Common use of Award contract Clause in Contracts

Award contract. ▇▇▇▇▇ reserves the right to reject all of the bids for any reason and not award the Contract to any Bidder. ▇▇▇▇▇ reserves the right to award the Contract to a Bidder other than the lowest Bidder and to negotiate any amendment to the terms of the contract with the successful Bidder. Abraj reserves the right to seek clarification from bidders during the evaluation process. Bids will be evaluated by Company to determine the best qualified and most competitive. Bidder taking into consideration all aspects of the bid, including but not limited to: a. The bidder’s technical ability to perform the job to Company specifications and the suitability of the proposed equipment, tools, goods, processes and programs. b. The rates offered. c. Bidder's financial integrity, past performance, reputation within the industry. In the event that Company estimates that the bid price exceeds competitive limits, it may request the bidder to reconsider the bid price with the aim to lower the price, and such a request shall not be considered as a rejection or acceptance by the Company until the validity period specified herein. Notification of Acceptance: By way of a Letter of Intent to Award, Company shall notify the successful Bidder of Company acceptance of its Tender subject to the following conditions precedent: Signing of the Contract. For the purpose of determining the start dates of the Performance Bond and the Insurances, the date of the Letter of Intent to Award shall be used unless another date is otherwise stipulated in the Letter of Intent to Award. If the successful Bidder fails to submit the documentation per (a) and (b) above within the time period stipulated in the Letter of Intent to Award, Company may, at its sole discretion, without the need for summons or notice or other legal formalities, exercise any rights stipulated in the Tender Documents, and notify the successful Bidder that the Contract is, ipso facto, terminated. The Effective Date, as entered in the Agreement, shall be determined at the sole discretion of Company.

Award contract. ▇▇▇▇▇ reserves the right to reject all of the bids for any reason and not award the Contract to any Bidder. ▇▇▇▇▇ reserves the right to award the Contract to a Bidder other than the lowest Bidder and to negotiate any amendment to the terms of the contract with the successful Bidder. C Abraj reserves the right to seek clarification from bidders during the evaluation process. Bids will be evaluated by Company to determine the best qualified and most competitive. Bidder taking into consideration all aspects of the bid, including but not limited to: a. The bidder’s technical ability to perform the job to Company specifications and the suitability of the proposed equipment, tools, goods, processes and programs. b. The rates offered. c. Bidder's financial integrity, past performance, reputation within the industry. In the event that Company estimates that the bid price exceeds competitive limits, it may request the bidder to reconsider the bid price with the aim to lower the price, and such a request shall not be considered as a rejection or acceptance by the Company until the validity period specified herein. Notification of Acceptance: By way of a Letter of Intent to Award, Company shall notify the successful Bidder of Company acceptance of its Tender subject to the following conditions precedent: Signing of the Contract. For the purpose of determining the start dates of the Performance Bond and the Insurances, the date of the Letter of Intent to Award shall be used unless another date is otherwise stipulated in the Letter of Intent to Award. If the successful Bidder fails to submit the documentation per (a) and (b) above within the time period stipulated in the Letter of Intent to Award, Company may, at its sole discretion, without the need for summons or notice or other legal formalities, exercise any rights stipulated in the Tender Documents, and notify the successful Bidder that the Contract is, ipso facto, terminated. The Effective Date, as entered in the Agreement, shall be determined at the sole discretion of Company.