Rebid: meaning, definitions and examples
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rebid
[ ˌriːˈbɪd ]
bidding process
To rebid is to submit a new or revised bid, typically in response to changes in project requirements or cost estimates. This could occur in various scenarios such as construction contracts, procurement situations, or auction contexts. Rebidding may happen when initial bids do not meet budgetary expectations or when conditions have changed significantly since the original bid was submitted.
Synonyms
Examples of usage
- The contractor decided to rebid after reviewing the project costs.
- Due to unforeseen circumstances, the company had to rebid the procurement contract.
- After the initial bidding failed, the committee opted to rebid the project.
Translations
Translations of the word "rebid" in other languages:
🇵🇹 nova oferta
🇮🇳 फिर से बोली लगाना
🇩🇪 erneute Gebot
🇮🇩 tawaran ulang
🇺🇦 повторна пропозиція
🇵🇱 nowa oferta
🇯🇵 再入札
🇫🇷 nouvelle offre
🇪🇸 nueva oferta
🇹🇷 yeniden teklif verme
🇰🇷 재입찰
🇸🇦 عرض جديد
🇨🇿 nová nabídka
🇸🇰 nová ponuka
🇨🇳 重新投标
🇸🇮 nova ponudba
🇮🇸 nýtt tilboð
🇰🇿 жаңа ұсыныс
🇬🇪 ახალი წინადადება
🇦🇿 yeni təklif
🇲🇽 nueva oferta
Etymology
The term 'rebid' comes from the prefix 're-', which means 'again' or 'back', and the word 'bid', which is derived from the Old English 'byde', meaning to offer or to order. The concept of bidding has historical roots in trade and commerce, where parties would present their offers to acquire goods, services, or properties. As procurement processes and competitive bidding became more structured, especially during the industrial revolution, the need for the term 'rebid' emerged to indicate the action of resubmitting offers when initial bids were not satisfactory. It reflects the dynamic nature of negotiations in various sectors, including construction, public contracts, and auctions, where conditions and requirements frequently evolve.