Competitive Tender definition

Competitive Tender means a binding quote or tender price obtained following a tender process with a minimum of 3 reputable organisations possessing the appropriate expertise undertaken in good faith by or on behalf of the Contractor (subject to open book scrutiny at the reasonable request of the Authority), or, with the written agreement of the Authority (not to be unreasonably withheld or delayed), such lesser numbers as may put forward a tender;
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Competitive Tender means a binding quote or tender price obtained following a tender process with a minimum of 3 reputable organisations possessing the appropriate expertise undertaken in good faith by or on behalf of the Contractor (subject to open book scrutiny at the reasonable request of the Authority);
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Competitive Tender means a method of competitive procurement categorized as bidding, in which the winning bidder is the bidder whose bid for the competitive procurement (final proposal) meets the requirements established by the competitive procurement documentation and contains, as determined following the assessment and comparison of bids (final proposals) based on the assessment criteria specified in the procurement documentation, the best contract terms.
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Examples of Competitive Tender in a sentence

  • The funding partners have identified a maximum budget of circa £100,000, however it should be noted that as part of this Competitive Tender the partners are looking to achieve maximum value and efficiency savings as part of this exercise.

  • Contractor or an Affiliate of Contractor shall have the right to conduct the Ad-Hoc Services provided Contractor or such Affiliate participates in the Tender or Competitive Tender (as applicable) for such Ad-Hoc Services.

  • All Ad-Hoc Service Commitments shall be prepared in accordance with the respective Tender or Competitive Tender document or as required by Operator.

  • Unless the value of the Ad-Hoc Services is estimated to be less than $10,000, Contractor shall conduct a Tender or Competitive Tender (as applicable) for such Ad-Hoc Services and shall notify Operator of the results of same.


More Definitions of Competitive Tender

Competitive Tender means an invitation or request for a proposal or an offer for an Ad-Hoc Service Commitment with a value estimated to be $50,000 USD (or equivalent in Sucre) or greater in respect of which Contractor shall: (i) prepare and deliver to Operator a list of the entities whom Contractor proposes to invite to tender for the Ad-Hoc Service Commitment; (ii) submit written invitations to tender to all entities determined by Contractor and Operator to be qualified to perform under the Ad-Hoc Service Commitment; (iii) complete the tendering process within a reasonable period of time; (iv) deliver to Operator a competitive bid analysis recommending the entity to award the Ad-Hoc Service Commitment; and (v) obtain Operator's prior approval before awarding the Ad-Hoc Service Commitment for such tender and before incurring any commitments or expenditures in respect of same.
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