Lowest and best bid definition

Lowest and best bid means the same as under R.C. 307.86.
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Lowest and best bid. – means a bid or offer providing the best value considering associated direct and indirect costs, including transport, maintenance, reliability, life cycle, warranties, and customer service after a sale.
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Lowest and best bid means, in the sole discretion of the Board, the bid (i) submitted by a person or firm capable and qualified in all respects to perform fully the contract requirements and with the integrity and reliability to assure good faith performance, (ii) is responsive to the invitation to bid as determined by the Board, and (iii) is the lowest cost to the District. Minor variations in the bid may be waived by the Board. Mistakes in arithmetic extension of pricing may be corrected by the Board. Bids may not be modified after opening.
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Examples of Lowest and best bid in a sentence

  • Lowest and best bid will be presented to the Reeves County Commissioners Court for approval.

  • Education,including prior approval of such bid by the State128Departmentof Education.129(v) Agencies and governing authorities may130 establish secure procedures by which bids may be submitted via131 electronic means.132 (d) Lowest and best bid decision procedure.133 (i) Decision procedure.

  • Education,including prior approval of such bid by the State129Departmentof Education.130(v) Agencies and governing authorities may131 establish secure procedures by which bids may be submitted via132 electronic means.133 (d) Lowest and best bid decision procedure.134 (i) Decision procedure.

  • Such acquisitions shall not be made147 to circumvent the public purchasing laws.148 (v) Agencies and governing authorities may149 establish secure procedures by which bids may be submitted via150 electronic means.151 (d) Lowest and best bid decision procedure.152 (i) Decision procedure.

  • Such acquisitions shall not be made150 to circumvent the public purchasing laws.151 (v) Agencies and governing authorities may152 establish secure procedures by which bids may be submitted via153 electronic means.154 (d) Lowest and best bid decision procedure.155 (i) Decision procedure.

  • Boardof Education, including prior approval of such bid by the129StateDepartment of Education.130 (d) Lowest and best bid decision procedure.131 (i) Decision procedure.

  • The first approach emphasizes scientific literacy while the latter aims at preparing students for science programs in further education.

  • When construction bids are submitted2324electronically, the requirement for including a certificate of2325responsibility, or a statement that the bid enclosed does not2326exceed Fifty Thousand Dollars ($50,000.00), on the exterior of the2327bid envelope as indicated in Section 31-3-21(1) and (2) shall be 23282329233023312332deemed in compliance with by including same as an attachment with the electronic bid submittal.(d) Lowest and best bid decision procedure.

  • When construction bids are submitted357 electronically, the requirement for including a certificate of358 responsibility, or a statement that the bid enclosed does not359 exceed Fifty Thousand Dollars ($50,000.00), on the exterior of the360 bid envelope as indicated in Section 31-3-21(1) and (2) shall be361 deemed in compliance with by including same as an attachment with362 the electronic bid submittal.363 (d) Lowest and best bid decision procedure.364 (i) Decision procedure.

  • Such acquisitions shall not be made155 to circumvent the public purchasing laws.156 (v) Agencies and governing authorities may157 establish secure procedures by which bids may be submitted via158 electronic means.159 (d) Lowest and best bid decision procedure.160 (i) Decision procedure.


More Definitions of Lowest and best bid

Lowest and best bid means the lowest responsive bid submitted by a responsible bidder in compliance with the invitation to bid meeting the standards, requirements and specifications contained in the invitation to bid.
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Related to Lowest and best bid

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

  • Lowest and Best Responsible Bidder means the Bidder submitting the lowest Bid received that is within the range of acceptable bids, that also has the ability to timely perform the Contract bid upon considering such factors as financial resources, skills, quality of materials, past work record, and ability to comply with state, federal, and local requirements, including those set forth in the SBE Regulations.

  • Lowest Evaluated Bid means a bid for goods, works and services having the lowest evaluated cost among the substantially responsive bids

  • Highest Bidder means the Bidder, who quotes the highest License Fees

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

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

  • Lowest price means the least possible amount that meets all requirements of the request of a purchasing agent.

  • Best and Final Offer means a revision to an Offer submitted after negotiations are completed that contains the Offeror’s most favorable terms for price, service, and products to be delivered. Sometimes referred to as a Final Proposal Revision.

  • Discounted Market Price of Shares means, if the Shares are listed only on the TSX Venture Exchange, the Market Price less the maximum discount permitted under the TSX Policy applicable to Options.

