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FTA SUBRECIPIENT MONITORING JANUARY 2016 Contents Purpose .

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Best value for money is defined as the most advantageous combination of cost, quality and sustainability to meet customer requirements. In this context: cost means consideration of the whole life cost. quality means meeting a specification which is fit for purpose and sufficient to meet the customer's requirements.

Indirect costs are costs that are not directly accountable to a cost object (such as a particular contract or product). Indirect costs may be either fixed or variable.

A low-cost bid looks only at the cost of a service and no other factors. With a best-value RFP, the government employee requests information about important components for that service and then scores the RFP based on their value to select the winning bid.

ing to FTA, “best value requires tradeoffs between price and non-price factors to select the best overall value to the recipient.” For more information about determining best value, please see Section 4.3, Competitive Proposals Evaluation Process, of FTA's Best Practices Procurement and Lessons Learned Manual.

Best Value Procurement: Procurement method implemented by issuing Request for Proposals (RFP) where evaluation factors in addition to cost/price are considered in the selection of a firm or contractor and encompasses the total benefits a State entity expects from the acquisition.

Equipment means an article of nonexpendable, tangible property having a useful life of at least one year. Exclusive-use maintenance facility means a maintenance facility that is not commercial and either owned by a transit provider or used for servicing their vehicles.

The Common Grant Rules requires that all third-party contracts include provisions adequate to form a sound and complete agreement. Compliance with Federal laws and regulations will usually result in the addition of many other contract provisions to ensure compliance with those laws and regulations.

Best Value: The expected outcome of an acquisition that, in the government's estimation, provides the greatest overall benefit in response to the requirement.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232