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.

New Portal for Online Receipt/ Refund of EMD/ Tender Fees

Expansion of scope of the new portal (www.tenders.wb.gov.in) and introduction of the facilities for online Receipt/ Refund of EMD/ Tender fees.
Depositing Earnest Money by Labour Co-Operative Societies

The Labour Co-operative Societies shall continue to get exemption from depositing Earnest Money while participating in Government tenders.
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.
Additional Performance Security when Bid is 80% or Less

Additional Performance Security when the bid rate is 80% or less of the Estimate put to tender and no increase in scope of work of projects during execution phase.
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.
Additional Performance Security in Road Projects

If the bidder fails to complete the work successfully, the Additional Performance Security shall be forfeited at any time during the pendency of the Contract period after serving proper notice to the Contractor.
Transfer of EMD to Security Deposit Head Account

Procedure for Transfer of EMD received online through the e-tender portal to the Security Deposit Head of Account maintained at the Treasury/PAO.
Linking of Bank Account with ICICI Payment Gateway

e-Procurement – Linking of Bank Account with ICICI Payment Gateway is required for online receipt/ refund/ settlement of and EMD/ Tender Fees for the e-tenders.
Earnest Money Deposit through e-Procurement Portal

Online receipt and refund of EMD (Earnest Money Deposit) of e-procurement through State Government e-procurement portal: https://wbtenders.gov.in/
Refund of Tax/ Non-Tax Revenue incl. EMD/ SD Money

In respect of EMD/SD money, refund will be drawn on sanction of respective Departmental Officer in whose favour amount has been deposited through GRIPS portal.