Bid & Bid Types

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 co...