Single Bid definition

Single Bid means only one bid has been received at the time and date set for bid opening.

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Single Bid means that a recipient of BidCentral Online Bidding for Subcontractors Bids has received only one Bid for a trade section and/or division specified to Close through BCCA’s BidCentral Online Bidding for Subcontractors. For the purposes of interpretation of these Rules and any Project Documents (except where Project Documents explicitly state otherwise), where a Bid for an individual trade section of work is part of combined Bid, then it is to be considered an individual Bid for that trade section.

Single Bid means that a General Contractor has received only one bid for a trade section and/or division specified. For the purposes of interpretation of these Rules and any Project Documents (except where Project Documents explicitly state otherwise), where a Bid for an individual trade section of work is part of combined Bid, then it is to be considered an individual Bid for that trade section.

Examples of Single Bid in a sentence

• The Superintending Engineer, university Electric & Water Supply Services, on behalf of Registrar of Banaras Hindu University, Varanasi, India invites online, item rate Bids from Firms/Contractors of repute in Single Bid system for the following work : - 1 Tender Ref.

• The Chairman will only entertain bids which exceed the previous Single Bid for any non-cash asset and related liabilities or the previous Aggregate Bid for all such non-cash assets and related liabilities by at least one percent (a "Qualifying Bid").

• If during any 24-hour period within the ten-day period specified above, the Chairman does not receive a Qualifying Single Bid with respect to any non-cash asset or related liabilities or a Qualifying Aggregate Bid, the Chairman shall not entertain any further Single Bids with respect to such non-cash asset or any further Aggregate Bids, as the case may be.

• The Advance Rate otherwise indicated above will be reduced by (i) by 10 percentage points if the Collateral Asset is a Single Bid Asset and (ii) one-half if the Collateral Obligation is a Stale Participation.

• For a period of up to ten days, the Chairman shall entertain any and all bids by the Partners for such non-cash assets and related liabilities, either singly (a "Single Bid") or as a whole (an "Aggregate Bid").

• As applicable, such reductions will be cumulative, applying the Single Bid Asset reduction first.

• At the conclusion of such bidding period, the highest Single Bid by any Partner for each non-cash asset and related liabilities or, if an Aggregate Bid for such non-cash assets and related liabilities, which exceeds the sum of the Single Bids, is received such Aggregate Bid, shall constitute the Fair Market Value of such non-cash assets and related liabilities.

• For a period of up to ten days, the Chairman shall entertain bids by the Partners for such non-cash assets and related liabilities, either singly (a "Single Bid") or as a whole (an "Aggregate Bid").

• The Current Market Value of all Single Bid Assets may not exceed 3% of the Aggregate Market Value.

• At the conclusion of such bidding period, the highest Single Bid by any Partner for each non-cash asset and related liabilities or, if an Aggregate Bid for all such non-cash assets and related liabilities which exceeds the sum of the Single Bids is received, such Aggregate Bid, shall constitute the Fair Market Value of such non-cash assets and related liabilities.

More Definitions of Single Bid

Single Bid means that a recipient of Bids has received only one Bid for a trade section specified to be a Bid Depository trade section. For the purposes of interpretation of these Rules, where a Bid for an individual trade section is part of combined Bid, then it is to be considered a Single Bid for that trade section.