Meaning bidding system
What does bidding system mean? Here you find 2 meanings of the word bidding system. You can also add a definition of bidding system yourself
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bidding systema collection of partnership understandings about the meanings of calls
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bidding systemA combination of terms and conditions under which a bid is submitted. The economic terms include, but are not necessarily limited to: (1) the minimum bid per acre, (2) the yearly rental, (3) the minimum royalty; and (4) the royalty or profit share rates imposed on future production from those tracts leased. See "royalty."
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