The Tender Price Index (TPI) is published by BCA every quarterly with data taken from actual tender prices. It reflects the recent trend in construction cost due to changes in prices of materials, manpower, plants & machinery, and overheads and profits. Over the years the TPI has moved up significantly. The Tendering Limit Variable Component (TLVC) is determined using the Tender Price Index (TPI) to reflect the impact of tender price movements on project value. BCA will adjust the tendering limits once a year on the first of July. For the latest tendering limit, please click the following link http://www.bca.gov.sg/ContractorsRegistry/contractors_tendering_limits.html