What Is a Construction Bid ?

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1. Guest16030805
   

   A construction bid is a proposal from a construction company which outlines its qualifications to perform a job and provides information about how much money will be required to complete the job and how long the job will take. Many construction projects start with a construction bid in which the project organizer attempts to find the best construction company for the job, providing an opportunity for various companies to bid for the job. The company with the best bid will be awarded the contract for the project. Construction bids can take a number of forms. Sometimes the bid is for an entire project, as in the case of a general contractor which submits a bid to construct a housing development. In other cases, the bid is from a subcontractor who will take care of part of a project, such as a stonemason who bids on a contract to build garden walls in the housing development example. When a project is opened for bidding, contractors can get basic information about the project specifications, including architectural drawings, site information, and so forth, from the administrators of the project. Using this information, contractors can construct a bid based on their experience and beliefs about cost and time frame. Bidding may be sealed, which means that all bids are submitted blind and reviewed together, or it may be more open in nature. Sealed bidding is designed to discourage corruption and favoritism, and to prevent contractors from underbidding each other. Specific formatting rules must be followed to submit a construction bid in many regions of the world, and information about how the bid should be formatted and submitted is usually available when organizations put out requests for construction bids. Busy construction companies may have a specialist on staff who focuses on writing bids, maintaining community contacts, and keeping up on potential projects of interest.

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