What is the difference between competitive and negotiated bidding?
What will be an ideal response?
Competitive bidding involves each contractor submitting a bid in competition with other contractors to build the project. In most cases the lowest bidder is awarded the contract to build the project as long as the bid form and proper procedures have been followed and the contractor is able to attain the required bonds and insurance. Negotiated bidding involves the contractor working with the owner (or through the owner's architect-engineer) to arrive at a mutually acceptable price for the construction of the project. It often involves negotiations back and forth on materials used, sizes, finishes, and other items which affect the price of the project.
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Indicate whether the statement is true or false
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Indicate whether the statement is true or false
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