Responsible Bidder
/rɪˈspɒnsəbəl ˈbɪdər/
Definitions
- (n.) A bidder who meets the requisite legal, financial, and technical standards established by a contracting authority to be eligible for contract award.
The contract was awarded only to a responsible bidder who demonstrated financial stability and relevant experience.
Forms
- responsible bidder
- responsible bidders
Related terms
See also
Commentary
The term 'responsible bidder' is often defined in procurement regulations to ensure public funds are awarded only to capable parties; standards may vary by jurisdiction.
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.