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 ?
8 million to install security grilles without competitive bids.
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.
To accomplish this, you should first be certain that only those brokers that you are willing to award the business to be asked for competitive bids.
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.
4 million new money GO 2007 series A bonds for competitive bids Jan.
8 million for security bars without accepting competitive bids for the work, according to an audit released Friday.
AUSTIN, Texas -- Verde Energy, an online marketplace designed to provide homeowners and businesses with competitive bids on renewable energy projects, served its one-thousandth solar power customer since announcing its launch on August 1, 2006.
The LAUSD also would split large repair jobs, issuing several B contracts for amounts that fell just below the threshold requiring formal competitive bids, usually $15,000.
Anecdotally, we hear about firms that do not report in a GIPS-compliant fashion, even those who use the AIMR-PPS standards, often excluded from competitive bids.
Indeed, there is no good reason not to solicit competitive bids for government contracts, as long as the contract is awarded to a qualified firm, as required by Proposition 224.

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