Best Value Selection Clause Samples
The Best Value Selection clause establishes that contracts or awards will be granted based on an overall assessment of value rather than solely on the lowest price. In practice, this means that factors such as quality, technical capability, past performance, and other relevant criteria are considered alongside cost when evaluating proposals or bids. This approach ensures that the chosen vendor or solution offers the most advantageous combination of price and performance, ultimately aiming to achieve the best outcome for the contracting party rather than simply minimizing expenses.
Best Value Selection. This is a best value source selection acquisition (“Procurement”). There are three (3) evaluation factors: Capabilities and Approaches, Performance Confidence, and Cost/Price.
Best Value Selection. The City shall make best value selection and award decisions based strictly on the technical acceptability of each Proposal, the price of each Proposal and the City’s confidence in each Offeror’s ability to perform the requirements of the solicitation as the Offeror has proposed.
Best Value Selection. All contracts and purchases shall be handled in a manner to obtain the best value for PSA and its members. In determining the best value, the following may be considered: • purchase price, including payment discount terms • reputation of the Offeror and of the Offeror's goods or services • quality of the Offeror's goods or services • extent to which the goods or services meet the needs of PSA and its members • Offeror's past relationship with PSA • impact on the ability of PSA and its members to comply with laws and rules relating to contracting with historically underutilized businesses and nonprofit organizations employing persons with disabilities • the total long-term cost to PSA or its members to acquire the Offeror's goods or services • availability of repair and maintenance parts • conformity to specifications • financial condition • delivery terms • any relevant criteria specifically listed in the Request for Proposals
Best Value Selection. This procurement shall be conducted utilizing Best Value Selection (BVS), which seeks to select an offer based on the best combination of technical merit and price reasonableness -- i.e., "best value." "Best Value" is defined as the procurement process that results in the most advantageous acquisition decision for the Government and is performed through an integrated assessment and trade-off analysis between the non-cost/price factors and the cost/price factor. While the Government evaluation team and the Selection Official will strive for maximum objectivity, the selection process, by its nature, is subjective and, therefore professional judgment is implicit throughout the entire process. The Government reserves the right to award a contract on the basis of the initial offers received without discussion. Proposals should be submitted initially on the most favorable terms from a price and technical standpoint that the Offeror can submit to the Government. Advisors who are not Federal Government employees may assist in the evaluation and provide input regarding the offers.