Invitation of bids and bid publicity
In previous sub section we learnt how the bid capacity for works and goods are calculated. We discussed how to prepare the bid documents, criteria that are required to qualify a bid, as well the calculation for bid capacity. Here we will learn how to invite bids.
Invitation of bids
You can issue the invitation for bids after the preparation of bid document and after getting it approved from competent authority.
The Invitation For Bids (IFB) should contain the following details:
You learnt what an IFB should contain. Let us now discuss how we can publish the bid.
You should make arrangements for wide national publicity by having the IFB published in newspapers. You should also publish the IFB in appropriate Trade Journals depending on the value of the procurement. These kinds of publicity will ensure better competition.