L1 definition

L1 means the lowest tender or lowest bid or the lowest quotation received in a tender, bidding process or other procurement solicitation as adjudged in the evaluation process as per the tender or other procurement solicitation.
L1 means the Bidder who has quoted lowest price in the Reverse Auction process.
L1 means the lowest technically accepted tender / bid / quotation (i.e. lowest landed cost including duties, taxes and freight & Insurance).

Examples of L1 in a sentence

  • In case some quantity is still left uncovered on Class-I local suppliers, then such balance quantity may also be ordered on the L1 bidder.

  • If L1 is ‘Class-I local supplier’, the contract for full quantity will be awarded to L1.

  • If L1 is ‘Class-I local supplier’, the contract will be awarded to L1.

  • If L1 bid is not a ‘Class-I local supplier’, 50% of the order quantity shall be awarded to L1.

  • In case such lowest eligible ‘Class-I local supplier’ fails to match the L1 price, the ‘Class-I local supplier’ with the next higher bid within the margin of purchase preference shall be invited to match the L1 price and so on and contract shall be awarded accordingly.


More Definitions of L1

L1 means the Tenderer whose tender is the lowest;
L1 means the bidder whose price as per the commercial bid / Reverse Auction is the lowest.
L1 means the lowest tender or lowest bid received in response to this tender.
L1 bid means the lowest tender or lowest bid or lowest quotation received in a tender, bidding process or other procurement solicitation as adjudged in the evaluation process as per the tender or other procurement solicitation. MDL reserves right to negotiate with evaluated L1 bidders on the quoted prices as the need be.
L1 means the bidder whose tender is the lowest.
L1 means the lowest tender or lowest bid or lowest quotation received ina tender, bidding process or other procurement solicitation, as adjudgedin the evaluation process as per the tender or other procurementsolicitation.
L1 means the lowest tender or lowest bid or lowest quotation received in tender as adjudged in the evaluation process as per the tender.Note: L1 price in tender shall be “tender evaluated ranked price”.