Definition, Meaning & Synonyms

re-bid

verb

/ˈriː bɪd/

Definition

The act of submitting a new bid for a project or contract after the initial proposal has been made.

Examples

The company decided to re-bid for the contract after receiving feedback on their initial proposal.
Due to budget cuts, they had to re-bid the project to adjust their costs.

Meaning

Re-bid refers to the process where individuals or businesses submit revised proposals or offers, often prompted by changes in circumstances, requirements, or to be more competitive.