Definitions for Call for bids
call for bids

WikipediaRate this definition:0.0 / 0 votes

1. call for bids

   An invitation to tender (ITT, otherwise known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ). The term "notice inviting tenders" (NIT) is often used in purchasing in India.An ITT differs from a request for quotation (RFQ) or a request for proposal (RFP), in which case other reasons (technology used, quality) might cause or allow choice of the second best offer. An RFP is a request for a price from a buyer but the buyer would also expect suggestions and ideas on how the project work should be done. RFPs are thus focused on more than just pricing/cost, they entail a bit of consulting from the contractor or vendor. The closest equivalent to an ITT in the mainstream private sector is an RFP which, since public money is not involved, typically has a less rigid structure.

ChatGPTRate this definition:0.0 / 0 votes

1. call for bids

   A call for bids refers to a formal process in which a company or organization invites potential suppliers or contractors to submit their proposals or price quotes for a specific project, product, or service. It typically involves outlining the requirements, specifications, and terms of the project and allowing interested parties to compete by providing their offers. The purpose of a call for bids is to promote transparency, fairness, and competition in the procurement or selection process. The company or organization evaluates the submitted bids and chooses the most suitable supplier or contractor based on various factors such as cost, quality, and experience.

WikidataRate this definition:0.0 / 0 votes

1. Call for bids

   A call for bids, call for tenders, or invitation to tender is a special procedure for generating competing offers from different bidders looking to obtain an award of business activity in works, supply, or service contracts. They are usually preceded by a pre-qualification questionnaire.

How to pronounce Call for bids?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say Call for bids in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Call for bids in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of Call for bids in Pythagorean Numerology is: 2

Examples of Call for bids in a Sentence

1. Energy Minister Pedro Joaquin Coldwell:

   We are conducting a full evaluation in order to launch the deep water call for bids by the end of September and give us more time to perfect the criteria because we shouldn't have any margin for error on that.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Call_for_Bids
2. ^ ChatGPT
   https://chat.openai.com
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=Call for bids