Commercial Practice Sample Clauses
The Commercial Practice clause defines the standard business practices and customs that will govern the interpretation and execution of the contract. In practice, this means that if the contract is silent or ambiguous on a particular issue, the parties will refer to the established norms and procedures commonly accepted in the relevant industry to resolve the matter. This clause ensures that both parties have a shared understanding of expectations and reduces the risk of disputes arising from differing interpretations of industry standards.
Commercial Practice. Works under Part A of the Project costing less than $200,000 equivalent per contract, up to an aggregate amount not to exceed $1,000,000, may be procured in accordance with established practices acceptable to the Association.
Commercial Practice. Goods to be procured by purchasers not required to follow the Borrower’s public procurement procedures, estimated to cost $5,000,000 equivalent or less per contract, may be procured in accordance with the normal commercial practices of such purchasers at a reasonable price, account being taken also of other relevant factors such as time of delivery and efficiency and reliability of goods and availability of maintenance facilities and spare parts therefor. Part D: Review by the Association of Procurement Decisions
1. Prior Review With respect to each contract for goods estimated to cost the equivalent of $5,000,000 or more, the procedures set forth in paragraphs 2 and 3 of Appendix 1 to the Guidelines shall apply.
Commercial Practice. Goods to be procured by purchasers not required to follow the Borrower’s public procurement procedures, estimated to cost $5,000,000 equivalent or less per contract, may be procured in accordance with the normal commercial practices of such purchasers at a reasonable price, account being taken also of other relevant factors such as time of delivery and efficiency and reliability of goods and availability of maintenance facilities and spare parts therefor. Part D: Review by the Bank of Procurement Decisions
1. Prior Review With respect to each contract for goods estimated to cost the equivalent of $5,000,000 or more, the procedures set forth in para- graphs 2 and 3 of Appendix 1 to the Guidelines shall apply.
Commercial Practice. (a) Goods for a private sector Investment Enterprise estimated to cost the equivalent of $50,000 or less per contract up to an aggregate amount not to exceed the equivalent of $30,000,000 from the proceeds of the Credit and the Loan may be procured on the basis of established commercial practice acceptable to the Bank.
(b) Civil works for a private sector Investment Enterprise estimated to cost the equivalent of $5,000,000 or less per contract may be procured on the basis of established commercial practice acceptable to the Bank.
(c) Energy Efficiency Services estimated to cost the equivalent of $50,000 or less per contract up to an aggregate amount not to exceed the equivalent of $5,000,000 from the proceeds of the Credit and the Loan may be procured on the basis of established commercial practice acceptable to the Bank.
Commercial Practice. Commercial practices of the printing industry apply as long as there is no different agreement.
Commercial Practice. Goods and works procured for Subprojects under Parts B (4); D (2); and E
Commercial Practice. Goods to be procured by Beneficiaries under Part B (2) of the Project, may be procured in accordance with the normal commercial practices of such Beneficiaries at a reasonable price, account being taken also of other relevant factors such as time of delivery and efficiency and reliability of the goods and availability of maintenance facilities and spare parts therefor. Part D: Review by the Association of Procurement Decisions
1. Procurement Planning Prior to the issuance of any invitations to prequalify for bidding or to bid for contracts, the proposed procurement plan for the Project shall be furnished to the Association for its review and approval, in accordance with the provisions of paragraph 1 of Appendix 1 to the Guidelines. Procurement of all goods and works shall be undertaken in accordance with such procurement plan as shall have been approved by the Association, and with the provisions of said paragraph 1.
2. Prior Review With respect to each contract for goods estimated to cost the equivalent of $200,000 or more and for works estimated to cost the equivalent of $500,000 or more, the procedures set forth in paragraphs 2 and 3 of Appendix 1 to the Guidelines shall apply.
Commercial Practice. Goods to be procured by Beneficiaries may be procured in accordance with the normal commercial practices of such Beneficiaries at a reasonable price, account being taken also of other relevant factors such as time of delivery and reliability of the goods and availability of maintenance facilities and spare parts therefor. Part D: Review by the Association of Procurement Decisions
1. Procurement Planning Prior to the issuance of any invitations to prequalify for bidding or to bid for contracts, the proposed procurement plan for the Project shall be furnished to the Association for its review and approval, in accordance with the provisions of paragraph 1 of Appendix 1 of the Guidelines. Procurement of all goods and works shall be undertaken in accordance with such procurement plan as shall have been approved by the Association, and with the provisions of said paragraph 1.
2. Prior Review With respect to: (a) the first three contracts for works to be procured pursuant to paragraph 3 Part C of this Schedule, the procedures for such prior review set forth as part of the procedures referred to in said paragraph 3, shall apply; and (b) each contract for goods and works estimated to cost the equivalent of $200,000 or more the procedures set forth in paragraphs 2 and 3 of Appendix 1 of the Guidelines shall apply.
Commercial Practice. Services to assist Eligible Enterprises in carrying out activities under Part A.1 of the Project may be procured in accordance with commercial practices acceptable to the Bank. Part D: Review by the Bank of the Selection of Consultants