Open Bid

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Open Bid

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.

References in periodicals archive ?
District council millions worth 7 schemes auctioned on open bid: The district council soon after concluding local government elections called open bids for 17 developmental schemes worth more than 1o million.
Big names from the hospitality sector such as the Oberoi group, ITC, the Sahara Group and French hotel giant Accor have all expressed interest in the Mansingh Road property and the urban development ministry is believed to be backing the idea of open bids as well.
Van Metre Homes will begin accepting open bids for the purchase of the home on April 25th, with proceeds from the sale benefiting several local charities.
The HOA Board of Directors should start conducting open bids from several landscaping companies.