What does the term "bid evaluating criteria" refer to in the tender process?

"Bid evaluating criteria" refers to the standards established for assessing submitted bids during the tender process. This set of criteria allows evaluators to objectively compare and analyze proposals based on predetermined benchmarks, ensuring that the selection process is fair and transparent. These criteria might include factors such as price, technical capability, compliance with the requirements, and overall value offered by the bidders.

Establishing clear bid evaluating criteria is crucial because it helps in making informed decisions and ensuring that the chosen bid meets the project's needs effectively. By focusing on these standards, organizations can prioritize their goals and align the evaluation process with their strategic objectives, thus facilitating a better selection of contractors or suppliers.