Agreement

The agreement document to be signed by and between the Contracting Authority and the Contractor, and which forms an integral part of the Contract.

Award criteria

The criteria upon which the decision for the award of the contract is based. They can be either the “most economically advantageous tender” or “the lowest price”.

Award Decision

The decision issued by the competent body of the Contracting Authority or Contracting Entity, as the case may be, whereby the Contract is awarded to the selected Tenderer.

Budget

The likely cost as estimated by the Contracting Authority for implementation of the Contract Scope, exclusive of VAT.

Business Case

The document containing a brief description of the justification for initiating a Project, an examination of the alternative solutions available for implementation of the Project, and a documentation of the solution proposed.

BVFM

Best Value for Money.

Candidate economic operator

An economic operator which has sought an invitation to take part in a restricted or negotiated procedure or a competitive dialogue.

CBA

Cost-Benefit Analysis.

Competent Authority for Public Procurement

The Treasury of the Republic of Cyprus.

Competent Body

A body established by virtue of the Regulations which, within the powers granted to it, undertakes and handles matters concerning public procurement.

Competitive Dialogue

The procedure in which any economic operator may request to participate and whereby the Contracting Authority conducts a dialogue with the candidates admitted to that procedure, with the aim of developing one or more suitable alternatives capable of meeting its requirements, and on the basis of which the candidates chosen are invited to tender.

Contract

The public supply/service/works contract between the Contracting Authority and the Contractor, concluded after announcement of the Award Decision.

Contract value

The amount specified in the Contract.

Contracting Authorities

The State, regional or local authorities, bodies governed by public law, and associations formed by one or several of such authorities or one or several of such bodies governed by public law.

Contracting Entity

Contractor

The Tenderer to be selected to enter into a Contract with the Contracting Authority or Contracting Entity, in the manner, under the terms and in accordance with the procedure described in the Tender Documents.

Contractor (in the case of public works contracts)

Any natural or legal person or public entity or group of such persons and/or bodies, which offers on the market the execution of works and/or a work.

Cost-Benefit Analysis

A tool / financial assessment technique used to compare the anticipated benefits of proposed investments/Projects, with their related cost figures, in order to assist users in specifying an alternative solution that represents the maximum net benefit (benefits less costs).

CPV

Common Procurement Vocabulary.

Economic operator

Means a supplier and/or contractor and/or service provider.

Evaluation stage

The stage during which the competent bodies for evaluation assess the tenders from both a technical and commercial perspective, to assess compliance with the procurement requirements and consider the quality and cost of the solution offered.

Feasibility Study

The analysis of a business problem with the aim of establishing whether it may be resolved effectively.

Fee-based  / Labour-based Contract

A contract whereby services are provided for an agreed fee per working day, week or month, for each category of personnel employed.

Framework Agreement

An agreement between one or more Contracting Authorities and one or more economic operators, the purpose of which is to establish the terms governing contracts to be awarded during a given period, in particular with regard to price and, where appropriate, the quantity envisaged.

Funding Agency

The entity undertaking to finance (or co-finance) the Project (the State, the EU Funds etc.).

Global Price Contract

A contract whereby services are provided for a total agreed price, or for individual agreed prices for the individual services under the total Contract Scope.

ICT

Information and Communications Technology.

Implementing Agency

An entity with sufficient technical and managerial know-how and capacity to implement the Project as this is specified in the Project Fiche.

Interested Economic Operator

Any natural or legal person or any Consortium of natural or legal persons that has obtained the Tender Documents.

ITT

Invitation to Tender.

Lowest Bidder

The Tenderer with the lowest tender amount, as per the results of the evaluation.

MEAT

Most Economically Advantageous Tender

Negotiated procedure

The procedure whereby the Contracting Authorities consult the economic operators of their choice and negotiate the terms of contract with one or more of these.

Open procedure

The procedure whereby any interested economic operator may submit a tender.

Penalty Clause

The compensation specified in the Contract as being payable by one contracting party to the other for failure by the latter to fulfil their obligations as set out in the Contract.

PFI

Public Finance Initiative.

PPD

The Public Procurement Directorate of the Treasury of the republic of Cyprus.

PPP

Public Private Partnership.

PQQ

Pre-Qualification Questionnaire.

