competitive bid
Definition 1
An offering procedure in which underwriters submit sealed bids to the issuer and the issuer selects the underwriter with the best terms.
Definition 2
More generally, the sealed bid process, which is sometimes used in construction contracts and other circumstances.
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Related terms:
auction market, noncompetitive bid
'competitive bid' appears in the definitions of these other terms on BusinessDictionary.com:
apparent low bidder, auction exchange, informal bid, rejected bid, stock exchange
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