Corporation Of Chennai Tender

Class I Registered contractor

The bid capacity required in the given tender is calculated using the formula: Bid capacity = A x N x 1.5 - B Where: A = Maximum annual turnover in any one year during the last five years (updated to 2023-24 price level) B = Value, at price 2023-24 level, of existing commitments and on-going works to be completed during the period of completion of the works for which bids are invited N = Number of years prescribed for completion of works for which bids are invited. Additionally, the available bid capacity should be more than the total bid value. Other formulas related to bid capacity requirements are: - Average Annual Turnover: 0.5X (where X is the estimated cost of the project) - Liquid Assets/Credit Facilities: 0.3Y (where Y is the tender value of the work) - Experience: - For three similar completed works: Total Value of Similar Works ≥ 0.4 * Estimated Cost - For two similar completed works: Total Value of Similar Works ≥ 0.5 * Estimated Cost - For one similar completed work: Total Value of Similar Work ≥ 0.8 * Estimated Cost These formulas provide the requirements for bid capacity in terms of financial capability and relevant experience.