The Evaluation Committee should conduct a financial evaluation and comparison to determine the evaluated price of each bid and determine the highest evaluated bid, which is substantially responsive to the requirements of the bidding document. The evaluated price for each bid should be determined by:
- Taking the bid price, as read out at the bid opening;
- Making adjustments for any non-material non-conformity, error or omission;
- Applying any additional evaluation criteria, through an increase or decrease to the bid price;
- Converting all bids to a single currency, using the currency and the source and date of exchange rate indicated in the bidding document; and
- Bids should be compared by ranking them according to their evaluated
- price and determining the bid with the highest evaluated price.