Formal Quotation definition

Formal Quotation means a document that sets out particular requirements for goods and/or services.
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Formal Quotation means a quotation received after and as a result of advertisement for at least 7 (seven) days together if any other methods of invitation;
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Formal Quotation means a price quotation (fixed as to the total price or on a unit basis or both) for specific and defined Goods or Services that is received from a Bidder in writing in response to a Request for Quotation (Formal).
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Examples of Formal Quotation in a sentence

  • No Formal Quotation will be awarded to a bidder who is not registered on the Centralised Supplier Database (CSD).

  • Formal Quotation will be evaluated in terms of their responsiveness to the quotation specifications and requirements as well as such additional criteria as set out in this set of quotation documents.

  • For the receipt and opening of a Formal Quotation there must be strict compliance with the requirements of e-procurement.

  • Negotiations must not take place unless the Formal Quotation or Tender specifically reserves the right to do so.

  • TENDER AND FORMAL QUOTATION PROCEDURES 6.1 Tendering and Formal Quotation OptionsOfficers shall select one of the following procedures.

  • Tendering and Formal Quotation OptionsHeads of Service shall select one of the following procedures.

  • The Contractor shall perform regular quality assessments and, upon completion of theWorks, present the UFS with a valid, itemised and quantified invoice (which must be in line with the Formal Quotation and Purchase Order) within 5 (FIVE) Business Days from the date of completion of the Works.

  • The signed original Formal Quotation will be delivered to the customer.

  • Only in the event that the UFS accepts the Contractor’s Formal Quotation, will the Contractor be deemed to be appointed to perform the Works and issued with a formal written purchase order (“Purchase Order”).9.1. If the Formal Quotation is not approved, then the Contractor shall not receive a written Purchase Order.

  • Anytime the City releases a new solicitation it will contain a suffix of one of the following types: B = Invitation for Bid (ITB)R = Request for Proposal (RFP) L = Letter of interest (LOI)Q = Request for Qualifications (RFQ) RB = Re-BidRP = Re-ProposalFQ = Formal Quotation (RFFQ) IQ = Informal Quotation (RFIQ) HQ = Housing Quotation (RFHQ) This prefix/suffix will determine what type of solicitation the City will be utilizing.


More Definitions of Formal Quotation

Formal Quotation means a written offer to sell, or a “bid” obtained from suppliers, to supply stipulated goods or services at a particular price based on a document issued by the Municipality for goods or services over $10,000 and less than $25,000;
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Formal Quotation means an offer in writing by way of a call for Quotation to execute certain specified work or to supply certain specified goods or services at an estimated value of $50,000 to $100,000 and at a specific rate in response to the information contained in the call for quotation.
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Formal Quotation means a written quotation for acquisitions $10,000 and above, in a form approved by the Director of Corporate Services;
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Formal Quotation means a “Quotation” obtained in writing.
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Related to Formal Quotation

  • Full Quotation means, in accordance with the Quotation Method, each firm quotation obtained from a Dealer at the Valuation Time, to the extent reasonably practicable, for an amount of the Reference Obligation with an outstanding principal balance equal to the Quotation Amount;

  • Request for Quotation (“RFQ”) means a document or documents containing the specification, and proposed terms and conditions issued to potential suppliers to solicit written Quotations.

  • formal written price quotation means quotations referred to in paragraph 12 (1) (c) of this Policy;

  • Request for Quotation (RFQ means the solicitation document issued by the DFMDC to potential bidders for the purchase of equipment, supplies, and/or services as described in the document. The definition includes these Terms and Conditions as well as all Pricing Pages, Exhibits, Attachments, and Amendments thereto.

  • Mid-Market Swap Rate Quotation means a quotation (expressed as a percentage rate per annum) for the relevant Mid-Market Swap Rate;

  • Request for Quotations means a Written or oral request for prices, rates or other conditions under which a potential Contractor would provide Goods or perform Services, Personal Services or Public Improvements described in the request.

  • 5-year Mid-Swap Rate Quotations means the arithmetic mean of the bid and offered rates for the annual fixed leg (calculated on a 30/360 day count basis) of a fixed-for-floating euro interest rate swap transaction which:

  • written or verbal quotations means quotations referred to in paragraph 12(1)(b) of this Policy.

  • Weighted Average Quotation means, in accordance with the Quotation Method, the weighted average of firm quotations obtained from Dealers at the Valuation Time, to the extent reasonably practicable, each for an amount of the Reference Obligation with an outstanding principal balance (which, for the avoidance of doubt, shall exclude any amounts of capitalised interest) of as large a size as available but less than the Quotation Amount (but of a size equal to the Minimum Quotation Amount or, if quotations of a size equal to the Minimum Quotation Amount are not available, quotations as near in size as practicable to the Minimum Quotation Amount) that in the aggregate are approximately equal to the Quotation Amount and Section 7.11 of the Credit Definitions shall be amended accordingly.

  • Quotation Date means, in relation to any Interest Period (or any other period for which an interest rate is to be determined under any provision of a Finance Document), the day on which quotations would ordinarily be given by leading banks in the London Interbank Market for deposits in the currency in relation to which such rate is to be determined for delivery on the first day of that Interest Period or other period;

  • Reference Treasury Dealer Quotation means, with respect to the Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at or before 5:00 p.m., New York City time, on the third Business Day preceding such redemption date.

