Common use of Best Value Clause in Contracts

Best Value. The term “Best Value” means a value determined through an objective evaluation of criteria relating to price, features, functions, life-cycle costs, experience, and past performance. A Best Value determination may not always be the lowest price, and may include, without any limitation, the lowest cost proposal meeting the interests of Judicial Council and the objectives of the Project; the best proposal for a stipulated sum established by Judicial Council; or the consideration of price and other specified factors.

Best Value. The term “Best Value” means a value determined through an objective evaluation of criteria relating to price, features, functions, life-cycle costs, experience, and past performance. A Best Value determination may not always be the lowest price, and may include, without any limitation, the lowest cost proposal meeting the interests of Judicial Council and the objectives of the Project; the best proposal for a stipulated sum established by Judicial Council; or or, the consideration of price and other specified factors.