What is a Sealed Bid Other Services

A sealed bid is a confidential response from the bidder looking to supply to the government entity. Public procurement typically constitues 15% of any country's GDP. Since, the procurement officer representing the government entity is the custodian of the common men's funds, the procurement process must be transparent and efficient. There is no scope for favourism. To achieve this objective the procuring entity requests the prospective suppliers/bidders to submit their bid in a sealed manner.

On a predefined date and time all the bids are opened in the presence of the bidders and price quoted by each bidder is read in the bid opening meeting. A report is prepared which is signed by all the present bidders or their represntatives.

In the pre-internet era bidders were submitting their bids in a sealed envelop and dropping the envelop in the tender box. Because of extensive presence of internet government procurement entities are embracing digital/e-procurement methods; which is not only transparent but efficient as well. In case of digital procurement the bids are kept confidential or un-accessible till the time of opening.