1. What is bid validity?
When a bidder submits a bid or proposal in response to an invitation for bids or a request for proposals, they need to commit to their bid (this is done on the bid or proposal submission form) and also to how long the bid/proposal can be considered effective (this is what is commonly called the bid or proposal validity period). For the sake of simplicity and to avoid unnecessary repetition, we will refer from this point forward only to “bid validity”, but it must be understood that we are referring to the validity of a bidder’s offer, be it a bid or a proposal.
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