Two-Stage Bidding Definition | Law Insider (2024)

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisem*nt covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Successful Bidder(s) means the bidder(s) to whom work in this tender is awarded.

  • Bid Procedures Order means an Order of the Bankruptcy Court that (a) is in substantially the form set forth as Exhibit A to this Agreement or otherwise in a form reasonably satisfactory to the Sellers and acceptable to the Buyer in its sole discretion, and (b) approves procedures for the solicitation and consideration of competitive bids for the Assets under the terms and conditions of this Agreement and authorizing the protections set forth in Article 11 for the Buyer.

  • Lead Member of the Bidding Consortium or “Lead Member” shall mean a company who commits at least 26% equity stake in the Project, meets the technical requirement as per Clause 2.1.2and so designated by other Member(s) in Bidding Consortium;

  • Bidding Procedures Order means that certain order of the Bankruptcy Court, entitled “Order (A) Approving Sale Procedures and Bid Protections, Including Break-Up Fee(s), In Connection With Sale Of Substantially All Assets; (B) Scheduling An Auction For And Hearing To Approve One Or More Sales; (C) Approving Notice Of Respective Date, Time And Place For Auction And For Hearing On Approval Of Sale(s),” entered on January 16, 2009.

  • Bidder/Bidding Company means Bidding Company submitting the Bid. Any reference to the Bidder includes Bidding Company / including its successors, executors and permitted assigns as the context may require;

  • Final Approval Hearing means the hearing to be conducted by the Court to determine the fairness, adequacy, and reasonableness of the Settlement pursuant to Federal Rule of Civil Procedure 23 and whether to issue the Final Approval Order and Judgment.

  • Successful Bidder As defined in Section 7.01(c).

  • Open Competitive Bidding means a fair and transparent specified procedure defined under these Rules, advertised in the prescribed manner, leading to the award of a contract whereby all interested persons, firms, companies or organizations may bid for the contract and includes both National and International Competitive Biddings;

  • Solicitation Procedures Order means the order of the Bankruptcy Court or other court of competent jurisdiction approving the Debtors' proposed procedures to govern their solicitation of votes on this Plan.

  • MAA Approval means approval of an MAA by the applicable Regulatory Authority for marketing and sale of a Product in the Collaborator Territory, but excluding any Pricing and Reimbursem*nt Approval.

  • Responsive Bidder or Offeror means a person who submits a bid or proposal which conforms in all material respects to the invitation for bids or request for proposals.

  • Approval Order means (i) an order in the form attached hereto as Exhibit 2; or (ii) in the event of a timely objection to the motion to approve the Agreement that if sustained would reduce the full Settlement Amount available to pay Asbestos-Released Claims, an order in such form agreed to in writing by the Parties, entered by the Bankruptcy Court that (a) approves this Agreement, (b) authorizes the Parties to undertake the settlement and the sale of the Subject Policies as set forth in this Agreement, and (c) provides for the Injunction.

  • Sale Hearing means the hearing conducted by the Bankruptcy Court to approve the transactions contemplated by this Agreement.

  • Final Approval Order means the entry of the order and final judgment approving the Settlement Agreement, implementing the terms of this Settlement Agreement, and dismissing the Class Action with prejudice, to be proposed by the Settling Parties for approval by the Court, in substantially the form attached as Exhibit D hereto.

  • Responsive bidder means a person who has submitted a bid that conforms in all material respects

  • Phase III means human clinical trials, the principal purpose of which is to establish substantial evidence of both safety and efficacy in patients with the disease or condition being studied, as more fully defined in 21 C.F.R. §312.21(c) or similar clinical study in a country other than the United States. Phase III shall also include any other human clinical trial intended to serve as a pivotal trial to support the submission of an application for regulatory approval.

  • Application Review Start Date means the later date of either the date on which the District issues its written notice that the Applicant has submitted a completed Application or the date on which the Comptroller issues its written notice that the Applicant has submitted a completed Application and as further identified in Section 2.3.A of this Agreement.

  • Project Completion means completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Morley Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • Sale Order means an Order of the Bankruptcy Court approving the Transactions, in form and substance (with respect to the provisions of such Sale Order applicable to the Acquired Assets only) reasonably acceptable to each of the Parties.

  • Bidding Process means the procurement procedure under which sealed bids are invited, received, opened, examined and evaluated for the purpose of awarding a contract;

  • Qualified Bidder(s means a Bidder who fulfills the eligibility criteria listed out in the E-Auction Process Information Document.

  • Selected Bidder or Successful Bidder means the Bidder selected pursuant to this RfS to set up the Project and supply electrical output as per the terms of standard PPA.

