Concurrent commitment Clause Samples
Concurrent commitment. The bidder has to submit complete list of concurrent commitments on all jobs under execution by them, as per format given below, which will be taken into account to assess the spare capacity available with the bidder. If the annualized concurrent commitments of the bidder plus annualized estimated value of the work exceeds four times the average annual financial turnover during the last three financial years of the bidder, then the bid of such a bidder shall not be considered for further evaluation. Concurrent commitment of the bidder shall be evaluated as on the last day of the Month previous to bid due date, based on the confirmation/declaration of the bidders that they have disclosed all works being executed by them. Bidders shall exclude all stalled project for which there is no progress in last one year giving reason for no progress considering above cut-off date. In case any adverse report /complaint are received against bidder and on enquiry found correct, offer shall be rejected and bidder shall be liable for appropriate legal action. Sr. No Full postal address of client and Name of Officer-In-Charge Description of the Work Value of Contract Date of Commencement of Work Scheduled Completion Period % Completion as on date Remarks
Concurrent commitment. The concurrent commitments of bidder on various jobs under execution by the bidder will be considered to assess the spare capacity available with the bidder. The bidder mus t confirm that they have disclosed all the works being executed by them in the offer. I f the annualized concurrent commitments of the bidder plus annualized estimated value of the work (for single agency) / annualized estimated maximum percentage of work in split case under consideration (for mu ltiple agency) exceeds four times the average annual turnover of the bidder during the last three Financial Years, then the price bid of such a bidder shall not be recommended for opening as the bidder may no t have adequate resources to execute the tendere d work. Suppression of fact /data regard to jobs under execution will be considered as gross violation and rejection of bid including penal action such as banning/ blacklisting, as deemed fit . [Not applicable for this tender]