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 or
Examples of Firm price in a sentence
In case of purchases of goods other than services, bidders should complete and sign SBD 7.1 of the Firm price only.
In case of purchases of goods other than services, bidders should complete and sign SBD 3.1 of the Firm price only.
More Definitions of Firm price
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 the price that is onlysubject to adjustments in accordance with the actual increase or
Firm price means a price, agreed for the Articles or Services, or both, which is not subject to variation;
Firm price means a price that We may immediately conclude a transaction on without further reference to You. We shall consider a Firm Price live and applicable until any such price has been confirmed by Us or until such time as You advise Us to withdraw from the Firm Price. For the avoidance of doubt, all prices shall be deemed to be Indicative Prices unless and until otherwise notified by Us to You, whether verbally or in writing.
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;”Force majeure” means an event beyond the control of the supplier and not involving the supplier’s fault or negligence and not foreseeable. Such events may include, but is not restricted to, acts of the purchaser in its sovereign capacity, wars or revolutions, fires, floods, epidemics, quarantine restrictions and freight embargoes.