Open Bid


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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.
References in periodicals archive ?
7 of them finalized on open bid to winners contractors while 6 others will be re open against so as to attract contractors with below rates.
The regulator had issued its final observations on Diageo's open bid on 31 January 2013, a senior official said as quoted by PTI.
Boat builders and engine suppliers have been invited to enter into an open bid process for the delivery of boats in the UIM Circuit Class GT-15 and GT-30.
The Beijing municipal bus authority launched an open bid program to invite all OEMs and auto-part makers to bid for the contract for the National IV buses.
The Indian Government has strategy to use LED fixtures for the replacement of residential lighting and streetlights across 100 cities in the country within March 2019, and to achieve this goal, it will buy 200 million LED light bulbs through open bid process this year, according to the sources.
Photovoltaic solar energy power station, expected after 2017 only 750 kW for small rooftop systems to get FIT subsidies, annual planning 600 MW open bid amount.