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Bid & Bid Types
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3.1 BIDS & TYPES CRTICAL RENEW OF THE LRTERATIRE (FEAT WHAT IS BID? Bid is a statement of price at which one offers to supply good or services. Based on price amounts quoted by the bidding party the most responsive contractor is selected. How ever there are other factors of qualification to be considered. Bidding is an important step in construction both for contractor and client to understand cost of the project for allocating budgets. The project size and complexity related to the managerial and technical resources in terms of both numbers quality and relevant experienced which the client can make available the sources of the fund or/and the owner of the project will have the major impact on bidding. Types Of Bids. Bidding system used in different countries and organization could be different. How ever the most common types are discussed below. 1. Open competitive Method This method is used in a major proportion of construction projects where by contractors obtain the work in competition with other contractors. In order to ensure fairness, transparency and equity to all bidders in the bid evaluation process, all relevant information as regard to the required scope of works , the closing dates and related procedures are made available to prospective bidders. This is normally announced through a public media and prospective bidders are invited to purchase (usually for a fixed financial sum) the bid documents. Open competitive bidding is characterized by reading of bid costs during bid opening filled by contractors publicly so that bargaining or negotiation will be avoided. Some of advantages of Open competitive bidding are - Provides high degree of transparency - Procedure in selecting a contractor is simple - Because of mass computation project cost may be lower.
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