Firm that has completed at least Two (02) projects of similar size and complexity as a contractor or management contractor with a minimum value of as per 3.0 M cash flow/ turn over that has been successfully or is substantially completed and that are similar to the proposed works. The similarity shall be based on the physical size, complexity, methods, technology or other characteristics as indicated in these Bidding Documents. (Letter of Award & Completion Certificates are must to be provided). FINANCIAL COMPETENCE AND ACCESS TO FINANCIAL RESOURCES The financial position of the bidder shall be checked as per following details: SOUNDNESS AND ACCESS TO FINANCIAL RESOURCES: “The Bidder must demonstrate access to, or availability of, financial resources such as liquid assets, unencumbered real assets, of credits, and other financial means, other than any contractual advance payments, to meet the financial requirements of the contract in the amount of his bid. As a minimum the Bidder must show that his resources, in term of at least his latest years working capital and line of credits, will be adequate to cover an amount equivalent to his bid price and current work commitments i.e. [Working capital + Project specific lines of credit*– current contract commitments] > Working capital is the difference between current assets and current liabilities and measures the firm’s ability to generate cash in the short term.” *Any line of credit indicated for this (tendered) project needs to have been certified by the Bank and the said certificate is enclosed with this Appendix. Only that Credit line Certificate shall be considered which shall be issued within Six (06) months of the date of submission of Bid.
and/or testing as a Variation in accordance with Sub-Clause 10.2. 10. VARIATIONS AND CLAIMS 10.1 Right to Vary The Employer/Engineer may issue Variation Order(s) in writing. Where for any reason it has not been possible for the Employer/Engineer to issue such Variations Order(s), the Contractor may confirm any verbal orders given by the Employer/Engineer in writing and if the same are not refuted/denied by the Employer/Engineer within seven (7) days of the receipt of such confirmation the same shall be deemed to be a Variation Orders for the purposes of this 10.2 Valuation of Variations Variations shall be valued as follows: a) at a lump sum agreed between the Parties, or b) where appropriate, at rates in the Contract, or c) in the absence of appropriate the rates in the Contract shall be used as the basis for valuation, or failing which d) at appropriate new rates, as may be agreed or which the Engineer/Employer considers appropriate, or e) if the Engineer/Employer so instructs, at day work set out in the Contract Data for which the Contractor shall keep records of hours of labour and Contractor’s Equipment, and of Materials, used. 10.3 Early Warning The Contractor shall notify the Engineer/Employer in writing as soon as he is aware of any circumstance which may delay or disrupt the Works, or which may give rise to a claim for additional payment. To the extent of the Contractor’s failure to notify, results to the Engineer/Employer being unable to keep all relevant records or not taking steps to minimise any delay, disruption, or Cost, or the value of any Variation, the Contractor’s entitlement to extension of the Time for Completion or additional payment shall be reduced/rejected. 10.4. Valuation of Claims If the Contractor incurs Cost as a result of any of the Employer’s Risks, the Contractor shall be entitled to the amount of such Cost. If as a result of any Employer’s Risk, it is necessary to change the Works, this shall be dealt with as a Variation subject to Contractor’s notification for intention of claim to the Clause.