Section 14(1) in Tamil Nadu Transparency in Tenders (Public Private Partnership Procurement) Rules, 2012
(1)The tenderers shall be required to provide an Earnest Money Deposit (EMD) ordinarily not exceeding two percent of the estimated total project cost, which shall be in the form of a demand draft, banker's cheque, specified small saving instrument or where the Procuring Entity deems fit, unconditional, irrevocable bank guarantee.Provided that in case of operation and maintenance contracts, the Earnest Money Deposit (EMD) may be determined at a level not less than ten percent of the likely annual payments or two percent of the project value, whichever is less.
