Bid and proposal

In procurement of goods or services, the Bid and Proposal (B&P) are a firm's plan (proposal) and proposed cost (bid) for fulfilling the conditions outlined in a Request for Proposal (RFP) or other information gathering or supplier contact activity. The development of a bid and proposal takes place early in the procurement process, and the resulting proposal will be subject to review by the purchaser and negotiation between the two parties. Developing a bid and proposal takes place before a contract vehicle is in place, meaning that firms undertake the costly tasks of proposal-writing and cost estimation before they are awarded a contract. Often in official use of these two terms a "bid" supposes the limits or scope of work is similar and usually the lowest "bid" is awarded work, especially in government contracts. Proposals mean the entity is fully aware the details and scope of work may vary and the work is awarded to the best "plan" and NOT the cheapest, lowest price. Quality and quantity are more of a consideration when proposals are taken seriously as opposed to the lowest "bid".

BID

Bid or BID may refer to:

Offer

Places

Science, medicine and technology

Shop at Bid

Shop at Bid was a British television shopping channel based in the UK, that ran daily auction style and later fixed price demonstrations. It was the first channel of its kind in the world. The channel first launched as Bid-Up.tv. The channel was owned by Bid Shopping.

As of 3rd of September, Bid Shopping had reopened with new owners, It was announced on Twitter under the name @bidtv, it was the same Twitter account as they renamed, Bid has planned to reopen on 4/12/15

History

Bid-Up.TV (2000–2005)

The channel was launched by its parent company, Sit-Up Shopping, in October 2000. It started by broadcasting 12 hours a day, much of which were pre-recorded, with auction graphics overlaid so people could bid despite the video itself being pre-recorded. Bid later aired live broadcasts almost 18 hours a day from 7:45am to 2am, with recorded TV Shopping Network presentations during its downtime.

The channel amassed a cult-following as it spread to various digital platforms. This growth in popularity can also be partly attributed to the use of David Dickinson, ex-presenter of the BBC television series Bargain Hunt, in various television advertising campaigns.

Bid price

A bid price is the highest price that a buyer (i.e., bidder) is willing to pay for a good. It is usually referred to simply as the "bid."

In bid and ask, the bid price stands in contrast to the ask price or "offer", and the difference between the two is called the bid–ask spread.

An unsolicited bid or purchase offer is when a person or company receives a bid even though they are not looking to sell.

Bidding war

A bidding war is said to occur when a large number of bids are placed in rapid succession by two or more entities, especially when the price paid is much greater than the ask price, or greater than the first bid in the case of unsolicited bidding.

In other word, bidding war is a situation where two or more buyers are so interested in an item (such as a house or a business) that they make increasingly higher offers of the price they are willing to pay to try to become the new owner of the item.

In the markets

In the context of stock trading on a stock exchange, the bid price is the highest price a buyer of a stock is willing to pay for a share of that given stock. The bid price displayed in most quote services is the highest bid price in the market. The ask or offer price on the other hand is the lowest price a seller of a particular stock is willing to sell a share of that given stock. The ask or offer price displayed is the lowest ask/offer price in the market (Stock market).