Open Bid


Also found in: Financial.

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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The ministry said the military's group accident insurance was awarded to Union Insurance Company in an open bid. The bidding process complied with the law, and Chinese-funded companies were excluded from participation, it added.
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.
M2 EQUITYBITES-February 5, 2013-Indian regulator greenlights Diageo's open bid for USL stake(C)2013 M2 COMMUNICATIONS http://www.m2.com
Summary: New contracts to produce oil and gas in Libya won't be awarded as political favors, but will be given to companies on merit after an open bid process, the U.K.-based coordinator and spokesman for the rebel National Transitional Council said Thursday.
Announcing an open bid for the programme, the UIM has reiterated that the new strategic approach is required to develop and implement such a programme to make a positive contribution to the sport with the future in mind.
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.
RONNIEO'SULLIVAN launched his Welsh Open bid with a 5-3 win over Judd Trump.
(ACC) executives Tom Armstrong and Charlie Armour recently shared their experience with six such auctions, three of which put ACC's current jobs on open bid. "We needed to see where it was going," said Armour, noting that a handful of customers have already embraced the auction concept.
RAYMOND RUSSELL, top Scot at the 98 Open, has consulted a sports shrink in a bid to keep his Millennium Open bid on course.
Sandy Lyle last night chucked his US Open bid when he pulled out of the qualifying tourney's second round in Columbus.
At an auction at Manhattan's Bankruptcy Court, Forest City Ratner Companies (FCRC), the developer of the $ 1 - billion commercial, academic and high technology office complex in the heart of Downtown Brooklyn known as MetroTech Center, secured the rights in an open bid to purchase the former R.H.
He said this while talking to media on the occasion of open bid in Sheikhupura.