Legal Definitions - BW

BW stands for BID WANTED.

This term is used to indicate that offers or proposals are being solicited for a particular good, service, or project. It signifies an open invitation for interested parties to submit their prices, terms, or plans in response to a specific request. Essentially, it means that the party issuing the "BID WANTED" notice is looking to receive competitive offers before making a decision.

• Example 1: Government Procurement

  A county government decides to build a new community recreation center. To ensure transparency and obtain the best value for public funds, they publish an official notice stating, "BW for Architectural Design and Construction Services – New Recreation Center." This means the county is inviting various architectural firms and construction companies to submit their detailed proposals, design concepts, and cost estimates for the project. The county will then review these competitive bids to select the most qualified and cost-effective team.

  This example illustrates BID WANTED because the county is actively seeking multiple offers from different companies to compare and choose the best option for their project.

• Example 2: Asset Liquidation

  A manufacturing company is closing one of its older facilities and needs to sell off a large quantity of specialized machinery and equipment. Instead of setting fixed prices, the company issues a "BW" announcement to industrial equipment dealers and other manufacturers. This indicates they are open to receiving offers from anyone interested in purchasing the machinery, allowing them to compare different bids and potentially achieve a better overall sale price for their assets.

  Here, BID WANTED signifies that the company is inviting prospective buyers to submit their financial offers for the equipment, rather than selling at a predetermined price.

• Example 3: Service Contract

  A large university needs a new catering service provider for its campus events and dining halls. Instead of simply renewing a contract or choosing a single vendor, the university's procurement office sends out a "BW" request for proposals to several reputable catering companies. This request outlines the university's specific needs, service expectations, and budgetary considerations, prompting each company to submit a comprehensive bid detailing their proposed menus, staffing plans, and pricing structure.

  This scenario demonstrates BID WANTED as the university is actively soliciting competitive proposals from multiple service providers to ensure they secure the best quality and value for their catering needs.