Bid Discount definition

Bid Discount means the application of a percentage discount to the total amount of a bid submitted by a Bidder for a Contract solely for the purpose of bid comparisons when evaluating the lowest and best bid, or lowest responsible bid. The use of a Bid Discount for bid comparison does not alter the total amount of the bid submitted by a Bidder or the Contract executed based on a bid.
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Bid Discount means a reduction in the bid amount on construction and goods and services procurements for evaluation purposes only. The maximum discount shall not exceed$50,000. The discounted bid amount is used in the evaluation process to award the contract to the lowest, responsive, responsible, and best bidder. The bid discount is applied to eligible certified MBE/WBE bidders.
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Examples of Bid Discount in a sentence

  • Contracting Departments may apply a Bid Discount of five percent (5%) for bids received from certified MBE and FBE Bidders to remediate past or present discrimination, where the City has developed or obtained a legally sufficient basis in evidence to demonstrate past or present discrimination.

  • The Contracting Department shall apply a Bid Discount in the following amounts for bids received from LPE and/or SUBE prime contractors: A Bid Discount of two percent (2%) for bids received from LPEs. A Bid Discount of two percent (2%) for bids received from SUBEs.

  • If a Contracting Department does not apply an MBE or FBE Bid Discount to one or more bids for the award of a Contract, the Contracting Department may apply a Bid Discount in the following amounts for bids received from CSB prime contractors: A Bid Discount of five percent (5%) for bids received from CCSBs.A Bid Discount of five percent (5%) for bids received from RCSBs, provided no bids are received from CCSBs.

  • If a Contracting Department applies the MBE/FBE subcontracting Bid Discount to the bid of a Bidder that would not have otherwise been the lowest and the Bidder is awarded the Public Improvement Contract, the City shall retain as Additional Retainage an amount equal to the total dollar amount by which the bid was adjusted for bid comparison in addition to the contract retainage required under Section 185.41 of the Codified Ordinances of the City of Cleveland.

  • Unless otherwise provided in this Program, Developers shall apply a ten percent (10%) Bid Discount and/or Ratings Bonus’ to any Proposal/Bid from a Certified SBE for all contracts estimated to be between $10 Thousand and $10 Million.

  • The Bidder will be required to complete the required forms as outlined in the following section.8.2 Overview of Bid Discount Bid discounts are incentives that allow an original bid amount to be discounted for evaluation purposes in determining the lowest responsive, responsible bidder, while the original bid amount will be the basis for contract award.

  • The Contracting Department shall apply a Bid Discount in the following amounts for bids received from LPE and/or SUBE prime contractors: A Bid Discount of two percent (2%) for bids received from LPEs.A Bid Discount of two percent (2%) for bids received from SUBEs.

  • If a Contracting Department does not apply an MBE or FBE Bid Discount to one or more bids for the award of a Contract, the Contracting Department may apply a Bid Discount in the following amounts for bids received from CSB prime contractors: A Bid Discount of five percent (5%) for bids received from CCSBs.A Bid Discount of five percent (5%) for bids received from RCSBs, provided no bids are received fromCCSBs.

  • If applicable, a Contract Monitoring Division (CMD) Contract Compliance Officer will assess Bid compliance with Local Business Enterprise (LBE) requirements and assign a Bid Discount to eligible Bids.

  • If a Contracting Department applies the MBE/FBE subcontracting Bid Discount to the bid of a Bidder that would not have otherwise been the lowest, and the Bidder is awarded the Public Improvement Contract, the City shall retain as Additional Retainage an amount equal to the total dollar amount by which the bid was adjusted for bid comparison in addition to the contract retainage required under Section 185.41 of the Codified Ordinances of the City of Cleveland.