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Open Bid |
Also found in: Legal | 0.01 sec. |
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Open Bid A bid in which the bidder may change the amount offered. For example, suppose a construction company makes an open bid to complete a project for $150,000. If a competing company makes a bid for $130,000, the first company reserves the right to revise its bid downward in hope of being awarded the contract. 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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