North Eastern Railway Tender

The bid capacity required in the given tender is 5 percent of the value of work awarded. The formulas related to bid capacity are: Security Deposit = 5% of the value of work awarded Earnest Money = Part of Security Deposit Balance Security Deposit = 5% of the value of work awarded - Earnest Money Recovery of Balance Security Deposit = 6% of account bills of the work Additionally, the tender requires the bidder to have successfully completed similar works in the last 7 years, with a value equal to or more than a certain percentage of the advertised value of the tender, which includes: - Three similar works costing not less than 30% of the advertised value of the tender, - Two similar works costing not less than 40% of the advertised value of the tender, - One similar work costing not less than 60% of the advertised value of the tender. The average annual contractual turnover required is calculated as an average of "total contractual payments" in the previous three financial years, as per the audited balance sheet, using the formula: Average Annual Contractual Turnover = (Total Contractual Payments in previous 3 years) / 3. The minimum average annual contractual turnover required is V/N or 'V' whichever is less; where V = Advertised value of the tender in crores of Rupees and N = Number of years prescribed for completion of work for which bids have been invited.