As the minimum requirement, an Applicant’s net calculated as the difference between total assets and total liabilities should be positive. Minimum average annual construction turnover of Average Annual USD calculated as [insert amount in USD], Construction certified payments received for contracts in progress Form FIN-2 Turnover and/or completed, within the last five (5) years, divided by five (5) years. 4. Financial Resources Factor Compliance Requirement The Applicant shall demonstrate that it has access to, or has available, liquid assets, unencumbered real assets, lines of credit, and other financial means (independent of any contractual advance payment) Form FIR-1 sufficient to meet the construction cash flow requirements estimated as USD [insert amount in Financial for the subject contract(s) net of the USD] Resources Applicant’s other commitments. The Applicant shall also demonstrate, to the satisfaction of the Client, that it has adequate sources Form FIR-1 of finance to meet the cash flow requirements on and FIR-2 works currently in progress and for future contract commitments. 5. Experience Factor Compliance Requirement Experiences under construction contracts specified below, in the role of prime contractor (single entity or General JV member), subcontractor, or management contractor Construction Form EXP-1 for the last three (3) calendar years. Experience each of minimum value of USD Five (5) contracts, [insert amount in USD]. Experiences of similar(i) contracts specified below, that have been satisfactorily and substantially(ii) completed Specific as a prime contractor (single entity or JV member(iii)) Construction Form EXP-2 for the last five (5) calendar years. Experience each of minimum of USD Five (5) contracts, [insert amount in USD]. Notes for the Applicant (i) The similarity shall be based on the physical size, complexity, methods/technology and/or other characteristics described in Section IV, Scope of Works. Summation of number of small value contracts (less than the value specified under requirement) to meet the overall requirement will not be accepted. (ii) Substantial completion shall be based on 80% or more of the works completed under the contract.
As the minimum requirement, an Applicant’s net calculated as the difference between total assets and total liabilities should be positive. Average Annual Construction Turnover Minimum average annual construction turnover of USD [insert amount in USD], calculated as certified payments received for contracts in progress and/or completed, within the last five (5) years, divided by five (5) years. Form FIN-2 4. Financial Resources Factor Compliance Requirement Financial Resources The Applicant shall demonstrate that it has access to, or has available, liquid assets, unencumbered real assets, lines of credit, and other financial means (independent of any contractual advance payment) sufficient to meet the construction cash flow requirements estimated as USD [insert amount in USD] for the subject contract(s) net of the Applicant’s other commitments. Form FIR-1 The Applicant shall also demonstrate, to the satisfaction of the Client, that it has adequate sources of finance to meet the cash flow requirements on works currently in progress and for future contract commitments. Form FIR-1 and FIR-2 5. Experience Factor Compliance Requirement General Construction Experience Experiences under construction contracts specified below, in the role of prime contractor (single entity or JV member), subcontractor, or management contractor for the last three (3) calendar years. Five (5) contracts, each of minimum value of USD [insert amount in USD]. Form EXP-1 Specific Construction Experience Experiences of similar(i) contracts specified below, that have been satisfactorily and substantially(ii) completed as a prime contractor (single entity or JV member(iii)) for the last five (5) calendar years. Five (5) contracts, each of minimum of USD [insert amount in USD]. Form EXP-2 Notes for the Applicant (i) The similarity shall be based on the physical size, complexity, methods/technology and/or other characteristics described in Section IV, Scope of Works. Summation of number of small value contracts (less than the value specified under requirement) to meet the overall requirement will not be accepted. (ii) Substantial completion shall be based on 80% or more of the works completed under the contract.