Irrigation Department Tender

AA

The bid capacity required in the given tender to bid having value and formulas are: 1. Turnover: The bidder should have an average annual financial turnover of at least 30% of the cost of the work (without GST) during the last 3 years, ending 31st March of the previous financial year 2024. Formula: Average Annual Financial Turnover ≥ 0.3 * Cost of Work (without GST) 2. Similar Work: The bidder should have experience in similar works, with specific value requirements: - Three similar completed works costing not less than 40% of the estimated cost. - Two similar completed works costing not less than 50% of the estimated cost. - One similar completed work costing not less than 80% of the estimated cost. Formulas: - For three works: Total Cost of Similar Works ≥ 0.4 * Estimated Cost - For two works: Total Cost of Similar Works ≥ 0.5 * Estimated Cost - For one work: Cost of Similar Work ≥ 0.8 * Estimated Cost 3. Assessed available Bid capacity: The bidder should have the Assessed available Bid capacity as per formula (2AN-B) should be greater than the Estimated Value of the work. Formula: 2AN - B Where: A = Maximum Value of Civil Engineering works executed in any one year during the last Five years ending 31st March of the previous financial year (updated by giving 8% simple weightage per year to bring them to Current Financial Year price level) N = Number of years prescribed for completion of the works for which tenders are invited. B = Value of existing commitments i.e., agreemented works with agreement number & year and ongoing works with agreement number & year to be completed during the period of completion of the project for which tenders are invited.