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
2.1 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 41.07 Crores. (
Rupees Forty One Crore Seven Lakhs 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 B bidder in case of award.
2.2 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,