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Competitive Bid |
Also found in: Medical, Legal, Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Competitive Bid A sealed bid, given to an issuer by an underwriter, containing a prospective price and terms for a contract. At the close date of bidding, the issuer picks the best offer. U.S. Government agencies are usually required to use this process and award the contract to the least expensive option. This is also used for various other ventures, from IPOs to project finance. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Robert Scott, chairman of the Valley Industry and Commerce Association, sent the superintendent a letter urging him to consider putting cafeteria services out to competitive bid. Comair managers say the airline's ability to offer a competitive bid depends on whether it wins concessions from its unions. Trammell Crow Company was selected through a rigorous, competitive bid process and emerged as the best choice to help us achieve our aggressive cost-savings goals through better asset utilization, consolidation of existing facilities and reduced operating expenses," said Frank Boyer, EDS vice president and chief supply officer. |
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