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201

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