Who is bidder

There are many forms of partnerships that can be formed:. Legal entities are formed by shareholders to operate a business for profit. If the bidder is any of the entities mentioned in points 2 to 4 above, the bidder will have to appoint a representative. The representative is usually the person that has authority to sign tender documents on behalf of the bidding entity.

We hope this brings clarity in responding to tenders. Contact us at estelle howtotender. It includes examples of completed SBD forms. Submitting your tender — instructions and conditions Central Supplier database versus vendor registration Open and effective competition when bidding Tax Clearance Certificates and VAT in the tender process What to consider when I do my tender pricing What to do if there are old or incorrect tender documents?

Search by Issuer, Region or Sector, individually, or using any combination of the three. Google Tag Manager. Toggle navigation SA-Tenders. Subscribe Advertise with us Send us your tender Contact us. Thursday November Issue Date:. Wednesday, October 14, Who is the bidder or his or her representative? Partnerships Partnerships are formed between two or more businesspeople who wants to operate a business for profit.

There are many forms of partnerships that can be formed: Normal partnerships — are usually formed between professional people such as attorneys or doctors who share office expenses to safe on costs to ensure profits. Joint Ventures — are typically formed between two or three businesses to execute a contract joining their recourses to be more competitive and increasing their changes of being successful.

Consortium — a Consortium is typically formed between more than three businesses to execute a contract combining their recourses to be more competitive and increasing their changes of being successful. Legal entities Legal entities are formed by shareholders to operate a business for profit.

It is a legal entity which is managed by directors on behalf of the shareholders. With timed bidding, a bidder bids at any time during a defined time period simply by entering a maximum bid. Timed auctions take place without an auctioneer calling the sale, so bidders don't have to wait for a lot to be called. This means that a bidder doesn't have to keep their eye on a live auction at a specific time.

A maximum bid is the highest a bidder is willing to pay for a lot. An automated bidding service will bid on their behalf to ensure that their bid meets the reserve price, or that they always stay in the lead, up to their maximum bid.

If someone else has placed a bid that is higher than the maximum bid, the bidder will be notified, allowing them to change the maximum bid and stay in the auction. At the end of the auction, whoever's maximum bid is the most wins the lot. This type of bidding is a traditional room-based auction. These can be broadcast via a website, allowing viewers to hear live audio and see live video feeds.

The idea is that a bidder places their bid over the Internet in real-time. Effectively, it is like being at a real auction, in the comfort of the home. Timed bidding, on the other hand, is a separate auction altogether, which allows bidders to participate without the need to see or hear the live event.

It is another way of bidding that may be more convenient for the bidder. Company Profiles. Stock Trading. Trading Basic Education. Real Estate Investing. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page.

These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes.

Your Money. Click on a collocation to see more examples of it. From Wikipedia. From the Hansard archive. Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.

See all collocations with bidder. Translations of bidder in Chinese Traditional. See more. Need a translator? Translator tool. What is the pronunciation of bidder? Browse bid sth up. Test your vocabulary with our fun image quizzes. Image credits. Word of the Day have a heart of gold. Blog Outsets and onsets!

Read More. November 08, To top. Sign up for free and get access to exclusive content:. Free word lists and quizzes from Cambridge.