Invalid Bid Definition | Law Insider (2024)

  • Competing Permitted Bid means a Take-over Bid that:

  • Permitted Bid means a Take-over Bid made by an Offeror by way of take-over bid circular which also complies with the following additional provisions:

  • Submitted Bid has the meaning specified in Section 11.10(d)(i) below.

  • Interested Bidder means any person or persons who have submitted the Request Letter for Participation along with signed Bid Form, notarized affidavit, signed Declaration, requisite Earnest Money and other necessary documents to complete the eligibility check formalities to the satisfaction of the Liquidator.

  • Bid Rate Quote means an offer in accordance with Section 2.2.(c) by a Lender to make a Bid Rate Loan with one single specified interest rate.

  • 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.

  • Competing Offer means a Tender Offer for Units which (i) is Commenced prior to the expiration of the Offer by a Person that is not an Affiliate (or in the case of Waltxx Xxxeet, as to its Associates only) of any Partner and (ii) has a cash purchase price per Unit that is at least 2% (10% with respect to the first Competing Offer made following the Offer by the Partnership)

  • Takeover Bid or ‘Bid’ means a public offer, other than by the Offeree Company itself, made to the holders of the Securities of a Company to acquire all or some of those Securities, whether mandatory or voluntary, which follows or has, as its objective, the acquisition or Control of the Offeree Company.

  • Government Bid means a bid, tender or proposal which, if accepted, would result in a Government Contract.

  • Valid Third Party Entity In respect of any transaction, any third party that the Calculation Agent determines has a bona fide intent to enter into or consummate such transaction (it being understood and agreed that in determining whether such third party has such a bona fide intent, the Calculation Agent shall take into consideration the effect of the relevant announcement by such third party on the Shares and/or options relating to the Shares and, if such effect is material, may deem such third party to have a bona fide intent). Nationalization, Insolvency or Delisting: Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the Exchange. Additional Disruption Events: Change in Law: Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public announcement of, the formal or informal interpretation,” (ii) replacing the word “Shares” with the phrase “Hedge Positions” in clause (X) thereof and (iii) inserting the parenthetical “(including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption, effectiveness or promulgation of new regulations authorized or mandated by existing statute)” at the end of clause (A) thereof. Failure to Deliver: Applicable Hedging Disruption: Applicable; provided that:

  • Unsolicited proposal means a written proposal for a public-private initiative that is submitted by a private entity for the purpose of entering into an agreement with the department but that is not in response to a formal solicitation or request issued by the department.

  • algorithmic trading means trading in financial instruments where a computer algorithm automatically determines individual parameters of orders such as whether to initiate the order, the timing, price or quantity of the order or how to manage the order after its submission, with limited or no human intervention. This definition does not include any system that is only used for the purpose of routing orders to one or more trading venues or for the confirmation of orders;

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent with respect to a Competitive Bid Quote Request in the form attached as Exhibit C-3.

  • Proposal / Bid means the technical proposal and the commercial/financial proposal.

  • Resting Quote means any firm or indicative bid or offer displayed on an Order Book.

  • Competing Proposal shall have the meaning set forth in Section 6.5(f)(i).

  • Selected Bidder means the bidder who has been selected by DMRC, pursuant to the bidding process for award of license.

  • Void Transaction means any transaction wherein the transaction has taken place but has been cancelled /rejected /unsuccessful by the Alliance Partner.

  • infringement notice has the meaning set forth in Section 7.4.1;

  • Competitive Bid Quote Request means the notice, in substantially the form of Exhibit B hereto, to be delivered by the Borrower in accordance with Section 2.03 in requesting Competitive Bid Quotes.

  • Invitation for Bid (IFB means the solicitation document issued to potential vendors for the purchase of equipment, supplies, and/or services as described in the document. The definition includes these Terms and Conditions as well as all Pricing Pages, Exhibits, Attachments, and Addendums thereto.

  • Mid-Market Swap Rate Quotation means a quotation (expressed as a percentage rate per annum) for the relevant Mid-Market Swap Rate;

  • Third Party Offer has the meaning set out in Section 6.4;

  • Competitive Sealed Bidding means the competitive process described within an Invitation for Bids, wherein the City invites Offerors to submit bids to supply the City with the Goods and/or Service describes in the Solicitation document, where the City will award the resulting contract to the responsible Offeror submitting the low responsive bid.

  • Business Combination Proposal has the meaning set forth in Section 5.8.

