Quotation Methodology Sample Clauses

The Quotation Methodology clause defines the procedures and standards for preparing and presenting price quotations within a contract. It typically outlines the required format, the basis for pricing (such as fixed rates, time and materials, or cost-plus), and any supporting documentation that must accompany a quote. By establishing clear rules for how quotations are to be calculated and submitted, this clause ensures transparency and consistency in pricing, reducing the risk of misunderstandings or disputes over costs.
Quotation Methodology. As soon as reasonably practical after termination, the District shall determine whether to calculate the Slice Termination Payment by obtaining quotations (either firm or indicative) for a Replacement Slice Contract or to use the Alternative Determination Methodology. If the District determines obtaining quotations is appropriate, then the District will endeavor to obtain quotations from three or more third parties selected by the District who, in the District’s reasonable discretion, are creditworthy, are qualified to enter into a Replacement Slice Contract, and are parties to a WSPP Agreement (each a “Qualified Bidder”). Bids or quotations for less than the full remaining term or containing material conditions or deviations from this contract shall not be considered. If more than three quotations are received, the high and low quotation shall be disregarded and the Slice Termination Payment shall be calculated using the average of the remaining quotations, as compared to the total Purchase Price for all remaining Delivery Periods. If three or fewer quotations are received, the Slice Termination Payment shall be calculated using the average of the quotations received. It is expressly agreed that the District shall not be required to enter into a Replacement Slice Contract or any replacement transactions in order to determine the value of Purchaser’s Output for the purposes of calculating the Slice Termination Payment under this section.
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Related to Quotation Methodology

  • Methodology 1. The price at which the Assuming Institution sells or disposes of Qualified Financial Contracts will be deemed to be the fair market value of such contracts, if such sale or disposition occurs at prevailing market rates within a predefined timetable as agreed upon by the Assuming Institution and the Receiver. 2. In valuing all other Qualified Financial Contracts, the following principles will apply:

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