_____ format reflects the buyer's ability to identify capable suppliers and also recognizes the significant costs of bid preparation.
A) Open bidding
B) Closed bidding
C) Negotiation
D) Collusive bidding
E) Job bidding

Question

Quizplus · Accepted Answer

Closed bidding format is a process where a pre-qualified list of suppliers is invited to submit bids for a particular project or contract. This format reflects the buyer's ability to identify capable suppliers and also recognizes the significant costs of bid preparation because only a select few are invited to submit bids. This contrasts with open bidding, where anyone who meets the basic requirements can submit a bid, regardless of their capability or qualifications. Negotiation involves direct discussions between the buyer and supplier, and collusive bidding is illegal and unethical. Job bidding is a process used in hiring, not in procurement.

_____ Format Reflects the Buyer's Ability to Identify Capable Suppliers