Parallel Competition Sample Clauses
The Parallel Competition clause defines the rules and limitations regarding a party's ability to engage in similar or competing activities alongside the main agreement. Typically, this clause outlines whether and to what extent the parties may participate in projects, partnerships, or business ventures that could compete with the subject matter of the contract. For example, it may restrict a company from working with direct competitors or launching similar products during the contract term. Its core function is to prevent conflicts of interest and protect the parties’ commercial interests by ensuring that sensitive information or resources are not used to benefit competing ventures.
Parallel Competition. (a) The Bank will send in writing to all Providers an Assignment Terms of Reference including at a minimum:
i. the scope of Services required;
ii. the award criteria and weightings;
iii. the Clarifications deadline and the Closure Date;
iv. the remuneration to be paid upon the successful delivery of the tasks based on the rates laid down in this Agreement; and
v. the information required in the Proposal, which may include Total price for the Assignment; or A description of the approach to perform the Services; or A schedule for delivery of the Services; or Total man/days.2
(b) Any clarifications requested by a Provider in relation to an Assignment Terms of Reference shall be submitted in writing to the Bank by the deadline date indicated in the Assignment Terms of Reference. Responses will be issued by the Bank in writing to all Providers;3 Proposals shall be in conformance with the fixed terms contained in the Offer such as rates, as may be amended in accordance with this Agreement;4
(d) Providers shall submit their Proposals to the Bank in writing;5
(e) The Bank shall award each Assignment in accordance with the award criteria and weightings set out in the Assignment Terms of Reference. The award criteria shall at all times be the most economically advantageous Proposal in terms of: 6
i. Total price (20-40%); and
ii. Technical merit (60-80%), comprising one or more of the following criteria:
1. Proposed team for the delivery of the Services (30-80%); and
2. Methodology for service delivery and technical resources (30-80%).
(f) The Bank shall not be responsible for any costs incurred by Providers in the preparation of a Proposal or any required site visit.