competing bids

noun

  • Contract Law
  • Public procurement

Definitions of competing bids

  • rival offers

    The contract was awarded (= given) after a full and thorough evaluation of competing bids.

Phrase Bank for competing bids

  • Why had the city had not solicited (=requested) competing bids?

  • Several companies have offered competing bids.

  • I was advised to get several estimates or competing bids.

  • This year’s bid process that involves fewer than three competing bids.

Additional Notes for competing bids

  • Competitive bid: a public offering in which underwriters(= usually investment banks) submit sealed bids to the issuer (=usually a corporations, investment trust and government entities) and the issuer chooses the underwriter with the best terms.