Price Bid Evaluation Sample Clauses
The Price Bid Evaluation clause outlines the process by which submitted price bids are assessed and compared to determine the most favorable offer. Typically, this involves reviewing all compliant bids to ensure they meet the specified requirements and then analyzing the pricing to identify the lowest or most advantageous bid, sometimes factoring in additional criteria such as discounts, payment terms, or total cost of ownership. The core function of this clause is to ensure a transparent and objective method for selecting a winning bid, thereby promoting fairness and value for money in procurement or contracting processes.
Price Bid Evaluation. The Price-Bid evaluation is done only for those bids which are responsive and which have a Final Technical score which is more than or equal to the minimum score for technical proposal mentioned in sub-section A above. The net cost quoted will be calculated as simple addition of all the cost mentioned in the price proposal (Clause D.3, Appendix D). The price proposal score shall be calculated with following formula: Price proposal score = (LP/FP)*50, where LP: Lowest Price offer; FP: Firm’s Price
Price Bid Evaluation i. The price bids of only technically qualified Bidders, who will also qualify prescribed laptop testing by ReBIT, will be opened on the notified date and time and reviewed to determine whether the price bids are substantially responsive.
ii. If a Bidder quotes NIL price / consideration, the bid shall be treated as unresponsive and will not be considered.
iii. Price bid evaluation shall be considered as below in case of any kind of discrepancy:
a. If there is a discrepancy between words and figures, the amount in words shall prevail
b. Where there is a discrepancy between the item‐wise quoted amounts and the total quoted amount, the item‐wise rate will govern.
c. If there is a discrepancy between percentage and amount, the amount calculated as per the stipulated percentage basis shall prevail
d. If there is discrepancy between unit price and total price, the unit price shall prevail
e. Where there is a discrepancy between the phase-wise quoted amounts and the total quoted amount, the phase-wise rate will govern unless, in the opinion of REBIT, there is obviously a gross error such as a misplacement of a decimal point, in which case the line-item total will govern.
f. If there is a discrepancy in the total, the correct total shall be arrived at by ReBIT.
iv. The amount stated in the bid form, adjusted in accordance with the above procedure, shall be considered as binding, unless it causes the overall bid price to rise, in which case ReBIT will be free to accept the Total Bid amount as mentioned in the field “Total Cost of Ownership (TCO)” in Annexure-H.
v. If the Bidder does not accept the arithmetical corrections made by ReBIT, its proposal will be rejected.
vi. Items described in technical proposal but not priced in price bid shall be assumed to be included in the prices of other activities or items.
vii. Bidders can quote for all model / make specified in the Annexure H and the least price would be considered.
Price Bid Evaluation. 1. For each “MW segment” of work, BHEL shall be resorting to Reverse Auction (RA) (Guidelines as available on ▇▇▇.▇▇▇▇.▇▇▇) for this tender. RA shall be conducted among all the techno-commercially qualified bidders. Price bids of all techno-commercially qualified bidders shall be opened and same shall be considered as initial bids of bidders in RA. In case any bidder(s) do(es) not participate in online Reverse Auction, their sealed envelope price bid along with applicable loading, if any, shall be considered for ranking.”
2. BHEL reserves the right for discussion/negotiation with lowest bidder (L1) in each “MW segment” as per table-1 of work to finalize lowest bid value for each “MW segment”.
3. BHEL shall empanel 1 (One) bidders, on rate contract basis for each “MW segment” as per table-1.
4. Further award of work shall be as per BHEL policy and guidelines and General Condition of contract.
5. The empanelment for rate contract will be for a period of 2 years for each segment of work as per table-1. During this period the agency/bidders performance will be evaluated on a continuous basis on works executed in BHEL project sites. BHEL reserves the rights to disqualify an agency/bidders based on their adverse performance levels if any during this period. In such case, BHEL may get the work done from bidders empaneled in other segments subject to matching of price of the disqualified bidder.
6. In the event of the L1 vendor of a particular segment found to be getting overloaded with various projects beyond their logical and implementation capacity then the vendor shall inform BHEL regarding the status and accordingly BHEL shall place the work order on L1 rate the segment to other segment L1 vendor subject to matching of L1 price of the segment.
7. This rate contract is not an agreement and is not an offer or invitation to enter into an agreement of any kind with any party by BHEL.
Price Bid Evaluation. The Employer shall examine the quantities of the items submitted by bidders, and determine whether the items including educational and/or research equipment fully meet the issued specification. All the responsive and qualified bidder’s price bids will be opened at public in compliance with ITB 35.
Price Bid Evaluation. Price Bids of the bidders qualified in Techno-commercial Bid would be opened and the most economical option (lowest quote) will be considered as L1/ Successful bidder.