Common use of Financial Standing Clause in Contracts

Financial Standing. The tenderer will be qualified only if they have minimum financial capabilities as below:- (i) T1- Annual Turnover: The average annual turnover of the tenderer during last three audited financial years (2019-20, 2020-21 & 2021-22) should not be less than Rs 97.13 Lakhs The averages annual turnover of JV/Consortium will be based on percentage participation of each member. Example: Let member-1 has percentage participation = M and member-2 has percentage participation = N, Let the averages annual turnover of member-1 is A and that of member-2 is B, then average annual turnover of JV/Consortium will be = AM+BN i. Financial data for latest last three audited financial years has to be submitted by the tenderer (each member in case of JV/Consortium) in Appendix-8 of Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by Chartered Accountant with his stamp, signature, membership number & Unique Documents Identification Number (UDIN). In case audited balance sheet of the last financial year is not made available by the bidder, he has to submit an affidavit (As per format provided in Appendix-8A to form of Tender) certifying that ‘the balance sheet has actually not been audited so far’. In such a case the financial data of previous ‘2’ audited financial years will be taken into consideration for evaluation. If audited balance sheet of any other year than the last year is not submitted, the tender may be considered as non-responsive. All the documents or certificates which are provided by CA after 1st July, 2019, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online on xxxxx://xxxx.xxxx.xxx/search- UDIN. However, the tenderer including all substantial members of JV / Consortium should have been incorporated more than three years earlier from the last day of the previous month of tender submission. In case financial statements for any of the financial year is not required to be audited as per any relevant section of the Income Tax Act, then, same should be supported by CA (Chartered Accountant) certificate along with all the GST returns, ITR-3/4 (including all the forms) and form 26AS for each of the financial year not liable to be audited as per relevant section of the income tax Act. Any certification or document required to be provided by CA, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online. ii. Where a work is undertaken by a group, only that portion of the contract which is undertaken by the concerned applicant/member should be indicated and the remaining done by the other members of the group be excluded. This is to be substantiated with documentary evidence.

Financial Standing. The tenderer will be qualified only if they have minimum financial capabilities as below:-below :- (i) T1- Annual Turnover: The average annual turnover of the tenderer turnoverof thetenderer during last three audited financial years (20192016-2017, 20202017-21 & 202118 and 2018-2219) should not be less than Rs 97.13 Lakhs ₹122.66 lakhs. The averages annual turnover of JV/JV/ Consortium will be based on percentage participation of each member. Example: Let member-1 has percentage participation = M and member-2 has percentage participation = N, Let the averages annual turnover of member-1 is A and that of member-2 is B, then average annual turnover of JV/JV/ Consortium will be = AM+BN i. AM+BN  Financial data for latest last three audited financial years has to be submitted uploaded by the tenderer (each member in case of JV/Consortium) in Appendix-8 Appendix-16 of Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by Chartered Accountant with his stamp, signature, membership number & and Unique Documents Document Identification Number (UDIN). In case audited balance sheet of the last financial year is not made available by the bidder, he has to submit an affidavit (As per format provided in Appendix-8A Appendix-16A to form of Tender) certifying Tender)certifying that ‘the balance sheet has actually not been audited so far’. In such a case the financial data of previous ‘2’ audited financial years will be taken into consideration for evaluation. If audited balance sheet of any other year than the last year is not submitteduploaded, the tender may will be considered as non-responsive. All the documents or certificates which are provided by CA after 1st July, 2019, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online on xxxxx://xxxx.xxxx.xxx/search- UDIN. However, the tenderer including all substantial members of JV / Consortium should have been incorporated more than three years earlier from the last day of the previous month of tender submission. In case financial statements for any of the financial year is not required to be audited as per any relevant section of the Income Tax Act, then, same should be supported by CA (Chartered Accountant) certificate along with all the GST returns, ITR-3/4 (including all the forms) and form 26AS for each of the financial year not liable to be audited as per relevant section of the income tax Act. Any certification or document required to be provided by CA, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online. ii.  Where a work is undertaken by a group, only that portion of the contract which is undertaken by the concerned applicant/member should be indicated and the remaining done by the other members of the group be excluded. This is to be substantiated with documentary evidence.

