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no bid
(redirected from No-bid contract)

   Also found in: Wikipedia 0.01 sec.
no bid

When a property with a Veterans Administration (VA) guarantee goes into foreclosure, the VA must perform an analysis regarding whether it would be cheaper to pay the guarantee amount or to buy the house from the servicer and then sell the house itself.When it chooses to pay the guarantee amount,it is called a no bid.



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Instead, the politicians give huge, overpriced, no-bid contracts to their campaign contributors without competitive bidding or cost analysis.
Garrity, an old Harvard Business School chum, a $900-a-day, no-bid contract to advise the Postal Service on a reorganization scheme.
7, 1997--Governor Pete Wilson this week will expand his program that awards no-bid contracts to private engineering companies, many of which make substantial political contributions to the Governor's campaign war chest.
 
 
 
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