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CENTRAL INSTITUTE OF TECHNOLOGY ... - CIT, Kokrajhar...

CENTRAL INSTITUTE OF TECHNOLOGY ... - CIT, Kokrajhar...

CENTRAL INSTITUTE OF TECHNOLOGY ... - CIT, Kokrajhar...

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Further during this process if any BIDDER indicates the price during theclarification such bids also will not be considered for further evaluation.(vii) The Financial Bids of the vendors who‟s Technical Bids are found to betechnically deficient or do not meet the qualification criteria as specified inthis tender will not be considered for evaluation of Financial Bids and thesame shall be returned to them without opening along with their EMD.17. Evaluation of Financial BidAssignment of marks to the Financial Bids will be done as follows: Once all the FinancialBids (of eligible bidders as mentioned above) have been opened, marks will be assignedto each Financial Bid as per the formula below:Marks assigned to Financial Bid = 100 * [Fl/Fi]Where;i) Fl = Lowest Financial Bid of all the bids openedii) Fi = Actual Financial Bid submitted by a bidderThus, if Fl Rs. 100 and F1 is Rs. 120, then Fl will receive 100 marks and F1 will receive100*[100/120] or 83 marks.18. Ranking of BiddersFor the purpose of ranking the bids, a weightage of 70:30 for the technical and financialproposal respectively will be given to determine the ranking of bidders. The compositescore of a bidder shall be calculated as under:Normalized Technical Score=100*[Ti/Th]Where;Ti = Actual Technical score obtained by a bidder i.e. total score of 70 (Seventy)or moreTh= the highest technical scorer of all the bids opened.Thus, if Th is 90 and T1 is 80, then Th will receive 100 marks and T2 will receive100*[80/90] or 88 marks.Composite Score = 0.7 x Normalized Technical Score + 0.3 x Normalized financialScoreThe Best Value Bid will be the one with the highest Composite Score. In the event ifcomposite bid scores are tied, the bidder securing the highest technical score will beadjudicated as the Best Value Bidder for award of the Project, and the one with thenext highest technical score the Second Best Value Bidder.8

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