sealed-bid
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sealed bid — ➔ bid1 * * * sealed bid UK US noun [C] ► an offer to buy something at a particular price that is given to the seller in a closed envelope so that it remains secret until all offers are opened together: »a sealed bid procedure/process »The couple… … Financial and business terms
sealed bid — n. A bid for a job submitted by a contractor in a sealed envelope; all sealed bids are opened at the same time and the job is awarded to the lowest bidder. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy… … Law dictionary
sealed bid — sealed bid, a confidential bid, as for a contract, usually submitted in a sealed envelope … Useful english dictionary
sealed-bid auction — ➔ auction1 * * * sealed bid auction UK US noun [C] ► COMMERCE an auction in which buyers are given just one chance to make a secret offer, without knowing the amount of other offers: »The price paid was more than the market was expecting and… … Financial and business terms
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… … Financial and business terms
sealed bid tender — ➔ tender1 … Financial and business terms
Sealed-Bid Auction — A type of auction process in which all bidders simultaneously submit sealed bids to the auctioneer, so that no bidder knows how much the other auction participants have bid. The highest bidder is usually declared the winner of the bidding process … Investment dictionary
sealed bid — noun 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 … Wiktionary
sealed bid price — /si:ld bɪd praɪs/ noun a price of goods or a service for which suppliers are invited to submit bids. The bids are considered together by the buyer who then chooses the lowest bidder … Marketing dictionary in english
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
