An offering procedure in which underwriters submit sealed bids to the issuer...
A mechanism to select a lead investment bank in which investment banks submit a bid representing their compensation. The issuing firm solicits bids on the underwriting and chooses the underwriter who offers the most favorable terms.
The effort of two or more vendors acting independently to secure the business of the University by offering the most favorable terms (price, quality and service).
Bidding which is done to ascertain the best bid for work to be done.
Three (3) bids (two when approved by the Director, PSSM) obtained for a specific purchase, are required when a purchase is $2,500 or greater and a preferred vendor is not used. The bids (quotes) should contain price, quantity, description and the supplier's terms and conditions (if any). Supporting documentation of price/cost analysis must be attached to a Purchasing Checklist and Bid Summary Form and forwarded to PSSM before the P.O. can be approved. Purchasing Checklist and Bid Summary form.
A bid for a stock at a price stated by a bidder in an auction.
A sale of municipal securities by an issuer in which the underwriters or syndicates of underwriters submit sealed bids to purchase the securities. This is contrasted with a negotiated underwriting.
A process used to have more than one vendor provide a price for the same item. The proven best technique to control or reduce the price paid for goods and services.
A competitive bid is one in which the bidder, at a U.S. Treasury auction, specifies the discount rate or yield they wish to receive. Awards to a single customer may not exceed 35 percent of the total offering.
Price and terms submitted in a sealed bid to an issuer by an underwriter. The issuer will award the contract to the underwriting syndicate who bids the best price or most advantageous terms. The competitive bid process is mostly used by municipalities, utilities, and railroads. See: Issuer; Underwrite
