LEG 440 Comparison Of Competitive Bids Business And Finance Homework Help

Background: Comparison of competitive bids may be the best technique to determine whether a bidder’s price is fair and reasonable. However, if the specifications are restrictive, as some of you have pointed out, you will often fail to get enough bids for the technique to work well. There must be at least two independent offers,preferably more. In addition, it is important that none of the bidders have a marked advantage over the others. 

Question: Can competition prevent “good ole boy system”? How has this changed from prior years?

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