Formal bidding definition

Formal bidding means the solicitation of bids with written specifications and pursuant to publication of a Notice Inviting Bids at least once a week for two successive weeks in a newspaper of general circulation, the last publication to be made not less than two weeks nor more than six weeks prior to the opening of bids.
Formal bidding means bidding conducted pursuant to the procedure set forth in Section 4.12.310B.
Formal bidding means the procedure to be followed in the solicitation and receipt of sealed bids, wherein:

Examples of Formal bidding in a sentence

  • Formal bidding procedures for major purchases provide a framework for economical management of city resources and help ensure the city receives fair value by contracting with the lowest and best bidders.

  • Formal bidding procedures shall also be used for the purchase of goods, general services, and non-public works construction projects valued at over $45,000.

  • For service contracts estimated to cost more than one-hundred thousand (100,000) dollars: • Formal bidding procedures shall be followed as prescribed in NC General Statutes 143-129.; and • All contracts in this category shall be approved and awarded by Town Council.

  • Formal bidding should be used to assure all possible contractor/service providers are given the opportunity to bid on major City contracts, thereby assuring the City that it has received the most competitive price.

  • For Road Construction/Repair Contracts estimated to cost more than three-hundred thousand (300,000) dollars:• Formal bidding procedures shall be followed as described in NC General Statutes 143-129 for Road Construction/Repair Contracts estimated to cost more than three- hundred thousand (300,000) dollars, as opposed to the five-hundred thousand (500,000) dollar limit as set forth in the statute; and• All contracts in this category shall be approved and awarded by Town Council.

  • Formal bidding should be used to assure all possible vendors are given the opportunity to bid on major City purchases, thereby assuring the City that it has received the most competitive price.

  • Formal bidding procedure should be used for purchases from $5,001 to$10,000.

  • Formal bidding process: The Invitation to Bid (ITB) and Request for Proposal (RFP) are formal bidding processes with defined requirements and clear parameters for contract award.

  • Formal bidding – Formal advertisement is required for projects in the formal bidding range.

  • If the tangible personal property is not standardized/uniform in quality and the agreement is not awarded to the vendor with the lowest quote, written justification is required.$50,000 or more: Formal bidding required.The process of receiving sealed written bids for purchases exceeding the maximum purchasing authority of the Executive Director (any amount in excess of $50,000).


More Definitions of Formal bidding

Formal bidding means a contractor selection procedure that substantially complies with the process set forth in article V of this chapter for public works projects.
Formal bidding means issuing a solicitation to qualified Bidders that is prepared, advertised, and distributed with the intent of receiving bids or proposals in a sealed envelope(s) to be publicly opened at a set date and time. Formal bids are required when the estimated cost of the service or material is expected to be $25,000.00 or more. (Amended 03/17/11; O- 2011-02)

Related to Formal bidding

  • Bid Procedures Order means an Order of the Bankruptcy Court that (a) is in substantially the form set forth as Exhibit A to this Agreement or otherwise in a form reasonably satisfactory to the Sellers and acceptable to the Buyer in its sole discretion, and (b) approves procedures for the solicitation and consideration of competitive bids for the Assets under the terms and conditions of this Agreement and authorizing the protections set forth in Article 11 for the Buyer.

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

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Bidding Procedures Order means that certain order of the Bankruptcy Court, entitled “Order (A) Approving Sale Procedures and Bid Protections, Including Break-Up Fee(s), In Connection With Sale Of Substantially All Assets; (B) Scheduling An Auction For And Hearing To Approve One Or More Sales; (C) Approving Notice Of Respective Date, Time And Place For Auction And For Hearing On Approval Of Sale(s),” entered on January 16, 2009.

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

  • Bidder/Bidding Company means Bidding Company submitting the Bid. Any reference to the Bidder includes Bidding Company / including its successors, executors and permitted assigns as the context may require;

  • Solicitation Procedures Order means the order of the Bankruptcy Court or other court of competent jurisdiction approving the Debtors' proposed procedures to govern their solicitation of votes on this Plan.

  • Formal hearing means a board or department process that provides for the right of private parties to submit factual proofs as provided in § 2.2-4020 of the Administrative Process Act in connection with case decisions. Formal hearings do not include the factual inquiries of an informal nature provided in § 2.2-4019 of the Administrative Process Act.

  • Successful Bidder As defined in Section 7.01(c).

  • Interested Bidder means any person or persons who have submitted the Request Letter for Participation along with signed Bid Form, notarized affidavit, signed Declaration, requisite Earnest Money and other necessary documents to complete the eligibility check formalities to the satisfaction of the Liquidator.

  • Successful Bidder(s) means the bidder(s) to whom work in this tender is awarded.

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;

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

  • Selected Bidder or Successful Bidder means the Bidder selected pursuant to this RfS to set up the Project and supply electrical output as per the terms of PPA.

  • The Bidder means the individual or firm who participates in this tender and submits its bid.

  • Successful Bid means the Bid of the Successful Bidder for acquisition of the Corporate Debtor on Going Concern basis as declared by the Liquidator as per this Process Memorandum;

  • Sale Hearing means the hearing conducted by the Bankruptcy Court to approve the transactions contemplated by this Agreement.

  • Qualified Bidder As defined in Section 7.01(c).

  • Base Bid means a Bid for Public Works to be performed or Supplies or Services to be furnished under a City Contract, including additives, alternates, deductives, excluding force accounts, and taxes collected separately pursuant to Washington Administrative Code (“WAC”) 458-20-171.

  • Tenderer/Bidder means any persons, partnership firm or company submitting a sum or sums in the Bills of Quantities in accordance with the Instructions to Tenderers, Conditions of Contract Parts I and II, Specifications, Drawings and Bills of Quantities for the work contemplated, acting directly or through a legally appointed representative.

  • Designated Bidder means (a) an Eligible Assignee or (b) a special purpose corporation that is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business and that issues (or the parent of which issues) commercial paper rated at least "Prime-1" (or the then equivalent grade) by Xxxxx'x or "A-1" (or the then equivalent grade) by S&P that, in the case of either clause (a) or (b), (i) is organized under the laws of the United States or any State thereof, (ii) shall have become a party hereto pursuant to Section 8.07(d), (e) and (f) and (iii) is not otherwise a Lender.

  • Approval Order means an order entered by the Bankruptcy Court, pursuant to Sections 363 and 365 of the Bankruptcy Code, authorizing and approving, among other things, (a) the sale of the Purchased Assets (b) the assumption of the Assumed Liabilities by Purchaser and (c) the assumption and assignment of the Purchased Contracts, in accordance with the terms and conditions of this Agreement, which will be in a form and substance reasonably acceptable to the Parties.

  • Technical Bid means the bid submitted online through the electronic bidding platform, containing the documents as listed out in Clause 2.5.2 of this RFP;

  • Preferred Bidder means a bidder that is entitled to receive a reciprocal preference under the requirements of this chapter.

  • Qualified Bidder(s means a Bidder who fulfills the eligibility criteria listed out in the E-Auction Process Information Document.