  • Completion Deadline means August 15, 2018, or such later date as may be agreed to in writing by the Parties;

  • Phase 3 means the period commencing on the day after the Phase 2 implementation date and ending on the Phase 3 implementation date (as defined below).

  • Two-Stage Bidding Definition | Law Insider (2024)

    FAQs

    Two-Stage Bidding Definition | Law Insider? ›

    Two Stage bidding means a procurement method where the procuring entity calls upon bidders to submit in the first stage of bidding, their proposals only without a price, such proposals in addition to any other requirements that the rules may impose, will relate to design, technical quality or other characteristics of ...

    What is two-stage bidding? ›

    Two-Stage Bidding Procedure

    Bidders first submit their technical proposals, in accordance with the specifications, but without prices. The technical proposals are opened at the date and time advised in the bidding document. The technical proposals are evaluated and discussed with the bidders.

    What is two step bidding? ›

    Two-step sealed bidding is a combination of competitive procedures designed to obtain the benefits of sealed bidding when adequate specifications are not available.

    What are the two stages of procurement? ›

    Two-stage procurement (sometimes referred to as two-stage contracting or two-stage tendering) is when a main contractor is instructed on a construction project in two stages: firstly, for the pre-construction phase to carry out pre-construction services (often competitively tendered on a limited design basis) and, then ...

    What is the two bid system? ›

    Two Bid system means Technical bid & Financial bid are put in separate covers and their evaluation is done in sequential manner.

    What is the difference between single stage and two stage tendering? ›

    Traditionally, tendering involves just one stage, in which a tenderer is selected and appointed to carry out all of the works required. In Two-stage tendering, the tenderer is initially appointed only to carry out some of the works required.

    Why do we use two stage tendering? ›

    Two-stage tendering enables the client to transfer design risk to the contractor, however the client inevitably loses leverage as the contractor becomes embedded in the team and competition is less of a threat.

    What are the two types of bidding are used in the United States? ›

    There are two types of bidding in procurement: open or competitive bidding, and closed (“sealed”) or noncompetitive bidding. Competitive bidding takes place usually through the RFx process, which is detailed below. In contrast, some companies will also use noncompetitive bidding.

    What is the first step when using two-step sealed bidding? ›

    It is conducted in two steps: (a) Step one consists of the request for, submission, evaluation, and (if nec- essary) discussion of a technical pro- posal. No pricing is involved. The ob- jective is to determine the accept- ability of the supplies or services of- fered.

    What are the stages of bidding? ›

    The contract bidding process is typically a two-stage process: A contractor will release a selection questionnaire (SQ) or pre-qualification questionnaire (PQQ). Once completed, successful suppliers will be sent an invitation to tender (ITT).

    What is 2 stage RFQ? ›

    The buying organization initially assesses the suppliers to be technically qualified before their price quotes are unsealed and evaluated. This ensures no bias in awarding the contract. The two-stage RFQ process involves the submission by the suppliers of a technical quote and a commercial quote.

    What are the disadvantages of two-stage tendering? ›

    The two-stage tendering process may be more time-consuming and this may not be appealing to employers with a tight development programme. Increased contractor involvement in the initial project planning stage can play a negative role in the design plan if the contractor has hidden agendas.

    What is rule of 2 procurement? ›

    One of them is the “rule of two.” It requires agencies to reserve a contract for small businesses whenever the reasonable expectation exists that at least two responsible SBs can submit proposals worth evaluating, plus that the award can be made at fair and reasonable market prices.

    What are the two components of a bid? ›

    - A bid shall have two (2) components, namely the technical and financial components which should be in separate sealed envelopes, and which shall be submitted simultaneously.

    What is a 2 1 bidding system? ›

    Basic 2-over-1 principles and definitions. 2-over-1 forcing-to-game is "on" only when your side opens 1D, 1H or 1S in 1st or 2nd seat and the next player passes and responder makes a non-jump bid of 2 of a new suit. The only relevant auctions are: 1♥ - 2♣ 1 - 2♦ 1♠ - 2♣ 1♠ - 2♦ 1♠ - 2♥ 1♦ - 2♣

    What are the three types of bidding? ›

    Types of bids include auction bids, online bids, and sealed bids.

    What are the two methods of bidding? ›

    There are two types of bidding in procurement: open or competitive bidding, and closed (“sealed”) or noncompetitive bidding.

    What are the two 2 types of competitive public bidding? ›

    (IRR-A Section 5 [h])A Procuring Entity should, therefore, see to it that its procurement program allows enough time to conduct such Public Bidding. There are two (2) types of Competitive Bidding procedures: the Single-Stage and Two-Stage.

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