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International Competitive Bidding |
Also found in: Acronyms, Wikipedia | 0.01 sec. |
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International Competitive Bidding A system the World Bank uses to reduce the risk of the loans it makes. It requires borrowers to advertise the project a loan is funding in an international language and to accept the lowest (reasonable) bid from subcontractors. Agreeing to abide by international competitive bidding is a condition of borrowing from the World Bank. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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