Corporation Of Chennai Tender

Class I

The bid capacity required in the given tender can be calculated using the formula: Bid capacity = AxNx1.5-B Where A = Maximum annual turnover in any one year during the last five years (updated to 2023-24 price level). B = Value, at price 2023-24 level, of existing commitments and on-going works to be completed during the period of completion of the works for which bids are invited. N = Number of years prescribed for completion of works for which bids are invited, which is 1 year (12 months) as per the tender schedule. Additionally, the bidder should have an annual turnover of at least 1.5 times the value of the work in any one of the last five years, and the available bid capacity should be more than the total bid value. Also, the average annual financial turnover during the last 5 years should be at least 50% of the estimated cost, and the bidder should have a minimum amount of liquid assets and/or credit facilities net of other contractual commitments, which should be 30% of the tender value of work. The formulas for calculating these capacities are: 1. Average Annual Financial Turnover: 50% of the estimated cost 2. Liquid Assets/Credit Facilities: 30% of the tender value of work The bidder should also meet the requirements of having successfully completed similar building works in the last five years, with values meeting specific criteria relative to the estimated cost: - Three similar completed works costing not less than 40% of the estimated cost. - Two similar completed works costing not less than 50% of the estimated cost. - One similar completed work costing not less than 80% of the estimated cost.