  • Price Differential with respect to any Transaction as of any date, the aggregate amount obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for such Transaction on a 360 day per year basis for the actual number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the date of determination (reduced by any amount of such Price Differential previously paid by Seller to Buyer with respect to such Transaction);

  • Closing Market Price means the price at which the company’s security was last sold, on the applicable date,

  • Applicable Market Value has the meaning specified in Section 5.1.

  • Auction Premium means the difference in price (if any) between the Starting Price and the Clearing Price;

  • bid means a written offer in a prescribed or stipulated form in response to an invitation by an organ of state for the provision of goods or services, through price quotations, advertised competitive bidding processes or proposals;

  • Solicited Discounted Prepayment Notice means an irrevocable written notice of a Borrower Solicitation of Discounted Prepayment Offers made pursuant to Section 2.11(a)(ii)(D) substantially in the form of Exhibit M.

  • Major Trading Area or "MTA" means Major Trading Area as defined by the FCC in 47 C.F.R. Part 24.202.

  • Signing Market Price means $0.4108, representing the consolidated closing bid price of the Common Stock on The Nasdaq Capital Market on the date of this Agreement.

  • Solicited Discounted Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(D)(1).

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • Applicable Discount has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Applicable Spread means, in connection with the Maximum Rate for any Rate Period (and subject to adjustment as described in the definition of Maximum Rate) (i) when there is not a Failed Remarketing Condition, 200 basis points (2.00%), and (ii) while a Failed Remarketing Condition has occurred or is continuing, 200 basis points (2.00%) (up to 59 days of a continued Failed Remarketing Condition), 225 basis points (2.25%) (sixty (60) days but fewer than ninety (90) days of a continued Failed Remarketing Condition), 250 basis points (2.50%) (ninety (90) days but fewer than 120 days of a continued Failed Remarketing Condition), 275 basis points (2.75%) (120 days but fewer than 150 days of a continued Failed Remarketing Condition), 300 basis points (3.00%) (150 days but fewer than 180 days of a continued Failed Remarketing Condition), and 400 basis points (4.00%) (180 days or more of a continued Failed Remarketing Condition); provided that, if at any time when the Applicable Spread is 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) and the Failed Remarketing Condition no longer exists due to the successful remarketing of all Purchased VRDP Shares, then such Applicable Spread of 225 basis points (2.25%), 250 basis points (2.50%), 275 basis points (2.75%), 300 basis points (3.00%) or 400 basis points (4.00%) will continue to be the Applicable Spread in connection with determining the Maximum Rate in effect for each Rate Period commencing with the first Subsequent Rate Period after the Failed Remarketing Condition no longer exists through and including the first Subsequent Rate Period ending on or after the 45th day after the day the Failed Remarketing Condition no longer exists; provided, further, that (i) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 225 basis points (2.25%), the date such new Failed Remarketing Condition occurs will be deemed to be the 60th day of a continued Failed Remarketing Condition, (ii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 250 basis points (2.50%), the date such new Failed Remarketing Condition occurs will be deemed to be the 90th day of a continued Failed Remarketing Condition, (iii) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 275 basis points (2.75%), the date such new Failed Remarketing Condition occurs will be deemed to be the 120th day of a continued Failed Remarketing Condition, (iv) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 300 basis points (3.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 150th day of a continued Failed Remarketing Condition and (v) if a new Failed Remarketing Condition occurs prior to the end of such period and the Applicable Spread is then 400 basis points (4.00%), the date such new Failed Remarketing Condition occurs will be deemed to be the 180th day of a continued Failed Remarketing Condition, in each case, solely for purposes of determining the Applicable Spread.

  • Decrement Bid means a type of Virtual Transaction that is a bid to purchase energy at a specified location in the Day-ahead Energy Market. A cleared Decrement Bid results in scheduled load at the specified location in the Day-ahead Energy Market.

  • Bid with Lowest Evaluated Cost means the bid quoting lowest cost amongst all those bids evaluated to be substantially responsive;

  • Best Value means the method by which a proposal/contract, if any, is awarded, in accordance with applicable laws, rules, and regulations. Best Value includes multiple parameters, including experience, references, quality of the Vendor's product(s)/service(s), and price, as detailed in Section 6.0 Evaluation and Award.

  • Lowest floor means the lowest floor of the lowest enclosed area (including basement). An unfinished or flood resistant enclosure, usable solely for parking of vehicles, building access, or limited storage in an area other than a basement area is not considered a building's lowest floor, provided that such an enclosure is not built so as to render the structure in violation of the applicable non-elevation design requirements of this ordinance.

  • Tender Price means the amount stipulated by the Tenderer in the space provided therefor in the Form of Tender, including all applicable taxes, which price, for greater certainty, is the Tenderer’s proposed Contract Price to complete all of the Work; and