bid (b d)

v. bade (b d, b d) or bid, bid·den (b d n) or bid, bid·ding, bids

v.tr.
1. To issue a command to; direct.
2. To utter (a greeting or salutation).
3. To invite to attend; summon.
4. past tense and past participle bid Games To state one's intention to take (tricks of a certain number or suit in cards): bid four hearts.
5. past tense and past participle bid To offer or propose (an amount) as a price.
6. past tense and past participle bid To offer (someone) membership, as in a group or club: "glancing around to be sure that he had been bid by a society that he wanted" (Louis
Auchincloss).
v.intr.
1. past tense and past participle bid To make an offer to pay or accept a specified price: decided not to bid on the roll-top desk.
2. past tense and past participle bid To seek to win or attain something; strive.
n.
1.
a. An offer or proposal of a price.
b. The amount offered or proposed: They lost the contract because their bid was too high.
2. An invitation, especially one offering membership in a group or club.
3. Games
a. The act of bidding in cards.
b. The number of tricks or points declared.
c. The trump or no-trump declared.
d. The turn of a player to bid.
4. An earnest effort to win or attain something: made a bid for the presidency.
Phrasal Verbs:
bid in
To outbid on one's own property at an auction in order to raise the final selling price.
bid out
To offer (work) for bids from outside contractors.
bid up
To cause (a price) to rise by increasing the amount bid: bid up the price of wheat.
Idioms:
bid defiance
To refuse to submit; offer resistance to.
bid fair
To appear likely.

[Middle English bidden, to ask, command (from Old English biddan; see gwhedh- in Indo-European roots) and Middle Englishbeden, to offer, proclaim (from Old English b odan;
see bheudh- in Indo-European roots).]

bid der n.

goods [gʊdz]
pl n
1. possessions and personal property
2. (Economics) (sometimes singular) Economics commodities that are tangible, usually movable, and generally not consumed at the same time as they are produced Compare services
3. (Business / Commerce) articles of commerce; merchandise
4. (Business / Commerce) Chiefly Brit
a. merchandise when transported, esp by rail; freight
b. (as modifier) a goods train
the goods
a. Informal that which is expected or promised to deliver the goods
b. Slang the real thing
c. US and Canadian slang incriminating evidence (esp in the phrase have the goods on someone)
a piece of goods Slang a person, esp a woman
Collins English Dictionary – Complete and Unabridged © HarperCollins P

pro·cure (pr -ky r , pr -)

v. pro·cured, pro·cur·ing, pro·cures
v.tr.
1. To get by special effort; obtain or acquire: managed to procure a pass.
2. To bring about; effect: procure a solution to a knotty problem.
3. To obtain (a sexual partner) for another.
v.intr.
To obtain sexual partners for others.

[Middle English procuren, from Old French procurer, to take care of, from Latin pr c r re : pr -, for; see pro-1 + c r re, to care for (from c ra, care; see cure).]

pro·cur a·ble adj.

pro·cur ance, pro·cure ment n.
The American Heritage® Dictionary of the English Language, Fourth Edition copyright ©2000 by Houghton Mifflin Company.Updated in 2009.Published by Houghton Mifflin Company.
All rights reserved.

procurement [prəˈkjʊəmənt]
n
1. the act or an instance of procuring
2. (Business / Commerce) Commerce
a. the act of buying
b. (as modifier) procurement cost procurement budget
A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services the seller
will provide to the buyer. Sending a purchase order to a supplier constitutes a legal offer to buy products or services. Acceptance of a purchase order by a seller usually forms
a contract between the buyer and seller, so no contract exists until the purchase order is accepted. It is used to control the purchasing of products and services from external
suppliers.[1]
Creating a purchase order is typically the first step of the Purchase to pay process in an ERP system. Examples of SaaS providers automating this process include TradeCard and GT
Nexus.

competitive bidding
Transparent' procurement method in which bids from competing contractors, suppliers, or vendors are invited by openly advertising the scope, specifications, and terms and
conditions of the proposed contract as well as the criteria by which the bids will be evaluated. Competitive bidding aims at obtaining goods and services at the lowest prices by
stimulating competition, and by preventing favoritism. In (1) open competitive bidding (also called open bidding), the sealed bids are opened in full view of all who may wish
to witness the bid opening; in (2) closed competitive bidding (also called closed bidding), the sealed bids are opened in presence only of authorized personnel. See also competitive
negotiation.

