest Money Deposit
• EMD Tender means EMD in Tender refers to an
  amount that is being paid by the bidder to the
  client as a part of assurance that they are
  genuinely interested in taking up the work.
• They are willing to complete the project work per
  contractual terms and conditions if the Tender is
  awarded to them.
• The amount of EMD to be submitted in many tenders
  is specified explicitly.

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EMD Tender Example

• For example, if the cost of any tender is
  100,00,000Rs. So, EMD in Tender as per 2 - would
  be 2,00,000Rs. Earnest money is sometimes
  referred to as a property deposit, an insurance
  deposit, or money of goodwill.

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Benefits of EMD in Tender

• Scroll to know the benefits

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Not all of EMDs activities revolve around property-related assets. The Earnest Deposit (EMD) is also allowed in government and commercial projects. The sellers must compete in a bidding battle and pay the EMD to the respective firms. A bid bond, bid security, or tender security are used to describe EMD in several countries. One of the greatest benefits of EMD in gem portals is that it reduces the number of bidders, especially those who are incompetent.
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For example, as mentioned above, if the tender cost is 100,00,000 Rs. Then EMD would be 2,00,000. So, businesses or bidders who cannot submit 2,00,000Rs would not be bidding, and only those companies who are genuinely interested in work will participate. Another thing to discuss for what is EMD in Tender is if, as a bidder, you are awarded the contract. Then you refuse to work under any circumstances the client has the exclusive right to forfeit your EMD. So, in other ways, it works as an assurance to the client.

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Wrap Up

• Additionally, they assist with locating and
  submitting etenders on various government
  procurement portals and locating joint venture or
  consortium partners. They can also help track
  tenders, document reading, pre-bid questions, and
  find joint venture or consortium partners.

• By TenderBidding

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