Can someone explain me this line from a tender document-
''The Earnest Money shall be forfeited if the bidder withdraws the offer during the interval between the last date and time of submission of the offer or any extension thereof and expiration of the validity period of the offer including extension thereof.''
Does this mean that if I have paid EMD and if I now withdraw my bid then the EMD will be forfeited?
Yes, if you withdraw bid before expiry date (original or extended)
And also if the successful bidder withdraws the same from its validity date (original or extended)
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
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Jawahar and Associates Chartered Accountants
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