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Where, Z is the nos. of units of the currency of the country of the origin ofthe Index / price, which is equivalent to one unit of the respective contractcurrency. The exchange factor to be used for calculation of factor ‘f’ as perBills Selling Exchange Rates established by the SBI.For the Indices / Price, Subscript ‘0’ refers to indices as on 30 days prior to date set foropening of bids. If the values of Indices / Price are not available on the said date, the sameprevailing on the previous working day will be considered. However, for ‘Z0’subscript ‘0’refers to the values as on the date of opening of bids.Subscript ‘1’ refers to the indices / price and exchange rate as on 15 days after the date ofLOA by employer to the contractor. If the values of Indices / Price / Exchange Rate are notavailable on said date, the same prevailing on the next working day will be considered.The above formula for Price adjustment will be applicable if the currency in which thecontract price is expressed is different from the currency of country of origin of materialIndices / Price. In other case, formula shall be applied without the exchange rate correctionfactor ‘f’.The total adjustment for cable shall be subject to a ceiling of (±) 20% of the respectiveEx-Works price of cable.………………………………………………………………………………………………….Section II Instructions to Bidder (ITB) Page 33 of 39