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Glossary

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Natural person
Real persons, in contrast to corporations or institutions which are legal entities (cf. Art. 31 ZGB).
Negotiations
Detailed discussions between the contractor (principal) and the bidder, which help identify the strengths and weaknesses of a project (notably the cost/benefit ratio) and eventually to agree on the terms of the contract. This process is distinct from a technical evaluation of the bid, which helps to establish an objective comparison of the various bids received, before considering them in the light of the acceptance criteria. The latter, unlike the negotiations proper, is a purely internal process.
Nominal mortgage note
A mortgage note on which the creditor is mentioned by name. Transfer of the creditor’s rights requires a signed record of the transfer (endorsement) in addition to the physical transfer. cf. also mortgage note.
Nominal value
The nominal or face value of a share or a participation certificate (often a round number, e.g. CHF 100.-) designates a share of ownership in a company in relation to the total shareholders equity or the participation capital. The market value of a share is entirely independent of its face value. In the case of companies with an unblemished reputation the market value will be significantly higher than the nominal value. In Switzerland the nominal value has to be at least CHF 0.01. Elsewhere (e.g. USA) shares with no nominal value are common. The share of ownership is in this case defined by the number of shares held compared to the total number of shares issued.
Non discrimination
The principle according to which bidders from other treaty nations, their goods and services, are not treated unfavorably in comparison with bidders of the home country, their goods and services.
Notary service
Swiss cantonal offices perform the duties of a notary (e.g. attestation of declarations of intent, drawing up of official documents, authentication of signatures, protests, etc.), the administration of land registers (e.g. establishing and updating a land register) and of bankruptcy officials (e.g. conducting bankruptcy proceedings), cf. also Art. 1 ff. law on notaries public.
Notification of adjudication decision
Official publication of an adjudication decision or its notification in writing to those participating in the tender procedure and possibly to third parties. The decision must be published as such in the Swiss Official Gazette of Commerce (SOGC), it must be substantiated, and the right of appeal must be made clear.
 
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