Competitive bids definition

Competitive bids means two or more valid responses to a bid invitation.
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.
Competitive bids means an amount offered in an open auction or in tender process by the participants;

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.

  • Micro-purchases (up to $10,000): Competitive bids are not required.

  • Competitive bids or quotations shall be solicited in connection with all purchasing whenever possible.

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

  • Competitive bids are necessary for OCC to sell the portfolio at a market price that minimizes the loss to OCC and its Clearing Members, and enable OCC to successfully complete an auction in a timely manner and thereby manage a Clearing Member default in a timely manner.

  • Competitive bids allow the University Buyer to request bids from a pool of suppliers.

  • In terms of Guideline 1.2.1 (c) of the Government Procurement Guidelines, calling for National Competitive bids should have been carried out by providing fair, equal and maximum opportunity for eligible interested parties to participated in procurement process.

  • Competitive bids are posted publicly upon release on the Procurement website http://www.una.edu/purchasing ; In addition, an emailed copy is sent to suppliers interested and able to support the demand.

  • 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 required for Federal Grant purchases > $150,000.


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.
Competitive bids means the bid which contains the amount intended to be purchased at the auction and the yield/margin;

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

  • 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 Quote Request means a Competitive Bid Quote Request substantially in the form of Exhibit C hereto completed and delivered by the Borrower to the Administrative Agent in accordance with Section 2.3.2.

  • 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 Competitive Bid Quote substantially in the form of Exhibit "E" hereto completed and delivered by a Lender to the Agent in accordance with Section 2.3.4.

  • 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 an Invitation for Competitive Bid Quotes substantially in the form of Exhibit "D" hereto, completed and delivered by the Agent to the Lenders in accordance with Section 2.3.3.

  • 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.

  • 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.

  • 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.