Most Economically Advantageous definition

Most Economically Advantageous means the criteria used to determine whether an offer is the most economically advantageous to the Authority and shall be determined in each case by the Authority in accordance with any policy of the Authority and these Rules. The criteria will always include price and may include any one or more of the following and such other criteria as the Authority or Relevant Appointed Officer may consider fit:
Sample 1Sample 2
Most Economically Advantageous normally means the lowest if payment is to be made by the Authority and the highest if payment is to be made to the Authority, but should also take into account quality and other measures, which will be set out in the evaluation criteria and which should be specified in advance of the contract evaluation. In such cases the method of scoring such measures and the weighting of evaluation will be clearly set out in the contract specification.
Sample 1Sample 2Sample 3
Most Economically Advantageous means using a cost- effectiveness approach or price/quality ratio which offers the best price (this will not necessarily be the lowest price)
Sample 1Sample 2Sample 3

Examples of Most Economically Advantageous in a sentence

  • At least two bona fide tenders must be received and the Most Economically Advantageous Tender accepted.

  • At least two compliant tenders must be received and the Most Economically Advantageous Tender must be accepted.

  • Under normal circumstances the School will award to the supplier quoting the lowest price or the Most Economically Advantageous Tender (MEAT).

  • Where no Framework Arrangements are available competitive quotations in writing on the basis of Most Economically Advantageous Tender should be sought, or a commercial negotiation with one preferred Contractor may take place.

  • Where it is possible to apply a scoring matrix to the proposed evaluation criteria, the Contract must be awarded to the tenderer obtaining the highest overall score (i.e., the Most Economically Advantageous Offer) from the evaluation process.

  • Price / Quality – where a price quality split is stipulated, the supplier who ranks highest over-all shall be awarded the Contract, this is otherwise known as the Most Economically Advantageous Tender (M.E.A.T).

  • Under normal circumstances the School will award to the supplier quoting the lowest price or the Most Economically Advantageous Quotation.

  • The award criteria may be based on price alone or on that which represents the Most Economically Advantageous Offer received.

  • Most Economically Advantageous Tender Evaluation criteria MUST be based on the “Most Economically Advantageous Tender”.

  • The Treasurer shall issue guidance to Lead Officers recommending the preferred method of procurement required in order to demonstrate the Most Economically Advantageous Offer for the Authority.


More Definitions of Most Economically Advantageous

Most Economically Advantageous means that bid or offer which when taking into account a number of criteria including but not limited to price, quality, delivery, technical merit, compatibility, functionality and overall cost effectiveness affords the Authority the most economically advantageous solution.”
Sample 1Sample 2
Most Economically Advantageous means that criteria including the period from completion or delivery, quality, aesthetic and functional characteristics, technical merit, after sales service, technical assistance, ease of maintenance and price may be used as part of the evaluation of a Tender;
Sample 1
Most Economically Advantageous means optimum combination of price and quality to meet the Council priorities.
Sample 1
Most Economically Advantageous means that tender or offer which, when taking into account the criteria specified by the Authority, which may include but are not limited to price, quality, delivery, technical merit, compatibility, functionality, social value, environmental characteristics and overall cost effectiveness, will bring the greatest benefit to the Authority;
Sample 1

Related to Most Economically Advantageous

  • Socially and economically disadvantaged individual means any individual who is a citizen (or lawfully admitted permanent resident) of the United States and who is —

  • Disadvantaged Business means a small business concern: (a) which is at least 51 percent owned by one or more socially and economically disadvantaged individual(s) or in the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more socially and economically disadvantaged individual(s); and (b) whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individual(s) who own it. It is important to note that the business owners themselves must control the operations of the business. Absentee ownership or title ownership by an individual who does not take an active role in controlling the business is not consistent with eligibility as a DBE under CFR 49 Part 26.71.

  • Permitted Business means any business in which the Company or its Restricted Subsidiaries are engaged on the date of this Indenture and any other business related, incidental, complementary or ancillary thereto, and any unrelated business to the extent that it is not material in size as compared with the Company and its Restricted Subsidiaries’ business as a whole.

  • Emerging best practice or "promising practice" means a

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the exercise of the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged within the relevant industry or business sector;

  • Best Practice means solutions, techniques, methods and approaches which are appropriate, cost-effective and state of the art (at Member State and sector level), and which are implemented at an operational scale and under conditions that allow the achievement of the impacts set out in the award criterion ’Impact’ first paragraph (see below).

  • Medically Necessary means a service which is appropriate and consistent with the treatment of the condition in accordance with accepted standards of community practice.