Bidding Process
/ˈbɪdɪŋ ˈprəʊsɛs/
Definitions
- (n.) A formal procedure by which entities invite and evaluate offers to enter into contracts, typically for procurement or project work.
The contracting authority initiated a competitive bidding process to select the most qualified vendor.
Forms
- bidding process
Related terms
See also
Commentary
Ensure clarity in defining stages and criteria in bidding process clauses to avoid disputes over evaluation and award.
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