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