Common use of Financial Clause in Contracts

Financial. i. experience of having successfully executed: a) three similar works, each costing not less than the amount equal to 20% of the probable amount of contract during the last 5 financial years; or b) two similar works each costing not less than the amount equal to 30% of the probable amount of contract during the last 5 financial years; or c) one similar work of aggregate cost not less than the amount equal to 50% of the probable amount of contract during the last 5 financial years; ii. Average annual construction turnover on the construction works not less than 50% of the probable amount of contract during the last 5 financial years. iii. Executed similar items of work in any one financial year during the last 5 financial years, which should not be less than the minimum, physical requirement, if any, fixed for the work. iv. Bid Capacity – Bidder shall be allotted work up to his available bid capacity which shall be worked out as given in format I-2 of Annexure-I