Criteria for Awarding Contracts

Criteria for awarding contracts involve evaluating bids based on factors like cost, quality, experience, and ability to meet deadlines. The goal is to select the proposal that offers the best value, balancing price with competence and reliability. Often, a formal process ensures fairness and transparency, with clear rules to prevent favoritism or bias. The decision considers not just the lowest price but also the supplier’s reputation, work quality, and compliance with requirements. This approach ensures the contract is awarded to the most suitable, capable, and cost-effective provider for the project or service.