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Competitive negotiation

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Definition Edit

Competitive negotiation is a

competitive method of contracting for services and commodities, whereby requests for proposals are solicited from vendors, following submission of which bidders deemed by the offeror to be in a competitive range are allowed to make changes in proposals and prices, as the offer determined by the offeror to be most advantageous in terms of the criteria as designated in the request for proposal is accepted.[1]

References Edit

  1. Michigan Dept. of Tech., Management & Budget, 8000 Glossary (Jan. 6, 1997) (full-text).

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