Research Designs And Standards Organisation Tender

The required prior work experience for the bidder involves the completion of similar works within the last 7 years. The bidder must have successfully completed or substantially completed any of the following: - Three similar works each costing not less than 30% of the advertised value of the tender, - Two similar works each costing not less than 40% of the advertised value of the tender, - One similar work each costing not less than 60% of the advertised value of the tender. In case of tenders for composite works, the requirements are similar, with the added specification that the costs are in relation to each component of the tender. For subcontractors, they must have completed at least one work similar to the work proposed for subcontract in the last 5 years, with a cost of not less than 35% of the value of the work to be subletted, unless the subletting work costs up to Rs 50 lakh, in which case no previous work experience is required. The value of Rs 50 lakh is also mentioned as the threshold below which no technical and financial credentials are required for tenders. Substantially completed work is considered when payment equal to or more than 90% of the present contract value has been made to the contractor, with a credential certificate issued not prior to 60 days of the date of invitation of the present tender. The completion cost of work includes the Price Variation Clause (PVC) amount, and for substantially completed work, the total gross amount already paid, including the PVC amount, is considered as the cost of substantially completed work.