Does FedBid help fulfill FAR requirements for multiple bids, reasonable price, and fair competition?
Yes. • Fair and open competition: FAR intent is satisfied when two or more Sellers participate in a public auction. Determining the acceptability of the competition is always in the Buyer’s hands. When bidding ends, the Buyer has the option of accepting or canceling the procurement. • Establishing fair market price and conducting a cost analysis: Receiving multiple Bids fulfills these requirements. FedBid Buys are open to thousands of qualified Sellers, making FAR compliance easy and virtually assured.
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