The price indexation calculator was created according to the Decree No. 753 by the Government of Georgia "on approving the basis, principles, and rules of the use of price indexation in order to promote the implementation of infrastructure projects". The purpose of the calculator is to offer a simple procedure to construction companies, which will allow them to get a reference about price indexation online. For indexation purposes the calculator uses values of the chained construction cost index (CCI). The CCI is developed by Geostat according to international methodology and standards.
1. Select the base period
According to Decree No. 753, February 2022 is used as the base month for the works performed from April 1, 2022 and subsequently reimbursed within the framework of the current contract. If the first option is selected, it is no longer necessary to fill in the 2nd stage (the tender opening date). As for the works performed and subsequently paid within the framework of the current tenders and tenders announced before May 1, 2022, the month corresponding to the date 28 days before the opening of the tender (which cannot be earlier than February) is used as the base month. The reference period of the index is defined according to the base month. Accordingly, the base index in the mentioned period is 100 (hereinafter – the base index).
2. Choose the tender opening date (to be filled in only if the second option is selected in stage 1)
Choose the tender opening date that will be used to determine the base month.
3. Specify the level of performed work
According to Decree No. 753, the contract will be subject to the positive or negative balance caused by price indexation if 10% or less of the work is completed by March 1, 2022. Otherwise, only the positive balance caused by price indexation applies to the contract.
4. Information about the performed work
In the table please specify the following information:
case when information on several works performed within the same contract should be filled, another row of the table can be added by clicking on the “+” button. At the bottom of the table a total amount of reimbursement is automatically calculated.
In addition to the above, the calculator allows the price indexation result to be generated as a reference for further use. To do this, you need to click on the "Generate document" button and save or print the created document.