1 / 5

What is Competitive Biding? Why It is Important?

Basic Benefits of Competitive bids among potential suppliers is supposed to reduce costs and minimize collusion. However, new research demonstrates that such benefits of increasing competition are smaller when a buyer has the opportunity to negotiate contract terms with suppliers.

stategovtcontracts
Download Presentation

What is Competitive Biding? Why It is Important?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. State & Local Government Contract Specialists  Importance & Benefits of Competitive Bidding!

  2. Cost is the deciding factor in paying compensation for most public works projects. The Design-Bid-Build method is a popular project delivery method. General contractors or Government contractscompete on the project after the designs and specifications have already been chosen and completed by an architect.

  3. Companies can manage the audit process's expenses by choosing audit firms via competitive bidding. In general, financial institutions quote an initial number, which could change if the auditors later find financial problems that require further examination.

  4. There are a variety of public construction procurement laws and statutes. This can vary significantly among organizations, so it is crucial to understand which law applies and review all the bidding criteria carefully when understanding them.

  5. Contact us: (916) 788-0800 Visit us: https://www.stategovcontracts.com/ Address: 8370 Dover Dr, Granite Bay, CA 95746 Email Id: mgorsen@stategovcontracts.com

More Related