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.

Depositing Earnest Money by Labour Co-Operative Societies

Finance

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

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.

Additional Performance Security when Bid is 80% or Less

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.

Instant Release of EMD for Unsuccessful Bidders

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.

Earnest Money

Depositing Earnest Money by Labour Co-Operative Societies

Exemption of Earnest Money Procurement through GeM

Additional Performance Security when Bid is 80% or Less

Instant Release of EMD for Unsuccessful Bidders

Transfer of EMD to Security Deposit Head Account

Linking of Bank Account with ICICI Payment Gateway

Earnest Money Deposit through e-Procurement Portal