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Course Project Part III_ - Copy
$ 15.00

In competitive bidding, the buyer has to create a proposal that is specific in design and technical specifications in order to solicit bids from potential sellers. This process can take months to accomplish. The buyer runs the risk of not finding a seller that meets their specifications. Additionally, if a bid comes in late that suit the buyer's specifications, the buyer cannot give the bid special consideration. In a negotiation situation, the buyer can solicit a specific seller for the contract. The buyer does not have to wait a specified period for bids, then compare and contrast bids and resolve any issues with bids. Instead, the negotiation process allows the buyer to choose a seller without having to go through competitive bidding process. The negotiation steps provide both parties the ability to discuss the terms and conditions of the contract in a timely manner, which facilitates contract approval and start dates. These steps help to create a sound relationship between the buyer and seller.

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