Sealed Bidding
/ˈsiːld ˈbɪdɪŋ/
Definitions
- (n.) A procurement method in which bids are submitted confidentially and opened simultaneously to prevent unfair advantage.
The government contract was awarded through sealed bidding to ensure fairness.
Forms
- sealed bidding
Related terms
See also
Commentary
Sealed bidding emphasizes impartiality and transparency by preventing bidders from seeing competitors' offers before submission.
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