Importance Of Bidding While Purchasing Anything
To obtain maximum value and provide reliable services
, most City purchases are made through the competitive bidding process, with bids awarded to the lowest responsible bidder. When bidding, it is important for vendors to carefully complete and sign all forms. Incomplete or unsigned bids will be rejected. For informal telephone solicitations, bid deadlines will be given by the buyer during the telephone conversation. Bid deadlines are clearly printed on all written request forms. Completed bid forms may be mailed or delivered in person to the address on the printed bid request. Vendors must allow adequate time for delivery. No bid modifications are allowed after the deadline and bids received after the deadline will not be considered. Vendors may call the contact person listed in the bid information package to verify that their bid has been received.
The process of
Bidding takes place in a number of different settings, such as auctions and the stock market. The stock market is an excellent example of how the bid process functions. Bids on stocks and securities help to drive the market. Investors often look for opportunities to acquire stocks that will ultimately prove to enhance the value of his or her financial portfolio. Bidding is an offer of setting a price one is willing to pay for something. A price offer is called a bid. The term may be used in context of auctions, stock exchange, card games, or real estate transactions. Bidding in general involves a mixture of investigation, logic, and gut instinct. Exercising caution before bidding up will help to ensure that the thrill of the chase does not overshadow the practical task of growing a portfolio. The bid is essentially an offer that is made for the acquisition of goods, services, or assets.
Freelance is somebody who is self-employed and is not committed to a particular employer long term. Freelance practice varies greatly. Some require clients to sign written contracts, while others may perform work based on verbal agreements, perhaps enforceable through the very nature of the work. Some freelancers may provide written estimates of work and request deposits from clients. Payment for freelance work also varies greatly. Freelancers may charge by the day, hour, or page or on a per-project basis. Instead of a flat rate or fee, some freelancers have adopted a value based pricing method based on the perceived value of the results to the client. By custom, payment arrangements may be upfront, percentage upfront, or upon completion. For more complex projects, a contract may set a payment schedule based on milestones or outcomes.
Outsourcing refers to a company that contracts with another company to provide services that might otherwise be performed by in-house employees. Outsourcing allows companies to focus on other business issues while having the details taken care of by outside experts. This means that a large amount of resources and attention, which might fall on the shoulders of management professionals, can be used for more important, broader issues within the company. The specialized company that handles the outsourced work is often streamlined, and often has world-class capabilities and access to new technology that a company couldn't afford to buy on their own.
by: JohnDimoria
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