Irrigation Department Tender

Two bid capacity requirements are mentioned, each with its own set of formulas and conditions. 1. The first requirement is based on the average annual financial turnover of the bidder. The formula for this is: Average Annual Financial Turnover ≥ 0.3 * Cost of Work (without GST) 2. The second requirement is based on the Assessed available Bid capacity, calculated using the formula: 2AN - B > Estimated Value of the work Here, - 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 (or Net worth of the bidder as per last audited balance sheet in another instance) - 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 (or Value of ongoing works as per the balance sheet in another instance) Additionally, the bidder should demonstrate financial soundness by submitting audited financial statements, balance sheets, profit & loss accounts, and income tax returns for the last 3 financial years.