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consulting
The providing of expert knowledge to a third party for a fee. Consulting is most often used when a company needs an outside, expert opinion regarding a business decision. For
example, a company seeking to sell its products abroad may look for a consultant familiar with the business practices of the target country. The consultant will tell the company
what best practices should be followed, what to expect fromcustomers, and how to deal with foreign regulations.

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infrastructure
The basic physical systems of a country's or community's population, including roads, utilities, water, sewage, etc. These systems are considered essential for enabling productivity in
the economy. Developing infrastructure often requires large initial investment, but the economies of scale tend to be significant.

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procurement
The act of obtaining or buying goods and services. The process includes preparation and processing of a demand as well as the end receipt and approval of payment. It often involves
(1) purchase planning,
(2) standards determination,
(3) specifications development,
(4) supplier research and selection,
(5) value analysis,
(6) financing,
(7) price negotiation,
(8) making the purchase,
(9) supply contract administration,
(10) inventory control and stores, and
(11) disposals and other related functions.
The process of procurement is often part of a company's strategy because the ability to purchase certain materials will determine if operations will continue. A business will not
be able to survive if it's price of procurement is more than the profit it makes on selling the actual product.

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Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise,[1] or the services and facilities necessary for an economy to
function.[2] It can be generally defined as the set of interconnected structural elements that provide framework supporting an entire structure of development. It is an important term for
judging a country or region's development.
The term typically refers to the technical structures that support a society, such as roads, bridges, water supply, sewers, electrical grids,telecommunications, and so forth, and can be
defined as "the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions."[3]
Viewed functionally, infrastructure facilitates the production of goods and services, and also the distribution of finished products to markets, as well as basic social services such
as schools and hospitals; for example, roads enable the transport of raw materials to a factory.[4] In military parlance, the term refers to the buildings and permanent installations
necessary for the support, redeployment, and operation of military forces.[5]

Procurement planning is the process used by companies or institutions to plan purchasing activity for a specific period of time. This is commonly completed during
the budgetingprocess. Each year, departments are required to request budget for staff, expenses, and purchases. This is the first step in the procurement planning process.
The budgets for all the departments are then reviewed, and in an organization that is committed to procurement planning, the accountants spend the time to find common purchasing
requirements. Based on the budgets submitted, they may direct departments to work with central purchasing to combine their planned spending for specific commodities. This process
works best in an organization that is committed to reducing costs. Issues surrounding delivery dates, contract compliance, and customer service issues must be resolved internally
before going out to contract.
The primary concept of procurement is that advanced planning, scheduling, and group buyingwill result in cost savings, more efficient business operation, and therefore increased
profitability. There are four steps that form the basis of procurement planning: group buying, just in time delivery, negotiated bulk pricing, and reduced administrative overhead.
Group buying is the process of combining the total resource requirements for different departments and creating one purchase order. The departments can be physically located in a
range of buildings, with the delivery dates, quantities, and conditions listed in the purchase order. This practice is increasingly common in government and public sector firms, where the
same item can be purchased for a range of different institutions.
(5) Alternative Methods of Procurement
- Limited Source Bidding
- Direct Contracting
- Repeat Order
- Shopping
- Negotiated Procurement

bid documents
Documents required to be submitted in response to an invitation to bid (ITB). These include the prescribed bid form, drawings, specifications, time lines, charts, price breakdowns,
etc. Bids not accompanied by all the required documents are considered incomplete bids, and are usually automatically rejected. Also called bidding documents.

