Question

EMD......amount of total estimated cost​

Answer 1

Answer:

5 percent

EMD is a deposit taken as a guaranty from the bidder if the tender is accepted by the owner and if the contractor (bidder) refuses to accept that work in that case the EMD is not returned to that party. It is generally 2 to 5 percent estimated cost.

Answer 2

EMD......amount of total estimated cost​?

EMD __1% to 2%__ amount of total estimated cost​.

Explanation :

EMD i.e. Earnest Money Deposit means the amount which is deposited by the contractors with the tenderer at the time of submission of their tender. This is a kind of guarantee amount. This is the amount to be deposited at the time of submission of tender. This amount will be refunded to the contractors whose tender is not accepted. This amount is usually one or two percent of the estimated cost.

This amount is taken to ensure that contractor does not make any dummy bids at the time of bidding and does not back down by filling the tender.

Tender is always taken in the form of Demand Draft and it is considered as a small refundable fee by the Govt.

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