Open Bidding
/ˈoʊpən ˈbɪdɪŋ/
Definitions
- (n.) A procurement process where bids are publicly invited and evaluated under transparent rules.
The government agency announced an open bidding to select contractors for the new highway project.
- (n.) A method of auction in which all bids are disclosed to participants, promoting competitive and fair price discovery.
The auctioneer conducted an open bidding, ensuring all participants could see the current highest offer.
Forms
- open bidding
Related terms
See also
Commentary
Open bidding emphasizes transparency and fairness in public procurement; drafters should specify procedural requirements to avoid disputes.
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.