sealed bids
Hidden price proposals
Sealed bids are offers submitted in a competition where each bidder's price remains confidential until all bids are opened simultaneously.
The process prevents bidders from knowing what others have offered, discouraging collusion and last-minute undercutting.
Common in government contracts, real estate sales, and auctions: The city accepted sealed bids for the construction project.
We submitted our sealed bid before the Friday deadline.
- proposalFormal plan for consideration
- request for proposalSolicitation for competitive bids
- offerProposal to provide
- reserve priceMinimum acceptable bid
- closedNot accessible now
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