EMD Payment Sample Clauses
The EMD Payment clause defines the requirement for the buyer to provide an Earnest Money Deposit (EMD) as part of a transaction, typically in real estate or procurement contracts. This clause specifies the amount, timing, and acceptable methods for submitting the EMD, and may outline conditions under which the deposit is refundable or forfeited, such as failure to complete the transaction. Its core function is to demonstrate the buyer’s commitment and seriousness, while protecting the seller or provider from potential losses if the buyer withdraws without valid reason.
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EMD Payment. The bidder shall be required to submit the ▇▇▇▇▇▇▇ Money Deposit (EMD) for an amount of Rs. 2,00,000/- (Rupees Two Lakhs Only) by way of Bank Guarantee / FDR only. The Bank Guarantee / FDR shall be drawn in favour of “All India Institute of Medical Sciences, Jodhpur”. The EMD of the successful bidder shall be returned after the successful submission of Bank Guarantee / Security Deposit and for unsuccessful bidder(s) it would be returned after award of the contract. The Bank Guarantee / FDR for EMD must deliver to AIIMS, Jodhpur on or before last date / time of Bid Submission.
a) No request for transfer of any pervious deposit of ▇▇▇▇▇▇▇ money or security deposit or payment of any pending bill held by the institute in respect of any previous work will be entertained.
b) Tenderer shall not be permitted to withdraw his offer or modify the terms and conditions thereof. In case the tenderer fails to observe and comply with stipulation made herein or backs out after quoting the rates, the aforesaid amount of ▇▇▇▇▇▇▇ money will be forfeited.
c) The Tenders without ▇▇▇▇▇▇▇ Money will be summarily rejected.
d) The bidders who are registered as Micro and Small Enterprises (MSEs) as defined in MSE Procurement Policy issued by Department of Micro, Small and Medium Enterprises (MSME) or are registered with the Central Purchase Organization or the concerned Ministry or Department [or Startups as recognized by Department for Promotion of Industry and Internal Trade (DPIIT)] are exempted to submit the EMD (Copy of registration with concern agency, must be provided along with Technical Bid.) No other relaxation shall be allowed.
e) No Claim shall lie against the AIIMS in respect of erosion in the value or interest on the amount of EMD.
f) The EMD, in case of successful bidders shall be returned after submission of performance security and in case of unsuccessful Bidders shall be retained by the Purchaser, upto a maximum period of 6 months from the date of opening of the Bids or till the finalization of the tender, whichever is later. The bid security shall be refunded to the unsuccessful tenderers on written request. No interest will be payable by the AIIMS authorities on the EMD.
EMD Payment. The bidder shall be required to submit the ▇▇▇▇▇▇▇ Money Deposit (EMD) for an amount of Rs. 2,00,000/- (Rupees Two Lakhs Only) by way of demand drafts or Bank Guarantee only. The demand drafts or Bank Guarantee shall be drawn in favour of “All India Institute of Medical Sciences, Jodhpur”. BG/ EMD Must be payable at Jodhpur. The EMD of the successful bidder shall be returned after the successful submission of Bank Guarantee/ Security Deposit and for unsuccessful bidder(s) it would be returned after award of the contract. The demand drafts or Bank Guarantee for EMD must deliver to AIIMS, Jodhpur on or before last date/time of Bid Submission.
EMD Payment. The bidder shall be required to submit the ▇▇▇▇▇▇▇ Money Deposit (EMD) for an amount of Rs. 1,08,000/- (Rupees One Lakh Eight Thousand Only) by way of demand drafts or Bank Guarantee only. The demand drafts shall be drawn in favour of “
EMD Payment. The bidder shall be required to submit the ▇▇▇▇▇▇▇ Money Deposit (EMD) for an amount of Rs. 60,000/- (Rupees Sixty Thousand Only) by way of demand drafts or Bank Guarantee only. The demand drafts shall be drawn in favour of “All India Institute of Medical Sciences, Gorakhpur”. The demand drafts or Bank Guarantee for ▇▇▇▇▇▇▇ money deposit must delivered to the AIIMS, Gorakhpur on or before bid closing date/time (submitted only in Dispatch/Received section). The EMD of the successful bidder shall be returned after the successful submission of Bank Guarantee/ Security Deposit and for unsuccessful bidder(s) it would be returned after award of the contract. Bid(s) received without demand drafts of EMD will be rejected. • Tenderer shall not be permitted to withdraw his offer or modify the terms and conditions thereof. In case the tenderer fail to observe and comply with stipulation made herein or backs out after quoting the rates, the aforesaid amount of ▇▇▇▇▇▇▇ money will be forfeited. • The Firm who are registered with National Small Industries Corporation (NSIC) / OR Small Scale Industries (SSI) are exempted to submit the EMD (Copy of registration must be provide along with technical bid) • The EMD, in case of unsuccessful Bidders shall be retained by AIIMS, Gorakhpur till the finalization of the tender. No interest will be payable by AIIMS, Gorakhpur on the EMD.
EMD Payment. The bidder shall be required to make the ▇▇▇▇▇▇▇ Money Deposit (EMD) for an amount of Rs. 5,000.00/- (Rupees Five Thousand Only) OR 5% of the total value quoted by the bidder, whichever is higher through E Procurement Karnataka website ONLY. The EMD shall be paid online as instructed by E Procurement Karnataka. The EMD of the successful bidder shall be returned after the successful submission of required Bank Guarantee/ Security Deposit (If applicable only) and for unsuccessful bidder(s) it would be returned after award of the contract.
(A) Tenderer shall not be permitted to withdraw his offer or modify the terms and conditions thereof. In case the tenderer fails to observe and comply with stipulation made herein or backs out after quoting the rates, the aforesaid amount of ▇▇▇▇▇▇▇ money will be forfeited.
(B) The Firm who are registered with National Small Industries Corporation (NSIC) / OR Small Scale Industries (SSI) are requested to communicate with E Procurement Karnataka for submission of relevant documents to avail Concession or Exemption of EMD as per provisions provided by Government of India.
(C) The EMD, in case of unsuccessful Bidders shall be retained by NIMHANS, Bangalore till the finalization of the tender. No interest will be payable by NIMHANS, Bangalore on the EMD.