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Number IPP 9
Dated:7/13/12
Replaces: 06/21/11

Internal Policy and Procedures

Competitive Bid Process for Simplified Bids
POLICY:
Requisitions $5000.00 to $50,000.00 require competitive bidding using the simplified bidding process. If no competition exists, follow procedures for waiving the bid process (see IPP
14). Written documentation of competition must be filed in the Vendor file.
PROCEDURE:
1. Agent will develop and prepare bid document.
1.1 Determine whether Special Approvals are required. If required, ensure that they have been obtained and are addressed (see IPP 26).
1.2 Insurance coverage will be required from the successful bidder for service, installation, inside delivery and other work performed on campus that is identified as high risk (see IPP
12). It is imperative that this requirement be made known to the supplier as part of the bid specification.
1.3 Edit the Simplified Bid Request form.
1.4 Edit the Simplified Bid Special Conditions of Bid.
1.5 Using the Simplified Bid Summary Sheet.
1.5.1 Establish the Itemized Bid List which is the format for bidders to offer their prices consistent with the Method of Award selected in SCOB’s (i.e. item number, quantity, unit,
description, manufacturer, unit price and total price).
1.5.2 Establish bidders list (vendor names and fax numbers to be solicited). A minimum of three viable vendor contacts is required when competition exists. If three contacts are not
viable, indicate the reason on the Simplified Bid Summary Sheet. Of the minimum vendor contacts, it is required that a quote from a minimum of one Minority Business Enterprise
(MBE) vendor is solicited. Use the following website to check the Minority Business DirectoryIf there is no MBE available, the MBE section should be noted as "none available" on the
Simplified Bid Summary Sheet.
1.6. Submit bid package to bid processing to include the following:
Simplified Bid Summary Sheet
Simplified Bid Request form
Simplified Bid Special Conditions of Bid
Specifications
Drawings/Samples (if appropriate)
Requisition and/or attached itemized list
Supporting documentation
2. Bid Processing will prepare the simplified bid document:
2.1 Faxing bid: should be on street for three business days (agent discretion is allowed). To determine bid opening date, if faxed before 10:00 a.m. this counts as a business day. If
faxed after 10:00 a.m. you need to add three business days to the date being faxed.
2.2 Mailed bid: should be on street for five business days (agent discretion is allowed). To determine bid opening date you need to add five business days to the date being mailed.
2.3 At 2:00 p.m. on the due date of the bid, record all quotations and other relative information and give to agent.
3. Agent will analyze bids.
3.1 Verify compliance with specifications and conditions of bid.
3.2 Review exceptions taken by bidders and determine whether acceptable or not.

3.3 When bids are received with notation of Proprietary and Confidential, agent must request a written release of that condition in order for bid to be considered.
3.4 Ensure pricing is as requested based on Itemized Bid List. Proof abstract ensuring bid prices and abstract agrees (i.e. minority preference).
3.5 The award(s) must be clearly indicated (circled in yellow highlighter). If other than low bidder is selected, adequate justification for not accepting low bid must be noted.
3.6 Notify department via e-mail or phone call of results if any evaluation is required.
3.7 When releasing the order, use the order type code “PC”. When fax quotes are received, use order text message “FAX”. When written quotes are received use “LTR”. When
telephone quotes are received use “VER”. When e-mail quotes are received use “EML”. The State Procurement Manual PRO-C-8, Section III.B.4 states, “Phone and verbal quotes
should be confirmed in writing by the successful vendor.” To comply with this policy and eliminate waiting for written quotes, purchase orders must contain the following language:
“Verbal Quotation from on . This purchase order confirms the terms and conditions (including price) of the contract between the University and the vendor named unless written
notice of objection from the vendor is received by Purchasing Services within 10 days after receipt.”
This statement is automatically provided by creating an order text message and typing VER or CTV if the transaction is a confirming telephone order.
3.8 All quotation documentation must be filed in the Vendor file. A complete Simplified Bid Summary Sheet, clearly marked with the requisition number and the awarded vendor name
and number, must be forwarded to the appropriate requisition processor. Split awards require the agent to photocopy the Simplified Bid Summary Sheet for each vendor receiving an
award. Highlight appropriate requisition and vendor name and number on each copy. All quotes must be recorded on the Simplified Bid Summary Sheet. All written quotes must be
attached to the Simplified Bid Summary Sheet.
REFERENCES:
PRO-C-8 (Section III.B.4), State of WIProcurement Manual
IPP #12 (Insurance)
IPP #14 (Waiver of the Competitive Process)
IPP #26 (Special Approvals)