Listen to a Business English Dialogue About Competitive bid
Eleanor: Hey Shawn, do you know what a “competitive bid” means in business?
Shawn: Hi Eleanor, yes, it’s a process where multiple parties submit bids for a project or contract, with the intention of winning based on the best combination of price and terms.
Eleanor: Ah, I see. So, it’s like a competition where companies try to outbid each other to secure a contract or project?
Shawn: Exactly, Eleanor. It fosters a competitive environment where companies strive to offer the most favorable terms to win the bid.
