Market Testing Procedure Sample Clauses
Market Testing Procedure. If this Project Agreement requires Market Testing, the following procedure will apply:
(a) at least three (3) months before each Market Testing Review Date the parties will meet together as often as may be necessary to consider to agree:
(i) the number and identity of prospective tenderers that will be invited to prepare and submit tenders for the Testable Services in question provided that any prospective tenderer will possess an appropriate degree of skill, resources, reputation and financial standing relative to the provision of the Testable Services in question (and any dispute as to the selection of a prospective tenderer will be determined in accordance with the Dispute Resolution Procedure);
(ii) the appropriate manner of advertising the Testable Services;
(iii) the identity of members of the evaluation panel 50% of which may be comprised of Authority representatives;
(iv) any changes to the Testable Services in question; and
(v) the form and contents of the tender documents (which will include a Testable Services specification) relevant to the Services to be delivered to prospective tenderers (the “Testable Services Tender Documents”) which will be incorporated into an agreed document (the “Market Testing Procedure”).
(b) If the parties are unable to agree any of the matters set out in the Market Testing Procedure either Party may refer the matter to the Dispute Resolution Procedure.
(c) PPP Co. will manage the Market Testing tendering process in accordance with the Market Testing Procedure.
(d) The evaluation panel will select the most economically advantageous tender based on the evaluation criteria agreed in the Market Testing Procedure and will not be obliged to accept the lowest tender.
(e) Where the evaluation panel fails to agree which of the tenders is the most economically advantageous within thirty (30) Business Days following the expiry of the tender period, any dispute will be determined in accordance with the Dispute Resolution Procedure.
Market Testing Procedure. ▇▇▇▇▇ must obtain the approval of the Relevant Participant(s) in each case for: (subject to the provisions of paragraph 5.2.1(b) (Grouping of Services)) any grouping or groupings of Market Tested Elements or any division of any Market Tested Element into separate parts which will optimise the opportunity for the Participants to obtain best value for money; the appropriate media for advertising the Market Tested Elements and identifying the Prospective Tenderers (who should be wider than the supply chain to be maintained from time to time pursuant to paragraph 1.2 of Section 1 (Specification) of Schedule Part 3 (Partnering Services)); the basis on which the Tenderers shall be selected by hubco from among the Prospective Tenderers; the Tender Requirements (which shall be in sufficient detail to allow the party carrying out the Market Test to determine the Preferred Tenderer) and shall include, without limitation: a statement of the Tender Validity Period; requirements in respect of the possible grouping or groupings of Market Tested Elements and any division of any Market Tested Element into separate parts; details of the tender evaluation criteria, which shall: