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What is EMD (Earnest Money Deposit) in Government Tenders?

Earnest Money Deposit is a refundable security a bidder submits with their bid to show serious intent.

Usually a small percentage of the estimated tender value, stated in the tender document.

Refunded to unsuccessful bidders after evaluation, and to the winner once a performance guarantee is furnished.

Forfeited if a bidder withdraws during validity or the winner fails to sign the contract.

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