What is the diff. between EMD and Bank Guarantee?
2 Replies
CA. Shikha
(Chartered Accountant)
(4143 Points)
Replied 16 July 2010
An EMD(Earnest Money Deposit) is a good faith deposit by the buyer to the seller to show that they will follow through with the conveyance/closing. It is similar to a reservation fee.
CA. Shikha
(Chartered Accountant)
(4143 Points)
Replied 16 July 2010
Bank gurantee is a guarantee from a lending institution ensuring that the liabilities of a debtor will be met.
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