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Reject the bid. Explain the reason for the rejection, such as the estimated cost was too high or that another company had more experience with the particulars of the project. You may also say if there was something wrong with the bid, which can help the contractor to avoid making the same mistake in the future.
The Bidding capacity shall be worked out by the following formula:Bidding Capacity = A x N x 2 B Where,A = Maximum value of construction works executed in any one year during the last five consecutive years ending 31.03. 2018.
Notice to Bidders means the public advertisement inviting bids for the work contemplated. Such advertisement indicates the location of the work to be done and/or the character of the material to be furnished and the time and place for opening of bids.
With an invitation for bid (IFB), a comprehensive solicitation will describe the project in detail, including submission requirements, deadlines, project scope, duration, minimum qualifications, mandatory service standards, and required warranties.
The bidding process is used to select a vendor for subcontracting a project, or for purchasing products and services that are required for a project. Bid records contain the specifications of the project or details of the products and services to be purchased.
An INVITATION TO BID is the notice published by the Owner or the invitation issued to prospective bidders, giving information as to the nature of the proposed project, conditions for the issuance of Contract documents, date of bidding, and information that would give the Contractor a general idea of the magnitude and
Bidding Documents - includes the Invitation to Bid, Instructions to Bidders, Bid Form, Subcontractor List, sample bidding and contract forms, proposed Contract Documents as defined in the General Conditions and any Addenda issued prior to receipt of bids.
Bid Instructions, or Instructions to Bidders, is a document issued by the investment bank running a competitive auction process that contains all the requirements, expectations, procedures and other information deemed necessary to aid bidders in presenting their bids.
Bid Notice means any advertisement by which eligible providers are invited to submit written offers to provide works, services and supplies, or any combination thereof.