Municipal Corporation Tender

The bid capacity required in the given tender to bid can be calculated using the formula: (A x N x 2) – B Where: A = Maximum Annual Turnover of last five Years (as per current rate) N = Period of work in year B = Cost of work in hand (during tender period) Additionally, there are specific requirements for turnover and experience: I) Turn Over: Annual Financial turnover during the last 5 Years, ending 31st March of the previous financial year, should be at least 75% of the annual cost of this work. Annual Cost = (Total Cost of the Work) / (Completion period in years) II) Experience: a) Experience of having successfully completed Similar Work with Government /Semi Government / Municipal Corporation / any other public sector as a prime contractor during last 5 Years ending last day of month previous to the one in which tenders are invited should be either of the following - A] Three Similar Completed works costing Not less than the Amount Equal To 40% of the Estimated Cost. B] Two Similar Completed works costing Not less than the Amount Equal To 50% of the Estimated Cost. C] One Similar Completed work costing Not less than the Amount Equal To 80% of the Estimated Cost. b] Experience of having Similar Type of minimum 3 & max.5 main items in Government /Semi Government / Municipal Corporation/any other public sector as a prime contractor in tendered work during one of the last 5 years amounting to 30% of tendered main work quantity. Also, for works above 5cr, the bid capacity can be represented as: Bid Capacity = 10% of Estimated Cost Bid Capacity = 0.1 * Estimated Cost Note: For experience and turnover, a 10% increase will be considered up to the current year.