Best Value Selection Clause Samples

The Best Value Selection clause establishes that contracts or awards will be granted based on an overall assessment of value rather than solely on the lowest price. In practice, this means that factors such as quality, technical capability, past performance, and other relevant criteria are considered alongside cost when evaluating proposals or bids. This approach ensures that the chosen vendor or solution offers the most advantageous combination of price and performance, ultimately aiming to achieve the best outcome for the contracting party rather than simply minimizing expenses.
Best Value Selection. This is a best value source selection acquisition (“Procurement”). There are three (3) evaluation factors: Capabilities and Approaches, Performance Confidence, and Cost/Price.
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Best Value Selection. The City shall make best value selection and award decisions based strictly on the technical acceptability of each Proposal, the price of each Proposal and the City’s confidence in each Offeror’s ability to perform the requirements of the solicitation as the Offeror has proposed.
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Best Value Selection. All contracts and purchases shall be handled in a manner to obtain the best value for PSA and its members. In determining the best value, the following may be considered: • purchase price, including payment discount terms • reputation of the Offeror and of the Offeror's goods or services • quality of the Offeror's goods or services • extent to which the goods or services meet the needs of PSA and its members • Offeror's past relationship with PSA • impact on the ability of PSA and its members to comply with laws and rules relating to contracting with historically underutilized businesses and nonprofit organizations employing persons with disabilities • the total long-term cost to PSA or its members to acquire the Offeror's goods or services • availability of repair and maintenance parts • conformity to specifications • financial condition • delivery terms • any relevant criteria specifically listed in the Request for Proposals
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Best Value Selection. This procurement shall be conducted utilizing Best Value Selection (BVS), which seeks to select an offer based on the best combination of technical merit and price reasonableness -- i.e., "best value." "Best Value" is defined as the procurement process that results in the most advantageous acquisition decision for the Government and is performed through an integrated assessment and trade-off analysis between the non-cost/price factors and the cost/price factor. While the Government evaluation team and the Selection Official will strive for maximum objectivity, the selection process, by its nature, is subjective and, therefore professional judgment is implicit throughout the entire process. The Government reserves the right to award a contract on the basis of the initial offers received without discussion. Proposals should be submitted initially on the most favorable terms from a price and technical standpoint that the Offeror can submit to the Government. Advisors who are not Federal Government employees may assist in the evaluation and provide input regarding the offers.
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Related to Best Value Selection

  • Panel Selection 1. The Parties shall apply the following procedures in selecting a Panel: (a) the Panel shall comprise 3 members; (b) within 15 days following the date of the establishment of the Panel, each Party shall nominate a Panelist; (c) the Parties shall endeavor 2. If a Panelist appointed under this Article resigns or becomes unable to act, a successor Panelist shall be appointed within 30 days in accordance with the selection procedure as prescribed for the appointment of the original Panelist and the successor shall have all the powers and duties of the original Panelist. The work of the Panel shall be suspended during the appointment of the successor Panelist.

  • Market Value Market value shall be determined by the Lending Agent, where applicable, based upon the valuation policies adopted by the Client’s Board of Directors/Trustees.

  • Determination of Fair Market Value For purposes of this Section 10.2, “fair market value” of a Share (or Common Stock if the Shares have been converted into Common Stock) as of a particular date (the “Determination Date”) shall mean: (i) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s Registration Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering. (ii) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering, then as follows: (A) If traded on a securities exchange, the fair market value of the Common Stock shall be deemed to be the average of the closing prices of the Common Stock on such exchange over the five trading days immediately prior to the Determination Date, and the fair market value of the Shares shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; (B) If traded on the Nasdaq Stock Market or other over-the-counter system, the fair market value of the Common Stock shall be deemed to be the average of the closing prices of the Common Stock over the five trading days immediately prior to the Determination Date, and the fair market value of the Shares shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each Share is then convertible; and (C) If there is no public market for the Common Stock, then fair market value shall be determined by the Board of Directors of the Company in good faith. In making a determination under clauses (A) or (B) above, if on the Determination Date, five trading days had not passed since the closing of the Company’s initial public offering of its Common Stock (“IPO”), then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the shorter period beginning on and including the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day, the closing price or closing bid price, as applicable, for such trading day). If closing prices or closing bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on the applicable trading day.

  • Adverse Selection No selection procedures adverse to the Noteholders were utilized in selecting the Receivables from those receivables owned by the Seller which met the selection criteria set forth in this Agreement.

  • Shift Selection Employee assignments within the Patrol Bureau will occur between approximately April 1-15 and shall be awarded based upon seniority. Approximately three (3) months before then the Department will publish a call for written requests on shift assignment. Employees will make their first three (3) choices known. Employees will learn of the assignment, including days off associated with their assignment, immediately after the bidding process is completed. Assignments will take effect on the schedule immediately following July 1st. Residence Hall assignments will be made prior to all others. No officer will be required to work a Residence Hall assignment in consecutive years. Assignment of the remaining officers will begin with selection(s) for day and night shifts. The bid for assignments will continue until all positions are filled. The following general rules apply to assignments: 1. During the term of this Agreement, no employee will be reassigned to a different shift other than the shift awarded by seniority except in situations where the University cannot continue to provide police services. In the event a shift reassignment must occur, it will be offered to volunteers based on seniority. If there are no volunteers it will be assigned to the least senior officer in the department. 2. Shift selection shall be an appropriate subject for the Joint Labor/Management Committee. 3. If a shift becomes available as a result of trainees being released for duty, and if there is at least four (4) months until the next shift change, the shift will be posted and awarded by seniority. The new trainee released for duty will take the senior officers shift. If no employee desires the shift, the trainee scheduled for assignment will be assigned that shift. The parties recognize that for the betterment of the Department it may be necessary to assign a trainee to a specific shift. 4. Voluntary shift trades will be allowed as long as overtime costs are not incurred. 5. Except in a bona fide emergency, no employee shall be assigned to work more than sixteen (16) hours in a twenty-four (24) hour period, provided however employees may volunteer to work up to eighteen (18) hours in a twenty-four (24) hour period.