Informal bidding definition

Informal bidding means any nonformal contractor selection procedure authorized by this chapter.

Informal bidding means the solicitation of at least three quotations after approval of specifications by the General Manager pursuant to a notice to potential bidders as determined by the General Manager.

Informal bidding means requesting written quotes from vendors. Informal bids are required when the cost is more than $1,500.00 but less than

Examples of Informal bidding in a sentence

• The indicative model of winding up declaration envisages a qualified opinion where there are certain obstacles in the examination or where there are some problems which have not been satisfactorily treated, and no opinion if major obstacles are encountered in the examination or the frequency of error found is high.

• Informal bidding procedures shall be used for public works projects over $60,000 and up to $200,000 in value.

• Informal bidding may be used on work, projects, services, or purchases that cost up to the limits set forth in this article.

• If all bids received are in excess of$200,000, the Board of Directors may, by adoption of a resolution by four-fifths vote, award the contract, at two hundred twelve thousand five hundred dollars ($212,500) or less, to the lowest responsible bidder, if it determines the cost estimate of the District was reasonable.B. Informal bidding procedures.

• Informal bidding promotes free and open competition among sellers for public dollars and can substantially reduce acquisition costs.

• Contracts are subject to review to ensure legal and regulatory compliance (see Section 9: Contract Services).• Informal bidding requires obtaining at least two quotes from two different vendors.• Formal bidding processes are facilitated by the Purchasing Department (see Section 8: Competitive Bidding and Bid Exceptions).

• Informal bidding may be used for purchases estimated to cost 1)$100,000 or less for materials, supplies, equipment and services; 2) $50,000 or less for construction; 3) $250,000 or less for federally-assisted ferry vessel repair, maintenance and alteration work; and 4) $1,000,000 or less for non-federally-assisted ferry vessel repair, maintenance and alteration work.

• Informal bidding may be used for purchases estimated to cost 1)$100,000 or less for materials, supplies, equipment and services; 2) $50,000 or less for construction; 3) $150,000 or less for federally-assisted ferry vessel repair, maintenance and alteration work; and 4) $1,000,000 or less for non-federally-assisted ferry vessel repair, maintenance and alteration work.

• Informal bidding should be used to assure the most competitive price is received for an item, while avoiding the additional time and expense involved in formal bidding.2.1 Informal Quotes:The Department/Division shall strive to receive three bids in writing or over the phone, whenever possible.

• Informal bidding is required when the estimated cost is $30,000 or more, but less than $90,000 for materials, supplies and equipment; and $30,000 or more, but less than $500,000 for construction, renovation and repair contracts (N.C.G.S.§143-131) unless an exception applies.

More Definitions of Informal bidding

Informal bidding means the solicitation of at least three quotations after approval of specifications by the General Manager[DO WE WANT TO USE GM AT THIS POINT OF JUST USE “THE BOARD”?] pursuant to a notice to potential bidders as determined by the General Manager.

Informal bidding means requesting written quotes from vendors.