Competitive bid

A market approach where multiple suppliers and contractors are invited to submit sealed bids to deliver goods or services.

Market approach

The way in which a work package is to be put out to the market. Market approaches include: Competitive bid, Sole-source, and Call-off.

Pre-award

The period from when Procurement receives a direction to issue a tender to the point at which the contract is signed by both parties.

Sole-source

A market approach where only one supplier or contractor is invited to submit a bid in response to a tender. Sole-source is discouraged as … Read more

SoW

Statement of Work, or Scope of Work. The formal description of goods and/or services to be provided by a contractor. It may be prepared by … Read more