sealed-bid tender

sealed-bid tender
sealed-bid tender UK US noun [C]
COMMERCE a system in which companies offer to do a job for a particular price without knowing what offers have been made by other companies. The job is usually given to the company making the lowest offer, after all the offers have been opened together: »

As an independent organization working in your best interest, we will prepare a sealed-bid tender on your behalf.

»

A sealed-bid tender opening procedure will need to be established.


Financial and business terms. 2012.

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  • sealed bid tender — ➔ tender1 …   Financial and business terms

  • tender — an offer in writing to carry out work, which has been specified by another person. The offer quotes a fixed price, which will be charged for doing the work. Glossary of Business Terms To offer for delivery against futures. Bloomberg Financial… …   Financial and business terms

  • Tender — To offer for delivery against futures. The New York Times Financial Glossary * * * ▪ I. tender tender 2 verb 1. [intransitive] COMMERCE to make a formal offer to do a job or provide goods or services at a particular price: tender for • The… …   Financial and business terms

  • bid — 1 / bid/ vb bid, bid·ding vt: to offer (a price) for payment or acceptance vi: to make a bid: state what one will pay or take in payment a contractor bidding for a job bid·der n bid 2 …   Law dictionary

  • tenderer — tender ten‧der 1 [ˈtendə ǁ ər] noun [countable] 1. COMMERCE an offer to do a job or provide goods or services for a particular price, usually as part of a competition between several companies for the same work: • Their bid was £150,000 more than …   Financial and business terms

  • Private electronic market — A private electronic market (PEM) utilises the internet to connect a limited number or pre qualified buyers or sellers in one market. PEMs are a hybrid between perfectly open markets (e.g. exchanges where there is no pre existing relationship… …   Wikipedia

  • auction — A common method of issuing gilts. Similar to a tender offer. In an auction, investors apply to buy the new gilts being issued, specifying the amount they wish to purchase and the price they are prepared to pay. The new gilts will be issued to… …   Financial and business terms

  • Monte Ne — U.S. National Register of Historic Places …   Wikipedia

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  • Dutch auction — 1957 in Germany to sell fruits A Dutch auction is a type of auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer s price, or a predetermined reserve price (the… …   Wikipedia

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