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Pre-bid shopping

Negotiations by a buyer (a prime contractor) with sellers (trade contractors), to obtain lower prices for goods and services that are to be consumed in the performance of a contract for which the prime contractor is yet to submit a bid.

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  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Law
  • Category: Contracts
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  • Acronym-Abbreviation:
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