Receipt and Opening of Bids. The BAC shall open the bids in front of the bidder or any of their duly authorized representatives. All members of the BAC who are present during the opening shall initial every page of the original copies of all eligible document received and opened.
What is a bid opening? The formal process in which sealed bids are opened at the time and place specified in the Invitation for Bids and recorded.
Bid Acknowledgement means the acknowledgement and acceptance of Bid Quotes by Company or (if applicable) a Permitted Borrower in the form attached as Exhibit "B" hereto.