Price Reasonableness definition

Price Reasonableness means a price, in its nature and amount, which does not exceed that which would be incurred by a prudent person in the conduct of competitive business. What is reasonable depends upon a variety of considerations and circumstances, including the following:
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Price Reasonableness means the determination that the price of the work for any project or series of projects is not excessive and is a fair and reasonable price for the services to be performed.
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Examples of Price Reasonableness in a sentence

  • Price Reasonableness: Any offer may be rejected if the Procurement Officer determines in writing that it is unreasonable as to price.

  • Price Reasonableness: Any Offer may be rejected if the Procurement Officer determines in writing that it is unreasonable as to price.

  • Pre-Award Price Reasonableness Determination: Each item before award.

  • Post-Award Price Reasonableness Determination: Each item added or incidental service or price change.

  • Procurement requirements must not be artificially divided by governmental bodies so as to constitute a small purchase pursuant to this section.(2) Competition and Price Reasonableness.

  • Post-Award Price Reasonableness Determination: Each item added or incidental service.

  • Price Reasonableness: Any offer may be rejected if the Procurement Manager determines in writing that it is unreasonable as to price.

  • Post-Award Price Reasonableness Determination: Each item added, incidental service or price change.

  • Post-Award Price Reasonableness Determination: Each item before adding to the catalog.

  • The Procurement/Supply Chain Directors must use the Source Selection & Price Reasonableness Form for documenting exceptions to competitively bidding goods and services.

Related to Price Reasonableness

  • Biodiesel blend means a fuel comprised of a blend of biodiesel fuel with petroleum-based diesel fuel, suitable for use as a fuel in a compression-ignition internal combustion diesel engine.

  • Estimates means annual estimates or supplementary estimates;

  • Firm price means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition, or abolition of customs or excise duty and any other duty, levy, or tax, which, in terms of the law or regulation, is binding on the contractor and demonstrably has an influence on the price of any supplies, or the rendering costs of any service, for the execution of the contract;

  • Price Gap means the following:

  • formal written price quotation means quotations referred to in paragraph 12 (1) (c) of this Policy;

  • Price means an amount of money tendered for goods or services, and includes all applicable taxes less all unconditional discounts;

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.

  • Quality means the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs;

  • Biodiesel fuel means a fuel that is comprised of mono- alkyl esters of long chain fatty acids derived from vegetable oils or animal fats.

  • Deafness means a hearing impairment that is so severe that the student is impaired in processing linguistic information through hearing, with or without amplification that adversely affects a student’s educational performance.

  • Biodiesel means a fuel composed of mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats, and, in accordance with standards specified by the American society for testing and materials, designated B100, and meeting the requirements of D-6751, as approved by the department of agriculture.

  • Affordability average means the average percentage of median income at which restricted units in an affordable housing development are affordable to low- and moderate-income households.

  • Range means all the areas of land or water that a migratory species inhabits, stays in temporarily, crosses or overflies at any time on its normal migration route;