An invitation to potential suppliers to submit their offers and a price for a particular opportunity. A closed bid is formal, written, and sealed, and usually all closed bids are opened and reviewed at the same time, with the contract being awarded to the lowest bidder who meets the specifications. An open bid is usually more informal and is used w [..]

The process of soliciting or submitting bids. [D02414]

A common procurement practice designed to secure value for money by inviting a number of suppliers to submit offers.  Most procurement governance schemes allow non-competitive bids for lower value acq [..]

In two-stage bidding the first stage of bidding invites tenderers to submit technical solutions or provide information about their proposed offering.  In the light of the responses, the buyer shortlis [..]

Definition noun

Getting prices from various contractors and/or subcontractors.

is the process of offering a dollar amount for an item listed in an auction.

Bidding is an offer (often competitive) of setting a price one is willing to pay for something. A price offer is called a bid or quote. Three written quotations are required for all purchasing transactions totaling $2,500 or more. A fourth, "opportunity" small, disadvantaged business should be included whenever possible.

(n) an authoritative direction or instruction to do something(n) an attempt to get something(n) a formal proposal to buy at a specified price(n) (bridge) the number of tricks a bridge player is willin [..]

Pricing statements presented by more than one party for the purpose of securing a Contract.

Auctions are studied because they are market institutions of practical importance. Their simple procedural rules to resolve multilateral bargaining ...

The period following the deal and ending after the third successive pass of any bid, double or redouble.

auction; the phase of bridge in which the players bid for the right to name the final contract

The various bids which make up the auction.

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