Procurement Team

The Team comprising all personnel involved in public procurement, including Evaluation Committees.

Project

Is defined in general as “a temporary effort undertaken to promote a unique result”.

Project Beneficiaries

The future users, those for which the Project is implemented, those whose needs have to be satisfied and taken into account when the Project is set up.

Project Fiche

The document serving as the basis for initiating a Project and containing: the scope and objectives of the Project; the Activity Groups and deliverables of the Project; the organisation, roles and responsibilities of the roles involved in the implementation and management of the Project; the provisional budget for the Project; the potential risks to the Project; and the Project assumptions and constraints.

Project Life Cycle

A logical sequence of activities to accomplish the Project’s goals or objectives. Typically, the Project Life Cycle consists of four key phases:

Project Management

The application of skills, tools, techniques and processes for successfully planning, coordinating, implementing, monitoring and controlling a Project.

Project Manager

The natural or legal person responsible for monitoring the implementation of the Contract and for handling the Contract on behalf of the Contracting Authority.

Project Owner

The legal entity which assumes the legal responsibility for the Project, once this has been completed. It is also the representative of the beneficiaries and is responsible for the Project’s operating and maintenance costs.

Public contracts

Contracts for pecuniary interest, concluded in writing between one or more economic operators and one or more Contracting Authorities and having as their object the execution of works, the supply of products or the provision of services within the meaning of Law 12(I)/2006.

Public service contracts

Public contracts other than public works contracts and  public supply contracts, having as their object the supply of services referred to in Annex II of Law 12(I)/2006.

Public supply contracts

Public contracts other than those referred to in the interpretation of the term “public work contracts”, having as their object the purchase, lease, rental or hire purchase, with or without option to buy, of products.

Public works contracts

Public contracts having as their object either the execution, or both the design and execution, of works related to one of the activities within the meaning of Annex I of Law 12(I)/2006 or a work, or the realisation, by whatever means, of a work corresponding to the requirements specified by the Contracting Authority.

Qualitative selection criteria

The criteria used in the qualitative selection stage for checking the suitability of the economic operators. These criteria refer to the:

Qualitative Selection Stage

The first stage of the evaluation process, during which the suitability of the economic operators is checked.

Restricted Procedure

The procedure in which any economic operator may request to participate and whereby only those economic operators invited by the Contracting Authority may submit a tender.

Running Contract

A Contract whereby the Contractor undertakes the obligation to deliver all or part of the products following the receipt of corresponding Orders, and in which the individual and total quantities of products specified in the Tender Documents are indicative and may turn out to be higher or lower than the quantities to result from the Orders.

Service provider

Any natural or legal person or public entity or group of such persons and/or bodies, which offers on the market the provision of services.

Simplified Procedure

The procurement procedure used for contracts with a value below the threshold of 50.000,00 Euro  as specified in Law 12(I)/2006.

Small and Medium-Sized Enterprise (SME)

An undertaking with less than 250 employees.

Social Enterprise (SE)

A business driven by social objectives, where profits are principally reinvested in the business or in the community, rather than by the need to maximise profit for shareholders and owners. Social enterprises non-profit taking organisations.

Supplier

Any natural or legal person or public entity or group of such persons and/or bodies, which offers on the market the supply of products.

Tender

The technical and financial proposal for implementation of the Contract Scope, prepared and submitted by the Tender in the manner, and according to the terms, described in the Tender Documents.

Tender Documents

The documents comprising the Contract Notice, Part A (Instructions to Economic Operators), Part B (Agreement and Special Conditions of Contract), Annex I (General Conditions of Contract), Annex II (Terms of Reference – Technical Specifications), the attached Appendix with Templates for Financial Guarantees, Declarations etc. which, according to the provisions of the relevant clauses in the Tender Documents, are required to be submitted by the Tenderers, and any addendums thereto.

Tenderer

Any Economic Operator, natural or legal person or consortium of natural or legal persons, which participates in the tender procedure by submitting a Tender for the purpose of entering into a Contract with the Contracting Authority.

VFM

Value for Money.

WLC

Whole Life Cost.

Work

The outcome of building or civil engineering works taken as a whole, which is sufficient of itself to fulfil an economic or technical function.