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

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

  • Rushmoor has 13 wards and the Council consists of 39 elected Members.

  • Simplified Acquisition Award Documentation (SAAD) The SAAD documents Best Value, Price Reasonableness, and Responsibility determinations for this procurement.

  • Factor 5: Price Reasonableness The offeror’s cost proposal will be evaluated for price reasonableness based on the information provided in Form C.

  • The Procurement/Supply Chain DirectorsP/SCDs must use the Source Selection & Price Reasonableness FormSource Selection & Price Reasonableness (SSPR) Form for documenting exceptions to competitively bidding goods and services.

  • The available forms are Determination of Cost or Price Reasonableness (CPR), Sole Source Justification, Authorization to Purchase Equipment with Federal Contract or Grant Funds, Equipment Inventory Form, Subcontract Agreement, Agreement for Services (UH Projects), Agreement for Services (Direct Projects), and FFATA Data Collection for Subcontractor/Vendor.

  • Price Reasonableness will be utilized in the evaluation of the Firm-Fixed price effort.

  • Narrative: Price Reasonableness Determination Limitation on Price Increases (DFARS 217.7505/DLAD 17.7505 ): For Micro-Purchases: ☐ Unit Price has not increased 51% or more within the past 12 months.

  • This document reports the findings and implementation recommendations of the Price Reasonableness Working Group to the Federal ESPC Steering Committee.

  • CUI Simplified Acquisition Award Documentation (SAAD) The SAAD documents Best Value, Price Reasonableness, and Responsibility determinations for this procurement.

Related to Price Reasonableness

  • 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;

  • Selling Price means the same meaning as in RCW 82.08.010, except that when the product is sold under circumstances where the to- tal amount of consideration paid for the product is not indicative of its true value. Selling price means the true value of the product sold as determined or agreed to by the WSLCB. For purposes of this subsec- tion:

  • 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 Price in respect of such day.

  • 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.