What does invitation to bid mean in construction?
Short definition
An invitation to bid is a procurement notice inviting contractors or subcontractors to submit bids.
Longer explanation
ITBs are commonly used for competitive bidding where scope is defined and award may be based heavily on price and responsiveness.
Example in context
“The project team reviewed the invitation to bid during the construction phase.”
Common users
- Owners
- Architects
- Contractors
- Construction managers