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What is the term for the amount submitted by a contractor to secure their… — Answer & Solution | Civexa

Estimation and Costing · Tenders and Contracts

Tenders and Contracts MCQ with answer and solution

What is the term for the amount submitted by a contractor to secure their commitment to a tender?

Solution

Concept

EMD

Step-by-step solution

1. EMD is a deposit with the tender to show serious intent.

Explanation

It secures the commitment of a bidder.

Why the other options are wrong

Performance bond comes after award; tender fee is the cost of documents; retention is a deduction from bills.

Shortcut

EMD = bid security.

Correct answer: C) Earnest Money Deposit (EMD)

Practise more Tenders and Contracts questions

Free account: timed tests with your exam's negative marking, previous-year papers, a mistake book and weak-topic analysis.

Which of the following are included in tender documents?
For the wider publicity of tender, tender notice is published in minimum ______ daily newspapers.
EMD cannot be submitted in ________ form.
The power of an executive engineer (upgraded division) for acceptance of tender in CPWD is up to Rs. ________.
Which of the following documents are supplied by the contractor during pre-qualification process?
During the construction period, price variation clause in contracts caters to