Refund of EMD. 4.1. The EMD of all unsuccessful bidders will be returned only after opening of financial bid. 4.2. The EMD of the successful bidder will be returned after the bidder provides the performance guarantee, as required in Para 4 of this section of the tender document. 4.3. If the successful bidder fails to enter into a contract with AAI within 15 calendar days after the receipt of the work order as specified, EMD amount shall be forfeited. 4.4. If the successful bidder fails to submit the performance guarantee as stipulated in Para 4 of this section within 30 calendar days after the receipt of the purchase order / work order, EMD amount shall be forfeited. 4.5. In the event of not accepting the conditions of the contract even after agreeing to do so and submitting the letter of un-conditional acceptance of terms & conditions as per Annexure-2, EMD amount shall be forfeited. 4.6. No interest or any other expenses, whatsoever, will be payable by AAI on the EMD in any manner. 5
