What Is A Bidder?

Who sells things to the highest bidder?


Answer: someone who offers to pay a particular amount of money for something: In an auction, goods or property are sold to the highest bidder (= the person who offers the most money).

People who buy things..

What is the meaning of highest bidder?

someone who offers to pay a particular amount of money for something: In an auction, goods or property are sold to the highest bidder (= the person who offers the most money).

Pre-bid meetings are conducted by the owner to clarify any concerns the bidders may have with the solicitation documents, scope of work and other project details. Attendance is not mandatory, however it is highly-recommended for prospective bidders to attend.

What is a bid conference?

A bidder’s conference is a meeting that an agency will schedule upon releasing a new bid proposal. The bidder’s conference is designed to give interested and eligible vendors the chance to ask questions regarding the project. … Often times a bidders conference will be scheduled soon after the proposal is released.

What is involved in conducting procurements?

Conducting procurements is the process of gathering seller bid responses, selecting a seller source, and then awarding that source a contract to provide the needed human resources or material. The key benefit to this process is that it helps ensure stakeholders understand expectations from project management.

What are the types of bidding?

Bidding TypesCPC Bidding. Most advertisers choose CPC bidding, particularly for conversion based goals. … CPM Bidding. CPM bidding can be useful to advertisers who want to build brand awareness on Quora. … Conversion Optimized Bidding.

What is the difference between bidder and tenderer?

As nouns the difference between tenderer and bidder is that tenderer is one who tenders (a bid, a contract, etc) while bidder is someone who bids, eg at an auction.

What does beading mean?

1 : a beaded molding. 2 : material or a part or a piece consisting of a bead. 3 : an openwork trimming. 4 : beadwork.

What Does lowest responsible bidder mean?

Lowest Responsive and Responsible BidderLowest Responsive and Responsible Bidder: The bidder who fully complied with all of the bid requirements and whose past performance, reputation, and financial capability is deemed acceptable, and who has offered the most advantageous pricing or cost benefit, based on the criteria stipulated in the bid documents.

What happens in a pre bid meeting?

The objective of pre-bid meetings is to explain the details of the solicitation documents to interested bidders. Prospective bidders are permitted to request clarifications on the invitation for bids or request for proposals by a stipulated date, and the pre-bid meeting is held within that period.

What does pre bidding mean?

A pre-bid is the maximum bid placed on an item(s) at any time prior to the lot being offered for live bidding. … Your pre-bid could be the winning bid if no other bidder submits a higher bid during either the pre-bid phase or the live auction.

What is the bidder meaning?

A bidder is someone who offers to pay a certain amount of money for something that is being sold. If you sell something to the highest bidder, you sell it to the person who offers the most money for it. The sale will be made to the highest bidder subject to a reserve price being attained.

What is the purpose of a bidder conference?

A bidders’ conference is used to provide information to suppliers and to ensure that all suppliers receive the same information. A conference must be held only when such a meeting is required for suppliers to fully understand the proposed procurement.

What is the meaning of Meadows?

: land that is covered or mostly covered with grass wildflowers blooming in the meadow especially : a tract of moist low-lying usually level grassland.

Why is site visit important before bid?

1. A Pre-bid Site Visit provides potential bidders with an opportunity to view the project site and become familiar with existing conditions. Most often, bidders’ access to the site will be restricted to this specified time period to minimize facility disruptions.

Who is a bidder in procurement?

Public procurement implies a business transaction between two parties – a buyer and a supplier (bidder). Due to its nature this is usually a public-private deal in which the buyer is a public entity and the (winning) bidder is usually a privately owned company.

What is the difference between auction and tender?

Tenders are sealed bids that are submitted directly to the seller. … Auctions are a sale where equipment is awarded to the highest bidder. Buyers can submit bids up to the deadline of the auction.

What is ITT in construction?

An invitation to tender (ITT) is a formal invitation to make an offer for the supply of goods or services. It might be issued for a range of contracts, including: Equipment supply. Design by contractors. … Main construction contractors.