bid

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bid

n. an offer to purchase with a specific price stated. It includes offers during an auction in which people compete by raising the bid until there is no more bidding, or contractors offer to contract to build a project or sell goods or services at a given price, with usually the lowest bidder getting the job. (See: contract)

bid

noun advance, approach, estimate, licitatio, offer, offered price, overture, presentation, price, proffer, proposal, proposition, quotation, quoted price, submission, tender
Associated concepts: auction sale, bid bond, bid in, bid off, bidder, competitive bidding, proposal, upset bid, with reserve, without reserve
See also: appeal, application, assign, call, command, detail, dictate, direct, endeavor, enforce, enjoin, impose, insist, instruct, invitation, invoke, mandate, offer, order, overture, petition, pray, prescribe, proffer, propose, proposition, request, summon, summons, writ

BID, contracts. A bid is an offer to pay a specified price for an article about to be sold at auction. The bidder has a right to withdraw his bid at any time before it is accepted, which acceptance is generally manifested by knocking down the hammer. 3 T. R. 148; Hardin's Rep. 181; Sugd. Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn. St. R. 486; 8, Id. 408. Vide 0@ffer.

References in periodicals archive ?
Without such information, the government evaluation must rely heavily on factors (primarily technical and cost) in the contractor's proposal that describe a hypothetical situation: how the contractor plans to perform on a contract.
Upon receipt of the contractor's proposal, the program's technical evaluator performs a preliminary review of the proposal to ensure at least the following recommended compliances:
By keeping a strict adherence to organization of the technical assessment consistent with the contractor's proposal, the technical evaluation will assist the price analyst and negotiator in establishing a reasonable position, based on factual, measurable, and easily recognizable differences in the contractor's proposal and the technical assessment.
The Government's OMB A-76 regulations require a contractor's proposal to be at least 10% more efficient than the Government proposal before an award goes to industry.
From the government's perspective, controlling and disseminating information is the single most important way to ensure that the contractor's proposal is comprehensively reviewed and that the review results are available to the contracting officer.
In order to minimize concerns of whether the "adequate security" requirement is consistent with the government's expectations, it is important to ensure that the level of compliance is accurately addressed in the contractor's proposals and contracts for at least two reasons.
For example under a design and build route you may decide to produce only outline designs and allow the contractor to produce the detailed design within its contractor's proposals.
DCMA should know more about the contractor's proposals and business systems than the contractor.
Moreover, the Air Force did not adequately consider Defense Contract Audit Agency (DCAA) and DCMA analyses of these purchases, which would have allowed the Air Force to better assess the contractor's proposals.

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