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Contract B
Contract B is a concept in Canadian law. A Contract B is formed when an Owner formally accepts a Bid or, colloquially, a submission of price. Only a single Contract B is formed between the Owner and the successful bidder. Tied to the concept of Contract A, Contract B is a place holder in the concept, a marker at the end of a formalized process of equitable treatment of both bidders and owners.Government Procurement, Fourth Edition, by Paul Emanuelli, p. 125, Published by Lexis Nexis Canada, Year of Publication: 2017, In many ways it is more of an academic detail within the Contract A - Contract B concept, but can also be thought of as a label for the actual construction contract. See also *Contract A * Request For Proposal *reverse auction A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. Thus, there is one buyer and many potential sellers. In an ordinary auctio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract A
In Canadian contract law, Contract A is a concept applied by Canadian courts regarding the fair and equal treatment of bidders in a contract tendering process. Essentially this concept formalizes previously applied precedents and strengthens the protection afforded to those who submit bids in the tendering process. The concept was introduced in 1981 by the Supreme Court of Canada, in '' R. v. Ron Engineering and Construction (Eastern) Ltd''. The court found that a "duty of fairness" was owed to all bidders by an owner in a tendering process. A Contract A, a "process contract",Court of Appeal for British ColumbiaTercon Contractors Ltd. v. British Columbia (Transportation and Highways) 2007 BCCA 592, footnote 1, published 3 December 2007, accessed 29 July 2021 is formed between the owner (person, company or organization tendering the project) and each bidder when a "request for proposal" is responded to in the form of a compliant bid, sometimes also known as submission of price. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Auction
A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by offering increasingly higher prices. In contrast, in a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other. A reverse auction is similar to a unique bid auction because the basic principle remains the same; however, a unique bid auction follows the traditional auction format more closely as each bid is kept confidential and one clear winner is defined after the auction finishes. For business auctions, the term refers to a specific type of auction process (also called e-auction, sourcing event, e-sourcing or eRA, eRFP, e-RFO, e-procurement, B2B Auction). Open procurement pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
