Competitive bids definition

Competitive bids means two or more valid responses to a bid invitation.
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Competitive bids means a process following advertisement in designated legal newspapers and other media for equipment, supplies, material, and public works contracts open to all suppliers, vendors, and contractors, and in which price is the primary basis for consideration and contract award.
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Competitive bids means an amount offered in an open auction or in tender process by the participants;
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Examples of Competitive bids in a sentence

  • Competitive bids reveal the costs of a U.S. product are significantly higher than the non-domestic product.

  • Competitive bids reveal the costs of a U.S. product are significantly higher than the non- domestic product.

  • Competitive bids or quotations shall be solicited in connection with purchases pursuant to law.

  • Competitive bids or offers should be obtained, when possible, from at least three separate brokers/financial institutions or through the use of a nationally recognized trading platform.

  • Competitive bids reveal the costs of a U.S. product to be significantly higher than the foreign product.

  • Competitive bids reveal the cost of a United States food or food product is significantly higher than the non-domestic product.

  • Competitive bids will be obtained where required by law or otherwise deemed appropriate and in the best interests of the school.

  • Competitive bids are to be solicited when the services required are of a standardized nature that may reasonably be made the subject of specifications to which bidders respond with required qualification data and price offers.

  • Competitive bids reveal the cost of a U.S. product is significantly higher than the non- domestic product.Requests for alternative substitutes or exceptions to the Buy American provision should be used as a last resort; however, an alternatives or exception may be approved upon request.

  • Competitive bids are not required for food purchases, unless food purchased in a single transaction costs $100,000 or more.


More Definitions of Competitive bids

Competitive bids will mean offers by Revolving Credit Lenders to make Competitive Bid Loans made in accordance with SECTION 2.2, below, pursuant to the form for requesting Competitive Bid Loans delivered by Documentation Agent to Revolving Credit Lenders in connection with the Closing and all amendments thereto and restatements thereof.
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Competitive bids means the bid which contains the amount intended to be purchased at the auction and the yield/margin;
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Related to Competitive bids

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.

  • Competitive Bid Loan means a Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be.

  • Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

  • Competitive Bid Margin means the margin above or below the applicable Eurodollar Base Rate offered for a Eurodollar Bid Rate Loan, expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurodollar Base Rate.

  • Competitive Bid means a bid in terms of a competitive bidding process;

  • Competitive Bid Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender.

  • Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.03.

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Competitive Bid Quote Request means the notice, in substantially the form of Exhibit B hereto, to be delivered by the Borrower in accordance with Section 2.03 in requesting Competitive Bid Quotes.

  • Competitive Bid Accept/Reject Letter means a notification made by a Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent with respect to a Competitive Bid Quote Request in the form attached as Exhibit C-3.

  • Bid Request means a written request for one or more Bid Loans substantially in the form of Exhibit B-1.

  • Invitation for Competitive Bid Quotes means a written notice to the Lenders from the Administrative Agent with respect to a Competitive Bid Quote Request in the form attached as Exhibit C-2 hereto.

  • Competitive Borrowing means a Borrowing consisting of a Competitive Loan or concurrent Competitive Loans from the Lender or Lenders whose Competitive Bids for such Borrowing have been accepted under the bidding procedure described in Section 2.03.

  • Bid Loan Lender means, in respect of any Bid Loan, the Lender making such Bid Loan to the Borrower.

  • Responsive bidder means a person who has submitted a bid that conforms in all material respects

  • Bid Borrowing means a borrowing consisting of simultaneous Bid Loans of the same Type from each of the Lenders whose offer to make one or more Bid Loans as part of such borrowing has been accepted under the auction bidding procedures described in Section 2.03.

  • Alternative Bid means a response to a bid that does not meet the exact requirements of the specification but offers an alternative for consideration. An alternative bid is submitted with an intentional variation to a provision, specification, term or condition of the solicitation. This alternative, in the opinion of the bidder, achieves the same end result. Alternative bids may be rejected as non-responsive.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • Responsive Bidder or Offeror means a person who submits a bid or proposal which conforms in all material respects to the invitation for bids or request for proposals.

  • 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.