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CHAPTER 8
All-or-none bid:
A tender/offer submitted for a number of different goods or services
in which the tenderer stipulates that the tender/offer is valid only
if the contract is awarded for all items included in his tender/offer.
All risks:
An insurance policy which covers the insured goods for loss by any
unforeseeable cause. The policy does not cover loss due to causes
which could have been anticipated and against which preventive
steps could have been taken. See also Institute Cargo clauses.
Analysis of tenders/
offers:
The tabulation and evaluation of tenders/offers submitted by
tenderers and the summary of these to a comparable basis so as to
facilitate comparison and enable the buyer to select the best tender/
offer. See also Tender evaluation and Tabulation of tenders/offers.
Appropriate
technology:
Technology deemed to meet specific requirements of, and operating
conditions in, a particular country of location.
Arbitration:
A method of settling a dispute between the parties involved in a
contract by referring it to one or more neutral persons, selected by
the parties, for a decision.
Arrival notice:
An intimation sent by the carrier to the consignee advising of the
arrival of shipment.
As is:
Offer of goods for sale without a warranty or guarantee, and with
the stipulation that the buyer takes the goods at his own risk,
without any recourse to the tenderer for the quality or condition of
goods. Sometimes includes the location as well: ‘As is and where
is condition’.
Assignment:
Refers to transfer of a right on or a title to goods or know-how to
another party. For example, title to goods may be transferred by
assignment on a bill of lading by the original consignee (referred to
as the assignor) to another, the assignee.
Assessor:
A person who is appointed or designated to estimate the value
of goods for the purpose of apportioning the sum payable in the
settlement of an insurance or any other claim.
Award:
The action taken by the buyer, after examining and comparing the
tenders/offers received, through which it:Selects the tender/offer
that is determined to be substantially responsive to the tender
documents and is the most advantageous (i.e., the best evaluated
bid with respect to the evaluation criteria set up); and Officially
notifies the tenderers of the decision as to the award of the contract.
It is one of the most important stages of the procurement cycle,
since it accomplishes a principal objective, that is, selection of the
tenderer which is to carry out the works or services or provision of
the goods that were the object of the procurement. In effect, the
award completes the contract.
GLOSSARY