1. In many instances, the bidding process is regulated by fiat to ensure fair and equal treatment of all bidders
2. There is end to the possibilities for variation from the basic bidding procedure, as long as the primary objectives of the owner's benefit and fairness to the contractors are observed.
3. The second step in the bidding process is to inform all selected or available bidders that bids will be sought.
4. The invitation is less specific regarding the work and the mechanics of bidding, and establishes the time and place for the receipt of bids.
5. To obtain a fair and meaningful bid, which can be compared and analyzed without confusion, it is necessary to design the bid form with clarity and specificity.
6. The project manager needn't have to review all proposed bid forms with the Architect-Engineer, the client, and the contractors during pre-bid meetings.
7. As a part of their bid submission, not all bidders are required to submit a bond, or an acceptable substitute.
8. The bid bond is generally issued by the contractor's insurer in the amount of 15% of the bid.
9. A performance bond is effective within the construction period and all guarantee-warranty periods.
10. The performance bond is not written in the full amount of the contract.