Local Self Government Department Tender

The bid capacity required in the given tender to bid having value and formulas are as follows: 1. Labour component: - Lo = the consumer price index for industrial workers for the State on 28 days preceding the date of opening of Bids - Li = The consumer price index for industrial workers for the State for the period under consideration - Pl = Percentage of labour component of the work 2. Cement component: - Vc = 0.85 x Pc/100 x R x (Ci - Co)/Co - Co = The all India average wholesale price index for Grey cement for on 28 days preceding the date of opening of Bids - Ci = The all India average wholesale price index for Grey cement for the month under consideration - Pc = Percentage of cement component of the work 3. Bitumen component: - Vb = 0.85 x Pb/100 x R x (Bi - Bo)/Bo - Bo = The official retail price of bitumen at the IOC depot at nearest centre on the day 28 days prior to date of opening of Bids - Bi = The average official retail price of bitumen at IOC depot at nearest centre for the 15th day of calendar month under consideration - Pb = Percentage of bitumen component of the work 4. Steel component: - Vs = 0.85 x Ps/100 x R x (Si - So)/So - So = The all India average wholesale price index for steel for on 28 days preceding the date of opening of Bids - Si = The all India average wholesale price index for steel for the month under consideration - Ps = Percentage of steel component of the work Additionally, the total Performance Guarantee is 5% of the contract amount, out of which at least 50% should be in the form of a Treasury Fixed Deposit, and the remaining can be in the form of a bank guarantee. The Performance Security Deposit is 2.5% of the value of work done, which will be deducted at 2.5% from the running bills.