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Open Bid

   Also found in: Financial 0.01 sec.

An offer to perform a contract, generally of a construction nature, in which the bidder reserves the right to reduce his or her bid to compete with a lower bid.



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You can choose either an open bid where all qualified Elance professionals can bid or an invitation only bid where you can peruse portfolios and choose which providers you''d like to invite to bid on your project.
In the recent third round of the Beijing municipal bus National IV standard open bid program, despite intense competition, Yuchai was awarded the contract to install its diesel engines for all 866 buses.
RAYMOND RUSSELL, top Scot at the 98 Open, has consulted a sports shrink in a bid to keep his Millennium Open bid on course.
 
 
 
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