  • Reference Treasury Dealer Quotations means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date.

  • Reference German Bund Dealer Quotations means, with respect to each Reference German Bund Dealer and any relevant date, the average as determined by the Issuer of the bid and offered prices for the Comparable German Bund Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such Reference German Bund Dealer at 3:30 p.m. Frankfurt, Germany time on the third Business Day preceding the relevant date.

  • Reference Government Bond Dealer Quotations means, with respect to each Reference Government Bond Dealer and any date of redemption, the arithmetic average, as determined by the Determination Agent, of the bid and offered prices for the Reference Bond (expressed in each case as a percentage of its nominal amount) at the Quotation Time on the Reference Date quoted in writing to the Determination Agent by such Reference Government Bond Dealer; and

  • Reference Dealer Rate means with respect to the Reference Dealers and the Make Whole/Three- Month Par Call Optional Redemption Date, the average of the five quotations of the mid-market annual yield to maturity of the Reference Stock or, if the Reference Stock is no longer outstanding, a similar security in the reasonable judgment of the Reference Dealers, at the Determination Time and on the Determination Date in each case specified in the applicable Final Terms, quoted in writing to the Issuer by the Reference Dealers; and

  • LIBOR Quoted Rate means, for any day, the rate per annum equal to the quotient of (i) the rate per annum (rounded upwards, if necessary, to the next higher one hundred-thousandth of a percentage point) for deposits in U.S. Dollars for a one-month interest period which appears on the LIBOR01 Page as of 11:00 a.m. (London, England time) on such day (or, if such day is not a Business Day, on the immediately preceding Business Day) divided by (ii) one (1) minus the Eurodollar Reserve Percentage.

  • Quotation means the Bidder’s response made on the Quotation form set out on Part E of this RFQ with all appendices or addenda submitted by the Bidder in response to the RFQ;

  • Interest Quotation Day means, in relation to any period for which Interest Rate is to be determined, 2 Quotation Business Days before the first day of the relevant Interest Period.

  • Error Quote (Spike) means an Error Quote with the following characteristics:

  • LIBOR Market Index Rate means, for any day, the rate for one-month U.S. dollar deposits as reported on Telerate Page 3750 as of 11:00 a.m., London time, for such day, provided, if such day is not a LIBOR Business Day, the immediately preceding LIBOR Business Day (or if not so reported, then as determined by the Swingline Lender from another recognized source or interbank quotation).

  • Specified Time means a time determined in accordance with Schedule 9 (Timetables).

  • Market Quotation means, with respect to one or more Terminated Transactions and a party making the determination, an amount determined on the basis of quotations from Reference Market-makers. Each quotation will be for an amount, if any, that would be paid to such party (expressed as a negative number) or by such party (expressed as a positive number) in consideration of an agreement between such party (taking into account any existing Credit Support Document with respect to the obligations of such party) and the quoting Reference Market-maker to enter into a transaction (the “Replacement Transaction”) that would have the effect of preserving for such party the economic equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent and assuming the satisfaction of each applicable condition precedent) by the parties under Section 2(a)(i) in respect of such Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after that date. For this purpose, Unpaid Amounts in respect of the Terminated Transaction or group of Terminated Transactions are to be excluded but, without limitation, any payment or delivery that would, but for the relevant Early Termination Date, have been required (assuming satisfaction of each applicable condition precedent) after that Early Termination Date is to be included. The Replacement Transaction would be subject to such documentation as such party and the Reference Market-maker may, in good faith, agree. The party making the determination (or its agent) will request each Reference Market-maker to provide its quotation to the extent reasonably practicable as of the same day and time (without regard to different time zones) on or as soon as reasonably practicable after the relevant Early Termination Date. The day and time as of which those quotations are to be obtained will be selected in good faith by the party obliged to make a determination under Section 6(e), and, if each party is so obliged, after consultation with the other. If more than three quotations are provided, the Market Quotation will be the arithmetic mean of the quotations, without regard to the quotations having the highest and lowest values. If exactly three such quotations are provided, the Market Quotation will be the quotation remaining after disregarding the highest and lowest quotations. For this purpose, if more than one quotation has the same highest value or lowest value, then one of such quotations shall be disregarded. If fewer than three quotations are provided, it will be deemed that the Market Quotation in respect of such Terminated Transaction or group of Terminated Transactions cannot be determined.

  • Quotation Amount means the amount in the Relevant Currency stated as the notional amount with respect to a particular Limit Bid, Limit Offer, Initial Market Bid, Initial Market Offer, Physical Settlement Buy Request or Physical Settlement Sell Request in a Participating Bidder's Initial Market Submission, a Physical Settlement Request or Limit Order Submission, as applicable, which amount in each case will be an integral multiple of an amount equal to the Quotation Amount Increment.

  • Non-LIBOR Quoted Currency means any currency other than a LIBOR Quoted Currency.

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Quotation Day means, in relation to any period for which an interest rate is to be determined, two (2) Business Days before the first day of that period.