EARNEST MONEY DEPOSIT :i)
ii)
iii)
Earnest Money Deposit (EMD) may be accepted in the form of DD/Bank guarantee,
Fixed deposit Receipt, Banker cheque from any of the public sector banks or private
sector Bank authorized to conduct Govt. business is required to be sent along with
Tech. Bid for OTE & Price Bid for LTE. At present ICICI Bank Ltd., Axis Bank Ltd.,
HDFC Bank Ltd., are the private sector Banks authorised to carry out Govt.
transation. However the same is exempted to those firms who are registered
with sister ordnance factories /O. F. Chanda / Central Purchase Organization
(e.g.DGS&D)/ National Small Inds. Corporation(NSIC) or Ministries of the Govt of
India against proof of valid certificate.
EMD is normally to remain valid for a period of forty-five
days beyond the final bid validity period.
EMD need not be required for an estimated Tender value
(including all taxes) up to Rs. 2 Lakhs.