Invitation for bid
An invitation for bid (IFB) asks for sealed prices on a clearly defined job, and the contract goes to the lowest responsive, responsible bidder.
It is the usual form for public construction.
On a real bid
Bids are opened in public at a set time, and the prices are often read aloud. There is little room to negotiate: the price and the paperwork decide it.
Some agencies call it an invitation to bid (ITB) or simply a sealed bid.
The longer read: How to bid on city and county contracts
Where Capveon reads it
Capveon reads every invitation for bid in your territory and answers your team's questions on each one, so you only open the ones you can win.
