Acknowledgement Of Bid Receipt With Credit Card In Ohio
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Competitive bidding is a common practice for procurement that involves inviting multiple vendors to bid for the same material, product, or service per the business's requirements. It is usually opted by companies engaged in the large-scale delivery of products or services.
Competitive Bidding consists of the following processes: advertisement, pre-bid conference, receipt of eligibility documents and bids, eligibility check, opening and examination of bids, evaluation of bids, post-qualification, and award of contract.
Excluded from competitive bidding are expenditures for the services of an accountant, architect, attorney, physician, professional engineer, construction project manager, consultant, surveyor, or appraiser.
Bid thresholds refer to the preset dollar amounts that dictate whether an entity must follow formal bidding procedures for procurement of goods or services.
Pursuant to Section 9.17 of the Ohio Revised Code, the Director of the Department of Commerce determined the competitive bidding threshold for calendar year 2025 (January 1, 2025 – December 31, 2025) to be $77,250.
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.
