What Is Competitive Bidding?

Competitive bidding refers to a bidder inviting several or even dozens of bidders to participate in the bidding. Through the competition of the majority of bidders, the bidder is selected to be the most beneficial to the bidder, and it is a redemption method.

Competitive bidding

Right!
Competitive bidding means that the bidder invites several or even dozens of bidders to participate in the bidding, and through the competition of the majority of bidders, selects the bidder that is most beneficial to the bidder to reach a transaction. It belongs to the redemption
There are two approaches to international competitive bidding:
1.
(1) Release of pre-qualification notice [1]
(2) Preparation of tender documents
(3) Release of tender notice
(4) Tender documents for sale

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