Government bidding has been transpiring for many years and yet hardly anyone seems to know exactly what it is. So what exactly is it and how does it affect life as we know it? That’s what we’ll be discussing.
What is Government Bidding?
Government bidding is how they contract competitively when they have their work cut out for them and need to hire the best in the business.
How Does the Government Bidding Process Work?
So how exactly does the process work? Well, bidders are obligated to obtain a bid security in order to ensure their cooperation in the contracting process. This can include anything from a cash or check to a bid bond.
It doesn’t really matter what kind of payment you use as long as it’s worth at least 10% of your bid. Without it, they may not accept your bid so it’s paramount to have it.
Government Bid Awards
There are sealed bids which aren’t opened until such time as the auction has begun. At such time, they will announce the winner and award the contract to the most responsible company who bid the lowest. Another possibility is the general public may decide there is no need for such a project after all and it ends up being scrapped.
Invitation for Bids
If you plan to participate, you will require an invitation for bids, a packet which contains all the information you need to know to compete in this bidding war.
If you want to know more about the process, you can always consult with our Coachella Valley public law attorney for more information.
PUBLIC AGENCY AND MUNICIPAL LAW ATTORNEYS OF SBEMP
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DISCLAIMER: This blog post does not constitute legal advice, and no attorney-client relationship is formed by reading it. This blog post may be considered ATTORNEY ADVERTISING in some states. Prior results do not guarantee a similar outcome. Additional facts or future developments may affect subjects contained within this blog post. Before acting or relying upon any information within this newsletter, seek the advice of an attorney.
