Himachal Pradesh Irrigation And Public Health Department Tender

Bid capacity = (A*N*M - B) Where: A = Maximum value of civil engineering works executed in any one year during the last 5 years (updated to the price level of the financial year in which bids are received at simple rate of 7 percent a year) taking into account the completed as well as works in progress. N = Number of years prescribed for completion of the works for which bids are invited (period up to 6 months to be taken as half-year and more than 6 months as one year). M = 1.5 (One and half) B = Value, at the current price level, of existing commitments and on-going works to be completed during the period of completion of the works for which bids are invited. The bid capacity required in the given tender can also be calculated using the following formulas: - For works costing Rs.2 lac or less: 10% of the tendered amount - For works costing between Rs.2 lac and 5 lac: 10% + 7.5% of the tendered amount - For works costing between Rs.5 lac and 50 lac: 10% + 7.5% + 5% of the tendered amount - For works costing above Rs.50 lac: 10% + 7.5% + 5% + 2.5% of the tendered amount (without any limit) Given the estimated cost of the work is Rs. 5,99,21,883/-, the security deposit can be calculated as follows: - Since the estimated cost is above Rs.50 lac, the formula to be used is: 10% + 7.5% + 5% + 2.5% of the tendered amount - However, the tender also mentions a uniform rate of 10% of the tendered amount subject to a maximum of Rs. 10 lakh only. Using the uniform rate, the security deposit would be: 10% of Rs. 5,99,21,883/- = Rs. 59,92,188.30, which is above the maximum limit of Rs. 10 lakh. Therefore, the bid capacity required in the given tender is a security deposit of Rs. 10 lakh. The financial qualification requires the bidder to have achieved a minimum average annual financial turnover of 30% of the estimated cost in the last 3 financial years. The experience of similar nature of work requires the bidder to have completed similar work during the last 7 years, with the following values: - Three similar completed works costing not less than 40% of the estimated cost - Two similar completed works costing not less than 50% of the estimated cost - One similar completed work costing not less than 80% of the estimated cost The value of executed work shall be brought to the current costing level by enhancing the actual value of work at a simple rate of interest of 7% per annum, calculated from the date of completion to the previous day of the last date of submission of the tender. Current Value = Actual Value * (1 + (7%/year) * time in years) Where "time in years" is the period from the date of completion of the work to the day before the last date of submission of the tender.