Odisha Lift Irrigation Corporation Limited Tender

The bid capacity required in the given tender can be calculated using the formula: Assessed bid capacity = (2x A x N - B) Where: A = maximum value of work executed in any one financial year during last five years (updated to the current price level) B = value at current price level of the existing commitments and ongoing works to be completed during the period of completion of works for which bids are invited N = No. of years prescribed for completion of the work for which the bids are invited. Additionally, the available bid capacity should be more than the total estimated cost put to tender, which is Rs. 1600.00 Lakhs. Another formula for qualifying quantity is: Qualifying quantity = 0.4 x (estimated quantity of work) x 12 month/ period of completion This means the bidder should have executed a minimum quantity of similar items in the last five years, which is 40% of the estimated annual quantity of execution. For example, if the estimated quantity of work is 500 nos bore well and the period of completion is 6 months, the qualifying quantity would be: 0.4 x 500 nos bore well x 12 / 6 = 400 nos bore well. The bidder should have executed at least this quantity of similar items in the last five years to qualify for the bid.