Financial Standing. The tenderer will be qualified only if they have minimum financial capabilities as below:-below :- (i) T1- Annual Turnover: The average annual turnover of the tenderer during last three audited financial years (20192016-2017, 20202017-21 & 202118 and 2018-2219) should not be less than Rs 97.13 Lakhs ₹14.27 lakhs. The averages annual turnover of JV/JV/ Consortium will be based on percentage participation of each member. Example: Let member-1 has percentage participation = M and member-2 has percentage participation = N, Let the averages annual turnover of member-1 is A and that of member-2 is B, then average annual turnover of JV/JV/ Consortium will be = AM+BN i. AM+BN / 100  Financial data for latest last three audited financial years has to be submitted uploaded by the tenderer (each member in case of JV/JV/ Consortium) in Appendix-8 Appendix-16 of Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by Chartered Accountant with his stamp, signature, stamp and signature in original with membership number & Unique Documents Identification Number (UDIN)number. In case audited balance sheet of the last financial year is not made available by the bidder, he has to submit an affidavit (As per format provided in Appendix-8A Appendix-16A to form of Tender) certifying that ‘the balance sheet has actually not been audited so far’. In such a case the financial data of previous ‘2’ audited financial years will be taken into consideration for evaluation. If audited balance sheet of any other year than the last year is not submitteduploaded, the tender may will be considered as non-responsive. All the documents or certificates which are provided by CA after 1st July, 2019, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online on xxxxx://xxxx.xxxx.xxx/search- UDIN. However, the tenderer including all substantial members of JV / Consortium should have been incorporated more than three years earlier from the last day of the previous month of tender submission. In case financial statements for any of the financial year is not required to be audited as per any relevant section of the Income Tax Act, then, same should be supported by CA (Chartered Accountant) certificate along with all the GST returns, ITR-3/4 (including all the forms) and form 26AS for each of the financial year not liable to be audited as per relevant section of the income tax Act. Any certification or document required to be provided by CA, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online. ii.  Where a work is undertaken by a group, only that portion of the contract which is undertaken by the concerned applicant/member should be indicated and the remaining done by the other members of the group be excluded. This is to be substantiated with documentary evidence. (a) to 1.2.2 (b) shall not imply that his bid shall automatically be accepted. The same should contain all technical data as required for consideration of tender prescribed in the ITT.

Financial Standing. The tenderer tenderers will be qualified only if they have minimum financial capabilities as below:-below :- (i) T1- Annual Turnover: The average annual turnover of the tenderer during last three audited financial years (20192015-2016, 20202016-21 & 202117 and 2017-2218) should not be less than Rs 97.13 Lakhs Rs. 04.26 Lacs. Financial data for the last three audited financial years has also to be uploaded by the tenderer (each member in case of JV) in Appendix-16 Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by chartered accountant with his stamp, signature and membership number. Also, if the tenderer provides no or NIL financial data for any of the above financial year, then his application shall not be considered and summarily rejected. The averages annual turnover of JV/Consortium JV will be based on percentage participation of each member. Example: Let member-1 has percentage participation = M and member-2 has percentage participation = N, Let the averages annual turnover of member-1 is A and that of member-2 is B, then average annual turnover of JV/Consortium JV will be = AM+BN i. AM+BN  Financial data for latest last three audited financial years has to be submitted uploaded by the tenderer (each member in case of JV/Consortium) in Appendix-8 Appendix-16 of Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by Chartered Accountant with his stamp, stamp and signature, membership number & Unique Documents Identification Number (UDIN). In case audited balance sheet of the last financial year is not made available by the bidder, he has to submit an affidavit (As per format provided in Appendix-8A to form of Tender) certifying that ‘„the balance sheet has actually not been audited so far’. far‟. In such a case the financial data of previous ‘2’ „2‟ audited financial years will be taken into consideration for evaluation. If audited balance sheet of any other year than the last year is not submitteduploaded, the tender may will be considered as non-responsive. All the documents or certificates which are provided by CA after 1st July, 2019, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online on xxxxx://xxxx.xxxx.xxx/search- UDIN. However, the tenderer including all substantial members of JV / Consortium should have been incorporated more than three years earlier from the last day of the previous month of tender submission. In case financial statements for any of the financial year is not required to be audited as per any relevant section of the Income Tax Act, then, same should be supported by CA (Chartered Accountant) certificate along with all the GST returns, ITR-3/4 (including all the forms) and form 26AS for each of the financial year not liable to be audited as per relevant section of the income tax Act. Any certification or document required to be provided by CA, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online. ii.  Where a work is undertaken by a group, only that portion of the contract which is undertaken by the concerned applicant/member should be indicated and the remaining done by the other members of the group be excluded. This is to be substantiated with documentary evidence. (a) to 1.2.2 (b) shall not imply that his bid shall automatically be accepted. The same should contain all technical data as required for consideration of tender prescribed in the ITT.

