Formal Procurement definition
Formal Procurement means the procurement of goods or services for more than
Formal Procurement means the procurement of goods and services that must be approved by the Port Commission pursuant to Texas Water Code Chapter 60.
Formal Procurement means a public contract for goods or services that exceeds a contract price of $500,000 and must be awarded by using a formal Request for Proposal (RFP) process if contractor selection will be based on criteria in addition to cost or if the ability to negotiate terms and conditions with the selected contractor is desired. The solicitation process must provide opportunities for prospective proposers to protest the solicitation and the award.
More Definitions of Formal Procurement
Formal Procurement means Procurement by written Notice Inviting Bids and Formal Bid, Request for Proposals, or Request for Qualifications and includes Procurement of Construction, Goods and Services subject to the bidding requirements of Section 2.40.080.