Define: Open Bidding
Open Bidding means a method in which all interested parties are invited to submit a bid for goods, services, or works under equal conditions.
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Open Bidding means a method in which all interested parties are invited to submit a bid for goods, services, or works under equal conditions.
Relevant Circumstances
- When goods, services or works are required by an organization
- When an organization wants to select the most competitive bid