vendor bidding definition

vendor bidding means an auction where the owner or auctioneer, or any person on behalf of the owner or auctioneer bids at the auction with the intention to protect the reserve price. For vendor bidding to be legal, it must be announced upfront to bidders and must only be used to bid up to the reserve price but not equal to or exceeding the reserve price.
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vendor bidding means an auction whereby the owner or Auctioneer, or any one person on behalf of the owner or Auctioneer, whichever is applicable, bids at an auction with the intention of protecting the owner’s reserve price.
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Related to vendor bidding

  • Technical Bid means the bid submitted online through the electronic bidding platform, containing the documents as listed out in Clause 2.5.2 of this RFP;

  • collusive bidding or “bid rigging” means any agreement, between enterprises or persons engaged in identical or similar production or trading of goods or provision of services, which has the effect of eliminating or reducing competition for bids or adversely affecting or manipulating the process for bidding