UNBALANCED BIDS Sample Clauses

UNBALANCED BIDS. The Department will review all unit prices submitted by the apparently lowest responsible bidder and will decide whether any of the unit prices are excessively above or below a reasonable cost analysis value determined by the Engineer. In the event any unit prices are determined to be unbalanced and contrary to the interest of the Department, the right is reserved to reject such bid at the discretion of the Department or to award the Contract and limit progress payments on units of work performed on any excessively priced items to costs that are satisfactorily documented by the Contractor plus 20 percent, until 85 percent of the Contract has been completed. Upon completion of 85 percent of the Contract, the Contractor will be reimbursed in accordance with Subsection 109.08 of the Standard Specifications for the accepted quantities of work performed on the excessively priced items.
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UNBALANCED BIDS. A Bid shall be mathematically unbalanced if the Bid contains unit pricing that does not reflect reasonable costs (including actual labor and material cost, overhead and profit) for the performance of the bid item(s) in question. A Bid shall be materially unbalanced if there is a reasonable doubt that award of the mathematically unbalanced Bid will result in the lowest ultimate cost to the County. A Bid that is, in the sole discretion of the County Purchasing Agent, both mathematically and materially unbalanced, may be rejected as non-responsive. SPECIFICATIONS
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UNBALANCED BIDS. Bids that are judged to be mathematically or materially unbalanced shall be cause for the bid to be rejected a non-responsive.
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UNBALANCED BIDS a. 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.
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UNBALANCED BIDS. In case the L1 Bidder quotes an offer which is lower than 85% of the estimated block cost of Rs.272.65 Crores (unbalance on the lower side) then the Bid shall be considered as an unbalanced Bid. For such unbalanced bids, if the Corporation decides to award the Contract and issues the Letter of Acceptance (LOA) to award such contract, the successful Bidder shall, in addition to completing all necessary formalities as per the relevant provisions of the NIB, ITB, LOA & these bid documents, submit additional security as a ‘security towards unbalanced bid’. Failure to timely comply with this requirement shall be treated as a fundamental breach of the contract and the LOA will be withdrawn & the EMD will be forfeited, without any recourse to any claim. In case the Corporation decides that the unbalanced Bid (lower) is not workable and/or acceptable, then no Letter of Acceptance shall be issued and then the bid shall stand summarily rejected. All communication in respect of such unbalanced bids shall be through the Bid Authority only who shall be intimating the requirements and clarifications desired by the Corporation and all representations, communications and justifications in this respect shall be made to / submitted by the lowest bidder to the Bid Authority only. Any communication from or to any other authority/officer in the Corporations shall not be considered as valid communication at all and shall stand summarily rejected. The Contractor shall pay additional Security of an amount equal to the difference in 85% of the estimated cost put to the Bid and the quoted cost by the successful bidder as a ‘security towards unbalanced bid’ for due fulfillment of the contract, unless otherwise stated in the tender documents.
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UNBALANCED BIDS. A bid which is materially unbalanced as to prices for the Base Items and the Optional Items (if applicable) may be rejected as non-responsive or otherwise not considered for award. An unbalanced offer is one which is based on prices significantly less than cost for some work and prices which are significantly overstated for other work.
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UNBALANCED BIDS. As determined by the City's Chief Procurement Officer in the CPO’s discretion, the City may consider a solicitation response irregular and reject it if any of the prices are excessively unbalanced (either above or below the amount of a reasonable response) to the potential detriment of the City. The City further reserves the right to require backup documentation from the respondent if, in the Chief Procurement Officer's opinion, the prices are, or appear to be, excessively unbalanced.
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UNBALANCED BIDS. 02-17-15 1
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Related to UNBALANCED BIDS

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  • Chargebacks Merchant shall use all reasonable methods to resolve disputes with the cardholder. Should a chargeback dispute occur, Xxxxxxxx shall promptly comply with all requests for information from PayPal. Merchant shall not attempt to recharge a cardholder for an item that has been charged back to the cardholder, unless the cardholder has authorized such actions.

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  • Overdrafts The Trust is responsible for maintaining an appropriate level of short term cash investments to accommodate cash outflows. The Trust may obtain a formal line of credit for potential overdrafts of its custody account. In the event of an overdraft or in the event the line of credit is insufficient to cover an overdraft, the overdraft amount or the overdraft amount that exceeds the line of credit will be charged in accordance with the fee schedule set forth on Exhibit C hereto (as amended from time to time)

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