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.
Finance
The Labour Co-operative Societies shall continue to get exemption from depositing Earnest Money while participating in Government tenders.
Finance
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.
Finance
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.
Public Works
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”.
Finance
Procedure for Transfer of EMD received online through the e-tender portal to the Security Deposit Head of Account maintained at the Treasury/PAO.
Finance
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.
Finance
Online receipt and refund of EMD (Earnest Money Deposit) of e-procurement through State Government e-procurement portal: https://wbtenders.gov.in/
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