EMD/SD
EMD/SD tracks the deposits a tender requires — Earnest Money to bid, Security Deposit to hold the contract. Both are your money sitting with the client, and both are refundable, so this register is really a list of cash you are owed.
Where to find it
Go to TenderPro > EMD/SD.
EMD or SD
| EMD | SD | |
|---|---|---|
| Stands for | Earnest Money Deposit. | Security Deposit. |
| Lodged | To take part in the tender. | On being awarded the contract. |
| Returned | After the tender is decided, win or lose. | After the contract and any defect period ends. |
| Typically | A fixed amount set by the tender. | A percentage of the award value. |
What the list shows
| Column | Description |
|---|---|
| ID / Reference | The deposit record. |
| Project Name | The tender it belongs to. |
| Customer | Who is holding the money. |
| Amount / Cost | What was lodged. |
| Date | When it was paid. |
| Expiry Date | When a bank guarantee lapses. The date to watch. |
| Paid / Refundable / Refunded / Matured | Where the deposit stands. |
Recording a deposit
| Field | Description |
|---|---|
| Project | Required — an EMD or SD cannot exist without one. |
| EMD Amount | What is being lodged to bid. |
| Payable SD Amount | The security deposit due, often calculated from a percentage. |
| Percentage | The rate the SD or bank guarantee is set at. It must be a valid percentage. |
| Bank Account | Where the money leaves from. The available balance is shown before you commit. |
| LOA | Links the deposit to the award, where one exists. |
Instrument types
Deposits are lodged in several forms: DD, NEFT/RTGS/IMPS, Bank Guarantee, Fixed Deposit, or an Exemption where the client waives it.
Watch bank guarantee expiry dates more closely than the amounts. A guarantee that lapses before the client releases it has to be renewed at your cost, and the renewal is always more urgent than it looks on the day you notice.
Getting it back
When the client releases a deposit, record it through Refunds. Until then it stays on this register as money out.