Abnormally low bid
A bid priced so far below others (or the estimate) that the buyer questions whether it is deliverable.
Procurement & tendering glossary
Plain-English definitions of the terms that decide bids — from ITT and BoQ to IKTVA, ICV, set-asides, and the win-score.
Addendum
An official change or clarification to a tender issued to all bidders during the bidding period.
Award notice
The formal notification of who won a tender (and often the value), issued after evaluation and any approvals.
Bid bond / EMD
A deposit or guarantee that keeps a bidder committed to their offer; forfeited if they withdraw or refuse to sign.
BoQ (Bill of Quantities)
An itemized list of materials, parts, and labor with quantities, used to price construction and works tenders consistently.
CFTA / CETA
Trade agreements (Canadian Free Trade Agreement; Canada–EU CETA) that open government contracts across jurisdictions and set procurement rules.
Commercial evaluation
The scoring of a bid's price and commercial terms, normalized so offers can be compared fairly.
Consortium / Joint Venture (JV)
A team of firms bidding together to combine capabilities and meet a tender's eligibility and capacity requirements.
Debrief
Feedback a buyer gives an unsuccessful bidder explaining how their bid scored and why it did not win.
Eligibility
The mandatory requirements a bidder must meet to qualify — licenses, classifications, certifications, financials, and local content.
EOI (Expression of Interest)
An early-stage invitation for suppliers to register interest in an upcoming opportunity, often used to shortlist before a full tender.
Evaluation criteria
The published factors and weightings a buyer uses to score bids — typically a mix of technical and commercial (price) elements.
Framework agreement
A pre-qualified arrangement with one or more suppliers from which the buyer can order repeatedly without re-tendering each time.
ICV (In-Country Value)
Programs (e.g. UAE ICV, Oman ICV) that score suppliers on the economic value they retain in-country, affecting tender competitiveness.
IKTVA
Saudi Aramco's In-Kingdom Total Value Add program, which measures and rewards local content in the supply chain.
Incumbent
The supplier that currently holds the contract being re-tendered, often with an advantage from experience and relationships.
ITT (Invitation to Tender)
The formal document inviting qualified suppliers to submit a tender, setting out requirements, terms, and submission instructions.
Local content
The share of a contract's value delivered through local goods, labor, and services — increasingly mandated or scored in procurement.
NAICS code
The North American Industry Classification System code that categorizes businesses and the work in US/Canada government contracts.
Performance bond
A guarantee (often 5–10% of contract value) that compensates the buyer if the winning contractor fails to perform.
Prequalification (PQQ)
A screening stage that assesses a supplier's capability, experience, and financial standing before they can bid on a tender.
Prime contractor
The lead firm that holds the contract with the buyer and is responsible for the whole delivery, including subcontractors.
RFP (Request for Proposal)
A solicitation asking suppliers to propose a solution to a defined need, evaluated on technical merit as well as price.
RFQ (Request for Quotation)
A price-led solicitation for well-defined, commoditized goods or services where selection is driven mainly by lowest compliant price.
Scope of Work (SOW)
The section of a tender defining exactly what must be delivered — tasks, deliverables, standards, and timelines.
Sealed bid
A submission kept confidential and unopened until a fixed deadline, ensuring no bidder can see another's offer beforehand.
Set-aside (US)
A US contract reserved for a category of small or disadvantaged business (e.g. 8(a), HUBZone, SDVOSB, WOSB).
Standstill period
A mandatory pause between announcing the intended winner and signing the contract, allowing unsuccessful bidders to challenge.
Subcontractor
A firm delivering part of a contract under the prime contractor rather than contracting directly with the buyer.
Technical evaluation
The scoring of a bid's quality — methodology, team, experience, and compliance — separate from price.
Tender
A formal invitation for suppliers to submit competitive offers to supply goods, works, or services, usually evaluated against published criteria.
Win-score
A calibrated 0–100% estimate of a firm's probability of winning a specific tender, with the drivers behind it.