Question
Download Solution PDFA tender is usually accompanied with an amount called _______.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is option 4): (earnest money)
Concept:
- Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a Bidder along with its tender.
- Earnest Money Deposit (EMD) means Bid Security/ monetary or financial guarantee to be furnished by a tenderer along with its tender.
- Earnest money is essentially a deposit a buyer makes on a home they want to purchase.
- A contract is written up during the exchange of the earnest money that outlines the conditions for refunding the amount.
- Earnest money deposits can be anywhere from 1–10% of the sales price, depending mostly on market interest.
- Should a buyer break the terms of the contract, they may be at risk of losing their earnest money deposit.
Last updated on Jul 1, 2025
-> SSC JE Electrical 2025 Notification is released on June 30 for the post of Junior Engineer Electrical, Civil & Mechanical.
-> There are a total 1340 No of vacancies have been announced. Categtory wise vacancy distribution will be announced later.
-> Applicants can fill out the SSC JE application form 2025 for Electrical Engineering from June 30 to July 21.
-> SSC JE EE 2025 paper 1 exam will be conducted from October 27 to 31.
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