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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
MULTAN -- Water and Sanitation Agency (WASA) would open bids on Monday for installation of water metres at five big mineral and beverage factories situated in the city.
Government information reveals that the Ministry of National Defense (MOND) has awarded the military's group accident insurance coverage to Union Insurance Company since 2009 through open bids, totaling more than NT$200 million (US$6.3 million) annually.
RAWALPINDI -- Pakistan Railways, Rawalpindi Division will open bids to auction its 73 advertising sites at different locations on Jan 31 (Wednesday).
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.