Irrigation Department Tender

The bid capacity required in the given tender to bid having value is as follows: 1. Annual Financial turnover: not less than 75% of estimated value of work in any one year during last three financial years, updated to current financial year price level at 8% per annum. 2. Experience of Similar Work: a) Three similar completed works costing not less than 40% of the estimated cost, b) Two similar completed works costing not less than 50% of the estimated cost, c) One similar completed work costing not less than 80% of the estimated cost. The formula for updating the value to the current year price level is: Updated value = (Original value) x (1 + 8/100)^n, where n is the number of years between the original year and the current year. The bid capacity formula is 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 2024 (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. agreed 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. The Bidder should have the Assessed available Bid capacity as per formula (2AN-B) should be greater than the Estimated Value of the work.