Seller’s Viewpoint on Competitive Bidding Seller’s bidding process The practice helps reduce the duration of the bidding process since the buyer already possesses background information on all the vendors and will spend less time in choosing the winning bid. This practice often occurs in already established businesses that published RFPs in previous periods and have developed a list of vendors that delivered according to their promise. Sometimes, a company may decide not to publish the RFP, but invite a handful of trusted vendors that it has already worked with before. In a well-managed competitive bidding process, all interested vendors, including the losers, should be informed about the outcome. The buyer will then choose the winner and invite the winning vendor to work on the project. The evaluation process may also involve conducting face-to-face interviews with the bidders to determine the most qualified one. Evaluating the bidsĪfter the company receives the proposals, it must evaluate each bid depending on the information provided by each vendor. Ideally, when bidding for the order, vendors must show their ability to execute the order by detailing their history of achievements, the cost of delivering the products or services, and the timelines of making deliveries.įor specialized services such as the purchase and installation of a dialysis machine in a hospital, the buyer would want to award the tender to a vendor who is specialized in the field and who has already made similar installations in other hospitals. The buyer or recipient of bids must prepare a complete RFP and publish it, so that it reaches qualified vendors. Buyer’s Viewpoint on Competitive Bidding Identifying the most qualified vendorįrom the buyer’s side, competitive bidding serves to identify the most qualified vendors of particular goods and services. The bidding process is aimed at increasing the competitiveness of the bids, avoiding preferential treatments, and enabling the company to get the best offer.įor a vendor to be selected to fulfill the supply of products and/or services, they must demonstrate their capability, history, and readiness to execute the project. In addition to the procurement of goods and services, competitive bids are also used in the sale of companies where an investment banker can solicit letters of intent from potential buyers. The selection can be done in an open or closed bidding process. After the expiry of the bid submission period, the recipient of the bids then selects the bidder with the lowest or best terms for the RFP. The bids are sealed to increase the confidentiality of each vendor’s proposal.

Interested vendors send their bids for consideration within a specified period. The agency or company must issue a form of solicitation, commonly referred to as a Request for Proposal (RFP), which details the products or services that they require vendors to show interest in supplying through a competitive bidding process. It is used by companies and government agencies that require the delivery of products or services on a large-scale basis. NineLife reserves the right to alter and enforce this Return and Refund Policy at any time without having to serve a prior notice to users.Competitive bidding is a form of solicitation that is used in the procurement of goods and services.If your refund is approved, then it will automatically be credited to the original method of payment, within 7-10 days.The refund will not include the import duties or the cost of delivery or return postage.Due to the nature of the products that we sell, we will not be able to replace or refund unwanted items if they have been opened or any seals are broken.If the order has already been dispatched, cancellation fees might be charged. Orders can be cancelled before dispatch.All packaging material must be undamaged and unused with the price tags intact. To be eligible for return, products must be in the exact condition you received them in.To return or exchange any items, please email us clearly mentioning your order number and our customer support team will guide you on the process.Return or exchange requests can be made within 14 days of the delivery date.

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