Terms and Conditions of the Contract. Earnest Money Deposit (EMD): The tenderer shall deposit Earnest Money of Rs.6 lakhs/- (Rupees Six Lakhs Only) through Demand Draft drawn in favour of “Indian Institute of Management Raipur” payable at Raipur”. The Earnest money deposit will be refunded to the tenderers whose offers have not been accepted. Earnest Money Deposit of the tenderer whose offer is accepted will be kept uptill the time, the Bank Guarantee is not received.
