Table of Contents
What is bid validity in gem?
The bid submitted under e-Bidding / RA shall remain valid for 15 days (or as stipulated by the Buyer in the bid document) from the Bid Opening Date (till 24.00 Hrs IST).
What is validity period in tender?
3.6. 1 The Tender Validity Period as mentioned in the tender is the period within which the Undertaking is required to enter into contract with the successful tenderer. On expiry of such period, the rates quoted in the tender are not binding upon the tenderer.
What is a validity period?
Definition(s): The period of time during which a certificate is intended to be valid; the period of time between the start date and time and end date and time in a certificate.
What does validity of proposal mean?
Validity of Proposal means the period for which the participants proposal must remain valid after the submission date.
What is RA bid?
A reverse auction is a type of auction in which sellers bid for the prices at which they are willing to sell their goods and services. In a regular auction, a seller puts up an item and buyers place bids until the close of the auction, at which time the item goes to the highest bidder.
What is price validity?
Price validity . , means the period of validity which (Name of Company) is required to keep the price valid.
What is the validity period of Cheque?
3 months
The validity of a post-dated cheque in India is 3 months from the date specified on the cheque.
What is SAP validity period?
The validity period is defined by a beginning date and an end date. If you do not specify a validity period in a condition record, the system automatically proposes one. The proposed validity period is set in Customizing for Sales.
What are the 3 requirements of a valid offer?
Offers at common law required three elements: communication, commitment and definite terms.
- Communicated. The person making the offer (the offeror) must communicate his offer to a person who may then choose to accept or reject the offer (the offeree).
- Committed.
- Definite Terms.
- Other Issues.
What is e reverse auction?
electronic reverse auction means an online real-time procurement technique utilized by the procuring entity to select the successful bid, which involves submission by technically qualified bidders of successively lowered bids during a prescribed period of time and the automatic evaluation of bids.”]
What is OEM in GeM?
After concerns on the authenticity of products being sold via the Government e-Marketplace (GeM) rose, the new Original Equipment Manufacturers (OEMs) will ensure vendor verification.
What is the bid validity period?
Bid Validity is term binding bidder for the limited period of time, their bid can be considered valid. After this period, the bidder is at liberty to change their bid price if the contract is not signed by the awarding authority by the last date of the bid validity period.
What is a validvalidity period?
Validity Period as used in this provision, means the number of calendar days available to the University for awarding a contract. All bids shall remain valid offers open for University acceptance for a minimum of 120 days following the Request for Proposal closing date.
What is the validity period of performance security?
Validity Period means the period for which the Performance Security has to be maintained in accordance with Clause 6 of this Agreement. Validity Period as used in this provision, means the number of calendar days available to the University for awarding a contract.
Is it too late to extend a bid after it expires?
Once expired, it is too late to extend. If the bids expire, you would not be able to sole source the award. You would have to re-compete. My company submitted a proposal in response to an RFP over a year ago for the management of paratransit services at a Texas based transit system.