Blind bidding
A bidding process in which amounts are hidden from view until the due date in order to protect against bid biases from affecting the decision process.
Blind bidding ensures fairness and competitiveness by preventing bidders from knowing each other’s proposals. It encourages honest pricing and can lead to more competitive offers.
Used in a sentence
In blind bidding, contractors submit proposals without knowing their competitors' bids.
Synonyms/variation
Surety
Security
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