Competitive Tender Process definition

Competitive Tender Process means a process by which Pension Scheme Trustees, or another person appointed by them to act on their behalf, have invited and used reasonable endeavours to obtain Bids for the provision of Fiduciary Management Services from three or more unrelated Fiduciary Management Providers and have evaluated the Bids received; and for these purposes ‘unrelated’ means independent of each other and thereby in a position to compete with each other;
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Competitive Tender Process means a process by which the Group invites and evaluates bids for the provision of statutory audit services from two or more audit firms.
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Competitive Tender Process means a process by which an existing Client acting independently of the incumbent Consultant invites bids from at least two Consultants for an Investment Services Contract and evaluates any bids received independently in good faith. Completion of a Competitive Tender Process shall be construed as having occurred either on the effective date of the Consultant Appointment or upon confirmation of the reappointment of the Consultant should the pre-existing Investment Services Contract remain in force following a Competitive Tender Process.
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Examples of Competitive Tender Process in a sentence

  • Value of Goods/ ServicesMinimum Number of Quotations or Tenders to be ObtainedOver £1000 - £25003 informal quotations obtained and recorded to confirm best use of funding (telephone/internet)Over £2500 - £10,0003 written quotations (email is fine)£10,000+3 formal tenders using the Invitation to tender documentation 1.3 Competitive Tender Process (CTP) is required on all goods or services procured above £2,500 except where exemptions apply as detailed in Paragraph 2 below.

  • Where a zoning district boundary line divides a parcel of land, the parcel shall be deemed split into the different zones and each portion shall be governed by the regulations pertinent to that district.

  • The Order does not seek to be overly prescriptive as to the use of a particular tender process, however, for the avoidance of doubt, a tender process conducted in accordance with the Regulation would be deemed a Competitive Tender Process for the purposes of this Order.

  • As noted above, a Competitive Tender Process includes tender processes held in periods when the Company was not a FTSE 350 Company.

  • Similarly, disclosure requirements under Article 4 (as to the timing of the next proposed Competitive Tender Process) would take into account periods when the Company was not a FTSE 350 Company in determining the timing of the disclosure.

  • Such tender processes would therefore be relevant in determining the timing of the next Competitive Tender Process under Article 3.1(a).

  • We presume it was intended to be used in place of the undefined term “bid” in the definition of Competitive Tender Process.

  • On 1 June 2021 (and subsequently on 1 June 2022, 1 June 2023 and 1 June 2024) – if the Client has not carried out a Competitive Tender Process since the Investment Services Contract was entered into – the Party will inform the Client that it should review the provision of services in line with clause 3.1(b)2.

  • Whilst the School prioritises value for money as a key objective of the Competitive Tender Process, the Governing Body are not obliged to accept the lowest price.

  • Go out to tender Competitive Tender Process - There are no private sector organisations within this marketplace locally, and previous experience of mortuary use outside of Kent has not delivered a suitable service.


More Definitions of Competitive Tender Process

Competitive Tender Process means an open and competitive tender process that either: (i) includes exclusively arm’s length bidders; or (ii) where one or more bidders is non-arm’s length to the Proponents, includes bids from at least two (2) arm’s length third parties; and which results in the assessment and selection of bids on the basis of achieving best value as generally accepted in the industry including factors such as price, quality, service, safety, operational performance, total cost of ownership, and availability.
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Related to Competitive Tender Process

  • Competitive Process means either an Open Competition or an Invitational Competition;

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Competitive Position means any employment with a Competitor in which Executive will use or is likely to use any Confidential Information or Trade Secrets, or in which Executive has duties for such Competitor that relate to Competitive Services and that are the same or similar to those services actually performed by Executive for the Company;

  • Competitive Business means any person or entity that engages in any business activity that competes with the Company’s business in any way, in any geographic area in which the Company engages in business, including, without limitation, any state in the United States in which the Company sells or offers to sell its products from time to time.

  • Competitive Product means a product or service, made or provided by a Competitor, which is the same as or is directly competitive with one with respect to which the Employee acquired confidential information relating to the Company, or its business, products or services by reason of the Employee's work with the Company.

  • Competitive Bid Note means a promissory note of any Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of such Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender to such Borrower.

  • Competitive service means any service offered by an electric