Dictionary of Procurement Terms

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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Search Results: 1-1 of 1 result for “Bid Analysis”

  • Bid Analysis

    1. A comprehensive review of all bid prices to determine the degree of competition from the lowest to highest bids, including reasonableness of the low bid in comparison with the entity's estimate. 2. The presence of mathematical or substantive errors. 3. The presence of evidence regarding bid rigging. See also: Bid Tabulation.

    See Also: Bid Tabulation
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