Municipal Corporation Tender

The bid capacity required in the given tender to bid is calculated using the formula: Assessed available tender capacity = (A*N*1.5 - B) Where: A = Maximum value of lighting works executed in any one year during the last five years N = Number of years prescribed for completion of the works for which tenders are invited = 0.666 years B = Value, at 2023-24 price level, of existing commitments and on-going works to be completed during the next one year. Additionally, the bid capacity required to bid has the following conditions and formulas: (a) The bidder must have a minimum financial turnover in lighting works value of 30% of the Tender Estimated cost. Formula: Minimum financial turnover = 30% of Tender Estimated cost (b) In the last 5 years, the Bidder Must have: - Completed at least ONE similar work of minimum costing of 80% of the Tender Estimated Value - Completed at least TWO similar work of minimum costing of 50% of the Tender Estimated Value - Completed at least THREE similar work of minimum costing of 40% of the Tender Estimated Value Formulas: - Minimum cost for one similar work = 80% of Tender Estimated Value - Minimum cost for two similar works = 50% of Tender Estimated Value - Minimum cost for three similar works = 40% of Tender Estimated Value Given the Tender Estimated Value is Rs. 4,44,68,534, the formulas can be calculated as: - Minimum financial turnover = 30% of Rs. 4,44,68,534 = Rs. 1,33,40,560 - Minimum cost for one similar work = 80% of Rs. 4,44,68,534 = Rs. 3,55,74,827 - Minimum cost for two similar works = 50% of Rs. 4,44,68,534 = Rs. 2,22,34,267 - Minimum cost for three similar works = 40% of Rs. 4,44,68,534 = Rs. 1,77,87,414 The bid capacity required in the given tender is also calculated based on the average turnover of the tenderer in the last 5 years, which should be at least 30% of the tender estimate value. The formula for calculating the bid capacity is: Bid Capacity = Average Turnover of last 5 years / Tender Estimate Value ≥ 0.3 Where: * Average Turnover of last 5 years = (Turnover of 2019-20 + Turnover of 2020-21 + Turnover of 2021-22 + Turnover of 2022-23 + Turnover of 2023-24) / 5 * Tender Estimate Value = The estimated value of the tender. Therefore, the tenderer should have a minimum average turnover of 30% of the tender estimate value in the last 5 years to be eligible to bid.