An Invitation to Bid (ITB) is a formal competitive solicitation document that is an invitation of prospective suppliers to submit a bid on materials or services through an advertising public opening at the time and date. The response of ITB is the bid, proposal, tenderer document that is evaluated and awarded to the responsible bidder with the price. In general, when using this solicitation, price as well as specification requests are major considerations in the award process, and the evaluation results are published.
Related Definitions in the Project: The Project Management; Project Proposal; Project Contract
