Excise And Taxation Department Tender

The bid capacity required in the given tender to bid having value is specified in terms of the reserve license fee for the group. The bidder needs to fill in the reserve license fee for the group in figures (in Rs.). The formulas provided for the bid are: - EMD = 3% of reserve price - Security Money = 15% of discovered license fee - Additional Security = 10% of (discovered license fee - reserve price), if discovered license fee exceeds reserve price by 20% Additionally, the bid price shall be in Indian Rupees, and if there is a discrepancy between words and figures, the amount in words will prevail. If there is no bid quoted or the bid is less than the reserve price of the group, the bid shall be declared as disqualified. Other requirements include an Earnest Money Deposit (EMD) of 3% of the reserve price for one group, and for more than one group, 3% of EMD for each group, and a non-refundable participation fee of Rs. 5,00,000. However, a specific mathematical formula for calculating the bid capacity is not provided.