Dictionary of Procurement Terms

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  • Competitive Bid Solicitation

    CANADA Solicitation of two or more qualified sources by invitation or public notice for the same requirements.

  • Competitive Bidding

    The process of inviting and obtaining bids from competing suppliers, by which an award is made to the lowest responsive bid from a responsible bidder meeting written specifications. The process provides potential bidders with a reasonable opportunity to win that contract.

  • Competitive Contract

    CANADA A contract where the process used for the solicitation of bids assures that a reasonable and representative number of suppliers are given an opportunity to bid.

  • Competitive Intelligence (CI)

    CANADIAN Involves gathering and analyzing information about customers, competitors, and the marketplace to support successful business decisions.

  • Competitive Market

    A particular market in which no buyer or seller has an advantage or possesses market power over a product or service. (Schiller, 2000)

  • Competitive Negotiations

    A procurement method for obtaining goods, services, and construction in which discussion and negotiations may be conducted with responsible proposers who submit responsive proposals. The process concludes with the award of a contract to the proposer who offers best value.

    See Also: Competitive Sealed Proposals

  • Competitive Range

    That group of proposals, as determined during the evaluation process for competitive negotiation, that includes only those proposers considered to have a reasonable chance of being selected for award and who are, therefore, chosen for additional discussions and negotiations. Proposals not in the competitive range are given no further consideration.

  • Competitive Re-engineering

    An outsourcing issue that allows the employees of a public agency the opportunity to redesign their work process to achieve efficiency and cost savings. This may be done prior to subjecting the targeted work function to competition against private contractors. (Business, 2002)

  • Competitive Sealed Bidding

    Method for acquiring goods, services, and construction for public use in which award is made to the lowest responsive bid and responsible bidder, based solely on the response to the criteria set forth in the Invitation for Bids (IFB); does not include discussions or negotiations with bidders.

    See Also: Formal Bid

  • Competitive Sealed Proposals


    See Also: Request for Proposals (RFP), Invitation for Bids (IFB)

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