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

  • Buy Bid means a bid to buy Capacity Resources in any Incremental Auction.

  • BC Bid means the BC Bid website located at www.bcbid.ca;

  • Submitted Bid has the meaning specified in Section 11.10(d)(i) below.

  • Best Bid means the highest posted bid price of the Common Stock.

  • Proposal / Bid means the technical proposal and the commercial/financial proposal.

  • 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;

  • Lowest Evaluated Bid means a bid for goods, works and services having the lowest evaluated cost among the substantially responsive bids

  • Base Bid means a Bid for Public Works to be performed or Supplies or Services to be furnished under a City Contract, including additives, alternates, deductives, excluding force accounts, and taxes collected separately pursuant to Washington Administrative Code (“WAC”) 458-20-171.

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

  • Eligible bidder means a person who is:

  • Highest Bidder means the Bidder, who quotes the highest License Fees

  • Decrement Bid means a type of Virtual Transaction that is a bid to purchase energy at a specified location in the Day-ahead Energy Market. A cleared Decrement Bid results in scheduled load at the specified location in the Day-ahead Energy Market.

  • 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(s means a Bidder who fulfills the eligibility criteria listed out in the E-Auction Process Information Document.

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

  • Invitation for Bid means and include the present document, and such other complements and agenda, which may subsequently be issued in this connection.

  • Return Bid has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Designated Bidder means (a) an Eligible Assignee or (b) a special purpose corporation that is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business and that issues (or the parent of which issues) commercial paper rated at least "Prime-1" (or the then equivalent grade) by Xxxxx'x or "A-1" (or the then equivalent grade) by S&P that, in the case of either clause (a) or (b), (i) is organized under the laws of the United States or any State thereof, (ii) shall have become a party hereto pursuant to Section 8.07(d), (e) and (f) and (iii) is not otherwise a Lender.

  • Non-responsive Bid means a bid, which is not submitted as per the instructions to the bidders or Earnest Money Deposit has not been attached, or the required data has not been provided with the Bid or intentional errors have been committed in the Bid.

  • Competitive Bid means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

  • Eligible Bidder(s) means Bidder(s) who are eligible in terms of this E-Auction Process Memorandum, provisions of IBC and provisions of the Liquidation Process Regulations;

  • Responsive Bid means a Bid that complies with each of the provisions of this RFB, or is either an alternative bid or a bid with an exception, if accepted by the Agency.

  • Contract base bid means the total dollar amount a contractor bids on a contract without factoring any bid incentive or percentage reductions to the bid amount.

  • Invitation for Bid (IFB means the solicitation document issued to potential vendors for the purchase of equipment, supplies, and/or services as described in the document. The definition includes these Terms and Conditions as well as all Pricing Pages, Exhibits, Attachments, and Addendums thereto.

  • issuer bid means an offer to acquire or redeem securities of an issuer made by the issuer to one or more persons, any of whom is in the local jurisdiction or whose last address as shown on the books of the offeree issuer is in the local jurisdiction, and also includes an acquisition or redemption of securities of the issuer by the issuer from those persons, but does not include an offer to acquire or redeem, or an acquisition or redemption if

  • Bona Fide Request (BFR) means the process described in Attachment 08 – Bona Fide Request (BFR).