Maharashtra Industrial Development Corporation Tender

The bid capacity required in the given tender to bid can be calculated using the formula: Assessed Available Bid capacity = (A*N*2 - B) Where: A = Maximum value of civil/electrical/mechanical engineering works executed in anyone year during the last five years (updated at 10% per annum (Compounded) by multiplying values with applicable factor i.e. 1.1, 1.21, 1.33, 1.46 & 1.61 as the case may be) N = Number of years prescribed for completion of the works for which bids are invited. B = Value (updated at 10% per annum (Compounded) by multiplying values with applicable factor i.e. 1.1, 1.21, 1.33, 1.46 & 1.61 as the case may be) of existing commitments and on-going works to be completed during the next … Years (period of completion of the Works for which bids are invited) Alternatively, the bid capacity required in the given tender to bid can also be calculated using the formula: (A x N x 2) – B Where: A = Maximum of the updated values of works executed in one of the preceding 5 years. B = Value of existing commitment of works (on-going or to be completed in the period stipulated for completion of the work in the present tender). N = Number of years prescribed for completion of the project for this work. The value of A is updated by multiplying the original value with a factor of 1.1, 1.21, 1.331, 1.46, or 1.61, depending on the number of years since the work was executed. Additionally, the bidder should have a minimum bid capacity of more than the total bid value, and the available bid capacity should be more than the total bid value. Also, the bidder should have liquid assets and/or availability of credit facilities of not less than 25 % of contract value indicated in tender document. The bidder should also demonstrate availability of key and critical equipment for this work, and personnel with adequate experience as required. The annual turnover of the bidder should not be less than 75% of Annual Cost of the work. (Only for unregistered contractor) (Annual cost of Work = Estimated Cost of work/ Time limit in years)