Mathematically Unbalanced Bid
Defined in the standard specifications of 3 state transportation agencies. Each definition below is the agency’s own text, with the section it comes from — they do not all say the same thing, and on a contract the difference is the point.
Definitions are quoted from state-authored public specification books. This page carries no I-Code-derived terms.
A proposal containing pay items that do not include reasonable labor, equipment, and material costs plus a reasonable proportionate share of the bidder’s overhead costs, other indirect costs, and anticipated profit. Notice of Award. The written notice to the successful bidder stating that the Department accepts the bidder’s proposal. Notice to Proceed (NTP). A written notice to the contractor to begin work specifying when the
Section 101 — GENERAL INFORMATION, DEFINITIONS, AND TERMS →Bid containing lump sum or unit price bid items that do not reflect reasonable actual costs of labor, equipment, and materials, plus a reasonable proportionate share of the Bidder ’s anticipated profit, overhead costs, and other indirect costs.
Section 101 — Terms, Format, and Definitions →A bid is mathematically unbalanced if the bid co ntains lump sum or unit bid items which do not reflect reasonable actual costs plus a reasonable proportionate share of the bidder’s anticipated profit, overhead costs, and other indirect costs.
Section 101 — Terms and Definitions →