Low Bid definition

Low Bid means the contract will be awarded to the design-build firm with the lowest priced responsive bid.
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Low Bid means an award criteria option in which the contract is awarded to the Design- Build Team with the lowest-priced, responsive bid.
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Low Bid or “Low Bid Price” means a bid stating the lowest price proposed by two or more Bidders for performance of the Work, including price adjustments for Owner selected alternatives or separate prices, conforming to the bidding documents,
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Examples of Low Bid in a sentence

  • An Abnormally Low Bid is one in which the bid price, in combination with other elements of the Bid, appears so low that it raises material concerns as to the capability of the bidder to perform the contract at the offered price.

  • Qualification (ITB 37) 3.1 Qualification Criteria (ITB 37.1)After determining the substantially responsive Bid which offers the lowest-evaluated cost in accordance with ITB 34, and, if applicable, the assessment of any Abnormally Low Bid (in accordance with ITB 36) the Purchaser shall carry out the post-qualification of the Bidder in accordance with ITB 37, using only the requirements specified.

  • Apparent Low Bid will be determined solely on the total amount of all Bid items based on terms contained in Document 00 1113 (Notice Inviting Bids) and Document 00 4113 (Bid Form).

  • If the Low Bidder is a Local Business which is not a Locally Headquartered Business, then any and all responsive and responsible Locally Headquartered Businesses submitting a price within five percent of the Low Bid, and the Low Bidder shall have an opportunity to submit a best and final bid equal to or lower than the Low Bid.

  • If the Low Bidder is not a Local Business, then any and all responsive and responsible Local Businesses submitting a price within ten percent of the Low Bid, the Low Bidder, and any and all responsive and responsible Locally Headquartered Businesses submitting a price within fifteen percent of the Low Bid, shall have an opportunity to submit a best and final bid equal to or lower than the Low Bid.

  • The Engineer shall develop a preliminary cost estimate using the Average Low Bid Unit Price.

  • Low Bid / Invitation to Bid (ITB)Request for Proposals (RFP) (inc.

  • The Technical Proposal shall be submitted using Form 700-010-21 Low Bid Design-Build Technical Proposal.

  • Qualification (ITB 37)3.1 Qualification Criteria (ITB 37.1)After determining the substantially responsive Bid which offers the lowest-evaluated cost in accordance with ITB 34, and, if applicable, the assessment of any Abnormally Low Bid (in accordance with ITB 36) the Purchaser shall carry out the post-qualification of the Bidder in accordance with ITB 37, using only the requirements specified.

  • In the event of identification of a potentially Abnormally Low Bid, the Purchaser shall seek written clarification from the Bidder, including a detailed price analyses of its Bid price in relation to the subject matter of the contract, scope, delivery schedule, allocation of risks and responsibilities and any other requirements of the bidding document.

Related to Low Bid

  • bid means a written offer in a prescribed or stipulated form in response to an invitation by an organ of state for the provision of goods or services, through price quotations, advertised competitive bidding processes or proposals;

  • Price Bid means the Price Bid submitted by the Bidder, in accordance with Clause 8.15.2;

  • Acceptable bid means any bid which, in all respects, complies with the conditions of bid and specifications as set out in the bid documents.

  • Qualified Bidder As defined in Section 7.01(c).