Logistics terms · Logistics terms
What does Earnest money deposit (EMD) mean in logistics?
Short answer
A deposit submitted with a bid to show the bidder is serious; it is forfeited if the bidder withdraws or refuses the award, and refunded to unsuccessful bidders.
Standard in Indian government and PSU tenders. Under the General Financial Rules, 2017 buyers may accept a bid security declaration instead, and registered micro and small enterprises are often exempt from EMD. Ask our desk how this applies to your consignment.
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The numbers behind this answer
- Also called
- EMD, bid security
- Category
- Contracts & pricing
- Related terms
- Performance bank guarantee (PBG), Government e-Marketplace (GeM), Central Public Procurement Portal (CPPP), MSME / Udyam registration
Related questions
- What does Central Public Procurement Portal (CPPP) mean in logistics?
- What does E-auction (reverse auction) mean in logistics?
- What does Government e-Marketplace (GeM) mean in logistics?
- What does MSME / Udyam registration mean in logistics?
- What does Performance bank guarantee (PBG) mean in logistics?
- What does Work order mean in logistics?
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