Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

competitive bid

Read a random definition: beneficium competentiae

A quick definition of competitive bid:

A competitive bid is an offer made by someone who wants to buy something or provide a service. It is usually made in response to a public notice of a sale or purchase. The person making the bid offers a specific price for the item or service, and it may be open to negotiation or remain firm. There are different types of bids, such as sealed bids that are not revealed until all bids are opened, and open bids that can be changed to compete with other bids. In the world of securities, bid and asked refer to the buying and selling prices of stocks.

A more thorough explanation:

A competitive bid is an offer made by a buyer to pay a specific price for something that may or may not be for sale. This type of bid is usually submitted in response to a public notice of an intended sale or purchase.

For example, when a government agency wants to purchase goods or services, they may issue a request for proposals (RFP) and invite vendors to submit competitive bids. The vendor with the most competitive bid, based on factors such as price, quality, and delivery time, is usually awarded the contract.

Another example of a competitive bid is when a company wants to acquire another company. The acquiring company may make a takeover bid, which is a competitive offer to purchase the target company's shares at a premium price.

Overall, a competitive bid is a way for buyers to get the best value for their money by encouraging sellers to offer their best price and terms.

competitive advertising | competitive civil-service examination

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
LSD+ is ad-free, with DMs, discounts, case briefs & more.