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 ?
This Priest Lake auction had the most lots with competitive bids of any Priest or Payette lakes state auction.
(3) As noted by Fisher (1987) and Bulow and Klemperer (1996), competitive bids are likely to exhibit dispersion on quality and price dimensions, and bid dispersion increases the likelihood that the highest-quality/lowest-price bid will be included in the set under consideration.
But I should note again that the first phase is limited because it could not handle--and was never designed to handle--the last-minute flurry of large competitive bids; nor does it have a reliable automated backup system.
The issue was 89 per cent oversubscribed and competitive bids amounted to e1/4131m and non-competitive bids to e1/458m, the finance ministry's PDMO said in a statement on its website.
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.
Therefore, the Florida statute restricting competitive bids for accounting services was unconstitutional.
First, each institution that is "eligible" to submit competitive bids in Treasury auctions would have a terminal-based telecommunications link to the Federal Reserve Bank of New York, either directly or through another Federal Reserve Bank.

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