Best Value definition

Best Value means the method by which a proposal/contract, if any, is awarded, in accordance with applicable laws, rules, and regulations. Best Value includes multiple parameters, including experience, references, quality of the Vendor's product(s)/service(s), and price, as detailed in Section 6.0 Evaluation and Award.

Best Value means the highest overall value to the City based on factors that include, but are not limited to, price, quality, design, and workmanship.

Best Value means the value placed upon quality, service, past performance and price.

Examples of Best Value in a sentence

• Framework Pricing Management Bidders must continually seek to offer UKRI Best Value for Money, to support this we are able to accept price reductions on Supplies at any point during the term of the Framework.

• Review Strategies and Identify Best Value Path: We will examine the various paths with the idea of narrowing the selection to the best value available.

• B10.1. The Service Provider must to the extent reasonably practicable co-operate with and assist the Customer (where the Customer is a local authority) in fulfilling its Best Value Duty.

• Purchase will be made based upon Best Value Determination (BVD Form) unless a waiver is granted by DGS.

• The State reserves the right to solicit Best and Final Offers (BAFOs) from Vendors, principally in situations in which proposal costs eclipse available funding or the State believes none of the competing proposals presents a Best Value (lowest and best proposal) opportunity.

More Definitions of Best Value

Best Value means the method by which a contract, if any, is awarded, in accordance with applicable laws, rules, and regulations. Best Value includes multiple parameters, including experience, references, quality of Vendor’s product(s) and/or services, and price.

Best Value means the most advantageous balance of price, quality, service, performance, and other elements, as defined by the Board, achieved through methods in accordance with this section and determined by objective performance criteria that may include price, features, long-term functionality, life-cycle costs, overall sustainability, and required services.

Best Value means the optimal balance of performance and cost determined in accordance with a pre-defined evaluation plan. Best value may include a time horizon that reflects the overall life cycle of a given asset.

Best Value means a contract and procurement process to be followed by an authority that encourages and considers bids from locally headquartered companies and that considers use of the local workforce.

Best Value means the basis for awarding a contract for services to the bidder which best optimizes quality, cost and efficiency among Responsive and Responsible bidders. See State Finance Law § 163(1)(j).

Best Value means the legal duty to secure continuous improvement in the performance of the Council’s functions as set out in section 1 of the Local Government in Scotland Act 2003 as follows:-

Best Value means the expected outcome of an acquisition that, in the Government’s estimation, provides the greatest overall benefit in response to the requirement.