Definition of Competitive bidding:
A transparent procurement method by which a competing contractor, supplier or seller is encouraged to bid, reveals the scope, specifications and terms of the publicly proposed contract and the criteria by which the bid is evaluated. Will be used to The purpose of tenders is to procure goods and services at the lowest possible price, to avoid competition and preferential treatment. (1) In an open offer (also called an open offer), a closed offer is open to anyone who (2) participates in opening an offer in a closed offer (also called a closed offer). Wants Closed bids are open only in the presence of competent authorities. See also Competitive Negotiations.
How to use Competitive bidding in a sentence?
- There is a lot of competition and people are really trying to make the most of this business.
- Governments use competitive deals to get what they want, to get what they want, while business lawyers believe they have the opportunity.
- In one bid, ACME was able to close the deal as the lowest bidder. Now the question is, can they be sold at such a low price?
Meaning of Competitive bidding & Competitive bidding Definition