INVITATION FOR BID (IFB)
Section I: Invitation For Bids (IFB):Version2
Page 3 of 5
Notes for Clause 1.0 above:
The word “executed” means the Bidder should have achieved the criteria specified in the qualifying
requirements at Clause 1.0, even if the contract has been started earlier and/or is not completed/ closed
and shall be considered as below.
Case-I: The work is started earlier (prior to the period stipulated in Clause-1.0, but completed within the
stipulated period as mentioned in clause 1.0. In such cases, entire executed value of the relevant work
vide that work order shall be considered for evaluation.
Case-II: The work is started and completed within the stipulated period as mentioned in clause 1.0
Case-III: The work is started within the stipulated period as mentioned in clause 1.0 but not completed as
on the last date of stipulated period. In such cases, “In Progress” executed value of the relevant work
vide that work order as on the last date of stipulated period, shall be considered for evaluation.
Remarks: Any of the above cases shall be supported by documentary evidence issued by the “Owner”.
"Owner" means the entity which has the original requirement of the subject work and has initiated and
awarded the work to the contractor (bidder) for executing the reference work against which the
credentials have been submitted.
And the "Owner" defined as above is not a contractor to any other entity for the reference work. In case,
the bidder has worked as approved sub-Contractor/sub-vendor, he has to provide documentary evidence
issued by the "Owner"
2.0 Financial Criteria
The average annual turnover of the Bidder, in the preceding three (3) financial years as on the date of
Techno-Commercial bid opening, should not be less than Rs 4968.39 Lakhs. ( Rupees Four Thousand Nine
Hundred Sixth Eight Lakh Thirty Nine Thousand only )
In case a bidder does not satisfy the financial criteria, stipulated above on its own, its Holding Company
would be required to meet the stipulated turnover requirements above, provided that the net worth of
such Holding Company as on the last day of the preceding financial year is at least equal to or more than
the paid-up share capital of the Holding Company. In such an event, the bidder would be required to
furnish along with its Techno-Commercial bid, a Letter of Undertaking from the Holding Company,
supported by the Holding Company’s Board Resolution as per the format enclosed in the bid documents,
pledging unconditional and irrevocable financial support for the execution of the Contract by the Bidder
in case of award.
The Net Worth of the bidder as on the last day of the preceding financial year (reckoned on the
date of techno-commercial bid opening) should not be less than 100% of the Bidder’s paid-up share
capital. In case the Bidder meets the requirement of Net worth based on the strength of its Subsidiary
(ies) and/or Holding Company and/or Subsidiaries of its Holding companies wherever applicable, the
Net worth of the Bidder and its subsidiary (ies) and/or Holding Company and/or subsidiary (ies) of the
Holding Company, in combined manner should not be less than 100% of their total paid-up share
capital. However individually, their Net worth should not be less than 75% of their respective paid-up