the laws of the country, Bidder’s other financial statements acceptable to the Employer, for the last [insert number years of years] shall be submitted and must demonstrate the current soundness of the Bidder’s financial position and indicate its prospective profitability. Time period usually specified is 5 years; it may be reduced to three years minimum (in agreement with the Bank) under special country circumstances, such as to provide opportunity for a newly privatized construction industry with limited period of existence, but with suitable experience, etc. Firms owned by individuals and partnerships may not be required to maintain audited balance sheets by the laws of their countries of origin; in such cases, the Employer may relax the audit requirement, but should request other acceptable financial statements. 3.2 Average Annual Minimum average Must meet Must meet Must meet Must meet Form FIN 3.2 – annual requirement requirement Construction ________%, __________%, Turnover construction ___________of ___________of turnover of US$ the requirement the requirement [insert amount], calculated as total certified payments received for
the laws of the Bidder’s country, other financial statements acceptable to the Employer, for the last [insert number of years] years shall be submitted and must demonstrate the current soundness of the Bidder’s financial position and indicate its prospective profitability. Time period usually specified is 5 years; it may be reduced to three years minimum (in agreement with the Bank) under special country circumstances, such as to provide opportunity for a newly privatized construction industry with limited period of existence, but with suitable experience, etc. Firms owned by individuals and partnerships may not be required to maintain audited balance sheets by the laws of their countries of origin; in such cases, the Employer may relax the audit requirement, but should request other acceptable financial statements. 3.2 Average Annual Construction Turnover Minimum average annual construction turnover of US$ [insert amount], calculated as total certified payments received for Must meet requirement Must meet requirement Must meet ________%, ___________of the requirement Must meet __________%, ___________of the requirement Form FIN – 3.2
Proc-of-Works-and-user-guide-EN-Apr2015.docx