The Sealed bidding process has a few steps that are followed in procurement

The Sealed bidding process has a few steps that are followed in procurement. First, the government or company prepares an official invitation for bids, and in it, the requirements of the qualifying contractor are published. The bid is then made public to prospective bidders, and the company waits for a specific amount of period. Bidders than go ahead to hand out their bids which are opened in public at a particular location and time as indicated in the invitation. The company then evaluates the bids and selects the bids that are economical and has met all the stated requirements. The contract is then handed to the bidder that is selected. The sealed bidding process is very effective when it comes to lowering of the cost that the government is willing to spend. Inviting many bidders ensures that the government is not limited to a single contractor for the job. In addition to this, many bidders often bid low amounts in an effort to land the contractor thus proving a major advantage for the government.

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