Competitive Bid


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Competitive Bid

A sealed bid, given to an issuer by an underwriter, containing a prospective price and terms for a contract. At the close date of bidding, the issuer picks the best offer. U.S. Government agencies are usually required to use this process and award the contract to the least expensive option. This is also used for various other ventures, from IPOs to project finance.
References in periodicals archive ?
and the competitive bids should be submitted between 10.
Therefore, the Florida statute restricting competitive bids for accounting services was unconstitutional.
Although this system can facilitate the submission of electronic bids, it is not designed to handle the last-minute rush of large competitive bids that, in fact, make up the bulk of the dollar volume of auction bidding.
This will, in all likelihood, increase the possibility of the seller receiving multiple competitive bids, and perhaps even lead to a "bidding" auction or sealed bids.

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