Safely back on campus. Learn More.

Glossary of Terms and Definitions

Glossary Term: Competitive Bid Process (relating to Purchasing Goods and Services)

Definition:

The process by which the University invites bids from competing Proponents or contractors, and selects their submitted bids. Submissions are normally sealed. Selection occurs through either an open bidding process (bids opened in view of the bidders) or a closed bidding process (bids opened in a closed session). The process is designed to increase the competitiveness of pricing and minimize any potential preferential treatment.
Return to glossary terms