Competitive Process means a formal sealed, electronic, or web-based bid procedure used for all nonclaims related purchases for goods and services over fifty thousand dollars. For purchases between five thousand dollars and fifty thousand dollars, competitive process means quotations obtained from at least three vendors by telephone or written quotations, or both, and supported by evidence of competition. Purchases up to five thousand dollars are exempt from competitive bids providing procurement is based on obtaining maximum quality at minimum cost.
Competitive Process means either an Open Competition or an Invitational Competition;
Competitive Process means the solicitation of bids from multiple suppliers.
Examples of Competitive Process in a sentence
Where any due diligence report that has been shared with any potential third-party purchaser under a Competitive Process includes any Senior Secured Enforcement Advice, the Second Lien Creditors and High Yield Creditors shall have access to the relevant report with the Senior Secured Enforcement Advice redacted.
More Definitions of Competitive Process
Competitive Process means Open Competitions, Invitational Competitions and Limited Competitions.
Competitive Process means any public or private auction or other competitive sale process conducted and run in accordance with the advice of a reputable, independent and internationally recognised investment bank, firm of accountants or third party professional firm which is regularly engaged in such sale processes with a view to obtaining a fair market price in the prevailing market conditions (without any obligation to postpone to obtain a higher price) and in which the Second Lien Creditors and High Yield Creditors are entitled to participate (and for the avoidance of doubt, in which the Senior Secured Creditors are also entitled to participate) as prospective buyers and/or financiers (including as part of a consortium). For the purposes of this definition, “entitled to participate” shall be interpreted to mean:
Competitive Process means the process of procuring goods and services and construction-related services by fair and open competition, under varying market conditions, with the intent of minimizing opportunities for favoritism and assuring that Contracts are award equitably and economically using various factors in determining such equitability and economy.
Competitive Process means the Solicitation of Bids through more than one Supplier;
Competitive Process means the procurement of Goods and Services by Competitive Sealed Bidding, Competitive Sealed Proposals, or Quotes when permitted by these Rules.
Competitive Process means the process approved by the Council to determine the most cost- effective privatization technique.