Definition of 'bewildering'. bewildering (bÉªwÉªldÉrÉªÅ ) A bewildering thing or situation is very confusing and difficult to understand or to make a decision about. A glance along his bookshelves reveals a bewildering array of interests.
Sealed-Bid Auction. What is a 'Sealed-Bid Auction'. A sealed-bid auction is a type of auction process in which all bidders simultaneously submit sealed bids to the auctioneer, so that no bidder knows how much the other auction participants have bid. The highest bidder is usually declared the winner of the bidding process.
competitive bidding. Transparent' procurement method in which bids from competing contractors, suppliers, or vendors are invited by openly advertising the scope, specifications, and terms and conditions of the proposed contract as well as the criteria by which the bids will be evaluated. Competitive bidding aims at obtaining goods and services at the lowest prices by stimulating competition, and by preventing favoritism. In (1) open competitive bidding (also called open bidding), the sealed bids are opened in full view of all who may wish to witness the bid opening; in (2) closed competitive bidding (also called closed bidding), the sealed bids are opened in presence only of authorized personnel.