Corporation Of Chennai Tender

Class I

The Bid capacity required in the given tender to bid 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) N = Number of years prescribed for completion of works for which bids are invited 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. The condition for bid capacity is: Bid capacity > Value of the work. In this case, N = 1 year. The available bid capacity will be calculated as under: Assessed Available Bid capacity = (A x N x 1.5 - B) Bidders who meet the minimum qualification criteria will be qualified only if their available bid capacity is more than the total bid value. Additionally, the bidder should have an average annual financial turnover of at least 50% of the estimated cost over the last 5 years, working capital sufficient to finance at least 30% of the value put to tender, and successfully completed similar building works during the last five years. The formulas for calculating the bid capacity can be summarized as follows: - Financial Turnover Requirement: 0.5 * Estimated Cost - Working Capital Requirement: 0.3 * Tender Value - Similar Works Experience Requirement: - 3 works * 0.4 * Estimated Cost - 2 works * 0.5 * Estimated Cost - 1 work * 0.8 * Estimated Cost The Bid capacity should be greater than the value of the work.