Financial Standing. The tenderer tenderers will be qualified only if they have minimum financial capabilities as below:-below :- (i) T1- Annual Turnover: The average annual turnover of the tenderer during last three audited financial years (20192015-2016, 20202016-21 & 202117 and 2017-2218) should not be less than Rs 97.13 Lakhs ₹ 2.87 Lakh. Financial data for the last three audited financial years has also to be uploaded by the tenderer (each member in case of JV) in Appendix-16 Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by chartered accountant with his stamp, signature and membership number. Also, if the tenderer provides no or NIL financial data for any of the above financial year, then his application shall not be considered and summarily rejected. The averages annual turnover of JV/Consortium JV will be based on percentage participation of each member. Example: Let member-1 has percentage participation = M and member-2 has percentage participation = N, Let the averages annual turnover of member-1 is A and that of member-2 is B, then average annual turnover of JV/Consortium JV will be = AM+BN i. AM+BN  Financial data for latest last three audited financial years has to be submitted uploaded by the tenderer (each member in case of JV/Consortium) in Appendix-8 Appendix-16 of Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by Chartered Accountant with his stamp, stamp and signature, membership number & Unique Documents Identification Number (UDIN). In case audited balance sheet of the last financial year is not made available by the bidder, he has to submit an affidavit (As per format provided in Appendix-8A to form of Tender) certifying that ‘the balance sheet has actually not been audited so far’. In such a case the financial data of previous ‘2’ audited financial years will be taken into consideration for evaluation. If audited balance sheet of any other year than the last year is not submitteduploaded, the tender may will be considered as non-responsive. All the documents or certificates which are provided by CA after 1st July, 2019, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online on xxxxx://xxxx.xxxx.xxx/search- UDIN. However, the tenderer including all substantial members of JV / Consortium should have been incorporated more than three years earlier from the last day of the previous month of tender submission. In case financial statements for any of the financial year is not required to be audited as per any relevant section of the Income Tax Act, then, same should be supported by CA (Chartered Accountant) certificate along with all the GST returns, ITR-3/4 (including all the forms) and form 26AS for each of the financial year not liable to be audited as per relevant section of the income tax Act. Any certification or document required to be provided by CA, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online. ii.  Where a work is undertaken by a group, only that portion of the contract which is undertaken by the concerned applicant/member should be indicated and the remaining done by the other members of the group be excluded. This is to be substantiated with documentary evidence. (a) to 1.2.2 (b) shall not imply that his bid shall automatically be accepted. The same should contain all technical data as required for consideration of tender prescribed in the ITT.

Financial Standing. The tenderer will be qualified only if they have minimum financial capabilities as below:-below :- (i) T1- Annual Turnover: The average annual turnover of the tenderer during last three audited financial years (20192016-2017, 20202017-21 & 202118 and 2018-2219) should not be less than Rs 97.13 Lakhs ₹37.97 lakhs. The averages annual turnover of JV/Consortium will be based on percentage participation of each member. Example: Let member-1 has percentage participation = M and member-2 has percentage participation = N, Let the averages annual turnover of member-1 is A and that of member-2 is B, then average annual turnover of JV/Consortium will be = AM+BN i. AM+BN 100  Financial data for latest last three audited financial years has to be submitted uploaded by the tenderer (each member in case of JV/Consortium) in Appendix-8 Appendix-16 of Form of Tender along with audited balance sheets. The financial data in the prescribed format shall be certified by Chartered Accountant with his stamp, signature, stamp and signature in original with membership number & Unique Documents Identification Number (UDIN)number. In case audited balance sheet of the last financial year is not made available by the bidder, he has to submit an affidavit (As per format provided in Appendix-8A Appendix-16A to form of Tender) certifying that ‘the balance sheet has actually not been audited so far’. In such a case the financial data of previous ‘2’ audited financial years will be taken into consideration for evaluation. If audited balance sheet of any other year than the last year is not submitteduploaded, the tender may will be considered as non-responsive. All the documents or certificates which are provided by CA after 1st July, 2019, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online on xxxxx://xxxx.xxxx.xxx/search- UDIN. However, the tenderer including all substantial members of JV / Consortium should have been incorporated more than three years earlier from the last day of the previous month of tender submission. In case financial statements for any of the financial year is not required to be audited as per any relevant section of the Income Tax Act, then, same should be supported by CA (Chartered Accountant) certificate along with all the GST returns, ITR-3/4 (including all the forms) and form 26AS for each of the financial year not liable to be audited as per relevant section of the income tax Act. Any certification or document required to be provided by CA, must contain UDIN thereon and the particulars of certifications must be same as mentioned on document/certification and submitted to ICAI on its website which can be verified online. ii.  Where a work is undertaken by a group, only that portion of the contract which is undertaken by the concerned applicant/member should be indicated and the remaining done by the other members of the group be excluded. This is to be substantiated with documentary evidence. (a) to 1.2.2 (b) shall not imply that his bid shall automatically be accepted. The same should contain all technical data as required for consideration of tender prescribed in the ITT.