Irrigation Department Tender

The Bid capacity required in the given tender to bid is calculated using the formula: 2AN - B. Where: - A = Maximum Value of Civil Engineering works executed in any one year during the last Five years ending 31st March of the previous financial year (updated by giving 8% simple weightage per year to bring them to Current Financial Year price level). - N = Number of years prescribed for completion of the works for which tenders are invited (period up to 6 months to be taken as half-year and more than 6 months as one year). - B = Value of existing commitments i.e. agreemented works with agreement number & year and ongoing works with agreement number & year to be completed during the period of completion of the project for which tenders are invited. Additionally, the bid capacity required also includes: 1. Turnover: The bidder should have an average annual financial turnover of at least 30% of the COST OF WORK (without G.S.T) during the last 3 years, ending 31st March of the previous financial year. Formula: Average Annual Turnover ≥ 0.3 * COST OF WORK (without G.S.T) 2. Financial Soundness (Profitability): The bidder should submit audited financial statements, including Balance sheet and Profit & Loss A/c, supported by Income Tax Returns for the last 3 financial years. 3. Similar Work: The bidder should have executed similar work in the past. The Bidder should have the Assessed available Bid capacity as per this formula, which should be greater than the Estimated Value of the work.