Hi...What is CDR. I have been asked this question one of the
Tender documents. Sum of Rs.2,00,000.00 is to be pledged to
GOVT in form of CDR. So can any one make me under stand what
is CDR and how to fulfill the same. Which bank is advisable
for making CDR.
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Answer Posted / mmshende
CDR here referred is basically - cash deposit receipt - its to be tendered as earnest money - as security ( to be used in case the tender has to be revoked by any means etc ) towards the tender and its T&C - its normally discharged and issued - kept in the name of the Tendering Authority who has issued the Tender. The CDR remains there as long ( to be as per fixed tenure with auto renewal and as long as there is no specific letter to release the same from the appropriate same authority) - Now a days due to MNC culture and due to globalisation and new generation - short words are being used instead of the proper ones -so things are changing a lot - so one misses the track of real and right things' - Regards mms - will be happy to respond to fin banking invstt wealth realty issues etc truly and correctly at the best possible
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