EMD full form

Meaning : Earnest Money Deposit

Category : Business
Sub Category :Tenders  
Type : Initialism

What does EMD mean or stand for ?

Earnest Money Deposit is a small token sum taken by an issuing agency who has just advertised a tender for a contract. When prospective applicants apply and bid for this tender, they need to also deposit an earnest money deposit that maybe refunded in case they are unsuccessful in winning the contract.