Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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  • Bid Rigging

    The agreement among potential competitors to manipulate the competitive bidding process, for example, by agreeing not to bid, to bid a specific price, to rotate bidding, or to give kickbacks to purchasers.

  • Bid Sample

    A sample to be furnished by a bidder to show the characteristics of a product offered in a bid. Bid samples are used only to determine the responsiveness of the bid. (Nash et al., 2007)

  • Bid Security

    A bond or deposit which guarantees that the bidder, if awarded the contract, will honor their bid as submitted.

  • Bid Set

    CANADIAN A package of data that identifies the article to be purchased, the quantity, and delivery, and includes designs, specifications, quality requirements, and general conditions that govern the Contract resulting from Acceptance of a Bid.

  • Bid Tabulation

    A summary document of all responsive bidders with their total extended prices, which the agency has calculated and verified to ensure accuracy. It may also include unit prices for each item, total prices, delivery terms and conditions, whether each bidder has met the requirements for licenses, bonds, evidence of insurance, or other information deemed appropriate by the contracting officer.

    See Also: Bid Analysis, Bid Evaluation

  • Bidder

    A person or entity who submits a bid in response to an Invitation for Bids (IFB), Invitation to Tender (ITT), or other formal solicitation type where price is the primary factor in the evaluation process for award determination.

    See Also: Offeror, Proposer, Responder

  • Bidders Conference

    A meeting convened to discuss technical, operational, and performance specifications, and/or the full extent of financial, security, and other contractual obligations related to a bid solicitation with potential bidders; convened before the bid closes.

    See Also: Pre-Bid/ Pre-Proposal Conference (Meeting), Pre-Solicitation Conference

  • Bidders List

    A listing of names and addresses of suppliers from whom bids, proposals, or quotations can be solicited. The list is generally retained in a retrievable database.

    See Also: Source List

  • Bilateral Modification (of a Contract)

    Requires the written approval of both parties to a contract in signatory form. Bilateral modification is often related to some alteration of one or more substantive terms of the contract.

    See Also: Unilateral Modification (of a Contract)

  • Bilateral Monopoly

    A market with only one buyer and one seller. (Schiller, 2000)

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