stage (3.3.11) covering events up to the point when a contract (3.1.2) is placed

The process in which an owner, based upon financial, management and other qualitative data, determines whether a firm is qualified to compete for a project or class of projects (prequalification should be distinguished from short-listing).

formula for amending contract (3.1.2) price (3.6.5) as a function of the variation in certain indices or parameters