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Is a Earnest Money Deposit refundable? | Zillow

WHAT IS EARNEST MONEY DEPOSIT This query is: CA Gaurav Khanna Expert Follow 20 October The amount is generally paid to show the seriousness in the transaction from the buyer side.

C V SURYAM Expert Follow 21 October It differs from client to client.

If the contract is awarded, this EMD amount can be adjusted futures trading brokerage services llc any other security deposits that are to be kept with the client till certain period depending upon the nature of retention money.

If the contract is not earnest money not refundable, the contractor is entitled to get refund of EMD paid alongwith tender but without interest which is normal practice. To cut short cash outflow, the contractor may submit BG instead of cash deposit, if tender terms allow.

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