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Consider the following statements regarding tendering for a civil work: 1. Earnest money deposit (EMD) is a prerequisite to tender for a work. 2. It is not essential to call for the contractor’s credentials when a tender is invited. Which of the above statements is/are correct?

Consider the following statements regarding tendering for a civil work: 1. Earnest money deposit (EMD) is a prerequisite to tender for a work. 2. It is not essential to call for the contractor’s credentials when a tender is invited. Which of the above statements is/are correct? Correct Answer 1 only

Concept:

Earnest money deposit is the amount to be deposited by all the contractors when they submit their tender. EMD of the contractors whose tender is not accepted will be refunded.

Generally, 1%-2% of the estimated cost is submitted as the EMD.

To ensure that a Bidder does not submit a Dummy Bid or back out at the time of tender opening, Government Department collects a small refundable fee from each bidder, which is called EMD. EMD is always in the form of a Demand Draft & cheques or cash are strictly not allowed.

The success of a project largely depends on the capability of the contractor/vendor. Pre-qualification is a process to select competent contractors having technical and financial capability commensurate with the requirements of the particular procurement (Project / supply of goods/ hiring of services).

So it is essential to call for the contractor’s credentials when a tender is invited.

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