Sealed Bid
/ˈsiːld bɪd/
Definitions
- (n.) A proposal or offer submitted in a procurement process, enclosed to prevent disclosure to other bidders until the deadline.
The company submitted a sealed bid to ensure confidentiality during the tender process.
- (n.) A bidding method in which offers are written and sealed to ensure fairness and secrecy.
The government contract was awarded after reviewing all sealed bids.
Forms
- sealed bids
Related terms
Commentary
Use sealed bids to maintain competitive fairness and confidentiality; drafting should specify submission and opening procedures clearly.
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.