The Labour Co-operative Societies shall continue to get exemption from depositing Earnest Money while participating in Government tenders.
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 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.
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".
Procedure for Transfer of EMD received online through the e-tender portal to the Security Deposit Head of Account maintained at the Treasury/PAO.
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.