sealed-bid tender
noun[C]
ukusCOMMERCE
asystemin whichcompaniesofferto do ajobfor aparticularpricewithoutknowingwhatoffershave been made by othercompanies. Thejobis usually given to thecompanymaking thelowestoffer, after all theoffershave beenopenedtogether:
As anindependentorganizationworkinginyourbestinterest, we willpreparea sealed-bidtenderonyourbehalf.
A sealed-bidtenderopeningprocedurewill need to beestablished.