Price Score definition
Examples of Price Score in a sentence
As an example, in order to identify the Successful Supplier for Direct Award, the below methodology will be used for evaluation: Price Score – Min 20% - Max 100% A Basket of Goods containing all the products required for the Participating Authority(s) will be evaluated as follows: A basket of goods total cost will be determined by applying the banded price the Participating Authority/ies are eligible for, less any other discounts offered by the Supplier.
Formula: Lowest Average Bid Price / Bidder’s Average Proposed Price X Weight = Price Score.
The Authority shall then add each Tenderer’s Weighted Quality Score to their Weighted Price Score which shall be the total bid score (the “Total Bid Score”).
All costs and discounts detailed in Section 2 and 3 of this Pricing Schedule will determine your Price Score.
Total Price (Commercial) Evaluation Score = [[Lowest Tendered Price / Tendered Price] x 100] x 30% The score calculation to establish the Total Price Score are shown in the next 2 tables.
Example: Lowest Bid Price / Bidder’s Proposed Price X Weight = Price Score.
The Quality Score awarded for a Lot will be added to the Price Score for the same Lot to determine the final score for each Potential Provider in the applicable Lot (“Final Score”).
The FPAG and FERC will conduct “blind” 34 reviews and evaluations of the Price Proposals to determine the Price Score of the 35 Proposal in accordance with Section 5.2.1.