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 ?
Government information reveals that the Ministry of National Defense (MOND) has awarded the military's group accident insurance coverage to Union Insurance Company since 2009 through open bids, totaling more than NT$200 million (US$6.3 million) annually.
These schemes were already E tendered before the elections.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 offer made by Philips is 30.8% lower over the procurement price of INR54.9 at the last open bid that took place in last March, revealed industry sources.
Winners at the open bid are all first-tier PV module makers, comprising Lerri Solar, BYD, CECEP Solar Energy Technology (Zhejiang), CSI, Eoplly New Energy Technology and Jinko Solar Holdings.
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.
Big names from the hospitality sector such as the Oberoi group, ITC, the Sahara Group and French hotel giant Accor have all expressed interest in the Mansingh Road property and the urban development ministry is believed to be backing the idea of open bids as well.
International Resource News-16 September 2009-PTT to open bids to buy natural gas pipe(C)2009 ENPublishing - http://www.enpublishing.co.uk
MULTAN -- :Water and Sanitation Agency (WASA) would open bids on Monday for installation of water meters at five big mineral and beverage factories situated in the city.
MULTAN -- Water and Sanitation Agency (WASA) would open bids on Monday for installation of water metres at five big mineral and beverage factories situated in the city.