Question

explain earnest money deposit and security deposit​

Answer 1

Explanation:

EMD (Earnest Money Deposit):

Earnest Money is taken at the time of bid/tender submission from all bidders, whereas security deposit is taken ONLY from the successful bidder, in order to make sure that the successful bidder supply the product/service/work as per the terms of the contact.

Answer 2

Answer

EMD (Earnest Money Deposit):

Earnest Money is taken at the time of bid/tender submission from all bidders, whereas security deposit is taken ONLY from the successful bidder, in order to make sure that the successful bidder supply the product/service/work as per the terms of the contact.