During proposal solicitation, a buying organization may seek to receive a written, sealed tender from prospective suppliers. This is called a(n)

Name: During proposal solicitation, a buying organization may seek to receive a written, sealed tender from prospective suppliers. This is called a(n)
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Question

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A closed bid is a process where suppliers submit their proposals in sealed envelopes, which are opened at a specified time, ensuring confidentiality and fairness in the selection process.

During Proposal Solicitation, a Buying Organization May Seek to Receive