Definition : Call for bids

A ‘call for bids’ is a formal request for proposals or offers from potential suppliers or contractors to provide goods or services for a specific project or contract. This process is typically used by organizations or governments to ensure fair competition and transparency in the selection of the best bid. The call for bids outlines the requirements, specifications, and timeline for the project, and interested parties must submit their bids by a specified deadline. The bids are then evaluated based on various criteria, such as cost, quality, and experience, to determine the most suitable candidate for the project. The term ‘call for bids’ is often used interchangeably with ‘invitation to bid’ or ‘tender,’ and it plays a crucial role in the procurement process, promoting efficiency and accountability in the selection of vendors or contractors.

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