The word ‘bid’ is used generically to describe any proposals and may be used both to describe the buyer’s issue of the ‘bid documents’ to potential bidders and, the actual submission of bids by the respondents. The term encompasses quotes, proposals, tenders and auction offers. See also Offer.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
