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2. Technical standard - Wikipedia

   en.wikipedia.org/wiki/Technical_standard

   A standard specification is an explicit set of requirements for an item, material, component, system or service. It is often used to formalize the technical aspects of a procurement agreement or contract. [2] For example, there may be a specification for a turbine blade for a jet engine that defines the exact material and performance requirements.

3. Project delivery method - Wikipedia

   en.wikipedia.org/wiki/Project_delivery_method

   In Design-Bid-Build, owner develops contract documents with an architect or an engineer consisting of a set of blueprints and a detailed specification. Bids are solicited from contractors based on these documents; a contract is then awarded to the lowest responsive and responsible bidder. This is the traditional model for public sector ...

4. Bid and proposal - Wikipedia

   en.wikipedia.org/wiki/Bid_and_proposal

   The development of a bid and proposal takes place early in the procurement process, and the resulting proposal will be subject to review by the purchaser and negotiation between the two parties. Developing a bid and proposal takes place before a contract vehicle is in place, meaning that firms undertake the costly tasks of proposal-writing and ...

5. Design–bid–build - Wikipedia

   en.wikipedia.org/wiki/Design–bid–build

   Design–bid–build (or design/bid/build, and abbreviated D–B–B or D/B/B accordingly), also known as Design–tender (or "design/tender"), traditional method, or hardbid, is a project delivery method in which the agency or owner contracts with separate entities for the design and construction of a project.

6. Construction bidding - Wikipedia

   en.wikipedia.org/wiki/Construction_bidding

   Depending upon the language in the bid proposal, a subcontracting construction company could make its bid final, and, if accepted, a legally enforceable contract is created. In these circumstances, upon determination by the general contractor that a bid is the lowest offer, it can accept the bid and, upon acceptance, a subcontractor cannot ...

7. Invitation to tender - Wikipedia

   en.wikipedia.org/wiki/Invitation_to_tender

   A tender announcement from the Indonesian Ministry of Finance. An invitation to tender (ITT, also known as a call for bids [1] or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been ...

8. Mortgage and refinance rates for Dec. 18, 2024: Average ... - AOL

   www.aol.com/finance/mortgage-and-refinance-rates...

   Average mortgage rates edge higher for 30-year and 15-year terms as of Wednesday, December 18, 2024, as the Federal Reserve is set to conclude its final policy session of the year.

9. Swiss challenge (procurement) - Wikipedia

   en.wikipedia.org/wiki/Swiss_challenge_(procurement)

   A Swiss challenge is a form of public procurement operated in some jurisdictions, which requires a public authority (usually an agency of government) which has received an unsolicited bid for a public project (such as a port, road or railway), or for services to be provided to government, to publish the bid and invite third parties to match or better it.