  • Supplier/ Successful or Selected bidder means the person, private or government entity, or a combination of the above, whose Bid to perform the Contract has been accepted by the Purchaser and is named as such in the Agreement, and includes the legal successors or permitted assigns of the successful/ selected bidder.

  • Invalid Bid Definition | Law Insider (2024)

    FAQs

    Invalid Bid Definition | Law Insider? ›

    Invalid Bid: A bid that does not meet the requirements of the solicitation or cannot be evaluated against the other bids including a faxed or emailed bid for a term contract.

    What is a false bid? ›

    false bid made up by the auctioneer. bid accepted by the auctioneer from a non-genuine bidder from the crowd.

    What makes a bid unresponsive? ›

    Responsive bid: A bid response that is consistent with the specifications and fully conforms to the mandatory submittal requirements. Non-responsive bid: A bid response that is not consistent with the specifications and does not fully conform to the mandatory submittal requirements.

    What does failed bid mean? ›

    Failed - means that there is a failure of bidding or no award notice has been issued. This may be due to bidders submitting non-responsive bids, or no bids were received at all. Closed - means that the bid has reached its closing date and the submission of bid proposal are no longer being accepted.

    What is the validity period of a bid in GPPB? ›

    9184 and its revised Implementing Rules and Regulations (IRR), bids and bid securities shall be valid for such reasonable period of time indicated in the Bidding Documents, but in no case shall the period exceed one hundred twenty (120) calendar days from the date of the opening of bids.

    What is an invalid bid? ›

    Invalid Bid: A bid that does not meet the requirements of the solicitation or cannot be evaluated against the other bids including a faxed or emailed bid for a term contract.

    What is a dummy bid? ›

    A dummy bid is either a false bid made up by the auctioneer or a bid accepted by the auctioneer from a non-genuine bidder in the crowd, usually to influence the sale price.

    Can a bidder be responsive but not responsible? ›

    No Responsive Bids Received from Responsible Bidders

    To determine which supplier should be selected as the source, the proposed supplier's bid must be substantially technically compliant/responsive with the specifications and the supplier must be deemed responsible.

    What is a no bid response? ›

    If your bidder receives a bid request for which no member wants to bid, you may submit a "no-bid" response. There are two types of no-bids: Global no-bids, in which a bidder chooses not to bid on any part of the bid request.

    Can a bid be rejected? ›

    (f) Any bid may be rejected if the contracting officer determines in writing that it is unreasonable as to price.

    Can a bid be Cancelled? ›

    Typically, once a bid has been placed, the auction cannot be cancelled unless there are exceptional circ*mstances, such as the item being damaged or lost.

    What is a bid error? ›

    Bid Error means a mathematical mistake made by a Bidder in an item number price entered into the proposal.

    How do you declare failure of bidding? ›

    12. Failure of Bidding Declared by the Bids and Awards Committee (BAC...
    1. Documentary evidences that no bids were received;
    2. Documentary evidences that all prospective bidders were declared ineligible;
    3. Documentary evidences that all bids failed to comply with all the bid requirements;

    What is the validity of a bid offer? ›

    Bid Offer Validity is the period during which the Seller Offer is valid from the Bid End Date. The buyer needs to award the order within the Bid Offer Validity Period.

    What does it mean when a bid expires? ›

    If the offer expires then the other party cannot accept it.

    What is the lifecycle of a bid? ›

    The Bid Lifecycle is designed to help you win more business, guiding you step-by-step through the complex process of bidding and submitting proposals. It has three intrinsically linked phases - the Capture Phase, the Bid and Pursuit Phase, and the Proposal Phase.

    What is the purpose of fake bids? ›

    The typical objective of bid rigging is to enable the "winning" party to obtain contracts at uncompetitive prices (i.e., at higher prices if they are sellers, or lower prices if they are buyers).

    What are fake bidders called? ›

    Shill bidding is when someone bids on an item to artificially increase its price, desirability, or search standing. When someone bidding on an item knows the seller, they might have information about the seller's item that other shoppers aren't aware of.

    What is false name bidding? ›

    A bid made under a fictitious name is called a false-name bid. Here, use the same model as the GVA section. In addition, false-name bids are modeled as follows. Each bidder can use multiple identifiers. Each identifier is unique and cannot be impersonated.

    Is phantom bidding illegal? ›

    A: Under California law, an auctioneer typically cannot bid on behalf of a proxy and also bid for themselves during an auction without the seller's consent. Such actions may raise legal and ethical concerns related to potential conflicts of interest and transparency.

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