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”.
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.
Exemption of Earnest Money for Labour Co-operative Societies
Labour Co-operative Societies are exempted from payment of Earnest Money against all tenders of the Government. These Societies, if selected through tender, will have to furnish requisite Security Deposit.
Online Receipt and Refund of EMD through e-Tender Portal
EMD of the bidders disqualified at the technical evaluation will revert to the respective bidders accounts without any manual intervention following the same path in which the EMD was transferred from the bidder’s bank account to the pooling account electronically.