Dictionary of Procurement Terms

The Bidder who fully complied with all of the bid requirements and whose past performance, reputation, and financial capability is deemed acceptable, and who has offered the most advantageous pricing or cost benefit, based on the criteria stipulated in the bid documents.

A response to a solicitation that does not conform to the mandatory or essential requirements contained in the solicitation.

A bid, proposal, or offer that fully conforms in all material respects to the solicitation and all of its requirements, including all form and substance.