Firm price definition

Firm price means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition, or abolition of customs or excise duty and any other duty, levy, or tax, which, in terms of the law or regulation, is binding on the contractor and demonstrably has an influence on the price of any supplies, or the rendering costs of any service, for the execution of the contract;
Firm price means the price that is only subject to adjustments in accordance with the actual increase ordecrease resulting from the change, imposition, or abolition of customs or excise duty and any other duty, levy, or tax, which, in terms of the law or regulation, is binding on the contractor and demonstrably has an influence on the price of any supplies, or the rendering costs of any service, for the execution of the contract;2.11 “functionality” means the measurement according to predetermined norms, as set out in the bid documents, of a service or commodity that is designed to be practical and useful, working or operating, taking into account, among other factors, the quality, reliability, viability and durability of a service and the technical capacity and ability of a bidder;2.12 “non-firm prices” means all prices other than “firm” prices;2.13 “person” includes a juristic person;2.14 “rand value” means the total estimated value of a contract in South African currency, calculated at the time of bid invitations, and includes all applicable taxes and excise duties;2.15 “total revenue” bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007;2.16 “trust” means the arrangement through which the property of one person is made over or bequeathed to a trustee to administer such property for the benefit of another person; and2.17 “trustee” means any person, including the founder of a trust, to whom property is bequeathed in order for such property to be administered for the benefit of another person.3. ADJUDICATION USING A POINT SYSTEM3.1 The bidder obtaining the highest number of total points will be awarded the contract.3.2 Preference points shall be calculated after prices have been brought to a comparative basis taking into account all factors of non-firm prices and all unconditional discounts;.3.3 Points scored must be rounded off to the nearest 2 decimal places.3.4 In the event that two or more bids have scored equal total points, the successful bid must be the one scoring the highest number of preference points for B-BBEE.3.5 However, when functionality is part of the evaluation process and two or more bids have scored equal points including equal preference points for B-BBEE, the successful bid must be the one scoring the highest score for functionality.3.6 Should tw...
Firm price means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition, or abolition of customs or excise duty and any other duty, levy, or tax, which, in terms of the law

Examples of Firm price in a sentence

In case, it is neither confirmed nor denied, it would be presumed that bidder has accepted this condition.2Offer on Firm price basis - Para 1.9.2 of Bid Document - Bidders must quote on firm price basis only.

In case of purchases of goods other than services, bidders should complete and sign SBD 3.1 of the Firm price only.

Price bid (all inclusive) shall be quoted in` for the entire scope of work covered under the Terms of the EoI on a Firm price basis (With no.

Firm price quotations are valid for a period of one month only from the date of quotation.

In case of purchases of goods other than services, bidders should complete and sign SBD 7.1 of the Firm price only.


More Definitions of Firm price

Firm price means the price exclusive of VAT payable to the Contractor by the Authority under the Contract for the full and proper performance by the Contractor of his part of the Contract. Unless otherwise stated in the Contract, the price shall not be subject to variation except in respect of alterations of task in accordance with Condition 12.
Firm price means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition, or abolition of
Firm price means the Agreement requires the delivery of products or services at a specific price, fixed at the time of the Agreement and not subject to any adjustment on the basis of Contractor’s cost experience in performing under the terms of the Agreement.
Firm price means a price, agreed for the Articles or Services, or both, which is not subject to variation;
Firm price means a price agreed for the Services which is not subject to variation;
Firm price means the price that is only subject to adjustments in accordance with the actual
Firm price means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition or abolition of customs or excise duty and any other duty, levy or tax which, in terms of a law or regulation is binding on the contractor and demonstrably has influence on the price of any supplies or the renderingcost of any service, for the execution of a contract.“Goods”means any work, equipment, machinery, tools, materials or anything of whatever nature to be rendered to Department of Health’s delegate by thesuccessful Bidder in terms of this bid.“Internal Collaboration”means collaborative arrangements within a group of companies or within various strategic business units/subsidiaries/operating divisions in order to gain a strategic position whilst sharing resources, profits and losses as wellas risks.“Joint Ownership”(also known as equity JVs) means the establishment by two parent companies of a child company for a specific task within which both parent companies invest in order to overcome the limited capabilities vested within them in order that they can both benefit from the combinedinvestment.“Joint Venture”means two or more businesses joining together under a contractual agreement to conduct a specific business enterprise with both partiessharing profit and losses.“Licences”means conditional use of another party’s intellectual property rights.“Management”“in relation to an enterprise or business, means an activity inclusive of control, and performed on a daily basis, by any person who is a principal executive officer of the company, by whatever name that person may bedesignated, and whether or not that person is a director.“Non-firm Price(s)”means all price(s) other than “firm” price(s).“Organ of State”means a constitutional institution defined in the Public FinanceManagement Act, Act 1 of 1999.“Person(s)”refers to a natural and/or juristic person(s).“Prime Bidder”means any person (natural or juristic) who forwards an acceptable proposal in response to this Request for Bid (RFB) with the intention ofbeing the main contractor should the proposal be awarded to him/her.