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 59 of 65 Executive Engineer,
PC-8, BBMP, Bengaluru
Adjustment of Bitumen Component
iv. Price Adjustment for Increase or Decrease in the Cost of Bitumen shall be paid in accordance
with the following Formula.
VB = 0.85 X PB / 100 X R X (Bi – Bo) / Bo
Where
VB = Increase or Decrease in the Cost of Work during the Quarter under consideration due
to Changes in the Rate for Bitumen.
Bo = The Official Retail Price of Bitumen at the IOC / HPCL / BPL or POL Depot at
Mangalore, Karnataka on the day 30 days prior to the Date of Opening of Bids.
Bi = The Official Retail Price of Bitumen at the IOC / HPCL / BPL or POL Depot at Mangalore,
Karnataka for the 15th Day of the Middle Calendar Month of the Quarter under
consideration.
PB = Percentage of Bitumen Component of the Work.
Adjustment of Fuel and Lubricant Component:
v. Price Adjustment for Increase or Decrease in the Cost of Fuel and Lubricants shall be paid in
accordance with the following Formula.
VF = 0.85 X PF / 100 X R X (Fi – Fo) / Fo
Where
VF = Increase or Decrease in the Cost of Work during the Quarter under consideration due
to Changes in the Rates for Fuel and Lubricants.
Fo = The Official Retail Price of High Speed Diesel (HSD) at the IOC / HPCL / BPL or
Consumer Pump at Bangalore on the day 30 days prior to the Date of Opening of Bids.
Fi = The Official Retail Price of HSD at the IOC / HPCL / BPL or Consumer Pump at
Bangalore for the 15th Day of the Middle Calendar Month of the Quarter under
consideration.
PF = Percentage of Fuel and Lubricant Component of the Work.
Note: For the Application of this Clause the Price of HSD has been chosen to
represent Fuel and Lubricant Group.
Adjustment for Plant and Machinery Spares Component:
vi. Price Adjustment for Increase or Decrease in the Cost of Plant and Machinery Spares procured
by the Contractor shall be paid in accordance with the following Formula.
VP = 0.85 X PP / 100 X R X (Pi – Po) / Po
Where
VP = Increase or Decrease in the Cost of Work during the Quarter under consideration due
to Changes in the Rates for Plant and Machinery Spares.
Po = The All India Average Wholesale Price Index for Heavy Machinery and Parts for the
Quarter preceding the Date of Opening of Bids, as published by the Office of the
Economic Advisor, Ministry of Commerce and Industry, Government of India, New
Delhi
Pi = The All India Average Wholesale Price Index for Heavy Machinery and Parts for the
Quarter under consideration as published by the Office of the Economic Advisor,
Ministry of Commerce and Industry, Government of India, New Delhi
PP = Percentage of Plant and Machinery Spares Component of the Work.