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What Is a Bid?
A formal proposal a supplier submits in response to a tender, setting out their understanding of the buyer's requirements, pricing, delivery and terms.
What should a bid include?
Everything the tender documents ask for, typically responses to each question or requirement, pricing, supporting evidence and any declarations. Missing items can lead to rejection.
Is a bid the same as a tender?
In everyday use, yes. Both describe the supplier's formal offer to deliver the contract on the stated terms.
Can a bid be changed after submission?
Before the deadline it can usually be withdrawn and resubmitted. After the deadline it cannot be changed, though the buyer may ask for clarification.
