bidding process
Seeking vendor offers
A bidding process is a formal procedure where multiple parties submit competing offers for a contract, project, or item.
Governments and corporations use bidding processes to ensure fair competition and optimal pricing: The city opened a bidding process for the new stadium construction.
The process typically involves requests for proposals, sealed bids, and evaluation criteria.
- tenderingFormally offering something
- request for proposalSolicitation for competitive bids
- bidderOne who makes offers
- contractorHired construction professional
- RFPFormal bid solicitation
evaluation criteria · auctioneer · competitive bidding · procurement · reverse auction · host cities · sealed bid · lowest bidder · compliance · World Cup · transparency · bid rigging · Dutch auction · Olympics · supplier · cost estimation · regulator · government contracts
- defense procurementdefense contracts, military procurement, military contracts, defense contracting, government contracts
- procurementprocurement, purchasing, purchase order, bidding, subcontract
- tax lienstax lien, tax deed, tax sale, tax foreclosure, tax arrears
bidding processno-bid contract
Agreement bypassing competitive selection
exclusive contract · cronyism · patronage · insider dealing · sweetheart deal
bidding processhandshake deal
Unwritten mutual commitment
verbal contract · gentleman's agreement · impulse buy · private arrangement · impulse purchase