Earnest Money

Earnest Money amounting to 2 percent of the estimated value of the work for which tender has been called for, shall have to be deposited by all intending tenderers.

Exemption of Earnest Money Procurement through GeM

In order to get more participants and obtain better competition in procurement through GeM, it is decided to include following categories of sellers/ service providers, in addition to our existing provisions, for exemption of EMD deposit in GeM.

Instant Release of EMD for Unsuccessful Bidders

To prevent unnecessary blocking of earnest money of the unsuccessful bidders, the bid evaluation committee shall carry out the financial evaluation of the tender just after financial bid opening (selection of L1 bidder) and all the unsuccessful bids shall be REJECTED.

Online Receipt and Refund of EMD through e-Tender Portal

EMD of the bidders disqualified at the technical evaluation will revert to the respective bidders accounts without any manual intervention following the same path in which the EMD was transferred from the bidder’s bank account to the pooling account electronically.

Exemption of Earnest Money and Security Deposit for SSI units

Exemption from payment of Earnest Money and Security Deposit given to Small Scale Industrial (SSI) units under rules 47A(1) and 47B(7) of West Bengal Financial Rules, Volume-I is applicable to supply contracts only and not to works contracts.