competitive bidding


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial.
Related to competitive bidding: International Competitive Bidding

open competitive selection

The process of selecting a contractor in which an advertisement for bids is published in the news media to notify qualified contractors of the owner’s intention to receive sealed competitive bids.
References in periodicals archive ?
Power Minister Awais Ahmed Khan Leghari has announced competitive bidding in the next two months, of which one month has already passed.
Now it has been decided to produce cheaper electricity to facilitate consumers the government will amend the RE policy 2006, for which power generation through renewable energy resources like wind, solar, biogas and small hydel plants will be carried under an open competitive bidding process.
Meralco) to open competitive biddings for power supply to other players due to the latter's power rate hike.
As part of the Medicare Improvements for Patients and Providers Act of 2008 (MIPPA), Congress enacted a temporary delay of the competitive bidding program and mandated certain changes in the program.
While the competitive bidding demonstration project continues, the efforts to repeal this mandate have escalated.
In order to achieve the best results, competitive bidding should be started anywhere from four to six months prior to renewal.
As we assessed the emerging forces and trends, we got a very clear picture of the impact of a global economy and the explosive growth of eBay and other online auction sites on the competitive bidding world," he said.
Earlier, some confusion had persisted about competitive bidding as there was no word in black and white as to whether competitive bidding would actually take place and when.
Beginning on July 1, Medicare beneficiaries in 10 metropolitan areas (Charlotte, North Carolina; Cincinnati, Ohio; Cleveland, Ohio; Dallas-Fort Worth, Texas; Kansas City, Missouri; Miami-Fort Lauderdale, Florida; Orlando, Florida; Pittsburgh, Pennsylvania; Riverside, California; and San Juan, Puerto Rico) will have to confront the complexities of the new competitive bidding program for durable medical equipment prosthetics, orthotics, and supplies (DMEPOS) under Medicare Part B.
Competitive bidding is an approach that has long been favored by Congress to attempt to control costs in a variety of arenas by allowing the marketplace to competitively determine prices.
In a sharp reversal of a decade-old policy, the Los Angeles City Council on Wednesday ordered that a $500 million bond issue be negotiated with a consortium of lenders rather than awarded through a competitive bidding process.
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) required the Centers for Medicare and Medicaid Services (CMS) to conduct a demonstration program on using competitive bidding for clinical-laboratory services.

Full browser ?