Commercial Bid Evaluation (CBE) is one of the contractor selection processes that is a comparison table of the cost and commercial related items or conditions (e.g., proposed currency, payment method, guarantee and liability, bond and insurance, etc.) for proposed bidders, contractors, or subcontractors. The Bid Evaluation is performed based on bid evaluation criteria including the categorised weighted values for the proposed price analysis; terms and conditions; financial stability of the bidder; terms of payment; and delivery schedule, etc.
Related Definitions in the Project: The Project Proposal; Project Cost; Procurement
