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LSDefine

Simple English definitions for legal terms

sealed bid

Read a random definition: authoritative precedent

A quick definition of sealed bid:

A sealed bid is when someone writes down how much they are willing to pay for something and puts it in an envelope. The bids are not opened until everyone has submitted their offer. This is often used in auctions or when companies are looking for someone to do a job for them. It helps to keep the bidding fair and private.

A more thorough explanation:

A sealed bid is a type of bid where the bidder submits their offer in a sealed envelope or container. The bids are not disclosed until all submitted bids are opened and considered simultaneously. This type of bid is commonly used in auctions or when a company is looking for a contractor to perform work or supply goods.

  • At an auction, bidders may submit sealed bids for a piece of artwork. The highest bidder will win the auction.
  • A company may request sealed bids from contractors for a construction project. The company will review all the bids and select the contractor with the best offer.

These examples illustrate how sealed bids work. Bidders submit their offers in a sealed envelope or container, and the bids are not disclosed until all bids are opened and considered simultaneously. This ensures that all bidders have an equal chance of winning the auction or contract.

sealed and delivered | sealed-container rule

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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