cost reimbursement contract (3.12) under which a preliminary target cost is estimated and, on completion of the work, the difference between the target cost and the actual cost is apportioned between the employer (3.15) and contractor (3.9) on an agreed basis
[SOURCE: ISO 6707-2:2017]
process used to create a demand for the services or goods (or both) of, or to secure the participation of, targeted enterprises and targeted labour in contracts (3.7) in response to the objectives of a secondary procurement policy (3.30)
[SOURCE: ISO 10845-1: 2020]
document that establishes the tenderer's (3.39) obligations in submitting a tender and the employer's (3.15) undertakings in administering the tender process and evaluating tender offers (3.38)
[SOURCE: ISO10845-1:2020]
written offer to supply goods, carry out construction works and/or provide services under given conditions, usually at a stated price, and which is capable of acceptance (3.1) and conversion into a binding contract (3.7)
[SOURCE: ISO 10845-1:2020]
person or organization (3.21) that submits a tender offer (3.38)
Note 1 to entry: The terms tender and tenderer have been used in preference to “bid” and “bidder”. The terms “bid” and “bidder” are used in this document in the context of auctions.
[SOURCE: ISO10845-1:2020]
optimal use of resources to achieve intended outcomes
Note 1 to entry: optimal use of resources results in the most desirable possible outcomes given expressed or implied restrictions or constraints.
[SOURCE: ISO 10845-1:2020]
promise of measurable benefits
Note 1 to entry: The client’s (3.4) business case (3.3), vision, values and project priorities collectively make up the client’s value proposition for a project
[SOURCE: ISO 6082:2024]