Competitive Sealed Bids definition

Competitive Sealed Bids means an advertised procurement method in which the award is made to the lowest responsive, responsible bidder. The use of competitive sealed bids is a method of contracting for goods and nonprofessional services. In open competitive bidding, the sealed bids are opened either virtually or in full view of all who may wish to witness the bid opening. Competitive bidding aims at obtaining goods and services at the lowest prices by stimulating competition and by preventing favoritism.

Competitive Sealed Bids generally means both sealed bids and sealed proposals. Sealed proposals should be used if the criteria for vendor selection can be clearly defined, the selection process will benefit the municipality, and the process is approved by the municipality’s board of commissioners. See “Sealed Bids or Proposals” (Exhibit 30).

Competitive Sealed Bids generally means both sealed bids and sealed proposals.

Examples of Competitive Sealed Bids in a sentence

• The ITB provides the information necessary to prepare and submit Competitive Sealed Bids for consideration and ranking by the Owner.

• Notices of solicitations are also posted on our website https://www.pgcps.org/purchasing/bids.aspx in accordance with State Finance and Procurement Article 13-103 Competitive Sealed Bids, Article 13-104 Competitive Sealed Proposals, and Article 13-107 Sole Source Procurements.

• A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is indication that the unit may be impaired.

• The Bidding Requirements consist of the Advertisement, the Request for Competitive Sealed Bids, Bid Bond, and the Bid Form.

• The State of Hawaii’s (State) Contract for Goods and Services Based on Competitive Sealed Bids AG-003 Rev.

More Definitions of Competitive Sealed Bids

Competitive Sealed Bids means the procurement method whereby the Coastal Bend Council of Governments drafts the specifications, schedule and other conditions for award and sends the bid package to interested bidders and/or publishes an announcement one the CBCOG’s website and in local periodicals. To be considered, bids must conform to the Invitation for Bid (IFB). Bid opening is a formal, public procedure where the award is made to the lowest responsible, responsive bidder. Award is not generally made at bid openings; rather the prices are read publicly and, after evaluation, the award is made.

Competitive Sealed Bids means a selection process whereby prospective Contractors submit sealed bids and the Contract is awarded to the lowest Responsive and Responsible Bidder.

Competitive Sealed Bids means a bid(s) submitted in response to an Invitation to Bid issued under ORS 279B.055, or if for a public improvement issued under ORS Chapter 279C.

Competitive Sealed Bids. Herein referred to as an Invitation For Bid (IFB). Must be used if the expected contract will be over $150,000. A formal method of procurement whereby sealed bids are publicly solicited and a firm fixed-price contract is awarded to the responsible bidder whose bid, conforming to all the material terms and conditions of the invitation for bid, is the lowest, responsive bid.

Competitive Sealed Bids means sealed bids whereby the award will be based upon the Contractor that submitted the lowest-price bid.

Competitive Sealed Bids means the solicitation procedure commenced by the issue of an invitation to bid and in response to which a bidder submits a bid;

Competitive Sealed Bids means a formal method of source selection for a procurement as stated in the City Code in which an award is made to the lowest responsive and responsible bidder whose bid complies with specifications contained in the ITB.