Bid Assessment
/ˈbɪd əˌsɛs·mənt/
Definitions
- (n.) The systematic evaluation of proposals submitted by bidders to determine the most advantageous offer according to predefined legal and contractual criteria.
The bid assessment concluded that Company A provided the best value for the project.
Forms
- bid assessment
- bid assessments
Related terms
See also
Commentary
Bid assessment must align with statutory procurement rules and ensure fairness and transparency to mitigate legal challenges.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.