Unbalanced Bid definition

Unbalanced Bid means a bid in which the bidder places an unreasonably high value on certain items in a unit price contract and an unreasonably low price on other items within the same bid for purposes of front end loading progress payments under a contract (receiving large payments at the beginning of a contract) or for maximizing its profits on items that will be used in a contract in greater quantities than estimated in the tender document and under-pricing items it believes will be used in significantly lesser quantities.

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Unbalanced Bid means a Bid which, in the opinion of the Owner, is based on prices significantly less than cost for some work, or prices which are significantly overstated in relation to cost for other work, and if there is a reasonable doubt that the Bid will result in the lowest overall cost to the Unified Government of Athens-Clarke County even though it may be the low evaluated Bid, or if it is so unbalanced as to be tantamount to allowing an advance payment.

Unbalanced Bid means, without limitation, a Bid that the Purchasing Supervisor believes has been manipulated created or developed in order to gain an advantage in the bidding process and can include without limitation circumstances such as where Bids contain overall prices or particular line item Bid prices that appear to be unreasonably high, inflated, excessive or exaggerated, unreasonably low; the inclusion of line items that have not been requested; wide disparities in Bid prices between one Bid submission and other Bid submission(s) and/or submission of artificially highly priced items in Bids or high overall Bid prices for the early stages of a project.

Examples of Unbalanced Bid in a sentence

• The Additional Performance Security shall be equal to fifty percent of Unbalanced Bid Amount.

• These quantities will be used only for the purpose of performing the Unbalanced Bid Analysis.

• Materially Unbalanced Bid means a bid which generates a reasonable doubt that award to the bidder submitting a mathematically unbalanced bid will result in the lowest ultimate cost to the City; or which is so mathematically unbalanced as to result in an advance payment.

• A Bid that has been determined to be a mathematically or materially Unbalanced Bid may be rejected by the Ministry.

• Unbalanced Bid; that is, Bid in which the prices bid for some items are out of all proportion to those Bids of others.

• The mathematically Unbalanced Bid is a Bid containing Lump Sum or unit Pay Items which do not reflect reasonable actual costs plus a reasonable proportionate share of the Bidder’s anticipated profit, overhead costs and other indirect costs but not necessarily to the detriment of the T/LPA.

• The agency has to pay the penalty as mentioned in the following table for regularization of delay in submission of various securities such as Performance Security, Unbalanced Bid Security, Additional Performance Security etc.

• The Additional Performance Security shall be equal to fifty percent of Unbalanced Bid Amount.‌ The Additional Performance Security shall be deposited in lump sum by the successful bidder before execution of Agreement.

• The materially Unbalanced Bid is a mathematically Unbalanced Bid which the T/LPA determines leaves reasonable doubt that Award will result in the lowest ultimate cost to the T/LPA or that Award is in the public interest.

• Mathematically Unbalanced Bid means a bid containing lump sum or unit bid items which do not reflect reasonable actual costs plus a reasonable proportionate share of the bidder's anticipated profit, overhead costs, and other indirect costs.

More Definitions of Unbalanced Bid

Unbalanced Bid means an offer by the Contractor which (1) contains extremely low prices on items or types of work which are, as determined by the City in its sole discretion, unimportant or infrequently ordered or performed, and extremely high prices on items or types of work which are frequently ordered or performed, resulting in an effort to qualify as the low Bidder while charging disproportionately high prices for certain items or types of work; or (2) contains prices for phases of the work to be performed early in the course of the work under this Contract that are, as determined by the City in its sole discretion, disproportionately high relative to prices for later phases of the work, resulting in payment of a disproportionately high percentage of the total Contract price early in the Contract period.