Dictionary of Procurement Terms

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Search Results: 41-50 of 121 results for “B”

  • Bid File

    A file containing the individual bids from all suppliers solicited by the Invitation for Bids (IFB).

  • Bid Guarantee


    See Also: Bid Bond, Bid Deposit

  • Bid Identification Number

    CANADIAN An alpha numeric code unique to the Bid Solicitation.

  • Bid Opening

    The official process in which sealed bids are opened, usually in the presence of one or more witnesses, at the time and place specified in the Invitation for Bids. The amount of each bid is recorded and bids are made available for public inspection. The bid opening may be open to the public.

  • Bid Preference

    Procurement laws mandating that bid prices for a preferred class of bidders be given special consideration when comparing their bid prices with those of other bidders not in the preferred class, i.e., “local” suppliers may be given a bid preference over suppliers that are not defined as “local.”

    See Also: Buy Local, Local Preference

  • Bid Protest

    A formal complaint made against the methods employed or decisions made by a procurement authority in the process leading to the award of a Contract. Also see Award Protest, Protest, and Dispute.

    See Also: Award Protest, Protest, Dispute

  • Bid Rigging

    The agreement among potential competitors to manipulate the competitive bidding process, for example, by agreeing not to bid, to bid a specific price, to rotate bidding, or to give kickbacks to purchasers.

  • Bid Sample

    A sample to be furnished by a bidder to show the characteristics of a product offered in a bid. Bid samples are used only to determine the responsiveness of the bid. (Nash et al., 2007)

  • Bid Security

    A bond or deposit which guarantees that the bidder, if awarded the contract, will honor their bid as submitted.

  • Bid Set

    CANADIAN A package of data that identifies the article to be purchased, the quantity, and delivery, and includes designs, specifications, quality requirements, and general conditions that govern the Contract resulting from Acceptance of a Bid.