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THE LAND AND DEVELOPMENT BANK - page 4 / 13

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Definition of Terms

1.1

RFP - means a Request for +-proposals, this is a written official enquiry document encompassing all the terms and conditions of the Tender.

1.2

Tender - means a written offer or bid in a prescribed form in response to an invitation for the provision of services.

1.3

Acceptable Tender - means any tender, which, in all respects, complies with the specifications and conditions of the RFP as set out in this document.

1.4

Prime Tenderer – means any person (natural or juristic) who forwards an acceptable tender in response to this RFP with the intention of being the main contractor should the tender be awarded to him.

1.5

Tenderer agent - means any person mandated by a prime tenderer or consortium/joint venture to do business for and on behalf of, or to represent in a business transaction, the prime tenderer, and thereby acquire rights for the prime tenderer or consortium/joint venture against Land Bank and incur obligations binding the prime tenderer or consortium/joint venture in favour of Land Bank.

1.6

Consortium or joint venture  - means an association of persons for the purpose of combining their expertise, property, capital, efforts, skill and knowledge in an activity for the execution of a contract.

1.7

SMME - means all enterprises, which operate in the market as small and medium-sized enterprises.

1.8

Firm price - means the product or service price fixed and firm for a specific period and thereafter subject to adjustments in accordance with the actual increase or

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