Rejected bid

Rejected bid

Response to an invitation to bid (ITB) that is unacceptable, because (1) another bid has been chosen, (2) bid fails to fall within the established competitive range, (3) absence of competitive bids invalidates the bidding exercise, (4) Invitation to bid (ITB) is readvertised, (5) irresponsibility (see responsible bidder) of the bidder voids it, or (6) collusion among bidders (see bid rigging) or some other fraud is discovered.

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Part of Speech: verb
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Industry/Domain: Law
Category: Contracts
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Related terms

rejected bid

Law; Contracts

Response to an invitation to bid (ITB) that is unacceptable, because (1) another bid has been chosen, (2) bid fails to fall within the established competitive range, (3) absence ...

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An offer to buy a specific quantity of a commodity at a given price, opposite of offer.

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A proposal to buy a commodity/derivative at a specified price.

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Earth science; Mapping science

(1) An offer by an intending purchaser to pay a designated price for property which is about to be sold at auction. (2) An offer to perform a contract for work and labor or to ...

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Translation & localization; Internationalization (I18N); Localization (L10N); Terminology management

The translation of a bid is a complex process and must be managed as a multipart translation. Bids are typically made up of a technical bid (which requires a technical ...

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Construction; Flooring

The offer or proposal of any contractor to the architect, owner or general contractor to furnish material and/or labor for one or more parts of a building.