competitive bidding: the theory and practi

Competitive bidding today demands both speed and judgement. It is not just a case of seeing a contract that 'looks all right' but of weighing up its individual features and relating the future prospects to past experience. Even so, though experience may be an important factor in the appraisal, there is always the possibility that a particular contract may have an obscure twist to it which will make it unprofitable in the long‐run.