For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
“BEST VALUE.” A function/service comparison performed with cost, quality and availability variables among others; obtaining the best possible products/services at the lowest possible cost.
“BEST VALUE PROPOSITION.” A function/service comparison performed with cost, quality and availability variables among other criteria; obtaining the best possible products/services considering any intangible or other benefits that may not necessarily represent the lowest possible cost, but overall better value perceived.
“FORMAL BID PROCEDURE.”
(1) “INTENT TO BID.” The offer of a supplier (bidder) to provide specific goods and/or services in accordance with all specifications and conditions indicated in a solicitation. The purchasing agent shall award the contract or make the purchase from the lowest qualified bidder.
(2) “REQUEST FOR PROPOSAL (RFP).” A document used to solicit proposal to accomplish a specified scope of work. Negotiations may be conducted after evaluation of all offers. The purchasing agent shall award the contract or make the purchase deemed to be in the best interest of the town.
“GSA.” General Services Administration, which is the acquisition and procurement agency for the government of the United States; it contracts for all goods, services and real property required by the operation of the civilian federal government.
“LOWEST QUALIFIED BIDDER.” A supplier who has the capacity and capability to provide goods/services in conformance with the specifications at the lowest cost.
"MRO." Maintenance, repair and operation.
“SOLE SOURCE.” One, and only one, source of supply deemed acceptable or capable of meeting the specification for a product/service qualified with a sole source justification document to the purchasing agent.
(Ord. 645, passed 1-6-14)