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26.4 The Purchaser shall prepare a record of the Bid opening that shall include, as a minimum: the name of the Bidder and whether there is a withdrawal, or modification; the Bid Price, per lot if applicable, including any discounts, and the presence or absence of a Bid Security or Bid-Securing Declaration.
Bid documents include the plans, specifications and estimates (PS&E) developed to describe all of the elements of a construction project and become the contract between the local government and the selected contractor.
The bidding process is used to select a vendor for subcontracting a project, or for purchasing products and services that are required for a project. Bid records contain the specifications of the project or details of the products and services to be purchased.
An INVITATION TO BID is the notice published by the Owner or the invitation issued to prospective bidders, giving information as to the nature of the proposed project, conditions for the issuance of Contract documents, date of bidding, and information that would give the Contractor a general idea of the magnitude and
Bid Notice means any advertisement by which eligible providers are invited to submit written offers to provide works, services and supplies, or any combination thereof.
The necessary steps are: Bid Solicitation. Bid Submission. Bid Selection.
Sealed bids are also used to ensure a fair and open competition where the buying organization does not have the opportunity to influence the bidding process or steer the selection of a particular company by sharing competitive bid information during the evaluation process.
The requirements to be a responsible bidder vary from owner to owner. Generally, a responsible is a bidder that has the experience, personnel, equipment, and finances to perform the requirements of the contract.
Notice to Bidders means the public advertisement inviting bids for the work contemplated. Such advertisement indicates the location of the work to be done and/or the character of the material to be furnished and the time and place for opening of bids.
The bidding process is used to select a vendor for subcontracting a project, or for purchasing products and services that are required for a project. Bid records contain the specifications of the project or details of the products and services to be purchased.