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Open Bid

   Also found in: Legal 0.01 sec.
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.


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You can choose either an open bid where all qualified Elance professionals can bid or an invitation only bid where you can peruse portfolios and choose which providers you''d like to invite to bid on your project.
In the recent third round of the Beijing municipal bus National IV standard open bid program, despite intense competition, Yuchai was awarded the contract to install its diesel engines for all 866 buses.
RAYMOND RUSSELL, top Scot at the 98 Open, has consulted a sports shrink in a bid to keep his Millennium Open bid on course.
 
 
 
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