A Blog that gives basic information about Indian Government tendering and procurement process.

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It is a dummies guide to Tendering where anything and everything related to Tender Notices is explained. For more tender from across India of visit www. I really enjoy to visit this your post. I read your article its very nice to read i have early waiting for your post. Great thoughts you got there, believe I may possibly try just some of it throughout my daily life. Really helpful site, I'd love to subscribe your updates.. IT WAS SERIOUSLY NYC I CAME TO KNOW ABT MANY THINGS LIKE BG, EMD AND ALL.

Successful bidder get back EMD after completion of work or not?

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Thursday, February 26, All about Money. Tender Document Fees is the fee towards buying the Tender Document. The reason towards making Tender Document paid are many; - To ensure that only Serious Bidders bid - To recover the cost of making Tender Document - To recover the cost of Tender Advertisement - To recover the cost of efforts involved in tendering process Please Visit http: In case Tender is cancelled, the EMD is returned.

Most of the time the EMD is not credited into Government Bank but is kept with Buyers in as it is form. After Tender opening the same is returned. Some Government departments however deposit the EMD into their Bank and enjoy the Interest.

Some departments which are not cash rich even go to the extent of using bidders money and poor bidder actually have to bribe accountants to get their EMD back. After Bid is opened, if a Bidders refuses to take the contract, than his EMD is forfeited.

Tender: Meaning, Documents and Notice | Buildings

In such Tenders Bidders will not want to make a DD of the same and give it to Government because there will be huge interest loss till the time EMD is not returned. Hence in all such Tenders instead of EMD , Bank Guarantee is also allowed. In case of Bank Guarantee, the Bank Issues a letter to Government a sort of undertaking that if Bidder Defaults, Bank will pay amount equivalent to Bank Guarantee amount.

The Government purpose is solved, because if Bidder defaults, it will get the Money from Bank. In most of the cases, BG is allowed from only Nationalised Bank i. BOB, SBI , etc. Some Buyers also allowed Private Banks like ICICI , Citibank, etc.

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To get a Bank Guarantee, the Bidder has to do the following Option 1: Bidder can pledge collateral's like House, Offices, Machinery's , Raw Materials, etc. Bank on the basis of valuation of his Collateral can issue Bank Guarantee. If a Bidders gets Rs.

Now if he does not complete the bridge on time or leaves it incomplete, the Government can forfeit his 1 Cr as penalty. Security Deposit can be in form of EMD , Bank Guarantee, National Saving certificates, Cash, etc. Only when the Winning Bidders makes the Security Deposit, he gets his EMD Back. Posted by ramesh sinha at 1: Thanks a lot sir!

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Alternatively you can even mail me at ramesh.