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Construction Terms Glossary

Conwize Construction Industry Terms Glossary Contents

Bid Leveling: A methodical comparison of contractor proposals in a construction tender

Term Definition Bid leveling is the systematic process of analyzing and adjusting contractor bids to ensure a fair and equitable

Bid Opening: The formal, public unsealing and review of submitted construction bids

Term Definition - Bid opening is a formal, procedural event that marks the end of the bid submission phase. It

Bid Package: A complete and official set of documents for soliciting construction bids

Term Definition - A bid package, often referred to as a tender package, is a complete set of documents and

Bid Protest: A formal challenge to a construction tender’s award or process

Term Definition - A bid protest is a formal administrative or legal challenge filed by an unsuccessful bidder against a

Bid Rigging: A fraudulent scheme where competitors conspire to manipulate a bidding process

Term Definition - Bid rigging is a form of criminal fraud and collusion where two or more contractors secretly agree

Bid Security: A financial guarantee that a bidder will honor their proposal

Term Definition - Bid security is a form of financial guarantee provided by a contractor as part of their bid

Bid Tabulation: A structured summary of raw contractor bids

Term Definition - Bid tabulation is the initial, systematic process of compiling and organizing key data from all submitted contractor

Bill of Quantities (BoQ): An itemized schedule of work and materials for bidding

Term Definition - A Bill of Quantities (BoQ) is a formal document used in the construction and engineering industries that

Blanket Purchase Order: A pre-approved agreement for recurring purchases

Term Definition - A Blanket Purchase Order (BPO), also known as a standing order or master purchase agreement, is a