Potential (28 July 2011)
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Construction Project management vocabulary B
Bid Shopping - Negotiations to obtain lower costs and prices both prior to submitting proposals and after signing contracts. Bid Tabulation - A summary sheet listing all bid prices. Bid Time - The time set by the owner, architect or engineer for receiving bids. Bidding Documents - The published advertisement or written invitation to bid , instructions to bidders, the bid form and the proposed contract documents including any acknowledged addenda issued prior to receipt of bids. Bidding Period - The calendar period allowed from issuance of bidding requirements and contract documents to the prescribed bid date/time. Bidding Requirements - The written minimum acceptable requirements set forth by the owner to the contractor during bidding process. The owner usually reserves the right to reject a bid if the Bidding Requirements are not met. bolster Bond - (see Bid Bond, Contract Bond, Contract Payment Bond, Contract Performance Bond, Labor and Material Payment Bond, Performan...
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