Low Bid definition

Low Bid means the contract will be awarded to the design-build firm with the lowest priced responsive bid.
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Low Bid or “Low Bid Price” means a bid stating the lowest price proposed by two or more Bidders for performance of the Work, including price adjustments for Owner selected alternatives or separate prices, conforming to the bidding documents,
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Low Bid means an award criteria option in which the contract is awarded to the Design- Build Team with the lowest-priced, responsive bid.
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Examples of Low Bid in a sentence

  • The Engineer shall develop a preliminary cost estimate using the Average Low Bid Unit Price.

  • There shall be a provision in the Bid document regarding Abnormally Low Bid that the Procuring Entity may in such cases seek written clarifications from the Bidder, including detailed price analyses of its bid price in relation to scope, schedule, allocation of risks and responsibilities, and any other requirements of the bids document.

  • The preference shall be computed as follows: Bidder A, (Low Bid), non-small business: $125,000 Bidder B, non-small business (subcontracting 25% to a certified small business) $131,000 Calculation Preference: $125,000 x .05 = $6,250 Bidder B $131,000 Subtract calculated preference - $6,250 Adjusted Bid for Bidder B $124,750 Award is made to Bidder B as the low bidder at the bid price of $131,000.

  • All other information shall be included in an Appendix including, but not limited to: roadway inventory, crash data, counts, signal inventory, bus routes and stops, pedestrian and bicycle facilities, traffic analysis and simulation, and detailed cost estimate(s) (using current State Average Low Bid Pricing.

  • Low Bid with Weight Given to BIPOC and MWESB Firms: Example: If the low bid is $200k and the high bid is $225k, the high bid is 12.5% higher (225-200)/200.

  • EOHLC will provide a “CPS Inventory Component Verification” form in Cap Hub in conjunction with the Low Bid Approval Letter.

  • The Engineer shall develop preliminary cost estimate(s) using the Average Low Bid Unit Price.

  • An Abstract of Low Bid will be provided to CITY after bids are opened and will be made part of this agreement.

  • The preference will be computed as follows: Bidder A, (Low Bid), non-small business: $125,000 Bidder B, non-small business (subcontracting 25% to a certified small business) $131,000 Calculation Preference: $125,000 x .05 = $6,250 Bidder B $131,000 Subtract calculated preference - $6,250 Adjusted Bid for Bidder B $124,750 Award is made to Bidder B as the low bidder at the bid price of $131,000.

  • In case of Abnormally Low Bid, the Procuring Entity may seek written clarifications from the Bidder, including detailed price analyses of its bid price in relation to scope, schedule, allocation of risks and responsibilities, and any other requirements of the bids document.

Related to Low Bid

  • Buy Bid means a bid to buy Capacity Resources in any Incremental Auction.

  • BC Bid means the BC Bid website located at www.bcbid.ca;

  • Submitted Bid has the meaning specified in Section 11.10(d)(i) below.

  • Best Bid means the highest posted bid price of the Common Stock.

  • Proposal / Bid means the technical proposal and the commercial/financial proposal.