Indian Institute Of Technology Tender

The bid capacity required can be determined using the following information: * Experience: - Three similar works, each of value not less than 40% of the estimated cost, - OR - Two similar works, each of value not less than 60% of the estimated cost, - OR - One similar work of value not less than 80% of the estimated cost. * Turnover: Average annual turnover of at least 50% of the estimated cost during the immediate last 3 consecutive financial years. Given the estimated cost is Rs. 200 Lacs, - 40% of the estimated cost = 0.4 * 200 Lacs = Rs. 80 Lacs - 60% of the estimated cost = 0.6 * 200 Lacs = Rs. 120 Lacs - 80% of the estimated cost = 0.8 * 200 Lacs = Rs. 160 Lacs - 50% of the estimated cost = 0.5 * 200 Lacs = Rs. 100 Lacs Therefore, the bid capacity required is: - Experience: Three similar works of Rs. 80 Lacs each, OR two similar works of Rs. 120 Lacs each, OR one similar work of Rs. 160 Lacs. - Turnover: Average annual turnover of at least Rs. 100 Lacs during the last 3 financial years. Formulas used: - Experience: (Estimated Cost * Percentage) = Required Value - Turnover: (Estimated Cost * 0.5) = Required Average Annual Turnover The bid capacity required in terms of value and formulas is found to be: - Minimum turnover: 100 Lacs per annum - Minimum experience: One similar work of value not less than 120 Lacs or two similar works of value not less than 80 Lacs each or one similar work of value not less than 160 Lacs.