English - Turkish
Definition of sealed-bid in English Turkish dictionary
- mühürlü teklifi
English - English
Definition of sealed-bid in English English dictionary
- A cost estimate, or a proposal to buy something, the value of which is kept secret from competitors until all such bids have been made
- A method of sale utilized where confidential bids are submitted to be opened at a predetermined place and time Not a true auction in that it does not allow for reaction from the competitive market place
- Sealed bid sales entail public notice that bids would be accepted for property by a specified date and time in a specified place Customers are allowed to modify or withdraw their bid up until the time specified place Customers are allowed to modify or withdraw their bid up until the time specified for bid opening Award is made to the highest responsible responsive bidder Sealed Bid sales are used for one-time, term, or minimum-maximum competitive type sales
- A bid submitted in a sealed envelope to prevent dissemination of its contents before the deadline for the submission of all bids; usually required by law or rule on major procurements to enhance fair competition Facsimile submission in response to an invitation for bid will meet the criterion of "sealed" in a legal sense if the transmission is secured by Purchasing/DOA or Purchasing/DLI
- A private bid by a prospective supplier