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.
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.
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.
A security deposit of 12.5 lakhs was necessary for exemption of earnest money deposit while participating in tender. Such provision from Public Works Code is deleted.
Exemption from payment of Earnest Money and Security Deposit given to Small Scale Industrial (SSI) units under rules 47A(1) and 47B(7) of West Bengal Financial Rules, Volume-I is applicable to supply contracts only and not to works contracts.