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        "title": "Broomloan Traction Power Transformer Replacement",
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                    "minimum": "Financial evaluation: With regards SPD question 4B, SPT will use Dun and Bradstreet's DBAi financial reporting system to assess the financial stability of bidders. Bidders with a Failure Score of 51 or above on the DBAi system will be deemed to have evidenced satisfactory financial stability. Bidders must confirm within their response to the relevant question within the Qualification Envelope, the value of their D&B Failure Score. In the event that the bidder does not have a Dun and Bradstreet rating or they consider that the rating has been adversely affected by factors which they can offer mitigating evidence for, we will use the following ratios to evaluate a bidder's financial status. Bidders must confirm within their response to the relevant question within the Qualification Envelope, the name and value of the 3 financial ratios listed below as taken from their own Accounts. 1 Profitability - this is taken as profit after tax but before dividends and minority interests. If a company makes a profit then it is a pass for this ratio; 2 Liquidity - this value is calculated as current assets less stock and work in progress, divided by current liabilities. If the answer is greater than or equal to one then it is a pass for this ratio; 3 Gearing - this value is calculated as the total external secured borrowing (short term and long term) divided by shareholder funds expressed as a percentage. If the answer is less than or equal to 100% it is considered a pass for this ratio. Where 2 out of the 3 ratios cannot be met, we may then take account of other factors (including those listed below) when assessing financial viability and the risk to the organisation, providing that the Bidder can submit acceptable evidence to substantiate any of the mitigating criteria. Insurance:(Clause references to MF1 Rev/6) Clause 47.1: Insurance of Works The insurance purchased by the Contractor under Clause 47.1 will include cover on behalf of the Purchaser for the Purchaser's Risks to the extent normally insurable under a Contract Works All Risk Insurance. The Contractor shall fully indemnify, keep indemnified and save and hold harmless SPT, its servants and agents against all action, claims, demands, costs and expenses including legal expenses incurred by or made against SPT, its servants or agents in respect of any loss of or damage to property or personal injury (including death) resulting directly or indirectly from anything done or omitted to be done under the Contract to the extent that such loss, damage or injury is caused by the negligence or other wrongful act or omission of the Contractor, its servants or agents. The Contractor shall effect with an insurance company or companies acceptable to SPT a policy or policies of insurance covering all the matters which are the subject of the indemnities and undertakings on the part of the Contractor contained in this Contract including Professional Liability Insurance in the sum of no less than GBP5,000,000, Public Liability Insurance in the sum of no less than GBP10,000,000, Product Liability Insurance in the sum of no less than GBP5,000,000 and Employers Liability Insurance in the sum of no less than GBP5,000,000 at least, each in respect of any one incident and unlimited in total, unless otherwise agreed by SPT in writing. If requested by SPT, the Contractor shall produce to SPT the relevant policy or policies together with receipts or other evidence of payment of premiums, including the latest premium due thereunder. The Contractor shall not do or omit to do anything whereby any insurance policies will be vitiated either in whole or in part while carrying out the Works during the period of the Contract and any subsequent warranty period (if applicable). Clause 47.4: Third Party Insurance The Contractor shall effect Third Party Insurance for a minimum amount of GBP10,000,000 (ten million pounds) for any one claim or series of claims arising from the same incident."
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