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.
bid bond. A written guaranty from a third party guarantor (usually a bank or an insurance company) submitted to a principal (client or customer) by a contractor (bidder) with a bid. A bid bond ensures that on acceptance of a bid by the customer the contractor will proceed with the contract and will replace the bid bond with a performance bond. Otherwise, the guarantor will pay the customer the difference between the contractor's bid and the next highest bidder.