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Its purpose is to allow unsuccessful bidders to challenge the decision before the contract is signed. It is named after a pair of linked European Court of Justice cases which are jointly known as the Alcatel case (Case C-81/98). Under EU law a statutory "standstill period" was introduced by the Remedies Directive as amended in 2007. [1]
A stalking horse offer, agreement, or bid is a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act, in effect, as a reserve bid. [1] [2] The intent is to maximize the value of its assets or avoid low bids, as part of (or before) a court auction.
In the United Kingdom, bid bonds are commonly used in various industries such as construction, supply, and service contracts. One notable application of bid bonds in the UK is for securing HM Revenue and Customs (HMRC) bonds, [2] which are required for businesses dealing with goods subject to excise duty, such as alcohol, tobacco, and fuel.
A tender announcement from the Indonesian Ministry of Finance. An invitation to tender (ITT, also known as a call for bids [1] or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been ...
A "responsible bidder" is one who is qualified or capable of meeting the requirements set out by the government in its bid solicitation or RFP. [38] Kate Manuel notes that the concept of responsibility on the part of a bidder "has been the federal government’s policy since its earliest days".
Business letters can have many types of content, for example to request direct information or action from another party, to order supplies from a supplier, to point out a mistake by the letter's recipient, to reply directly to a request, to apologize for a wrong, or to convey goodwill. A business letter is sometimes useful because it produces a ...
A demand letter, letter of demand, [1] (of payment), or letter before claim, [2] is a letter stating a legal claim (usually drafted by a lawyer) which makes a demand for restitution or performance of some obligation, owing to the recipients' alleged breach of contract, or for a legal wrong.
Collusion among bidders to reduce competition. Providing bidders with advance "inside" information. Submission of false or inflated invoices for services and products that are not delivered or work that is never done. "Shadow vendors", shell companies that are set up and used for billing, may be used in such schemes.