Acceptance of Bids Clause Samples
The Acceptance of Bids clause defines the process by which a party formally agrees to accept an offer or bid submitted by another party, typically in the context of procurement or contract awards. This clause outlines the criteria and procedures for evaluating bids, such as deadlines for submission, required documentation, and the method of notifying successful bidders. Its core function is to ensure transparency and fairness in the selection process, providing a clear framework for how and when bids are accepted and thereby reducing disputes or misunderstandings.
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Acceptance of Bids. The right is reserved to reject any or all tenders. The lowest tender will not necessarily be accepted. Any tender not supported by the information requested in the tender document will not be accepted. Along with the offer the documentary evidence to show the past experience of the supplier in the area of Control & Instrumentation has to be submitted. Without the documentary evidence offer will not be accepted. The satisfactory completion certificate or satisfactory continuation certificate from a reputed company if attached will add a feather to the offer.
Acceptance of Bids. The bidder with the highest discount, if not conflict in any other law, rules, regulations or policy of the Government of Punjab, shall be awarded the procurement award.
Acceptance of Bids. The Company shall, in turn, before 10:30 a.m., New York City time, on the Submission Deadline, either:
(i) cancel such proposed Bid Borrowing by giving the Agent notice to that effect, or
(ii) accept (such acceptance to be irrevocable) one or more of the offers made by any Bank or Banks pursuant to clause (b) above by giving notice (in writing or by telephone confirmed in writing) to the Agent of the amount of each Bid Loan (which amount shall be equal to or greater than the minimum amount, and equal to or less than the maximum amount, notified to the Company by the Agent on behalf of such Bank for such Bid Borrowing pursuant to clause (b) above) to be made by such Bank as part of such Bid Borrowing, and reject any remaining offers made by any Bank pursuant to clause (b) above by giving the Agent notice to that effect; provided, that for any maturity date acceptance of offers may only be made on the basis of ascending Absolute Rates (in the case of an Absolute Rate Loan) or floating rates (in the case of a LIBOR Rate Loan), in each case commencing with the lowest rate so offered and only as to offers made in conformity with the terms hereof; provided, further, however, if offers are made by two or more Banks at the same rate or rates and acceptance of all such equal offers would result in a greater principal amount of Bid Loans being accepted than the aggregate principal amount requested by the Company, the Company shall have the right to accept one or more of such equal offers in their entirety and reject the other equal offer or offers or to allocate acceptance among all such equal offers (but giving effect to the minimum and maximum amounts specified for each such offer pursuant to clause (b) above), as the Company may elect in its sole discretion. The Company may not accept offers whose aggregate principal amount is greater than the requested aggregate amount as specified in the related Notice of Competitive Bid Borrowing subject to the proviso in Section 2.1.
Acceptance of Bids. Each bidder should submit with its bid documentation the bidder's legal name and indicate the type of business entity bidder is operating under; i.e., if a corporation, bidder should enclose a copy of the Certificate of Incorporation issued by the State Corporation Commission; if a partnership, bidder should enclose a copy of the relevant portions of the Partnership Agreement; if a limited liability company, bidder should enclose a copy of the Certificate of Organization.
Acceptance of Bids a) The right is reserved to reject any or all tenders. The lowest tender will not necessarily be accepted. Any tender not supported by the information requested in the tender document will not be accepted.
Acceptance of Bids. Pursuant to Article 5.2.5., GCPC, all Bid information is subject to analysis, legal review, and other required approvals prior to the award of any contract. Therefore, all timely received Bids shall be unconditionally accepted without alteration or correction, except as may otherwise be authorized by applicable provisions of the GCPC. A bidder may not alter or change any price or other information in a Bid after it has been opened if the Chief Procurement Officer deems that alteration or change prejudicial to Garfield County or fair competition.
Acceptance of Bids. Not later than 11:00 a.m. (Charlotte time) on the proposed date of such Competitive Bid Loans, the Borrower shall notify the Agent via facsimile of the bid(s), if any, with respect to such Competitive Bid Loans that the Borrower is accepting, and the Agent shall simultaneously notify the Lender(s) whose bid(s) is or are being accepted via facsimile. Each bid not accepted by the Borrower through notification of the Agent by the time set forth above shall be deemed to have been rejected. The Borrower is under no obligation to accept any bids. However, if the Borrower does elect to accept bids, it shall accept the lowest bid for such Competitive Bid Loans. If more than one Lender makes the same lowest bid, then the Competitive Bid Loans will be allocated among such lowest bidding Lenders in accordance with the following:
(i) If only one Lender makes such bid for all of the Competitive Bid Loans being requested, that Lender will be allocated all of the Competitive Bid Loans.
(ii) If more than one Lender makes such bid for all of the Competitive Bid Loans being requested, then each such Lender will be allocated Competitive Bid Loans on a per capita basis (e.g., if 3 Lenders qualify, each will be allocated 1/3 of the Competitive Bid Loans regardless of their respective Commitment Percentages).
(iii) If no Lender makes such bid for all of the Competitive Bid Loans being requested, then each Lender making the lowest bid will be allocated the amount it bid; provided, that if such allocation would result in Competitive Bid Loans exceeding the amount requested, then the amounts allocated to each Lender will be reduced to the extent necessary so that the Competitive Bid Loans allocated to each Lender will be in the same ratio as the Competitive Bid Loans bid by all such lowest bidding Lenders (e.g., if $1,000,000 in Competitive Bid Loans were requested and Lenders A and B were lowest bidding Lenders with Lender A bidding $700,000 and Lender B bidding $500,000, Lender A would be allocated 7/12 of the Competitive Bid Loans and Lender B would be allocated 5/12 of the Competitive Bid Loans).
Acceptance of Bids. The Iowa Department of Natural Resources reserves the right to reject any or all bids, to waive any informality in any bids or to accept any bid which will best serve the interests of the state of Iowa.
Acceptance of Bids. The bidder with the lowest rate, if not conflict in any other law, rules, regulations or policy of the Government of Punjab, shall be awarded the contract.
Acceptance of Bids. Indirect Bidder is responsible for ensuring that any Bids it submits to the Agent shall be eligible under the PRA Program and acceptable to BOC, including, but not limited to, compliance with the minimum bid rate, minimum increments, applicable bidding limits, eligible collateral and form of the Bid. The Agent will have no responsibility with respect to accuracy, authorization, or validity of any Bid, notice or other communication submitted or received by the Agent generally as part of the New Term PRA Facility for Private Sector Investments. The following process will apply: