Bid
A firm offer submitted by a contractor to perform work for a client at a specified cost and in accordance with the terms and conditions defined in a proposal for a construction project.
If the bid is accepted by the client, the contractor is expected to honor the commitment and deliver the work.
Used in a sentence
We submitted our bid for the project ahead of the deadline.
Synonyms/variation
Proposal
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Construction business development isn’t just a response to deadlines: It’s a long-term strategy rooted in focus, visibility and timing. Delays, funding gaps and market pressure have made it harder to predict which pursuits will move forward and which will disappear after award. At the same time, clients expect more from their GC partners: earlier involvement, […]
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Winning Bids with BIM: Marketing the Benefits to Owners
Creating a 3D model of a construction project is becoming more common but, that doesn’t mean that all projects leverage BIM – or, that all companies are using BIM in the same ways. Most construction firms with a BIM manager, or some other dedicated modeling department, will model at least part of the project. The added […]
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