Department Of Rural Development And Panchayats Tender

The bid capacity required in the given tender can be calculated using the formula: Assessed Available Bid capacity = (A*N*M – B) Where: A = Maximum value of civil engineering works executed in any one year during the last five years (updated to the price level of the last year at the rate of 8 percent simple interest a year) N = 1, if Completion time is more than 6 months, N=0.5 if completion time is less than equal to six months. M = 3 B = Value, at the current price level, of existing commitments and on-going works to be completed during the period of completion of the works for which bids are invited. Alternatively, for bids up to a certain amount (Rs. 200 lakhs), the applicant should have an annual turnover of at least 60% of the amount put to bid, and for bids above that amount, the applicant should have an annual turnover of at least 75% of the amount put to bid. Formulas: - For bids up to Rs. 200 lakhs: 60% of bid amount - For bids above Rs. 200 lakhs: 75% of bid amount