Definition - What does Bidder mean?
A bidder is as an organization or an individual who submits a proposal in response to a tender in order to undertake a construction project. Usually there's more than one bidder for any project and usually the lowest bidder wins the bid. Trenchless construction projects undertaken by a city are usually done by floating tenders that potential contractors can bid on. Experience in the trenchless industry, availability of trenchless equipment such as drill rigs, experienced operators and reputation in the industry also play an important role in making a successful bid.
Trenchlesspedia explains Bidder
When a bidder submits a bid for a project, they commit to certain conditions stipulated by the customer and stipulates certain conditions to be met by the customer. The bidder has to be careful in estimating costs and submitting a final bid that will cover costs for the entire construction process. A bid is different from an estimate. An estimate is generally the calculation of the cost incurred by the contractor in material and labor cost whereas a bid is the final price that the contractor will charge the customer and includes the profits. While some projects consider lowest price as key consideration, especially in government contracts, others take into consideration other factors, such as experience and qualification in addition to the best price.