Invitation for bid
A bidding method used in the construction industry to solicit a competitive bid from a vendor on a fixed price contract, advertised publicly with sealed bids to ensure competitiveness.
An invitation for bid is a formal request issued to potential contractors to submit proposals for a project. It includes project details and requirements, initiating the competitive bidding process that ensures the selection of qualified and competitive contractors.
Used in a sentence
The invitation for bid was sent out to select contractors to start the bidding process.
Synonyms/variation
IFB
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