open bid
noun[C]
COMMERCEukusanoffertosupplygoodsorservicesat aparticularpricethat is notkeptsecret, so that othercompaniescanoffertosupplythegoods, etc. at alowerpriceif theywantto :
Openbidsforrunningwaterservicesareseenbycompaniesas a way ofincreasingearningsandshareprice.
apricethat someoneofferstopayfor something that is notkeptsecret:
Theopenbidof $1.5 millioneclipsedourreserveof $1 million.
Compare
closed bid
sealed bid