No bid意思

"No bid" is a term commonly used in auction contexts, particularly in the construction industry, to indicate that a contractor or supplier has chosen not to submit a bid for a particular project or contract. When a company or individual decides not to place a bid, they are essentially declining the opportunity to compete for the work.

In some cases, a "no bid" situation might occur because the terms of the project are not favorable to the potential bidder, the bidder lacks the necessary resources or expertise, or they are already committed to other projects. Sometimes, a "no bid" decision can also reflect a strategic choice by the bidder to focus on different opportunities or to avoid over-extending themselves.

The opposite of "no bid" is submitting a bid, which is when a contractor or supplier offers a price and terms for the completion of a project or the provision of goods or services. Bids are typically evaluated by the party issuing the request (e.g., the project owner or the government agency), and the lowest responsible bidder or the bid that best meets the criteria set by the issuer is usually awarded the contract.