Which one among the following is incorrect?
A. EMD is 2% of the value of work, if the work value is up to Rs. 1 Crore.
B. If value of work is beyond Rs. 1 Crore, the EMD is Rs.2 Lakh plus 0.5 % of the excess of the estimated cost of work beyond Rs. 1 Crore.
C. EMD of successful tenderer is retained as part of SD - Security Deposit.
D. EMD is applicable to Open Tenders only
Answer:D
Which one among the following is incorrect?
A. EMD is 2% of the value of work, if the work value is up to Rs. 1 Crore. B. If value of work is beyond Rs. 1 Crore, the EMD is Rs.2 Lakh plus 0.5 % of the excess of the estimated cost of work beyond Rs. 1 Crore. C. EMD of successful tenderer is retained as part of SD - Security Deposit. D. EMD is applicable to Open Tenders only