Tender document — White Topping of Selected Roads under GoK Grants, Package-2 (BBMP, Project Central-8)

Comprehensive Development of Selected Roads by Providing
White Topping Under GoK Grants Package - 2 Technical Bid
Tenderer Page 58 of 65 Executive Engineer,
PC-8, BBMP, Bengaluru
40. Price Adjustment Formula:
R = Value of Work as defined in Clause 40.1 of Conditions of Contract.
Adjustment for Labour Component
i. Price Adjustment for increase or decrease in the Cost due to Labour shall be paid in accordance
with the following Formula.
VL = 0.85 X PL / 100 X R X (Li – Lo) / Lo
Where
VL = Increase or Decrease in the Cost of Work during the Quarter under consideration due to
Changes in Rates for Local Labour
Lo = The Average Consumer Price Index for Industrial Workers for Bangalore Centre for the
Quarter preceding the Date of Opening of Tenders as published by the Labour Bureau,
Ministry of Labour, Government of India
Li = The Average Consumer Price Index for Industrial Workers for Bangalore Centre for the
Quarter under consideration as published by Labour Bureau, Ministry of Labour,
Government of India
PL = Percentage of Labour Component of the Work
Adjustment for Cement Component
ii. Price Adjustment for Increase or Decrease in the Cost of Cement Component procured by the
Contractor shall be paid in accordance with the following Formula.
VC = 0.85 X PC / 100 X R X (Ci – Co) / Co
Where
VC = Increase or Decrease in the Cost of the Work during the Quarter under consideration
due to Changes in the Rates for Cement
Co = The All India Average Wholesale Price Index for Cement (Ordinary Portland Cement)
for the Quarter preceding the Date of Opening of the Tenders as published by the Office
of Economic Advisor, Ministry of Commerce and Industry, Government of India, New
Delhi
Ci = The All India Average Wholesale Price Index for Cement (Ordinary Portland Cement) for
the Quarter under consideration as published by the Office of Economic Advisor,
Ministry of Commerce and Industry, Government of India, New Delhi
PC = Percentage of Cement Component of the Work
Adjustment for Steel Component
iii. Price Adjustment for Increase or Decrease in the Cost of Steel procured by the Contractor shall
be paid in accordance with the following Formula.
VS = 0.85 X PS / 100 X R X (Si – So) / So
Where
VS = Increase or Decrease in the Cost of Work during the Quarter under consideration due to
Changes in the Rates for Steel
So = The All India Average Wholesale Price Index for Steel (Steel Roads) for the Quarter
preceding the Date of Opening of Bids as published by the Office of Economic Advisor,
Ministry of Commerce and Industry, Government of India, New Delhi
Si = The All India Average Wholesale Price Index for Steel (Steel Roads) for the Quarter
under consideration as published by the Office of Economic Advisor, Ministry of
Commerce and Industry, Government of India, New Delhi
PS = Percentage of Steel Component of the Work