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Reinsurance Plaza, 7th Floor P.O. Box 1549400100 Nairobi KENYATelegraphic Address: 22921 Finance Nairobi Fax No. 310833 Telephone: 0202389235 TO ALL BIDDERS April 30, 2020ADDENDUM NO.1 In accordance
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01
Identify the setting to be economically valued.
02
Determine the scope of the valuation - what aspects of the setting will be considered.
03
Collect data on the setting including environmental, social, and economic factors.
04
Use appropriate valuation methods such as cost-benefit analysis or contingent valuation.
05
Analyze the data and calculate the economic value of the setting.
06
Present the findings in a clear and concise manner.

Who needs economic valuation of setting?

01
Government agencies planning policies and regulations for the setting.
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Environmental organizations advocating for conservation of the setting.
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Private companies considering investments in or near the setting.
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Researchers studying the impacts of the setting on local communities.
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The economic valuation of setting refers to determining the monetary value of an entire setting or environment.
The entities or individuals responsible for the setting or environment are typically required to file the economic valuation.
To fill out the economic valuation of setting, one must gather relevant data on the setting's features and characteristics and then apply different valuation methods to calculate its economic value.
The purpose of the economic valuation of setting is to assess the importance and worth of the setting in economic terms, which can help in decision-making, policy formulation, and resource allocation.
The economic valuation of setting typically requires information on the setting's physical attributes, ecosystem services, market values, and any potential impacts of development or degradation.
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