Examples of EMD in a sentence
In the event of any default in payment of purchase consideration in full, or if the sale is not completed by reason of any default on the part of the successful Offeror or for reasons beyond the control of the Authorised Officer/Arcil, the Authorised Officer shall be entitled to forfeit all the moneys/purchase consideration including EMD paid by the successful Offeror and put up the Secured Assets for resale/disposal.
No tender shall be considered unless the EMD is so deposited in the required form.
Bidder will be responsible for any delay due to other issues.2) The bidder has to digitally sign and upload the required bid documents one by one as indicated in the tender document.3) Bidder has to select the payment option as “offline” to pay the tender fee / EMD as applicable and enter details of the instrument.4) Bidder should prepare the EMD as per the instructions specified in the tender document.
Both tender form cost as well as EMD is to be compulsorily enclosed with Technical bid.
The EMD shall be returned to the unsuccessful Offerors within 7(seven) working days of the date of auction however all tenderers/Offerors shall keep their tender/Offer valid/open for acceptance for a period of 30 (Thirty) days from the date of auction.